Japanese electronics giant Toshiba (TYO:6502) has narrowly avoided being delisted from the Tokyo Stock Exchange, after a stronger set of results for the full year to March put them back in the black.
The group posted record profits of 804 billion yen on Tuesday for the full year, a huge improvement 965.7 billion yen loss recorded the previous year.
The results were largely boosted by the one-off revenue from tax cuts linked to the sale of its nuclear units. Last year Toshiba faced increasing pressure after a series of accounting scandals and cost-overruns following the acquisition of the US nuclear energy firm Westinghouse. The group was then placed under bankruptcy protection.
Operating profits dropped 21.9 per cent to 64.1 billion yen over the period, however, while sales declined 2.4 per cent to 3.95 trillion yen.
Toshiba is expecting a net profit of 1.07 trillion yen for the current financial year, up 33.1 per cent from the previous year on sales of 3.6 trillion yen.
Shares in Toshiba (TYO:6502) are currently trading up 3.46 percent at 299 JPY (0946GMT).
