Japan’s Toshiba announced today its first quarter 2012 results with an operating profit of 11.47 billion yen ($147 million), a better-than-expected 178 percent rise in quarterly operating profit. The consolidated operating income was 11.5 billion yen ($145.2 million), an increase of 7.4 billion yen. The company’s electronic devices division, home to NAND memory chips, posted sales of 307.7 billion yen, down from 333.1 billion yen in the same period last year. Total assets decreased by 183.1 billion yen from the end of March 2012 to 5569.6 billion yen. Shareholders’ equity or equity attributable to the shareholders of the company decreased to 791.3 billion yen, a decrease of 72.2 billion yen from the end of March 2012. The company’s total interest-bearing debt increased by 110.4 billion yen from the end of March 2012 to 1,346.2 billion yen, reflecting an increase in demand for funds due to the increase in orders of the Social Infrastructure segment.
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