Toshiba net profit up on chip business sale

  TOKYO -- Struggling Japanese engineering firm Toshiba on Monday reported improved full-year net profit thanks to the sale of its chip business, but said operating profit was sharply down. In the year that ended March, Toshiba's net profit jumped 26.0 percent to 1.01 trillion yen ($9 billion), chiefly because of "profit from completion of the sale of the Memory business," it said in a statement. Toshiba "achieved a healthier financial condition by closing the sale of the Memory business, advancing structural reforms that included finalizing the sale of the PC business and decided to withdraw from a nuclear power construction project in the UK," the company said. &nb...

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