Toshiba Expects Sharply Lower Net: Toshiba Corp.,...

Toshiba Expects Sharply Lower Net: Toshiba Corp., the Tokyo-based parent of Irvine-based Toshiba America Information Systems, said Thursday that it expects a 67% decline in its consolidated net income for the 1992 fiscal year ending March 31.

Toshiba said its net income would be 40 billion yen, or $313 million, down from 121 billion yen, or $918.8 million, in the previous fiscal year.

Toshiba attributed the steep plunge in profits in part to keen price competition in personal computers.

The Irvine division, which sells portable computers in the U.S. market, said last week that it would lay off about 150 people.