Tokyo  - Japanese electronics giant Toshiba Corp Friday revised its earnings estimate for the previous business year, now predicting a greater net loss due to a price slump in the semiconductor market and tax credit costs.

Toshiba now predicts a net loss of 350 billion yen (3.5 billion dollars) for the business year that ended March 31, up from a previous 280-billon-yen loss estimate. Last business year, Toshiba reported net profits of 127.4 billion yen.

However, operative losses are expected to be smaller than previously thought at 250 billion yen, down from an earlier estimate of 280 billion yen, Toshiba said in a preliminary earnings statement.

Last year, operative profits were at 238.1 billion yen.

It is the third time the Toshiba group, whose products range from nuclear power stations to television sets, had to revise its earnings forecasts for the 2008-09 business year. (dpa)