Oct. 27 (Bloomberg) -- Toshiba Corp., Japan’s biggest memory chipmaker, reported a first-half loss smaller than its earlier forecast, citing cost reductions.

The net loss was 58 billion yen ($630 million) in the six months ended Sept. 30, compared with a previous projection of a loss of 80 billion yen, the Tokyo-based company said in a preliminary earnings statement today. Toshiba is scheduled to report final figures on Oct. 30.

Operating profit, or sales minus the cost of goods sold and administrative expenses, was 2 billion yen in the period, compared with the 30 billion yen loss the company had forecast, Toshiba said.

Revenue was 2.96 trillion yen, 6.2 percent short of the company’s previous target, Toshiba said, citing a stronger yen.

To contact the reporter on this story: Pavel Alpeyev in Tokyo at palpeyev@bloomberg.net.

Last Updated: October 27, 2009 02:30 EDT