Toshiba nu­clear write­down looms

China Daily (Hong Kong) - - BUSINESS -

Toshiba Corp can’t get past its ac­count­ing prob­lems. The Ja­panese com­pany, which paid a record fine a year ago for its book­keep­ing prac­tices, warned that it may now have to take another charge of sev­eral bil­lion dol­lars re­lated to an ac­qui­si­tion made by US unit West­ing­house Elec­tric. The com­pany’s shares fell 12 per­cent to 392 yen at the close in Tokyo on Tues­day, the big­gest de­cline since De­cem­ber 2015, af­ter ear­lier re­ports that it may book a loss of as much as 500 bil­lion yen ($4.3 bil­lion). Toshiba is­sued a state­ment af­ter the mar­ket closed,

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