Toshiba Drops on Reports of Nuclear Unit’s $4.3 Billion Loss
- Nikkei, NHK report charges related to Westinghouse acquisition
- Writedowns would be more than company’s projected profit
Toshiba's Stock Plunges on Nuclear Costs
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Toshiba Corp. posted its biggest decline since May 2015 after reports that it may book a loss of as much as 500 billion yen ($4.3 billion) on its U.S. nuclear operations.
The shares fell as much as 16 percent to 371 yen in early trading in Tokyo on Tuesday. The company said in a statement that it’s not the source of the news reports and it is assessing the current value of its assets.