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Toshiba shares extend losses on accounting woes
January 20, 2017 / 12:27 AM / 9 months ago

Toshiba shares extend losses on accounting woes

TOKYO (Reuters) - Shares in Japan’s Toshiba Corp (6502.T) extended losses on Friday, weighed down by concern over a potentially bigger-than-expected $6 billion writedown triggered by cost overruns at its U.S. nuclear business.

Workers prepare the New Year's eve numerals above a Toshiba sign in Times Square in Manhattan, New York City, U.S., December 26, 2016. REUTERS/Andrew Kelly

The shares were down 6 percent in early trade and pared some losses to trade down around 4 percent by 0012 GMT. Toshiba’s shares have almost halved since the group first announced in December the prospect of a nuclear writedown.

Reporting by Clara Ferreira Marques; Editing by Himani Sarkar

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