Toshiba bracing for huge first half operating loss

Troubled Japanese electronics company Toshiba is bracing for huge losses as it works out the cost of an accounting scandal.

The company is expected to announce an operating loss of 90 billion  ($740 million) for the six months through to September, according to a report in the Nikkei business daily.

The losses are the company's first for six years and compare with a 137.8 billion profit in the same period last year.

Toshiba shares tumbled as much as 5.9 per cent this morning to their lowest level in almost a month, before staging a slight recovery to 330.5 , down 3.6 per cent, midway through the day.