Toshiba bracing for huge first half operating loss
05 Nov 2015
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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.
