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Toshiba Shares Crash Over Problems during Nuclear Power Subsidiary

TOKYO—Toshiba Corp. mislaid a fifth of a marketplace value Wednesday after a Japanese firm warned it competence have to take a multibillion-dollar write-down associated to a chief energy business in a U.S.

The dump followed a 12% share-price decrease on Tuesday after initial reports of a write-down. Toshiba pronounced a problem stemmed from cost overruns during a U.S. chief subsidiary, Westinghouse Electric Co., that it acquired in 2006 when prospects for a chief attention looked bright. Westinghouse is building a new…

Article source: http://www.wsj.com/articles/toshiba-shares-crash-after-write-down-warning-1482905903

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