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Toshiba profit markdown said to double

Jul. 06, 2015 2:43 AM ETToshiba Corporation (TOSYY) StockTOSBF, TOSYYBy: Yoel Minkoff, SA News Editor
  • Toshiba (OTCPK:TOSYY) shares are poised to feel more pressure after an ongoing investigation into past accounting practices found more irregularities than previously expected.
  • A source familiar with the matter said Toshiba may need to write down past earnings by over ¥100B ($818M), more than double earlier estimates.
  • Since the company disclosed the internal investigation in early April, shares have fallen 22% and many analysts have suspended their ratings.

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