Toshiba Shares Drop More than 20% on Loss Warning
Toshiba
Tokyo - QNA
Toshiba shares fell more than 20% soon after the market opened in Tokyo on Wednesday. The fall follows the firm's announcement that it may log a huge loss from its nuclear business in the United States.
The share price dropped 80 points from the previous day to 311.60. The decline was large enough for trading in the firm's stocks to be automatically stopped, Japan's broadcaster (NHK World) reported. The struggling Japanese electronics giant said on Tuesday that it may post several billion dollars in losses.
Market sources say a sense of distrust among investors is clearly displayed. They say there is also uncertainty about whether the company can quickly bolster its capital base.
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