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Toshiba shares rise after profit restatement
May 14, 2015 / 12:21 AM / 3 years ago

Toshiba shares rise after profit restatement

TOKYO (Reuters) - Shares in Toshiba Corp rose about four percent on Thursday after the company said the mark-down in its profits in the past three years due to accounting irregularities will be estimated at around 50 billion yen ($419.50 million).

The announcement late on Wednesday soothed investors’ fears the probe could lead to a major scandal, and helped push up Toshiba’s American Depositary Receipts 12 percent overnight.

Reporting by Hideyuki Sano; Editing by Stephen Coates

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