The Wall Street Journal: Toshiba plunges 20% on warning of write-down that could cost billions

TOKYO — Toshiba Corp. said cost overruns at U.S. nuclear reactors it is building were likely to force a write-down of as much as several billion dollars, clouding its turnaround plan after a 2015 accounting scandal.

The warning, which sent the company’s stock down 20% in Tokyo trading Wednesday, came just as the Japanese conglomerate seemed to have turned a corner thanks to an upswing in its semiconductor business.

Toshiba 6502, -20.43% executives said Tuesday the company was looking at emergency steps to raise funds, including borrowing from its main banks. They said they couldn’t rule out the possibility that Toshiba’s U.S.

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