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Toshiba cuts full-year profit estimate, COO resigns

Art Post · 2/14/239:20 PM

By Makiko Yamazaki and Mayu Sakoda TOKYO (Reuters) -Japan's Toshiba Corp cut its annual earnings estimate after third-quarter profit slumped and its chief operating officer resigned over the inappropriate use of entertainment expenses. The weak performance and the departure of Goro Yanase come at a time when the scandal-ridden industrial conglomerate is assessing a binding buyout proposal from a consortium led by private equity firm Japan Industrial Partners (JIP). The sluggish results...

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Toshiba cuts full-year profit estimate, COO resigns

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