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Business

Japan Post shares plunge on report of massive impairment

Australian subsidiary negatively affecting overseas expansion effort

Japan Post's headquarters in Tokyo.

TOKYO -- Shares of Japan Post Holdings dropped as much as 5% in afternoon trading on Thursday, compared to prices at Wednesday's close, after a report on the possibility of a massive impairment loss from Australian logistics subsidiary Toll Holdings.

The market expressed jitters over yet another huge impairment loss from an overseas acquisition.Toshiba experienced the same fate after acquiring Westinghouse Electric.

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