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Toshiba to reduce capital to partly cover losses

TOKYO -- Toshiba plans to reduce its capital by 200 billion yen ($1.81 billion) to offset some of its accumulated losses. As of the end of March, the company was more than 470 billion yen in the red.

Toshiba's ulterior motive in covering part of its losses with a capital reduction is to be able to legally pay dividends.

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