TOKYO Feb 14 Japanese stocks dropped on Tuesday
afternoon, with Toshiba Corp's diving after it delayed
its earnings release, including details of a multibillion dollar
charge related to cost overruns at its U.S. nuclear arm.
The Nikkei share average dropped 0.5 percent at
19,367.96 in early afternoon trade.
Toshiba's stock nosedived more than 9 percent in early
afternoon after it announced during the midday market recess
that it would delay its earnings release, which was originally
scheduled for 0300 GMT.
"The delay shows that the company is in a mess," said Makoto
Kikuchi, chief executive of Myojo Asset Management. "We can
assume that the company is not delaying its earnings release for
good news. The market speculates that Toshiba will be releasing
figures worse than what is being reported already."
The broader Topix dropped 0.4 percent to 1,548.00
and the JPX-Nikkei Index 400 fell 0.5 percent to
(Reporting by Ayai Tomisawa; Editing by Sam Holmes)