• The Associated Press

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Top chip maker Toshiba Corp. tumbled to a record annual loss amid sinking global demand that has forced it to cut thousands of jobs.

Toshiba reported Friday a ¥343.6 billion net loss for the fiscal year that ended in March, compared with a ¥127.4 billion profit a year earlier. It was the company’s biggest loss ever and its first annual net loss in seven years.

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