TIDM52TC

RNS Number : 5817A

Kawasaki Kisen Kaisha Ltd

02 April 2012

April 2, 2012

Company: Kawasaki Kisen Kaisha, Ltd.

Representative: Jiro Asakura, President

"K" Line Reverses Loss from Revaluation of Investment Securities in the Fourth Quarter of Consolidated Year Ending March 31, 2012

Kawasaki Kisen Kaisha, Ltd. ("K" Line") announces that, in the fourth quarter of the consolidated fiscal year ending March 31, 2012, it will record a profit arising from the reversal of a large portion of loss due to revaluation of investment securities which was recorded as the market prices of the investment securities had fallen substantially and would not be likely to recover during the preceding three quarters. However, the market prices of some of those investment securities have recovered in the fourth quarter, and the profit arising from the reversal of the loss will be recognized accordingly.

1 Reversal of Loss from Revaluation of Investment securities in the Fourth Quarter of the Consolidated Fiscal Year EndingMarch 31, 2012

(Millions of yen)

 
 Total amount of loss from revaluation                             (14,372) 
  of investment securities in the fourth 
  quarter of the consolidated fiscal year 
  ending March 31, 2012 (January 1 - March 
  31, 2012) ( = A - B) 
                                                     (profit from reversal) 
------------------------------------------------  ------------------------- 
  (A) Total amount of loss from revaluation 
   of investment securities in the consolidated 
   fiscal year ending March 31, 2012 (April 
   1 , 2011 - March 31, 2012)                                         1,349 
 -----------------------------------------------  ------------------------- 
  (B) Total amount of loss from revaluation 
   of investment securities in the preceding 
   three quarters of the consolidated fiscal 
   year (April 1- December 31, 2011)                                 15,721 
 -----------------------------------------------  -------------------------

* Reversal method to apply for the investment securities.

* "K" Line's fiscal year ends on March 31.

2. Future Forecast

"K" Line plans to record a profit arising from the reversal of loss due to revaluation of investmentsecurities as extraordinary profits in the fourth quarter of the consolidated fiscal year endingMarch 31, 2012. As a result, the profit will be one of factors to reduce its consolidated net loss by approximately 10 billion for the fiscal year ending March 31, 2012, compared with the figure (consolidated net loss of Yen54 billion) announced on January 31, 2012. "K" Line is currently preparing its consolidated financial results for the fiscal year ending March 31, 2012 and will make a prompt announcement when it becomes necessary to disclose a revised forecast.

This information is provided by RNS

The company news service from the London Stock Exchange

END

STRGIGDSSUGBGDD

Wells Fargo 26 (LSE:52TC)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Wells Fargo 26 Charts.
Wells Fargo 26 (LSE:52TC)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Wells Fargo 26 Charts.