Japan's Kobe Steel to Post 10.8-B.-Yen Special Loss

Economy

Tokyo, Oct. 1 (Jiji Press)--Japan's Kobe Steel Ltd. <5406> said Tuesday it will post an extraordinary loss of 10.8 billion yen to write down its securities holdings.

The loss, caused by drops in the prices of listed stocks, will be recorded in its forthcoming consolidated earnings for April-September.

Kobe Steel did not disclose the names of the companies on which it suffered share valuation losses.

The steelmaker said it will swiftly revise its earnings forecasts for the full year ending next March if such a change becomes necessary.

[Copyright The Jiji Press, Ltd.]

Jiji Press