”K” Line Hurt by Falling Investment Securities
Tokyo-headquartered shipping conglomerate Kawasaki Kisen Kaisha (”K” Line) expects to report a JPY 8.13 billion (USD 67.7 million) loss in the quarter ending September 30 due to revaluation of investment securities.
”K” Line said that the market prices of the company’s investment securities have fallen substantially and are not likely to recover.
The company is currently preparing its consolidated financial results for the first half and full fiscal year ending March 31, 2016.
The loss from revaluation of investment securities will be recognized as an extraordinary loss in the second quarter of the fiscal year.