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K Line: Notice on the planned recording of extraordinary loss on valuation of investment securities

Kawasaki Kisen Kaisha, Ltd. (“K” LINE) announces that it is planned to record the extraordinary loss on valuation of investment securities in the consolidated financial results for the fiscal year ending March 31st, 2020.

  1. Recording the extraordinary loss

“K” LINE plans to record the loss on valuation of investment securities by the impairment accounting process during the fourth quarter of the fiscal year ending March 31, 2020, for investment securities classified as “available-for-sale securities” where market value showed no prospects for recovery as a result of significant declines.

The total amount of the loss on valuation of investment securities 5,260 Million Yen
during the fourth quarter of the fiscal year ending March 31, 2020
(January 1, 2020 to March 31, 2020)

 

  1. Expected financial results for the fiscal year ending March 31st, 2020

By recording above, it is forecasted that the financial results for the fiscal year ending March 31st, 2020 is to be adjusted downward compared to the previous forecast announced on January 31st, 2020, however, the other events shall be taken into consideration, the final consolidated financial results are scheduled to be announced on May 11th, 2020.