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Article: NANKAI ELECTRIC RAILWAY TO GIVE US$47 MLN AID TO GROUP BUILDER.
- Article from:
- AsiaPulse News
- Article date:
- March 26, 2004
CopyrightCOPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OSAKA, March 26 Asia Pulse - Nankai Electric Railway Co. (TSE:9044) will provide almost 5 billion yen (US$47 million) for Nankai Tatsumura Construction Co. (TSE:1850) for the fiscal year ending March 31 to assist in the restructuring of the group general contractor, The Nihon Keizai Shimbun learned Thursday.
The builder, the sole listed subsidiary in the Nankai Electric Railway group, plans to book an impairment loss this fiscal year to write down the value of fixed assets. The company will record the assistance as an extraordinary profit to offset the loss.
As orders for public works projects fall, Nankai Tatsumura has been suffering. It chalked up ...