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Article: 14% of listed firms already introduced asset impairment accounting.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- May 13, 2005
CopyrightCOPYRIGHT 2005 Kyodo News International. 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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May 13--TOKYO -- With the nation's listed companies required to adopt asset impairment accounting in fiscal 2005 to next March 31, at least 14.1 percent of them have already introduced the rule and booked impairment losses totaling 3.05 trillion yen, according to a report released by Shinko Research Institute on Friday.
Among companies listed on the prestigious First Section of the Tokyo Stock Exchange, the tough accounting rule has already been adopted by 20.7 percent of them, Shinko Research said.
Under asset impairment accounting standards, companies are required to book valuation losses on fixed assets, such as land and plants, whose market values ...