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Article: JAPAN LISTED FIRMS BOOKED US$4.4 BLN QTR ASSET IMPAIRMENT LOSSES.
- Article from:
- AsiaPulse News
- Article date:
- September 30, 2005
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TOKYO, Sept 30 Asia Pulse - Publicly traded companies wrote down their fixed assets by a combined 500 billion yen (US$4.4 billion) or so in the April-June quarter, according to data compiled by Nihon Keizai Shimbun Inc.
Asset impairment accounting became a requirement starting with fiscal years that began in April or later. But many firms wrote down the value of their assets before the rule's introduction this year, and the total impairment loss has reached 3.5 trillion yen.
Many write-downs taken in the April-June term were for properties whose values tanked following the bursting of the economic bubble. Leopalace21 Corp . (TSE:8848), for instance, took ...