Japanese steelmaker Nippon Steel has announced that it has revalued its valuation losses on the impairment of investment securities for the year ended on March 31 to JPY 3.8 billion ($46.2 million).
In the nine months ended on December 31, Nippon Steel had reported a valuation loss of JPY 8.46 billion. The company stated that during the fourth quarter of the fiscal year ended on March 31, the prices of these investment securities recovered.