Japanese steelmaker
Nippon Steel has announced that it will post valuation losses on the impairment of investment securities totaling JPY 96.3 billion ($1.2 billion) in the April-June quarter of the financial year 2012-13.
According to
Nippon Steel's statement, impairment losses of investment securities for the quarter are based on reassessing losses on valuation of securities at the end of each financial quarter based on previous year-end book values.
The loss on the impairment of investment securities will be recorded as special expenses in the first quarter of the financial year 2012-13.