Nippon Steel to post valuation loss for October-December quarter

Japanese steelmaker Nippon Steel has announced that it will post valuation losses on the impairment of investment securities totaling JPY 8.46 billion ($110.14 million) in the third quarter ending December 31 of the financial year 2011-12.
 
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 third quarter of the financial year 2011-12.