Dear Shareholders,
January 5, 2015
Listed company name: KROSAKI HARIMA CORPORATION Representative: Nobuhiko Ikura, President
Securities Code: 5352
From among the securities held by Krosaki Harima Corporation ("the Company") and classified into
"available-for-sale securities," we hereby announce that it has become necessary to recognize impairment losses on those securities for which the market value has significantly declined and is not expected to recover and record a loss on valuation of securities as follows for the third quarter of the fiscal year ending March 31, 2015.
1. Loss on valuation of securities for the third quarter of the fiscal year ending March 31, 2015
Total losses on valuation of securities for the third quarter of the fiscal year ending March 31, 2015 (from October 1, 2014, to December 31, 2014) (= A - B) | ¥1,037 million |
(A) Total losses on valuation of securities for the first three quarters of the fiscal year ending March 31, 2015 (from April 1, 2014, to December 31, 2014) | ¥1,037 million |
(B) Total losses on valuation of securities for the first two quarters of the fiscal year ending March 31, 2015 (from April 1, 2014, to September 30, 2014) | ¥ - million |
Notes: The reversal method was applied to the valuation of securities held during each quarter.
The account closing date of the Company is March 31.
2. Reasons for recording an impairment loss on valuation of securities
From among the listed shares held by the Company, the market value of the shares of Magnesita Refratários S.A., a leading manufacturer of refractories in Brazil, fell under half of their book value at the end of the third quarter of the fiscal year ending March 31, 2015. Accordingly, the Company wrote down those shares and recognized a
¥1,037 million loss on valuation of securities as an extraordinary loss for the third quarter of the fiscal year ending
March 31, 2015.
The loss on valuation of those securities may vary or may not be recognized for the fiscal year ending March 31,
2015, depending on their market value at the end of said fiscal year.
3. Effect on performance forecasts
For the effect on the Company's performance forecasts, please refer to the Notice of Revision to the Forecasts of
Consolidated Performance for the Fiscal Year Ending March 2015, which was released today-January 5, 2015.
(Reference)
Consolidated Performance Forecasts (released on January 5, 2015) for the Fiscal Year Ending March 2015 and
Business Results for the Fiscal Year Ended March 2014
Net sales (¥ Million) | Operating income (¥ Million) | Ordinary income (¥ Million) | Net income (¥ Million) | |
Forecasts for the fiscal year ending March 2015 | 109,000 | 3,700 | 3,300 | 1,428 |
Results for the fiscal year ended March 2014 | 101,005 | 2,869 | 3,063 | 1,968 |
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