Japanese shipping major K Line said it would book an impairment loss of ¥5.26bn ($48.9m) for lower valuations of investment securities, dampening the prospects of returning to profitability in the fiscal year.
In a press release, the Tokyo-listed company said the market value of the securities classified as “available-for-sale” showed no prospects for recovery.
No further information was given on the impairment to be recorded for the period between January and March.
