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Feb 14, 2019 15:00 JST

Source: Showa Denko K.K.

SDK Records Impairment Loss (Extraordinary Loss)

TOKYO, Feb 14, 2019 - (JCN Newswire) - Showa Denko ("SDK"; TSE:4004), in its 2018 consolidated financial statements announced today, recorded loss due to impairment (extraordinary loss).

Specifically, we reappraised the value of the aluminum beverage can business, of SDK and its consolidated subsidiary Showa Aluminum Can Corporation, and the value of the lithium-ion battery materials business, of SDK, taking into consideration their future performance forecast. As a result, SDK decided to record impairment loss of 8,845 million yen and 4,641 million yen, respectively, for relevant fixed assets. Furthermore, SDK recorded impairment loss for idle assets at some of its sites, including Hikone Plant (5,967 million yen) and Institute for Advanced and Core Technology (1,864 million yen). In total, SDK recorded 22,573 million yen of impairment loss in the category of extraordinary loss.

As for the influence of this issue on the consolidated business results, please refer to SDK's 2018 consolidated financial statements announced today.

- 2018 Consolidated Financial Statements and summary
http://www.sdk.co.jp/assets/files/english/ir/library/fss2018.pdf

Contact:
Showa Denko K.K. IR Office, Tel: 81-3-5470-3323
Source: Showa Denko K.K.
Sectors: Chemicals, Spec.Chem

Copyright ©2024 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

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