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Japanese duo warn of impairments on stakes in Emas Chiyoda Subsea

NYK Line provides for Q3 extraordinary loss of 13b yen for its 25% holding; Chiyoda expects downward revision to FY forecast over its 35% stake
Wednesday, February 1, 2017 - 05:50

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NYK Line said that the one-time loss was recorded after reassessing the future recoverable value of its stockholdings of, and loans to, Emas Chiyoda Subsea, the subsea JV with Ezra.

Singapore

CHIYODA Corp and NYK Line on Tuesday issued warnings of one-time writedowns against their stakes in Emas Chiyoda Subsea (ECS), a joint venture with Singapore-listed Ezra Holdings.

NYK Line said an extraordinary loss of about 13 billion yen (S$162 million) has been

sentifi.com

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