Japan firms post 2 trillion yen of writedowns in wake of biggest overseas buying spree

Tokyo

JAPAN Inc, which has been snapping up everything from drugmakers to beer brands in its biggest overseas acquisition spree on record, is beginning to feel the pain from some of the soured deals of the past.

Companies in Japan booked at least two trillion yen (S$25 billion) of writedowns on their overseas assets in the fiscal year ended March, according to Bloomberg calculations based on the latest earnings reports released through mid-May.