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Japan's Mitsui says may book up to 70b yen impairment loss

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Japanese trading house Mitsui & Co said on Friday it may book impairment losses between 50 billion yen (S$655.4 million) and 70 billion yen (S$918.7 million) in the year ending March 31 due to falling commodity prices and the coronavirus outbreak.

[TOKYO] Japanese trading house Mitsui & Co said on Friday it may book impairment losses between 50 billion yen (S$655.4 million) and 70 billion yen (S$918.7 million) in the year ending March 31 due to falling commodity prices and the coronavirus outbreak.

The company said it is likely to book impairment losses on its stakes in the Eagle Ford shale oil and gas project in the United States and the Tempa Rossa oil field in Italy due to plunging oil prices.

REUTERS