Printer Friendly

TDK posts 15 bil. yen loss on Russia-linked bonds+.

TOKYO, Dec. 22 Kyodo TDK Corp. said Tuesday it has incurred a loss of some 15 billion yen on its holding of Euroyen bonds linked to Russian government bonds. The loss occurred on 16.3 billion yen in the Euroyen bonds held by TDK as a result of Russia's decision to postpone the buyback of the government bonds, the leading Japanese maker of magnetic tapes said. Though TDK will post the 15 billion yen as an extraordinary loss on its results for fiscal 1998 through next March, the company intends to keep its unconsolidated net profit forecast of 25 billion yen unchanged, as it will offset the loss with a profit from the sale of other securities.
COPYRIGHT 1998 Kyodo News International, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1998 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Comment:TDK posts 15 bil. yen loss on Russia-linked bonds+.
Publication:Japan Weekly Monitor
Geographic Code:4EXRU
Date:Dec 28, 1998
Words:117
Previous Article:Steps ready to encourage global use of yen+.
Next Article:Saito expects trade friction with U.S. next year+.
Topics:


Related Articles
Tokyo stocks open higher, Nikkei tops 18,000.
Tokyo stocks open sharply lower on Wall Street fall+.
Tokyo stocks trim early losses, McDonald's below IPO price.
Key indexes close higher on TDK's gains, but McDonald's slumps.
TDK anticipates group net loss of 23 bil. yen for FY 2001.
LEAD: TDK expects group net loss of 23 bil. yen in FY 2001.
TDK anticipates group net loss of 23 bil. yen for FY 2001.
TDK reports group net loss of 24.81 bil. yen for FY 2001.
Kyodo economic news summary -4-.
Kyodo economic news summary -5-.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |