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Thursday 14 May, 2009

Takefuji Corporation

Announcement of posting extra

RNS Number : 2451S
Takefuji Corporation
14 May 2009
 



Announcement of posting extraordinary loss


TAKEFUJI CORPORATION ('the Company') announces posting extraordinary loss in financial results for the Fiscal Year Ended 2009 as below:


Details


1. Details of extraordinary loss

 

As for Euro-yen Senior Unsecured Bonds due 2034 of total issue amount of 120 billion yen (issue price of 42 billion yen) issued in March and May 2004, the Company cancelled a call option agreement of bonds, which it had entered into, bought back and cancelled the bonds at the end of March 2009, in order to reduce future financial expenses as a part of cost cut measures in aiming to achieve Medium-Term Business Plan, which starts in FY ending March 31, 2010, featuring asset quality improvement. As a result, the Company recorded 10,475 million yen of loss on redemption of bonds as extraordinary loss.


2. Impact on operating results

 

In regards to impact on operating results, please refer to Brief Statement of Financial Results for the Fiscal Year Ended March 31, 2009, which was published today.



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