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Kyokuyo As Single Entity Posts \1B Loss on Devaluation of Marketable Securities

October 4, 2010

Kyokuyo posted a 1.003 billion loss on devaluation of marketable securities as a single entity and \879 million as the group for the second quarter (from April to September) of the fiscal term ending in March 2011.

The Kyokuyo Group plans to achieve sales \155 billion, operating earnings \3 billion, ordinary profit 2.8 billion, and net income \1.5 billion in the current year. As a single entity the company aims at sales of \142 billion, operating income of \2.2 billion, ordinary earnings of \2.1 billion, and net profit of \1.2 billion. Earnings forecast is under way.

Appraisal losses during the April-to-June period were \218 million as a single entity and \95 million as the group; however in the following quarter from July to September the losses grew as both a single entity and the group to \748 million.

The original article was published on October 4, 2010 and was translated by Kiyo Hayasaka

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