JOC Staff | Jan 07, 2013 3:57PM EST
Japanese carrier “K” Line has announced that it will report a profit in the third quarter of fiscal year 2013, ending March 31, after some investment securities were re-evaluated and a loss of 14.4 billion yen (about US$163.3 million) was reversed.
The loss was recorded as market prices of the investment securities had “fallen substantially” and would not be likely to recover during the first two quarters, the company said in a written statement.
However, the market prices of some of those investment securities have recovered in the third quarter and the profit from the reversal of the loss will be processed accordingly, the company added.
