Mitsubishi Chemical Group Corporation falls further on impairment loss from UK subsidiary's Soarnol investment plan revision
MITSUBISHI CHEMICAL GROUP CORPORATION <4188> continued to decline. After the close of trading on April 22, the company announced a revision to the investment plan for Soarnol, an ethylene-vinyl alcohol copolymer resin manufactured by its UK subsidiary. Due to rising investment costs and lower-than-expected profitability, the company will recognize impairment losses on Soarnol-related fixed assets, including expenses incurred to date. MITSUBISHI CHEMICAL expects to record an impairment loss of approximately 30,000 million yen for the fiscal year ended March 2026. The announcement has weighed on the stock. The company stated that the overall impact on earnings is currently under review.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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