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Arakawa Chemical to Recognize 934 Million Yen in Subsidy Income as Extraordinary Income in Q2; Shares Down 4%

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Arakawa Chemical Industries (TYO:4968) said it will recognize 934 million yen in subsidy income as extraordinary income for the second quarter of the financial year ending March 31, 2027, according to a Tokyo bourse filing on Monday.

The Tokyo-listed company said this follows the finalization of the subsidy, which was awarded under the Program for Promoting Investment in Japan to strengthen supply chains, related to its Fine Chemicals & Electronics business.

Simultaneously, it will apply reduction entry accounting, recording a 775 million yen loss on the reduction of fixed assets as an extraordinary loss.

Shares of the specialty chemicals manufacturer fell 4% in recent trade.

What else is happening in Asia?

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Orora Chief Safety, Sustainability, Governance Officer to Step Down at End of Year

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Biokin Pharma Enrolls First Patient in Phase Three Trial for Breast Cancer Drug; Shares Up 4%

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Market Chatter: Korea Exchange to Extend Trading Hours till 8PM

South Korea's main stock market, the Korea Exchange, will enable trading till 8 pm following the regular close at 3:30 pm from Monday, in its move toward 24-hour trading, Bloomberg News reported Sunday.This decision opens 2,400 Korea Composite Stock Price Index, or Kospi, and Kosdaq stocks for evening trades, which include short-selling. The move excludes exchange-traded funds, the report said.The Korea Exchange plans to introduce pre-market trading by the end of next year, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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