Asia
Arakawa Chemical to Recognize 934 Million Yen in Subsidy Income as Extraordinary Income in Q2; Shares Down 4%
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.
TYO:4968
