November 7, 2024
Company name: | NOK CORPORATION |
Representative: | Masao Tsuru |
Representative Director, Group CEO | |
Securities code: | 7240 |
Contact person: | Shin Okubo |
Head, Investor Relations | |
(TEL: +81-3-5405-6372) |
Notice on Recording Non-Operating Expense (Foreign Exchange Loss)
NOK Corporation informs that it recorded foreign exchange loss as a non-operating expense in the second quarter (from July 1, 2024 to September 30, 2024) of fiscal year ending March 31, 2025 (FY2024).
1. Recording Foreign Exchange Loss as a Non-Operating Expense
The Company recorded foreign exchange loss of 9.7 billion yen in the second quarter (from July 1, 2024 to September 30, 2024) of FY2024, which was mainly due to revaluation of foreign currency dominated assets held by the Company and its subsidiaries with exchange rates at the reporting date. As the Company had recorded foreign exchange gain of 3.9 billion yen in the first quarter of the FY2024, it recorded foreign exchange loss of 5.7 billion yen as a net, in the first six months (April 1, 2024 to September 30, 2024) of FY2024.
2．Impact on Financial Results
Regarding an impact of the non-operating expense on the financial results, please refer to the financial reports for the first six months of the fiscal year 2024, disclosed today.
*Any forward-looking statements on business result projections stated in this material are based on information currently available to NOK Corporation and certain assumptions which NOK Corporation deems reasonable, and are not meant to promise the achievement of such projections. Furthermore, actual financial results may differ significantly due to various factors.