Japanese steelmaker Kobe Steel has announced the reversal in the third quarter ending December 31, 2012 of the loss on the write-down of investments in securities reported in the first half ending September 30, 2012.
In the first half of the given financial year, Kobe Steel had posted a loss on write-down of investments in securities of JPY 18 billion, resulting in a net loss of JPY 38.1 billion for the period. However, during the third quarter ending December 31 of the financial year 2012-2013, the value of some of these securities was recognized to have recovered.