Harima Chemicals Group to Exit New Zealand Business; Why It Will Book an Extraordinary Loss and Gain Simultaneously

Harima Chemicals Group announced that it will withdraw from its business in New Zealand. The simultaneous recognition of an extraordinary loss and an extraordinary gain was cited as the reason for the withdrawal.

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The story

Harima Chemicals Group announced its withdrawal from the New Zealand business. The business concerned is operated in New Zealand by Lawter N.Z., a subsidiary of the U.S.-based subsidiary Lawter.

The withdrawal was reportedly accompanied by the simultaneous recognition of an extraordinary loss and an extraordinary gain. The text does not specify the amounts or timing.

At a glance

CompanyHarima Chemicals Group

BusinessWithdrawal from the New Zealand business

Lead partyBusiness operated by Lawter N.Z.

Date7 October

Market toneExtraordinary loss and extraordinary gain recognized simultaneously

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