freee K.K. Announces Substantial Valuation Losses

freee K.K. (JP:4478) has released an update.

freee K.K. reported a significant valuation loss of 951 million yen on shares of its subsidiaries and associates in its non-consolidated financial statements for the fiscal year ended June 30, 2024, due to net losses recorded by these entities. Despite these losses, the impact on the consolidated financial results is nullified as they are eliminated in the consolidation process. Additionally, the company recognized an impairment loss of 31 million yen on non-current assets for the quarter ended June 30, 2024, as part of its mid to long-term growth strategy.

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