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TESS Holdings Co., Ltd. ( (JP:5074) ) has issued an update.
TESS Holdings Co., Ltd. announced changes to its previously disclosed financial matters, specifically regarding the valuation of derivatives and deferred income taxes. The company recorded a significant loss on the valuation of derivatives due to foreign exchange contracts related to its biomass power project, resulting in a total loss of 1,828 million yen. Additionally, the start of operations at the biomass project led to a change in the statutory effective tax rate, resulting in a deferred tax gain of 831 million yen. These changes have already been reflected in the company’s financial forecasts, and any significant future impacts will be disclosed as necessary.
More about TESS Holdings Co., Ltd.
TESS Holdings Co., Ltd. operates in the energy sector, focusing on large-scale biomass power generation projects. The company is involved in the procurement and management of PKS fuels, which are used in its power generation initiatives, particularly through its subsidiary Imari Green Power Co., Ltd.
Average Trading Volume: 656,593
Technical Sentiment Signal: Buy
Current Market Cap: Yen32.68B
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