Itochu may book impairment loss on Brazil's iron ore asset-CFO
TOKYO Feb 5 (Reuters) - Japanese trading house Itochu Corp may book an impairment loss on its stake in Namisa iron ore asset in Brazil in the January-March quarter, Chief Financial Officer (CFO) Tadayuki Seki told a news conference on its earnings on Thursday.
He declined to comment on the size of the possible writedown, but said the latest book value of the stake is about 150 billion yen ($1.28 billion).
He also said Itochu's stake in Colombia's Drummond coal mine will fall below the current 20 percent as it has decided late last year not to take up its rights in the miner's share sale, which would dilute its shareholding.
($1 = 117.2000 yen) (Reporting by Yuka Obayashi; Editing by Sunil Nair)
© Thomson Reuters 2016 All rights reserved.