By Reuters Staff
(Recasts with sale of coal asset, earnings and CFO comments)
TOKYO, Feb 4 (Reuters) - Japanese trading house Itochu Corp said on Thursday it has booked an one-off loss of 88.6 billion yen ($843 million) in the April-December period from a sale of its stake in a coal mine in Colombia to its partner Drummond.
The Japanese company flagged the sale last month when it unveiled a plan to exit the thermal coal business, selling its stakes in mines in Columbia and Australia by March 2024, to promote decarbonisation.
The 88.6 billion yen loss was only on a parent-company basis, which excludes its subsidiaries, and was not reflected in the group’s consolidated earnings.