TOKYO, May 13 (Pulse News Wire) – TOA Corporation (1885.T) reported on Friday that it would record a loss provision of ¥6.512 billion due to a major accident during construction work in its fiscal year ending March 31, 2026. The incident occurred during the "Fan Island Pioneer Area Raw Material A&B Berth Publicization Correspondence Demolition Project," leading to significant additional costs for external expenses related to addressing the accident and resuming work.
Additionally, rising material and labor costs in some overseas projects contributed to projected cost increases until completion. As a result, the company decided to recognize the loss provision as part of selling expenses in its consolidated financial statements for the fiscal year ending March 31, 2026.
The impact of these provisions is reflected in the company's preliminary earnings announcement released today according to Japanese accounting standards.
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