Write-downs hit Japanese bottom line

摘要

apanese upstream firm Inpex has been forced to cut its profit forecast for the 2014-15 fiscal year ending 31 March from￥120bn($1bn)to￥76bn because of asset write-downs.It attributes the revision to a￥27.5bn write-down of its Joslyn oil sands project in Canada and another￥7.5bn for an upstream block in the Timor Sea.