January 10, 2018 / 12:13 AM / in a month

BRIEF-Lenovo Updates On Impact of U.S. Tax Cuts On Assets

Jan 10 (Reuters) - Lenovo Group Ltd:

* LENOVO - EXPECTS TO MAKE A ONE-OFF CHARGE IN RESPECT OF ITS DEFERRED TAX ASSETS IN SUM OF APPROXIMATELY US$400 MILLION TO BE INCLUDED IN 9-MONTH RESULTS

* DOES NOT EXPECT SUCH ADJUSTMENT TO HAVE ANY MATERIAL EFFECT ON ITS OPERATION OR CASH FLOW POSITION.

* UPDATES ON IMPACT OF RE-MEASUREMENT OF U.S. DEFERRED TAX ASSETS AS RESULT OF ENACTED U.S. TAX REFORM LEGISLATION, TAX CUTS AND JOBS ACT

* ‍NOTES THAT ACT ALSO REDUCES STATUTORY RATE OF U.S. CORPORATE INCOME TAX

* BOARD BELIEVES THAT SUCH REDUCTION WILL POSITIVELY IMPACT FUTURE EARNINGS OF CO‘S US OPERATIONS IN LONG TERM Source text for Eikon: Further company coverage:

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