Misawa Homes Co. said Monday that it is considering writing off 120 billion yen in latent losses on property-backed loans, property assets and shareholdings in the business year ending March 31.

Newspaper reports over the weekend said that the major prefabricated home builder would write off 250 billion yen in such losses during the current business year.

"Some reports that gave the sum of writeoffs as 250 billion yen are not true," Misawa Homes said in a brief statement.