Renault will book a one-off loss of about 9.5 billion euros ($11 billion) on its stake in Nissan Motor, the French carmaker said on Tuesday, writing down its years-long investment in its Japanese partner that is battling slumping sales.

Renault SA will recognize an estimated €9.5 billion ($11.2 billion) non-cash loss after changing the way it accounts for its stake in ailing Japanese carmaker Nissan Motor Co.

The French carmaker said it would take the charge after changing the way it accounts for its shares in the Japanese carmaker.