Foreign Exchange Risk on Loans to Overseas Affiliates
First written in FY2017. 2 of 5 entries say "Reframed", first in FY2020. Latest entry: FY2022.
Open Up Group moved to the "Worse" side of this theme in 2020.
The whole theme swung hardest in 2020: 3 of 13 companies on the "Worse" side.
1 other company's latest entry also says "Mitigated".
- FY2022MitigatedAnnual report
「Within our group, some trade receivables and trade payables are denominated in currencies other than the functional currency. However, transaction volumes are not material and foreign exchange fluctuation risk is minimal, so the impact of foreign exchange risk is immaterial and no sensitivity analysis of foreign exchange fluctuation risk is performed.」
Transaction volumes for trade receivables and payables denominated in currencies other than the functional currency were not material, and the impact of foreign exchange risk was described as immaterial. - FY2021ReframedAnnual report
「Derivatives comprise forward foreign exchange contracts and interest rate swaps intended to hedge foreign exchange fluctuation risk associated with loans to group companies, and written put options on shares of subsidiaries.」
Forward foreign exchange contracts and interest rate swaps, which were not disclosed in the previous year, were disclosed again, with the explanation reorganized to include hedging instruments for foreign exchange, interest rate and subsidiary share risks. - FY2020ReframedAnnual report
「Derivatives comprise written put options on shares of subsidiaries.」
The previous year's disclosure of forward foreign exchange contracts related to overseas loans was removed, and the current year describes only written put options on shares of subsidiaries as derivatives. - FY2019RestatedAnnual report
「Derivatives comprise forward foreign exchange contracts intended to hedge foreign exchange fluctuation risk associated with loans to group companies, and written put options on shares of subsidiaries.」
Forward foreign exchange contracts and written put options are described as hedging instruments for foreign exchange fluctuation risk associated with loans to overseas entities and other exposures. - FY2017First statedAnnual report
「Derivatives comprise forward foreign exchange contracts intended to hedge foreign exchange fluctuation risk associated with loans to group companies.」
For the first time, the disclosure specifically described foreign exchange fluctuation risk associated with loans to overseas subsidiaries and other entities, and forward foreign exchange contracts as the hedging instrument.