Hedging energy and interest-rate fluctuations with derivatives
First written in FY2017. 4 of 6 entries say "Softened", first in FY2018. Latest entry: 2026-06-04.
No other company in this theme has enough history to compare yet.
- 2026-06-04AdvancedGeneral Meetings of Shareholders
「また、エネルギー市場価格変動リスクに対して原油スワップ取引を実施して、一部のエネルギーコストの固定化を実施しております。」
FY2024まで契約額ゼロとされていた原油スワップについて、当年度の注記では一部エネルギーコストの固定化を実施していると記載している。金利スワップによる借入金利息のヘッジも継続している。 - FY2024SoftenedAnnual report
「Interest rate swap transactions, fixed payments and floating receipts, long-term borrowings — — —」
Interest rate swaps with a notional amount of ¥631.200 million in the previous fiscal year had a zero notional amount in the current fiscal year, eliminating the balance of interest rate hedges. Crude oil swaps also remain at a zero notional amount. - FY2023SoftenedAnnual report
「Crude oil swap transactions, fixed payments and floating receipts — — 7,392 △117,515」
The notional amount of crude oil swaps fell from ¥85.675 million in the previous fiscal year to zero, reducing and ultimately eliminating the balance of energy price hedges. Of the ¥631.200 million notional amount of interest rate swaps, ¥105.600 million has a maturity of more than 1 year. - FY2022SoftenedAnnual report
「Borrowings are used for working capital (short-term and long-term) and capital expenditures (long-term). The Company conducts interest rate swap transactions to fix interest expense on some long-term borrowings against the risk of interest rate fluctuations. It also conducts crude oil swap transactions to fix some operating supply costs against the risk of fluctuations in energy market prices.」
The policy of hedging with interest rate and crude oil swaps continues, but the notional amount of crude oil swaps decreased from ¥171.350 million to ¥85.675 million, while the notional amount of interest rate swaps is ¥713.920 million. - FY2018SoftenedAnnual report
「Borrowings are used for working capital (short-term and long-term) and capital expenditures (long-term). The Company conducts interest rate swap transactions to fix interest expense on some long-term borrowings against the risk of interest rate fluctuations. It also conducts crude oil swap transactions to fix some operating supply costs against the risk of fluctuations in energy market prices.」
The policy of hedging with interest rate and crude oil swaps continues, but the notional amount of crude oil swaps decreased from ¥176 million in the previous fiscal year to ¥88 million, while the notional amount of interest rate swaps decreased from ¥1,854 million to ¥1,474 million. - FY2017First statedAnnual report
「The Company conducts interest rate swap transactions to fix interest expense on some long-term borrowings against the risk of interest rate fluctuations. It also conducts crude oil swap transactions to fix some operating supply costs against the risk of fluctuations in energy market prices.」
The Company has separately disclosed, for the first time, the use of interest rate swaps and crude oil swaps to fix interest expense on long-term borrowings and some operating supply costs.