Procurement of materials from Chinese manufacturers and loss of competitiveness due to foreign exchange movements
First written in FY2024. 1 of 3 entries say "Reframed", first in FY2025. Latest entry: FY2026.
The whole theme swung hardest in 2022: 24 of 35 companies on the "Worse" side.
12 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Because some of the recycled materials, including plastics and non-ferrous metals, procured and planned for production by the Group are imported from Chinese manufacturers offering cost advantages in order to reduce costs, changes in conditions within China and fluctuations in foreign exchange rates may affect the Group’s financial results.」
While reducing costs through imports of materials from Chinese manufacturers, the company continues to identify the risk that changes in conditions within China and foreign exchange fluctuations may affect its financial results. - FY2025ReframedAnnual report
「In addition, a considerable portion of the Group’s export and overseas business transactions is denominated in foreign currencies, including U.S. dollars and Chinese yuan, and fluctuations in foreign exchange rates may affect the Group’s competitiveness. Even in its domestic business, changes in the cost competitiveness of materials and products supplied by overseas competitors as a result of foreign exchange fluctuations may affect the Group’s competitiveness.」
In addition to China-related environmental and foreign exchange risks associated with procuring materials from Chinese manufacturers, the company has expanded its description of the impact of foreign exchange risk to include foreign-currency transactions in export and overseas business and the cost competitiveness of products supplied by overseas competitors in its domestic business. - FY2024First statedAnnual report
「Because some of the recycled materials, including plastics and non-ferrous metals, procured and planned for production by the Group are imported from Chinese manufacturers offering cost advantages in order to reduce costs, changes in conditions within China and fluctuations in foreign exchange rates may affect the Group’s financial results.」
While reducing costs through imports from Chinese manufacturers, the company identifies, as a standalone item, the risk that changes in conditions within China and foreign exchange fluctuations may affect its financial results and competitiveness.