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Misawa & (3169) · FactRestatedLatest Revision of earnings forecasts (2026-03-17): "Cited as achieved"

Improved Gross Margin from Overseas Procurement Amid Yen Appreciation

First written in FY2018-Q1. 1 of 7 entries say "Mitigated", first in FY2020. Latest entry: 2026-03-17.

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ProgressHeldSoftenedWorseOtherFY2018-Q1 – FY2020-Q2MitigatedFY2020RestatedFY2024-Q1 – 2026-03-172017: 120172018: 120182019: 120192020: 120202021: 020212022: 120222023: 120232024: 020242025: 020252026: 1
Same theme, other companies
Gross Profit Improvement from Yen AppreciationA theme 2 companies write about · 0 as a headwind · 2 as a tailwind

0 other companies' latest entry also says "Cited as achieved".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
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  1. 2026-03-17Cited as achievedRevision of earnings forecasts

    「The improvement in the gross profit margin resulting from the stronger-than-expected yen」

    The previously disclosed improvement in procurement costs and the gross profit margin resulting from the stronger yen is cited, based on actual results, as a factor behind the company exceeding its earnings forecast for the fiscal year ended January 2026.
  2. FY2024-Q1RestatedAnnual report

    「In terms of profit and loss, the increase in the cost ratio caused by soaring raw material prices and the depreciation of the yen resulted in a deterioration in the gross profit margin.」

    The impact of yen depreciation on procurement costs and gross profit margin, previously reported, continued into the first quarter.
  3. FY2023-Q3WorsenedAnnual report

    「In terms of profit and loss, we passed on higher costs to the prices of some products in response to the increase in the cost ratio caused by soaring raw material prices and the depreciation of the yen, but this resulted in a deterioration in the gross profit margin.」

    Unlike the previously reported improvement in overseas procurement and gross profit margin due to a stronger yen, the company states that the cost ratio increased and the gross profit margin deteriorated this time because of yen depreciation and higher raw material prices.
  4. FY2020MitigatedAnnual report

    「為替差益 10,004 千円」

    The company moved from a foreign exchange loss in the previous year to a foreign exchange gain in the current period, improving the impact of foreign exchange movements on earnings.
  5. FY2020-Q2Lower procurement costs from a stronger yen continue to drive profit growthAnnual report

    「さらに、前述の増収要因に加えて、期中の円高の影響による仕入コストの低減により、前年比で売上高、営業利益、経常利益及び四半期純利益が増加しました。」

    Lower procurement costs resulting from a stronger yen are cited as factors behind year-on-year revenue and profit growth.
  6. FY2019-Q2The positive impact of a stronger yen continues to drive profit growthAnnual report

    「In addition to the aforementioned factors behind revenue growth, the sharp appreciation of the yen during the period and early results from cost-cutting efforts launched during the current period resulted in year-on-year profit growth.」

    Following the previous quarter's reference to improved overseas procurement and gross profit margin due to the trend toward a stronger yen, the impact of the sharp appreciation of the yen is cited as a factor behind profit growth this quarter.
  7. FY2018-Q1First statedAnnual report

    「The gross profit margin improved year on year on strong overseas procurement reflecting the trend toward a stronger yen, although」

    The company states that overseas procurement was strong against the backdrop of a stronger yen, improving the gross profit margin year on year.
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"Foreign Exchange Risk Associated with Overseas Sourcing" moved the same way as this thread, in the same document, in 2 of its 7 moves.

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Improved Gross Margin from Overseas Procurement Amid Yen Appreciation | Misawa & Co.,Ltd. (3169) | Komori