Fluctuations in foreign-exchange rates and precious-metals prices
First written in FY2016. 1 of 4 entries say "Mitigated", first in FY2017. Latest entry: 2026-08-18.
Happiness and D moved to the "Worse" side of this theme in 2023, 1 year after the typical company in this theme (2022).
The whole theme swung hardest in 2026: 8 of 10 companies on the "Worse" side.
4 other companies' latest entry also says "Materialised".
- 2026-08-18MaterialisedRevision of earnings forecasts
「Sales of bullion products, which had been the main driver, have shown signs of stagnating as gold prices temporarily peaked.」
Fluctuations in precious-metals prices have appeared in the earnings outlook as stagnation in sales of the core bullion products. - FY2023ReframedAnnual report
「Fluctuations in foreign exchange and precious-metal prices, and country risk」
The scope has been expanded from the previous risks of fluctuations in foreign exchange and precious-metal prices to include risks related to overseas production bases, including foreign exchange, geopolitical, social, credit, and market risks. - FY2017MitigatedAnnual report
「Although we have established a structure under which transactions are denominated in yen and conducted through Japanese trading companies, substantially limiting the direct impact of foreign exchange rates, fluctuations in exchange rates may affect procurement and selling prices. These price fluctuations may, in turn, cause changes in procurement and sales volumes, potentially affecting our business performance.」
The company describes measures to substantially mitigate the direct impact of foreign exchange rates through yen-denominated transactions conducted via trading companies, while noting that residual risks remain. - FY2016First statedAnnual report
「Many of the products we handle are imported and are affected by foreign exchange rates.」
The company identifies the effects of foreign exchange fluctuations on procurement and selling prices and volumes, as well as the impact on business performance from rising precious-metal prices, as risks.