Risk of exchange-rate fluctuations and international raw material price fluctuations
First written in FY2016. 27 of 36 entries say "Materialised", first in FY2017-Q1. Latest entry: FY2026.
Maruo Calcium moved to the "Worse" side of this theme in 2016, 6 years before the typical company in this theme (2022).
The whole theme swung hardest in 2019: 10 of 16 companies on the "Worse" side.
12 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「The global economy during the consolidated fiscal year under review remained uncertain due to concerns over an economic slowdown resulting from U.S. tariff policy, soaring crude oil prices resulting from the prolonged situation in the Middle East and deterioration in the situation involving Iran, and continuing uncertainty in China due to economic stagnation and accelerating inflation.」
U.S. tariff policy, soaring crude oil prices due to deterioration in the situation in the Middle East and Iran, and China's economic stagnation and inflation were identified as new external factors affecting the environment. The company also reviewed selling prices in response to soaring raw material and logistics costs, and price fluctuation risks continued to affect the business. - 2026-04-27MaterialisedRevisions to earnings forecasts
「Ordinary profit and net income attributable to owners of the parent are expected to exceed the forecasts due to foreign exchange gains resulting from the yen's depreciation progressing further than expected,」
Foreign exchange gains resulting from the yen's depreciation have been generated and reflected in the actual earnings outlook as a factor driving results above the forecasts. - FY2026-H1MaterialisedAnnual report
「In terms of earnings, operating loss was ¥21 million, compared with operating income of ¥19 million a year earlier, as the cost ratio rose due to soaring raw material and energy prices and higher depreciation expenses despite efforts to reduce costs thoroughly.」
Soaring raw material and energy prices were reflected in actual results as a higher cost ratio and became a factor behind the shift from operating profit to operating loss from the same period of the previous year. The foreign exchange loss was ¥5.102 million, down from ¥10.321 million in the same period of the previous year. - FY2025MaterialisedAnnual report
「Due to higher costs resulting from soaring raw material and energy prices, rising personnel and equipment expenses, higher logistics costs and lower production volumes caused by machinery problems at a subsidiary, operating profit was ¥5 million, down 95.8% year on year, and ordinary profit was ¥197 million, down 44.8%.」
Soaring raw material and energy prices were reflected in the current period's earnings as higher costs, while foreign exchange fluctuations were reflected as a foreign exchange loss of ¥6.561 million. - FY2025-H1MaterialisedAnnual report
「Due to higher manufacturing costs resulting from increases in raw material and energy costs, as well as higher logistics expenses, operating profit was ¥19 million, down 74.8% from the same interim period of the previous year, while ordinary profit was ¥115 million, down 47.1%, due to the occurrence of a foreign exchange loss」
Higher raw material and energy costs were reflected in manufacturing expenses, and a foreign exchange loss of ¥10.321 million was also recorded. Foreign exchange and international raw material price fluctuation risks had a realized impact on interim-period earnings. - FY2024MaterialisedAnnual report
「The global economy during the consolidated fiscal year under review remained uncertain due to concerns over monetary tightening in Europe and the United States, soaring resource and raw material prices, the ongoing tensions in Ukraine and the Middle East, and a slowdown in the Chinese economy. In Japan, while moves toward economic normalization, improvements in employment and income conditions, and a recovery in private consumption and inbound demand were seen following the change in the legal classification of COVID-19, economic conditions remained unpredictable due to price increases associated with the yen's depreciation and other factors.」
Soaring resource and raw material prices and price increases resulting from the yen's depreciation were evident in the business environment during the current period. A foreign exchange gain of ¥53.590 million was recorded, with price fluctuations also reflected in the results. - FY2024-Q3MaterialisedAnnual report
「The global economy during the cumulative third quarter under review was supported by a gradual recovery in economic activity as it normalized. However, uncertainty remained due to the prolonged Russian invasion of Ukraine, heightened tensions in the Middle East, persistently high resource and energy prices, continued monetary tightening and a slowdown in the Chinese economy. Against this economic backdrop, the Group's net sales increased by ¥225 million year on year to ¥9.745 billion, up 2.4%, due to an improving economic environment, including a recovery in automobile production following the easing of the semiconductor supply shortage, as well as the yen's tendency to depreciate.」
Persistently high resource and energy prices and the yen's depreciation trend continued, with fluctuations in foreign exchange rates and international raw material prices reflected in the business environment and net sales. - FY2024-Q2WorsenedAnnual report
「The global economy during the cumulative second quarter under review showed increasingly clear signs of a slowdown due to persistently high raw material and energy prices and interest rate hikes by countries in response to high inflation. In China in particular, the pace of economic recovery slowed and concerns over a recession continued. In Japan, although the COVID-19 situation had eased, economic conditions remained unpredictable due to higher prices resulting from the yen's rapid depreciation and rising long-term interest rates.」
Persistently high raw material and energy prices, interest rate hikes in various countries, a slowdown in the Chinese economy, the yen's rapid depreciation and rising long-term interest rates were reported, indicating that the challenging environment surrounding foreign exchange and international raw material price fluctuation risks has continued and intensified. - FY2024-Q1MaterialisedAnnual report
「In response to soaring raw material, energy and logistics costs, the company had almost completed passing higher costs through to selling prices by the end of the first quarter. However, due to a decline in overseas sales, net sales fell by ¥101 million year on year to ¥3.077 billion, down 3.2%.」
Higher raw material, energy and logistics costs were reflected in the actual cost environment, and the company proceeded with passing these costs through to selling prices. However, net sales fell 3.2% year on year due to lower overseas sales. - FY2023MaterialisedAnnual report
「The global economy during the consolidated fiscal year under review remained unstable due to the prolonged Russian invasion of Ukraine, sharp foreign exchange fluctuations and soaring raw material prices, although economic conditions showed signs of recovery in regions other than China, where economic stagnation was seen as a result of the zero-COVID policy.」
The situation involving Russia and Ukraine, sharp foreign exchange fluctuations and soaring raw material prices were evident in the business environment during the current period. Further increases in raw material prices became a factor behind the decline in operating profit, while a foreign exchange gain of ¥42.813 million was also recorded. - FY2023-Q2MaterialisedAnnual report
「Meanwhile, the outlook remained uncertain due to higher resource prices resulting from the prolonged situation in Ukraine and the yen's rapid depreciation accompanying substantial interest rate hikes in the United States.」
Higher resource prices and the yen's rapid depreciation were evident in the business environment. A foreign exchange gain of ¥72.420 million was recorded during the cumulative second quarter, while higher purchase prices for raw materials, fuel and other inputs became a factor weighing on operating profit. - FY2023-Q1MaterialisedAnnual report
「The global economy during the cumulative first quarter under review was showing signs of recovery from the COVID-19 pandemic as economic activity resumed, but the pace of recovery slowed due to the Russia-Ukraine conflict, soaring resource prices, disruptions to supply chains and global inflation. Interest rates were also raised to contain inflation, heightening concerns over an economic recession. In Japan, although signs of a recovery were seen, centered on private consumption, following the easing of restrictions on economic activity, the prolonged situation in Ukraine, soaring resource prices and the yen's depreciation had a significant impact, and the outlook remained uncertain.」
The impact of the Russia-Ukraine conflict, soaring resource prices and the yen's depreciation was evident, and foreign exchange and international raw material price fluctuation risks continued to affect the business environment. In addition, a foreign exchange gain of ¥42.762 million was recorded. - FY2022MaterialisedAnnual report
「Due to the impact of a sharp rise in resource prices from the second half, operating profit was ¥138 million, down ¥13 million from the same period of the previous year, and ordinary profit was ¥292 million, down ¥14 million.」
The sharp rise in resource prices was reflected in the results as actual cost pressure and became a factor behind the decline in operating and ordinary profit. A foreign exchange gain of ¥180 million was recorded. - FY2022-Q3MaterialisedAnnual report
「Although raw material and fuel prices rose in the second half, operating profit was ¥155 million, up ¥92 million from the same period of the previous year, and ordinary profit was ¥266 million, up ¥84 million, due to the steady recovery in net sales, efforts to streamline production processes and reduce costs, among other factors.」
Higher raw material and fuel prices are reflected in the cost environment for the current quarter. Meanwhile, a foreign exchange gain of ¥5.882 million was recorded, representing a change in the income and expense classification from the foreign exchange loss of ¥9.099 million in the same period of the previous year. - FY2022-Q2Shift from foreign exchange losses to foreign exchange gainsAnnual report
「Foreign exchange gain － 793 Foreign exchange loss 3,380 －」
The cumulative second quarter of the 74th fiscal year recorded a foreign exchange gain of ¥793 thousand, compared with a foreign exchange loss of ¥3.380 million in the same period of the previous year, representing a change in the income and expense classification. This does not indicate that foreign exchange risk has disappeared. - FY2022-Q1Reduction in Foreign Exchange LossesAnnual report
「Foreign exchange loss 365 28」
The foreign exchange loss in the first quarter was ¥28 thousand, down from ¥365 thousand in the same period of the previous year. The impact of foreign exchange fluctuations remains, but the amount affecting earnings in the current quarter was smaller than in the same period of the previous year. - FY2021Reduced foreign exchange impact and concerns over higher raw material and fuel costsAnnual report
「In terms of earnings, although efforts will be made to reduce costs, concerns remain over a trend toward higher raw material and fuel costs. Operating profit was ¥110 million, down ¥41 million, or 27.6%, year on year, and ordinary profit was ¥210 million, down ¥96 million, or 31.6%.」
The company explicitly expressed concern over higher raw material and fuel costs in the next period. Meanwhile, the foreign exchange loss for the current period was ¥1.715 million, down from ¥3.304 million in the previous period, indicating that the outlook for foreign exchange effects and raw material and fuel costs is moving in different directions. - FY2021-Q3MaterialisedAnnual report
「Foreign exchange loss 1,494 9,099」
The foreign exchange loss for the cumulative third quarter of the 73rd fiscal year was ¥9.099 million, up from ¥1.494 million in the same period of the previous year. Foreign exchange fluctuations are reflected in non-operating income and expenses for the current period. - FY2021-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The overall risk disclosure reconfirms that there were no new occurrences or significant changes in the risks associated with fluctuations in foreign exchange rates and international raw material prices. - FY2021-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The overall risk disclosure reconfirms that there were no new occurrences or significant changes in the risks associated with fluctuations in foreign exchange rates and international raw material prices. - FY2020MaterialisedAnnual report
「In terms of earnings, due to lower revenue, increased depreciation charges from capital investment and higher transportation expenses, operating profit was ¥114 million, down ¥399 million, or 77.7%, year on year, while ordinary profit was ¥279 million, down ¥370 million, or 57.0%, despite the occurrence of a foreign exchange loss, due to insurance proceeds and other factors」
A foreign exchange loss was recorded, indicating that foreign exchange risk had a realized impact on ordinary profit for the current period. Cost pressures related to fluctuations in raw material, fuel and energy prices also continued. - FY2020-Q3MaterialisedAnnual report
「In terms of earnings, due to lower revenue, increased depreciation charges from capital investment, higher equipment maintenance expenses and the impact of higher energy costs, operating profit was ¥141 million, down ¥325 million, or 69.7%, year on year, ordinary profit was ¥279 million, down ¥297 million, or 51.5%, and net income attributable to owners of the parent was ¥204 million, down ¥165 million, or 44.7%.」
Higher energy costs materialized as a factor behind increased expenses and, together with lower revenue and higher depreciation charges from capital investment, became a factor behind the decline in operating profit and other earnings. - FY2020-Q2MaterialisedAnnual report
「In terms of earnings, due to increased depreciation charges from capital investment and the impact of higher utility and raw material and fuel prices, operating profit was ¥100 million, down ¥169 million, or 62.8%, year on year, ordinary profit was ¥217 million, down ¥137 million, or 38.8%, and net income attributable to owners of the parent was ¥163 million, down ¥68 million, or 29.3%.」
Higher utility and raw material and fuel prices materialized as increased manufacturing costs and became a factor behind the decline in operating profit and other earnings. An exchange loss of ¥5.543 million was also recorded in non-operating expenses, with the impact of fluctuations in foreign exchange rates and raw material prices reflected in the current period's results. - FY2020-Q1MaterialisedAnnual report
「In terms of earnings, due to the impact of higher raw material and fuel prices and increased depreciation charges from capital investment, operating profit was ¥78 million, down ¥24 million, or 23.6%, year on year, ordinary profit was ¥139 million, down ¥5 million, or 3.8%, and net income attributable to owners of the parent was ¥89 million, down ¥2 million, or 2.3%.」
Higher raw material and fuel prices materialized as an impact on manufacturing costs and became a factor behind the decline in operating profit and other earnings. In the first quarter, a foreign exchange loss of ¥6 million was recorded, with fluctuations in foreign exchange rates and raw material prices reflected in the current period's results. - FY2019MaterialisedAnnual report
「In terms of earnings, despite negative factors including higher raw material and fuel costs and increased equipment maintenance expenses, higher net sales resulted in operating profit of ¥514 million, up ¥9 million, or 1.8%, year on year, and ordinary profit of ¥650 million, up ¥36 million, or 5.9%.」
The surge in raw material and fuel costs is reflected in the results as an actual factor behind the increase in expenses. Meanwhile, foreign exchange gains of ¥13 million were recorded in ordinary profit. - FY2019-Q3MaterialisedAnnual report
「Operating profit was ¥466 million, up ¥35 million, or 8.3%, year on year, despite increases in personnel, raw material and fuel costs and equipment maintenance expenses, due to the effect of higher revenue. Ordinary profit was ¥577 million, up ¥51 million, or 9.8%, year on year, partly due to foreign exchange gains.」
Higher personnel, raw material and fuel costs and other factors materialized as increased manufacturing costs and related expenses, while foreign exchange gains were also recorded. Fluctuations in foreign exchange rates and raw material prices, among other factors, are reflected in the current period's results. - FY2019-Q2MaterialisedAnnual report
「Operating profit was ¥269 million, up ¥18 million, or 7.2%, year on year, as higher resource prices and other factors increased manufacturing costs, although strong performance in the Chinese market provided support. Ordinary profit was ¥354 million, up ¥32 million, or 10.2%, as foreign exchange gains increased due to the yen's depreciation from the beginning of the period. Net income attributable to owners of the parent was ¥231 million, up ¥20 million, or 9.6%, year on year.」
Higher resource prices and other factors materialized as increased manufacturing costs, while the weaker yen also led to higher foreign exchange gains. Fluctuations in foreign exchange rates and raw material prices are reflected in the current period's results. - FY2019-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the first quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no new developments or material changes in exchange-rate fluctuation and international raw material price fluctuation risks as a whole. Although foreign exchange gains of ¥8.046 million were recorded in the first quarter, the company does not describe this as a reduction or elimination of the risk. - FY2018MaterialisedAnnual report
「Revenue initially remained on a solid trend at ¥12,036 million, up ¥228 million or 1.9% year on year. However, higher labor, raw material, electricity, and fuel costs, together with increased equipment maintenance expenses, resulted in operating profit of ¥504 million, down ¥64 million or 11.3% year on year, and ordinary profit of ¥614 million, down ¥77 million or 11.2%, also reflecting foreign exchange losses caused by the stronger yen since the beginning of 2018.」
Higher labor, raw material, electricity, and fuel costs materialized as cost increases, while foreign exchange losses caused by the stronger yen also contributed to the decline in ordinary profit. - FY2018-Q3MaterialisedAnnual report
「Under these conditions, net sales remained solid at ¥8,929 million, up ¥167 million, or 1.9%, year on year. However, higher labor, raw material, electricity and fuel costs, together with increased equipment maintenance costs, raised expenses, resulting in operating profit of ¥431 million, down ¥141 million, or 24.7%, ordinary profit of ¥526 million, down ¥144 million, or 21.5%, and profit attributable to owners of the parent for the quarter of ¥350 million, down ¥119 million, or 25.4%.」
Higher labor, raw material, electricity, and fuel costs, together with increased equipment maintenance expenses, materialized as cost increases and contributed to the decline in operating profit and other earnings. Exchange rates remained relatively stable, and the text does not indicate any deterioration due to exchange-rate movements. - FY2018-Q2MaterialisedAnnual report
「Under these conditions, the group's net sales increased steadily to ¥5,772 million, up ¥100 million, or 1.8%, year on year. However, higher labor and resource costs and increased equipment maintenance costs raised expenses. Operating profit was ¥251 million, down ¥76 million, or 23.4%, ordinary profit was ¥322 million, down ¥44 million, or 12.1%, partly due to a decrease in foreign exchange losses, and profit attributable to owners of the parent for the quarter was ¥211 million, down ¥37 million, or 15.1%.」
Higher resource prices and other factors continued to materialize as cost increases and contributed to the decline in operating profit and other earnings. Meanwhile, foreign exchange losses declined from the same period of the previous year. - FY2018-Q1MaterialisedAnnual report
「Under these conditions, the group's net sales increased steadily to ¥2,832 million, up ¥58 million, or 2.1%, year on year. However, higher labor and resource costs increased expenses, and higher equipment maintenance costs resulted in operating profit of ¥84 million, down ¥73 million, or 46.5%, ordinary profit of ¥112 million, down ¥58 million, or 34.2%, and profit attributable to owners of the parent for the quarter of ¥69 million, down ¥47 million, or 40.8%.」
Higher resource prices and other factors materialized as cost increases and contributed to the decline in operating profit and other earnings. Meanwhile, the explanation of the global economy states that exchange rates remained stable, and the income statement for the quarter recorded foreign exchange gains of ¥119 thousand. - FY2017-Q3MaterialisedAnnual report
「Although sales of the group’s products increased, supported by the solid domestic market, a decline in some products handled and the impact of the stronger yen resulted in revenue of ¥8,762 million, down ¥192 million or 2.2% year on year.」
Revenue declined 2.2% year on year due to the stronger yen, indicating that exchange-rate fluctuation risk was reflected in results for the cumulative third quarter. - FY2017-Q2MaterialisedAnnual report
「Although sales of the group’s products increased, a decline in the products handled and the impact of the stronger yen resulted in revenue of ¥5,672 million, down ¥96 million or 1.7% year on year.」
Revenue declined 1.7% year on year due to the stronger yen, indicating that exchange-rate fluctuation risk was reflected in results. Quarterly foreign exchange losses were ¥21.353 million. - FY2017-Q1MaterialisedAnnual report
「Overseas sales declined slightly, partly due to the stronger yen, resulting in a slight decline in revenue.」
Overseas sales declined slightly due to the stronger yen, and foreign exchange losses of ¥17.892 million were recorded in the quarterly consolidated income statement. The impact of exchange-rate fluctuation risk was reflected in results for the quarter. - FY2016First statedAnnual report
「The risk of exchange-rate fluctuations has increased as overseas sales have grown. In addition, raw material price volatility has increased on the cost side, as fluctuations in international prices are immediately reflected in procurement prices.」
The company explains that exchange-rate risk increased as overseas sales grew, while raw material cost volatility increased as international prices were reflected in procurement prices.