Impact on performance from yen appreciation and foreign-exchange volatility
First written in FY2017-Q1. 16 of 23 entries say "Restated". Latest entry: FY2026.
Hodogaya Chemical moved to the "Worse" side of this theme in 2020, 2 years after the typical company in this theme (2018).
The whole theme swung hardest in 2025: 72 of 159 companies on the "Worse" side.
29 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The Group operates in overseas markets, including Europe, the United States and Asia, and overseas sales accounted for approximately 50% of net sales in the current fiscal year.」
Foreign-exchange risk arising from overseas sales accounting for approximately 50% of net sales continues to be identified as a key full-year risk. - 2026-04-27MitigatedRevisions to earnings forecasts
「Foreign exchange gains and losses improved as the yen weakened」
The improvement in foreign exchange gains and losses as the yen weakened was cited as a factor behind the upward revision to the earnings forecast. The disclosure does not state that foreign exchange risk itself had been eliminated. - FY2026-H1RestatedAnnual report
「The outlook for the economy remains uncertain as US tariff measures, foreign-exchange instability and high energy prices continue to have an impact.」
Foreign-exchange instability continues to be cited alongside US tariff measures and high energy prices as a factor contributing to an uncertain economic outlook. - FY2025MaterialisedAnnual report
「Non-operating expenses increased by ¥589 million year on year to ¥761 million, mainly due to a ¥437 million increase in foreign-exchange losses and a ¥147 million increase in environmental-related expenses.」
The impact of foreign-exchange volatility was reflected in current-period non-operating expenses as ¥437 million in foreign-exchange losses. - FY2025-H1MaterialisedAnnual report
「Foreign-exchange losses - 202」
Foreign-exchange gains of ¥269 million in the same period of the previous year turned into foreign-exchange losses of ¥202 million in the current six-month period, showing that foreign-exchange volatility had resulted in an actual loss. - FY2024-Q3RestatedAnnual report
「During the nine-month period ended the third quarter of the current fiscal year, Japan's economy was on a gradual recovery trend as economic activity began to recover. However, the outlook remains uncertain due to persistently high energy prices resulting from continuing instability in the international situation, the prolonged depreciation of the yen, and the resulting rise in prices.」
The prolonged depreciation of the yen continues to be cited alongside persistently high energy prices and rising prices as a factor contributing to an uncertain outlook. - FY2024-Q2RestatedAnnual report
「During the six-month period ended the second quarter of the current fiscal year, Japan's economy was on a gradual recovery trend as it recovered from the COVID-19 pandemic. However, the outlook remains uncertain due to persistently high energy prices resulting from continuing instability in the international situation, the rapid depreciation of the yen, and the resulting rise in prices.」
The rapid depreciation of the yen continues to be cited alongside persistently high energy prices and rising prices as a factor contributing to an uncertain outlook. - FY2024-Q1RestatedAnnual report
「The outlook remains uncertain due to the continuing impact of global monetary tightening, including the ongoing rise in the yen's depreciation, as well as persistently high energy prices.」
The yen's depreciation continues to be cited alongside high energy prices and the impact of global monetary tightening as a factor contributing to an uncertain outlook. - FY2023-Q3RestatedAnnual report
「During the nine-month period ended the third quarter of the current fiscal year, Japan's economy showed signs of recovery as restrictions on activity were eased, despite the continuing impact of COVID-19. However, the outlook remained uncertain due to high energy prices, the prolonged invasion of Ukraine by Russia, and the rapid depreciation of the yen.」
The rapid depreciation of the yen continues to be cited alongside high energy prices and the prolonged invasion of Ukraine as a factor contributing to an uncertain outlook. - FY2023-Q2Recognition of foreign-exchange gainsAnnual report
「Foreign-exchange gains 346」
Although the rapid depreciation of the yen was identified as a source of uncertainty in the operating environment, foreign-exchange gains of ¥346 million were recognized as non-operating income for the six-month period ended the second quarter of the current fiscal year. - FY2023-Q1WorsenedAnnual report
「During the three-month period ended the first quarter of the current fiscal year, Japan's economy showed signs of recovery as restrictions on activity related to COVID-19 were eased and economic activity began to recover. However, the outlook remains uncertain due to surging raw-material and fuel prices, Russia's invasion of Ukraine, and the rapid depreciation of the yen.」
In addition to the previously cited risk of yen appreciation and other foreign-exchange risks, the rapid depreciation of the yen is expressly identified as a source of uncertainty in the operating environment. - FY2022RestatedAnnual report
「The Group operates in overseas markets, including Europe, the United States and Asia, and overseas sales accounted for approximately 50% of net sales in the current fiscal year. Accordingly, fluctuations in foreign-exchange rates may affect the Group's operating results and financial position.」
Foreign-exchange risk continues to be disclosed, and the approximately 50% overseas sales ratio makes the Group's exposure more specific. - FY2020MaterialisedAnnual report
「Impact on sales: +¥284 million Impact of foreign-exchange volatility: -¥200 million」
The impact of foreign-exchange volatility was quantified as a ¥200 million reduction in operating profit, showing that foreign-exchange risk affected the current period's results. - FY2020-Q3RestatedAnnual report
「As described above, while uncertainty about the economic outlook in various countries is increasing, Japan's economy is expected to remain challenging due to concerns about intensifying US-China trade friction, export restrictions on South Korea, geopolitical risks, and the risk of yen appreciation.」
The risk of yen appreciation continues to be cited alongside US-China trade friction, export restrictions on South Korea, and geopolitical risks as a factor contributing to a challenging operating environment. - FY2020-Q2RestatedAnnual report
「As described above, while uncertainty about the economic outlook in various countries is increasing, Japan's economy is expected to remain challenging due to intensifying US-China trade friction, the impact of export restrictions on South Korea, geopolitical risks in the Middle East and elsewhere, the risk of yen appreciation, and concerns about a decline in domestic consumption following the consumption-tax increase.」
The risk of yen appreciation is reiterated alongside US-China trade friction, export restrictions on South Korea, geopolitical risks, and concerns about domestic consumption after the consumption-tax increase as a factor contributing to a challenging operating environment. - FY2020-Q1RestatedAnnual report
「The outlook is expected to remain challenging due to intensifying US-China trade tensions, the impact of export restrictions on South Korea, geopolitical risks in the Middle East and South America, the risk of yen appreciation, and the increase in the consumption-tax rate.」
The risk of yen appreciation is reiterated alongside US-China trade tensions and geopolitical risks as a factor contributing to a challenging future operating environment. - FY2019RestatedAnnual report
「Japan's economy faces an increasingly uncertain outlook and is expected to remain challenging due to intensifying US-China trade friction, geopolitical risks in the Middle East and South America, the risk of yen appreciation, and the planned increase in the consumption-tax rate.」
The risk of yen appreciation is expressly identified, alongside US-China trade friction and geopolitical risks, as a source of uncertainty in the future operating environment. - FY2019-Q3RestatedAnnual report
「Looking ahead, the outlook remains uncertain due to concerns about a global economic slowdown triggered by US-China trade friction, foreign-exchange volatility, and the UK's withdrawal from the EU.」
The risk of foreign-exchange volatility continues to be indicated alongside concerns about a global economic slowdown and the UK's withdrawal from the EU. - FY2019-Q2RestatedAnnual report
「Looking ahead, the outlook remains uncertain due to concerns about a global economic slowdown triggered by US-China trade friction and the risk of foreign-exchange volatility.」
The risk of foreign-exchange volatility continues to be cited alongside concerns about a global economic slowdown triggered by US-China trade friction. - FY2019-Q1RestatedAnnual report
「Looking ahead, the outlook remains uncertain due to concerns about a global economic slowdown triggered by US-China trade friction and the risk of foreign-exchange volatility.」
The risk of foreign-exchange volatility is reiterated alongside concerns about a global economic slowdown as a factor contributing to an uncertain outlook. - FY2017-Q3RestatedAnnual report
「Against this backdrop, net sales for the nine-month period ended the third quarter of the current fiscal year were ¥23,675 million, down ¥477 million, or 2.0%, year on year, due in part to the stronger yen and the continued challenging business environment for imaging materials.」
The stronger yen continues to be cited as a factor behind the decline in net sales. - FY2017-Q2RestatedAnnual report
「Against this backdrop, net sales for the six-month period ended the second quarter of the current fiscal year were ¥15,675 million, down ¥386 million, or 2.4%, year on year, due in part to the stronger yen and the continued challenging business environment for imaging materials.」
The stronger yen continues to be cited as a factor behind the decline in net sales. - FY2017-Q1.Annual report
「Against this backdrop, net sales for the three-month period ended the first quarter of the current fiscal year were ¥7,578 million, down ¥159 million, or 2.1%, year on year, due in part to the stronger yen and weaker demand for imaging materials.」
The stronger yen is explicitly cited as a factor behind the decline in quarterly net sales.