Impact of Yen Appreciation on Export Sales
First written in FY2016-Q2. 6 of 15 entries say "Mitigated", first in FY2017-Q1. Latest entry: 2026-07-03.
Kawaguchi Chemical Industry moved to the "Worse" side of this theme in 2018, the same year as the typical company in this theme.
The whole theme swung hardest in 2025: 14 of 17 companies on the "Worse" side.
4 other companies' latest entry also says "Mitigated".
- 2026-07-03MitigatedRevision of earnings forecasts
「Profit improved rapidly, supported by expanded sales of high-value-added products, growth in overseas sales and the effects of the weaker yen.」
The company states that the effects of the weaker yen contributed to profit improvement, with the impact of yen appreciation on export sales continuing to ease. - FY2024MitigatedAnnual report
「Japan's economy remained in an uncertain environment, but companies focused on exports maintained strong performance against the backdrop of yen depreciation, and the pass-through of higher costs into product prices progressed」
Yen depreciation was cited as a factor supporting the performance of export-oriented companies, and the impact of past yen appreciation on export sales had eased. quantified=false, materialized=false. - FY2023-Q3MitigatedAnnual report
「Japan's economy continued on a gradual recovery trend, led by exports, as personal consumption, capital investment and inbound demand recovered and the yen's depreciation persisted.」
The prolonged depreciation of the yen was cited as a factor supporting Japan's recovery, led by exports, while the impact of yen appreciation on export sales had eased. - FY2023-Q1RestatedAnnual report
「Japan's economy also remained on a gradual recovery trend, led by personal consumption and exports, while energy and raw-material prices continued to rise. The yen's depreciation supported the performance of export-oriented companies, but also led to deterioration in personal consumption.」
The filing continues to note the dual impact of yen depreciation: support for the performance of export-oriented companies, but deterioration in personal consumption. - FY2021MitigatedAnnual report
「We hedge the foreign-exchange risk associated with foreign-currency-denominated receivables and payables through forward contracts and other measures, and will continue implementing appropriate hedging measures. However, exchange-rate movements could affect our results.」
Although foreign-exchange risk remains, hedging measures such as forward contracts are in place for foreign-currency-denominated receivables and payables. - FY2020-Q1WorsenedAnnual report
「Overseas orders declined due to lower customer demand and foreign-exchange effects, and sales fell below the year-earlier level.」
For overseas sales of resin chemicals, orders and sales fell below the year-earlier level due to lower customer demand and foreign-exchange effects. - FY2019WorsenedAnnual report
「Sales fell below the previous year's level, partly due to the yen remaining stronger than in the previous year during the first half.」
The impact of yen appreciation was cited as a factor behind overseas sales falling below the previous year's level for the full year. - FY2018-Q3WorsenedAnnual report
「Overseas sales volumes exceeded the previous year's level as the recovery trend in Southeast Asia continued and efforts were made to expand sales in response to growing customer demand. However, because the yen remained stronger than in the previous year during the first half, sales were roughly in line with the year-earlier level.」
The situation changed from export growth driven by yen depreciation in the previous quarter to overseas sales remaining roughly at the year-earlier level due to yen appreciation in the first half. - FY2018-Q1WorsenedAnnual report
「In overseas markets, sales volume exceeded the previous year as Southeast Asia continued to recover and the company made sales expansion efforts in response to growing customer demand. However, sales fell below the same period of the previous year because the yen remained stronger than the previous year during the fiscal year.」
Yen appreciation has again emerged as a factor behind the year-on-year decline in overseas sales during the quarter. - FY2017-Q3MitigatedAnnual report
「Although the yen appreciated somewhat in the third quarter, sales exceeded the year-earlier level as efforts to expand sales in response to growing demand in the region proved effective.」
Although the yen appreciated somewhat, exports to Southeast Asia exceeded the year-earlier level, with the impact of yen appreciation on sales offset by efforts to expand sales. - FY2017-Q2RestatedAnnual report
「Regarding exports, sales benefited from signs of recovery among customers in Southeast Asia and the yen remaining weak during the second quarter,」
The yen remained weaker after the previous period of yen appreciation, and this was cited as a factor behind the increase in export sales. - FY2017-Q1MitigatedAnnual report
「Partly because the yen remained weaker than in the previous year, sales of rubber chemicals in both the domestic and overseas markets exceeded the year-earlier level.」
The situation shifted from a full-year decline in export sales due to yen appreciation, with yen depreciation cited as a factor behind the increase in sales during the quarter. - FY2016RestatedAnnual report
「However, as the yen remained stronger than in the previous year over the full year, sales declined year on year.」
The filing states that the yen remained stronger than in the previous year over the full year, becoming a factor behind the decline in export sales. - FY2016-Q3WorsenedAnnual report
「In the third quarter, the yen appreciated further from the second quarter, resulting in a year-on-year decline in sales.」
The filing states that further yen appreciation from the second quarter led to a year-on-year decline in export sales. - FY2016-Q2First statedAnnual report
「In the second quarter, the yen appreciated further, resulting in a year-on-year decline in sales.」
The appreciation of the yen is reflected in the actual results explanation as a factor behind the decline in export sales.