Non-speculative hedging of foreign exchange and interest rate fluctuation risk
First written in FY2016. 2 of 5 entries say "Restated". Latest entry: FY2024.
0 other companies' latest entry also says "Achieved".
- FY2024AchievedAnnual report
「For transactions applying cash flow hedge accounting, with borrowings referencing US dollar LIBOR designated as hedged items and interest rate and currency swaps designated as hedging instruments, the transition to alternative benchmark rates replacing LIBOR was completed during the consolidated fiscal year. Accordingly, at the end of the consolidated fiscal year, there were no financial instruments referencing LIBOR that had not transitioned to alternative benchmark rates.」
As a response to the cessation of LIBOR, the transition to alternative benchmark rates was completed, leaving no LIBOR-referencing financial instruments that had not transitioned at the fiscal year-end. - FY2022AdvancedAnnual report
「Because the Group is affected by this reform of interest rate benchmarks, it is monitoring developments, assessing the impact and preparing to transition to alternative benchmark rates to replace LIBOR.」
While continuing its policy of non-speculative interest rate and foreign exchange hedging, the Group proceeded with preparations to transition to alternative benchmark rates in response to the cessation of LIBOR. The notional principal of interest rate and currency swaps referencing US dollar LIBOR was ¥7,588.1 million. - FY2019RestatedAnnual report
「Under the Group's risk management policy, approximately 100% of the foreign exchange risk estimated for projected sales over the following 3 months is to be hedged at all times.」
The policy of hedging foreign exchange and interest rate movements and not engaging in speculative transactions continues. The operating standard of hedging approximately 100% of the foreign exchange risk associated with projected sales over the following 3 months through forward foreign exchange contracts was specified. - FY2017-Q3RestatedAnnual report
「Foreign exchange and interest rate risks are hedged.」
The policy of hedging foreign exchange and interest rate risks also continues to apply to borrowings used to fund acquisitions. - FY2016First statedAnnual report
「The policy is to use derivatives to mitigate interest rate and foreign exchange risks and not to enter into speculative transactions.」
Forward foreign exchange contracts and interest rate swaps are used solely for risk mitigation, not for speculative purposes.