Impact on business performance from rapid yen appreciation and foreign exchange fluctuations
First written in FY2017-Q1. 4 of 11 entries say "Materialised", first in FY2017-Q2. Latest entry: FY2024-Q3.
Shinto Paint moved to the "Worse" side of this theme in 2016, 3 years before the typical company in this theme (2019).
The whole theme swung hardest in 2025: 70 of 158 companies on the "Worse" side.
29 other companies' latest entry also says "Restated".
- FY2024-Q3RestatedAnnual report
「The economic outlook remained uncertain due to rapid yen depreciation, concerns about a slowdown in overseas economies resulting from continued monetary tightening in Europe and the United States, persistently high global raw-material and resource prices caused by the prolonged situation in Ukraine, and expanding geopolitical risks resulting from the escalating conflict between Israel and Palestine.」
The difficult foreign exchange environment, including rapid yen depreciation, and the uncertainty over the outlook continue. - FY2024-Q2RestatedAnnual report
「Economic conditions remain uncertain, owing to factors including rapid yen depreciation, concerns over a slowdown in overseas economies, the prolonged situation in Ukraine, and persistently high global raw material and resource prices.」
The difficult foreign exchange environment, including rapid yen depreciation, and the uncertainty over the outlook continue. - FY2023-Q1WorsenedAnnual report
「The economic environment has become increasingly challenging due to sharp yen depreciation, the situation in Ukraine and soaring global raw material prices.」
The difficult foreign exchange environment, including sharp yen depreciation as well as the previously disclosed risk of yen appreciation, has been explicitly identified. - FY2022WorsenedAnnual report
「Conversely, if the yen depreciates against foreign currencies, this may indirectly raise the purchase prices of the various raw materials used by the Group. As the risks arising from foreign exchange rate fluctuations cannot be fully hedged」
In addition to the previously disclosed risks of weaker export competitiveness and lower export proceeds due to yen appreciation, the scope of risk now extends to higher raw material purchase prices due to yen depreciation and foreign exchange losses and translation effects at overseas affiliates. - FY2020RestatedAnnual report
「The Group exports products manufactured in Japan and imports raw materials from overseas, with the value of product exports exceeding the value of raw material imports. If the yen appreciates against foreign currencies, the price competitiveness of products manufactured overseas may decline, while the decrease in export proceeds will exceed the decrease in import payments.」
Given its business structure with exports exceeding imports, the Company has provided detailed disclosure of the risks of weaker price competitiveness and lower export proceeds resulting from yen appreciation. - FY2019MaterialisedAnnual report
「Foreign exchange loss 1」
Foreign exchange losses of ¥1 million were recorded in the consolidated income statement for the year, and the impact of foreign exchange movements on earnings has materialised. - FY2019-Q1MaterialisedAnnual report
「Due to a decline in equity-method investment income resulting from weaker performance at overseas affiliates, including the recognition of foreign exchange losses and higher raw material prices, ordinary income declined 13.8% year on year to ¥197 million, while net income attributable to owners of the parent declined 15.7% to ¥95 million.」
The decline in equity-method investment income associated with foreign exchange losses at overseas affiliates and other factors has materialised as declines in ordinary income and quarterly net income attributable to owners of the parent. - FY2018MitigatedAnnual report
「Ordinary income was ¥1,090 million, as foreign exchange losses incurred by overseas subsidiaries in the previous consolidated fiscal year did not occur in the current consolidated fiscal year, resulting in an improvement in non-operating income and expenses.」
Foreign exchange losses incurred by overseas subsidiaries in the previous year did not occur in the current year, mitigating the impact of foreign exchange movements on earnings compared with the previous year. - FY2017MaterialisedAnnual report
「Non-operating expenses Foreign exchange losses ¥123 million」
Foreign exchange losses of ¥123 million are recorded in the consolidated income statement for the year. The Company's narrative does not explicitly establish a causal relationship between the loss and yen appreciation. - FY2017-Q2MaterialisedAnnual report
「During the second quarter of the current consolidated cumulative fiscal period, the Japanese economy remained uncertain. Although the employment and income environment improved under the government’s economic policies, corporate earnings deteriorated due to rapid yen appreciation, capital investment remained sluggish, and concerns about a slowdown in emerging-market economies persisted.」
The report states that rapid yen appreciation has materialised as a deterioration in corporate earnings. Foreign exchange losses of ¥146 million are also recorded in the income statement, but the text does not explicitly establish a causal relationship between the loss and yen appreciation. - FY2017-Q1First statedAnnual report
「During the first quarter of the current consolidated cumulative fiscal period, the Japanese economy remained uncertain, amid rapid yen appreciation and concerns about slowdowns in the Chinese and emerging-market economies.」
Rapid yen appreciation is explicitly identified as a new external factor. Foreign exchange losses of ¥43 million are recorded in the income statement, but the text does not explicitly establish a causal relationship between the loss and yen appreciation.