Risk of earnings pressure from a stronger yen
First written in FY2017-Q1. 16 of 35 entries say "Restated". Latest entry: 2026-08-04.
The whole theme swung hardest in 2025: 72 of 160 companies on the "Worse" side.
- 2026-08-04MitigatedResults
「In addition to the yen being weaker year on year, shipment volumes increased for optical transceiver products for data centers in the optical semiconductor business.」
The year-on-year weakening of the yen was cited as a factor supporting performance. This does not indicate that foreign-exchange risk itself has been eliminated. - FY2026RestatedAnnual report
「The Group is exposed to the risk of fluctuations in foreign exchange rates, mainly in transactions involving sales of products denominated in foreign currencies. Such fluctuations may affect the Group's financial position, operating results and cash flows.」
Foreign exchange risk was classified as moderately significant, and hedging through forward exchange contracts and currency option transactions continues. - FY2026-H1WorsenedAnnual report
「Despite the yen's appreciation, sales of high-value-added products such as optoelectronic semiconductors and shape-processing anisotropic conductive film (ACF) for camera modules expanded.」
Following a period in which the weaker yen boosted results, the current interim period identified the yen's appreciation as a factor weighing on the earnings environment. - FY2025MitigatedAnnual report
「The yen weakened against the previous period during the current period, providing a boost to results.」
Currency fluctuation risk itself continues to be disclosed, but the weaker yen was a factor boosting results in the current period. U.S. dollar foreign exchange exposure also declined from ¥15,405 million in the previous period to ¥4,510 million. - FY2024WorsenedAnnual report
「Ordinary profit was ¥30,028 million, down 0.5% from the previous consolidated fiscal year, due mainly to an increase in foreign exchange losses.」
The foreign exchange loss was ¥3,357 million, up from ¥2,019 million in the previous period. The downward pressure on ordinary profit from currency fluctuations increased over the full year. - FY2024-Q3WorsenedAnnual report
「Ordinary profit was ¥23,352 million, down 14.2% year on year, due mainly to an increase in foreign exchange losses」
The foreign exchange loss increased from ¥2,076 million in the year-earlier period to ¥3,385 million, magnifying the downward pressure on ordinary profit from currency fluctuations. - FY2024-Q2WorsenedAnnual report
「Ordinary profit was ¥13,569 million, down 26.5% year on year, due mainly to an increase in foreign exchange losses」
The foreign exchange loss increased from ¥1,147 million in the year-earlier period to ¥1,601 million, and currency fluctuations continued to weigh on ordinary profit. - FY2023WorsenedAnnual report
「Non-operating expenses were ¥2,472 million, an increase of ¥568 million from the previous consolidated fiscal year. The main factor was an increase in foreign exchange losses.」
The foreign exchange loss increased from ¥1,130 million in the previous period to ¥2,019 million, and currency fluctuations continued to weigh on ordinary profit while the yen was weakening. - FY2023-Q3WorsenedAnnual report
「Ordinary profit was ¥27,214 million, up 40.7% year on year, due mainly to an increase in foreign exchange losses」
The foreign exchange loss increased from ¥1,160 million in the year-earlier period to ¥2,076 million, magnifying the downward pressure on ordinary profit from currency fluctuations. - FY2023-Q2WorsenedAnnual report
「Ordinary profit was ¥18,549 million, up 61.6% year on year, due mainly to an increase in foreign exchange losses」
The foreign exchange loss increased from ¥681 million in the year-earlier period to ¥1,147 million, and currency fluctuations continued to weigh on ordinary profit. - FY2023-Q1WorsenedAnnual report
「Ordinary profit was ¥7,260 million, up 60.9% year on year, due mainly to an increase in foreign exchange losses」
The foreign exchange loss increased from ¥318 million in the year-earlier period to ¥1,102 million, magnifying the downward pressure on ordinary profit from currency fluctuations even as the yen weakened. - FY2022WorsenedAnnual report
「Ordinary profit was ¥25,023 million, up 130.8% from the previous consolidated fiscal year, due mainly to an increase in foreign exchange losses.」
The foreign exchange loss increased from ¥83 million in the previous period to ¥1,130 million in the current period, magnifying the downward pressure on ordinary profit from currency fluctuations. - FY2022-Q3WorsenedAnnual report
「Ordinary profit was ¥19,336 million, up 133.7% year on year, as the increase in operating profit was offset by an increase in foreign exchange losses and other factors.」
The foreign exchange loss increased from ¥26 million in the year-earlier period to ¥1,160 million in the cumulative third-quarter period, magnifying the downside from currency fluctuations. - FY2022-Q2WorsenedAnnual report
「Ordinary profit was ¥11,478 million, up 144.4% year on year, as the Company recorded a foreign exchange gain in the year-earlier period but a foreign exchange loss in the current period, among other factors.」
Against the foreign exchange gain in the year-earlier period, a foreign exchange loss of ¥681 million was recorded in the cumulative second-quarter period. As in the first quarter, currency fluctuations weighed on ordinary profit, and the loss increased. - FY2022-Q1WorsenedAnnual report
「Ordinary profit was ¥4,513 million, up 263.6% year on year, as the Company recorded a foreign exchange gain in the year-earlier period but a foreign exchange loss in the current period, among other factors.」
Against the foreign exchange gain of ¥73 million in the year-earlier period, a foreign exchange loss of ¥318 million was recorded in the first quarter of the current period, and currency fluctuations continued to weigh on ordinary profit. - FY2021WorsenedAnnual report
「Non-operating expenses were ¥691 million, an increase of ¥33 million from the previous consolidated fiscal year. The main factor was the newly incurred foreign exchange loss.」
Against the foreign exchange gain of ¥174 million in the previous year, a foreign exchange loss of ¥83 million was incurred in the current period, and currency fluctuations again shifted to weighing on results. - FY2021-Q3WorsenedAnnual report
「Ordinary profit was ¥8,275 million, up 96.5% year on year, as the Company recorded a foreign exchange gain in the year-earlier period but a foreign exchange loss in the current period, among other factors.」
Against the foreign exchange gain in the year-earlier period, a foreign exchange loss of ¥26 million was recorded in the cumulative third-quarter period, and currency fluctuations shifted to weighing on ordinary profit. - FY2021-Q2RestatedAnnual report
「Ordinary profit was ¥4,697 million, up 61.4% year on year, due to the recording of a foreign exchange gain, partly offset by the recording of an equity-method investment loss and other factors.」
Foreign exchange gains continued to affect ordinary profit, and the impact of currency fluctuations was also noted in the cumulative current-quarter results. - FY2021-Q1RestatedAnnual report
「Ordinary profit was ¥1,241 million, up 36.5% year on year, due mainly to an increase in foreign exchange gains」
Foreign exchange gains increased from ¥35 million in the year-earlier period to ¥73 million, and the impact of currency fluctuations continued to be reflected in ordinary profit. - FY2020RestatedAnnual report
「Non-operating income was ¥434 million, a decrease of ¥114 million from the previous consolidated fiscal year. The main factor was a decline in foreign exchange gains.」
Foreign exchange gains were ¥174 million, down from ¥266 million in the previous period. Currency fluctuations continued to affect ordinary profit. - FY2020-Q3RestatedAnnual report
「Ordinary profit was ¥4,210 million, up 5.9% year on year, as the increase in operating profit was offset by the recording of an equity-method investment loss, a decline in foreign exchange gains and other factors」
Foreign exchange gains declined from ¥248 million in the year-earlier period to ¥72 million, and currency fluctuations continued to affect ordinary profit in the cumulative current-quarter results. - FY2020-Q2RestatedAnnual report
「Ordinary profit was ¥2,911 million, up 29.2% year on year, as the increase in operating profit was offset by a decline in foreign exchange gains and other factors」
Foreign exchange gains declined from ¥411 million in the year-earlier period to ¥262 million, but a foreign exchange gain was recorded in the cumulative current-quarter results as well, indicating that currency fluctuations affected ordinary profit. - FY2019RestatedAnnual report
「Ordinary profit was ¥3,903 million, down 31.3% from the previous consolidated fiscal year, due mainly to the recording of a foreign exchange gain of ¥266 million.」
Foreign exchange gains contributed to ordinary profit for the full year, while business and other risks continued to include the possibility of earnings deterioration due to currency fluctuations and hedging through forward exchange contracts and other measures. - FY2019-Q3RestatedAnnual report
「Ordinary profit was ¥3,974 million, down 37.1% year on year, due mainly to the recording of a foreign exchange gain」
A foreign exchange gain of ¥248 million was recorded in the cumulative third-quarter period as well. Foreign exchange gains, rather than the downside from the yen's appreciation and foreign exchange losses, contributed to ordinary profit. - FY2019-Q2RestatedAnnual report
「Ordinary profit was ¥2,253 million, down 42.3% year on year, due mainly to the recording of a foreign exchange gain.」
A foreign exchange gain of ¥411 million was recorded in the cumulative current-quarter results as well, so foreign exchange gains, rather than the yen's appreciation and foreign exchange losses, contributed to ordinary profit. - FY2019-Q1RestatedAnnual report
「Ordinary profit was ¥661 million, down 66.8% year on year, due mainly to the recording of a foreign exchange gain」
A foreign exchange gain of ¥347 million was recorded, so foreign exchange gains, rather than the yen's appreciation and foreign exchange losses, contributed to ordinary profit in the current quarter as well. No material changes were identified in business and other risks. - FY2018RestatedAnnual report
「Japan's economy remained on a generally moderate recovery track, with corporate earnings recovering and employment conditions continuing to improve, although the yen appreciated from the start of the year and financial markets showed signs of instability, leaving the outlook uncertain.」
The yen's continued appreciation was cited as an uncertain factor in the operating environment, and a full-year foreign exchange loss of ¥296 million was recorded. - FY2018-Q3RestatedAnnual report
「In the optical resin materials category, sales of existing SVR products for smartphones and other applications declined, while increased sales of resin for precision bonding and the impact of the weaker yen resulted in lower revenue but higher profit.」
In the cumulative current-quarter results, the weaker yen, rather than the downside from yen appreciation, was cited as a factor behind higher profit in optical resin materials. No material changes were identified in business and other risks. - FY2018-Q2RestatedAnnual report
「Ordinary profit was ¥3,907 million, up ¥2,981 million year on year, due mainly to the recording of a foreign exchange gain」
In contrast to the yen's appreciation and foreign exchange losses that weighed on results in the previous period, foreign exchange gains continued to contribute to ordinary profit in the cumulative current-quarter results. - FY2018-Q1MitigatedAnnual report
「Ordinary profit was ¥1,995 million, up ¥1,836 million year on year, due mainly to the recording of a foreign exchange gain」
In contrast to the yen's appreciation and foreign exchange losses that weighed on results in the previous period, the weaker yen and foreign exchange gains contributed to results in the current quarter. - FY2017-Q3RestatedAnnual report
「During the third quarter of the current consolidated cumulative period, sales of optical films increased, but the yen's appreciation and lower sales of anisotropic conductive film (ACF) and optical resin materials resulted in revenue of ¥44,026 million, down 9.6% year on year, and operating profit of ¥2,761 million, down 58.6%.」
The impact of the yen's appreciation continued to be cited as a factor behind lower revenue and profit in the cumulative third-quarter results, and a foreign exchange loss was recorded in the current period. - FY2017-Q2RestatedAnnual report
「During the six months ended the second quarter of the fiscal year under review, the Group's results were affected by the stronger yen and lower sales of anisotropic conductive film (ACF) and optical resin materials. Revenue was ¥27,373 million, down 13.4% year on year, and operating profit was ¥1,437 million, down 67.0%.」
The impact of yen appreciation continued to be cited as a factor behind the revenue and profit declines in the first half, and a foreign exchange loss of ¥471 million was recorded. - FY2017-Q1First statedAnnual report
「During the first quarter of the fiscal year, the Group's consolidated results were affected by the stronger yen and lower sales of anisotropic conductive film (ACF) and bonding-related materials. Revenue was ¥12,832 million, down 13.2% year on year, and operating profit was ¥553 million, down 69.6%.」
The impact of yen appreciation was reflected in actual results as a factor behind the quarterly revenue and profit decline. The Group also recorded a foreign exchange loss of ¥374 million.