Foreign Exchange Rate Fluctuations, Including Yen Appreciation
First written in FY2016. 3 of 5 entries say "Restated". Latest entry: FY2024-Q2.
The whole theme swung hardest in 2025: 70 of 159 companies on the "Worse" side.
- FY2024-Q2MaterialisedAnnual report
「Meanwhile, although the Japanese economy continues to recover gradually, concerns remain about the impact on the domestic economy of higher resource and energy prices, increased import costs resulting from yen depreciation, rising prices and tight supply, changes in the global financial environment, and rising geopolitical risks. The outlook therefore remains uncertain.」
Regarding foreign exchange movements, it notes that, in addition to the previous indirect impact of yen appreciation on customers, the ongoing depreciation of the yen has increased import costs, affecting the domestic economy. - FY2023RestatedAnnual report
「If foreign exchange movements occur as a result of the factors described above, the impact on our Group's foreign exchange gains and losses is limited because our transactions are generally conducted in yen. However, customers need to obtain yen, which could indirectly affect their capital investment decisions, ultimately leading to declines in orders received and sales and affecting operating results and financial position.」
It reiterates that yen-denominated transactions limit the direct impact on foreign exchange gains and losses, while customers' need to obtain yen could indirectly affect capital investment and orders received. - FY2020RestatedAnnual report
「If foreign exchange movements occur as a result of the factors described above, the impact on our Group's foreign exchange gains and losses is limited because our transactions are generally conducted in yen. However, customers need to obtain yen, which could indirectly affect their capital investment decisions, ultimately leading to declines in orders received and sales and affecting operating results and financial position.」
It reiterates that yen-denominated transactions limit the direct impact on foreign exchange gains and losses, while customers' need to obtain yen could indirectly affect capital investment and orders received. - FY2017-Q2RestatedAnnual report
「Although exports account for 70–80% of our sales, our transactions are generally conducted in yen, which limits the impact of foreign exchange movements on operating results.」
It reiterates the previous explanation that, despite the high export ratio, conducting transactions primarily in yen limits the impact of foreign exchange movements. - FY2016First statedAnnual report
「Most of our Group's major products are manufactured to individual orders and, in principle, settled in yen, so the direct risk from foreign exchange fluctuations is limited. However, during periods of yen appreciation, indirect factors such as requests for price discounts could adversely affect our Group's operating results and financial position.」
It states that the direct risk is limited because transactions are generally settled in yen, while noting indirect risks such as requests for price discounts due to yen appreciation.