Risk of Reduced Export Competitiveness and Earnings Pressure Due to Yen Appreciation
First written in FY2016. 15 of 33 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-08-07.
Techno Smart Corp. moved to the "Worse" side of this theme in 2022, 4 years after the typical company in this theme (2018).
The whole theme swung hardest in 2025: 14 of 17 companies on the "Worse" side.
1 other company's latest entry also says "Worsened".
- 2026-08-07WorsenedEarnings
「売上高に占める輸出の割合は、68.1%(前年同期は63.0%)となりました。」
円高時の競争力低下・収益圧迫につながり得る売上面の輸出エクスポージャーが前年同期比で上昇した。 - FY2026WorsenedAnnual report
「Exports accounted for 54.3% of sales, compared with 52.0% in the previous fiscal year. Exports accounted for 56.4% of orders received, compared with 51.9% in the previous fiscal year.」
Export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates increased from the previous fiscal year for both sales and orders received. - 2026-05-13WorsenedEarnings
「売上高に占める輸出の割合は、54.3%(前期は52.0%)となり、」
円高時の競争力低下・収益圧迫につながり得る輸出エクスポージャーが売上高ベースで上昇した。 - FY2026-H1WorsenedAnnual report
「Exports accounted for 58.2% of sales, compared with 49.2% in the same period of the previous fiscal year. Exports accounted for 69.1% of orders received, compared with 65.1% in the same period of the previous fiscal year.」
Export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates increased year on year for both sales and orders received. - FY2025-H1MitigatedAnnual report
「Exports accounted for 49.2% of sales (compared with 71.9% in the same period of the previous year).」
The export sales ratio fell from 71.9% in the same period of the previous fiscal year to 49.2%, reducing the quantified export sales exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2024MitigatedAnnual report
「Exports accounted for 63.2% of sales (compared with 84.0% in the previous fiscal year).」
The export sales ratio fell from 84.0% to 63.2%, reducing the quantified export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2024-Q3MitigatedAnnual report
「Exports accounted for 66.4% of sales (compared with 88.5% in the same period of the previous year).」
The export sales ratio fell from 88.5% in the same period of the previous fiscal year to 66.4%, reducing the quantified export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2024-Q2MitigatedAnnual report
「Exports accounted for 71.9% of sales (compared with 90.8% in the same period of the previous year).」
The export sales ratio fell from 90.8% in the same period of the previous fiscal year to 71.9%, reducing the quantified export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2023WorsenedAnnual report
「Exports accounted for 84.0% of sales (compared with 76.0% in the previous fiscal year).」
Export sales exposure increased from 76.0% in the previous fiscal year to 84.0%, potentially reducing competitiveness and putting pressure on earnings when the yen appreciates. - FY2023-Q3WorsenedAnnual report
「Exports accounted for 88.5% of sales (compared with 68.2% in the same period of the previous year).」
The export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates increased on a quantified basis from 68.2% in the same period of the previous fiscal year to 88.5%. - FY2023-Q2WorsenedAnnual report
「Exports accounted for 90.8% of sales (compared with 58.1% in the same period of the previous year).」
The export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates increased on a quantified basis from 58.1% in the same period of the previous fiscal year to 90.8%. - FY2022WorsenedAnnual report
「Exports accounted for 76.0% of sales (compared with 31.8% in the previous fiscal year).」
The export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates increased on a quantified basis from 31.8% in the previous fiscal year to 76.0%. - FY2022-Q3WorsenedAnnual report
「Exports accounted for 68.2% of sales (compared with 31.1% in the same period of the previous year).」
The export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates increased on a quantified basis from 31.1% in the same period of the previous fiscal year to 68.2%. - FY2022-Q2WorsenedAnnual report
「Exports accounted for 58.1% of sales (compared with 32.9% in the same period of the previous year).」
The export sales ratio rose from 32.9% in the same period of the previous fiscal year to 58.1%, increasing the quantified export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2021-Q3MitigatedAnnual report
「Exports accounted for 30.9% of revenue, compared with 82.2% in the same period of the previous year.」
The export sales ratio fell from 82.2% in the same period of the previous fiscal year to 30.9%, reducing the quantified export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2021-Q2MitigatedAnnual report
「Exports accounted for 32.8% of sales, compared with 86.2% in the same period of the previous fiscal year.」
The export sales ratio fell from 86.2% in the same period of the previous fiscal year to 32.8%, reducing the quantified export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2021-Q1MitigatedAnnual report
「Exports accounted for 45.1% of revenue, compared with 86.4% in the same period of the previous year.」
The export sales ratio fell from 86.4% in the same period of the previous fiscal year to 45.1%, reducing the quantified export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2020-Q3WorsenedAnnual report
「Exports accounted for 82.2% of revenue, compared with 81.5% in the same period of the previous year.」
The export sales ratio rose year on year, increasing the quantified export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2020-Q2WorsenedAnnual report
「Exports accounted for 86.2% of revenue, compared with 85.5% in the same period of the previous year.」
The export sales ratio rose from 85.5% in the same period of the previous fiscal year to 86.2%, increasing the quantified export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2020-Q1WorsenedAnnual report
「Exports accounted for 86.4% of revenue, compared with 76.3% in the same period of the previous year.」
The export sales ratio rose from 76.3% in the same period of the previous fiscal year to 86.4%, increasing the quantified export exposure that could reduce competitiveness and put pressure on earnings when the yen appreciates. - FY2019RestatedAnnual report
「To mitigate foreign-exchange risk, our overseas transactions are conducted primarily in yen. Purchases are also conducted primarily in yen, although some materials are procured from overseas and some components are manufactured by overseas subcontractors in foreign currencies. In such cases, we use foreign-exchange forward contracts, but significant foreign-exchange movements caused by rapid political or economic developments, followed by prolonged instability, may affect business performance and financial condition.」
The response to foreign-exchange risk was reconfirmed, with yen-denominated transactions used as the standard practice and foreign-exchange forward contracts used for some foreign-currency transactions. - FY2019-Q3RestatedAnnual report
「During the cumulative third-quarter period, no new business or other risks arose. In addition, there were no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
The risk of reduced export competitiveness and earnings pressure from yen appreciation was treated as involving no new risks or material changes. - FY2019-Q2RestatedAnnual report
「During the cumulative second-quarter period, no new business or other risks arose. In addition, there were no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
The risk of reduced export competitiveness and earnings pressure from yen appreciation was treated as involving no new risks or material changes. - FY2019-Q1RestatedAnnual report
「During the cumulative first-quarter period, no new business or other risks arose. In addition, there were no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
The risk of reduced export competitiveness and earnings pressure from yen appreciation was treated as involving no new risks or material changes. - FY2018RestatedAnnual report
「To mitigate foreign-exchange risk, our overseas transactions are conducted primarily in yen. Purchases are also conducted primarily in yen, although some materials are procured from overseas and some components are manufactured by overseas subcontractors in foreign currencies. In such cases, we use foreign-exchange forward contracts, but significant foreign-exchange movements caused by rapid political or economic developments, followed by prolonged instability, may affect business performance and financial condition.」
Foreign-exchange risk continued to be reported, along with the use of yen-denominated transactions as the standard practice and foreign-exchange forward contracts for some foreign-currency transactions. - FY2018-Q3RestatedAnnual report
「During the cumulative third-quarter period, no new business or other risks arose. In addition, there were no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
The risk of reduced export competitiveness and earnings pressure from yen appreciation was treated as involving no new risks or material changes. - FY2018-Q2RestatedAnnual report
「During the cumulative second-quarter period, no new business or other risks arose. In addition, there were no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
The risk of reduced export competitiveness and earnings pressure from yen appreciation was treated as involving no new risks or material changes. - FY2018-Q1RestatedAnnual report
「During the cumulative first-quarter period, no new business or other risks arose. In addition, there were no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
The risk of reduced export competitiveness and earnings pressure from yen appreciation was treated as involving no new risks or material changes. - FY2017RestatedAnnual report
「When exports account for a high proportion of sales, worsening international conditions or yen appreciation through foreign-exchange movements may reduce competitiveness and put pressure on earnings.」
The risk that worsening international conditions and yen appreciation may reduce competitiveness and put pressure on earnings when exports account for a high proportion of sales was reconfirmed. - FY2017-Q3RestatedAnnual report
「During the cumulative third-quarter period, no new business or other risks arose. In addition, there were no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
No new risks or material changes were reported regarding the risk of reduced export competitiveness and earnings pressure from yen appreciation. - FY2017-Q2WorsenedAnnual report
「The domestic economy remained stagnant, as the recovery stalled amid yen appreciation against a backdrop of instability in the global economy, sluggish personal consumption and deteriorating profitability at export companies. Exports accounted for 67.5% of sales, compared with 42.8% in the same period of the previous fiscal year, owing to an increase in energy-related equipment for overseas markets.」
Although continued yen appreciation and deteriorating profitability at export companies were reported, the company's export sales ratio rose from 42.8% in the same period of the previous fiscal year to 67.5%, increasing its quantified foreign-exchange exposure. - FY2017-Q1WorsenedAnnual report
「The domestic economy weakened as economic sentiment deteriorated because of declining profit margins at export-related companies due to rapid yen appreciation and sluggish personal consumption. Exports accounted for 54.7% of sales, compared with 42.5% in the same period of the previous fiscal year.」
While pressure on the earnings of export-related companies from rapid yen appreciation was reported, the company's export sales ratio rose from the same period of the previous fiscal year, increasing its quantified foreign-exchange exposure. - FY2016First statedAnnual report
「With exports accounting for 35.4% of sales, yen appreciation may reduce competitiveness and put pressure on earnings through foreign-exchange movements.」
Based on exports accounting for 35.4% of sales, the company identified the impact of yen appreciation on competitiveness and earnings as a risk.