Risk of fluctuations in foreign exchange rates
First written in FY2016. 21 of 39 entries say "Mitigated", first in FY2018-Q1. Latest entry: 2026-08-07.
The whole theme swung hardest in 2025: 71 of 159 companies on the "Worse" side.
- FY2026MitigatedAnnual report
「In non-operating income and expenses, the recording of foreign exchange gains of ¥19,693 million (compared with foreign exchange losses of ¥4,468 million in the prior fiscal year), among other factors, brought ordinary profit to ¥235,591 million (up 12.2% year on year).」
Foreign exchange losses of ¥4,468 million in the prior fiscal year turned into foreign exchange gains of ¥19,693 million in the current fiscal year, making the impact of foreign exchange movements on current-period earnings a profit driver. The policy of increasing purchases denominated in foreign currencies and reviewing cash allocations continues. - 2026-05-14MitigatedRevision of earnings forecasts
「The increase in foreign exchange gains was the main factor driving the increase in profit.」
The company shifted from a foreign exchange loss in the previous fiscal year to a foreign exchange gain in the current fiscal year, which benefited ordinary profit. There was no statement that foreign exchange risk itself had disappeared. - FY2026-H1MitigatedAnnual report
「Ordinary profit was ¥107,916 million (up 3.5% year on year). The increase in foreign exchange gains was the main factor behind the increase in earnings.」
Foreign exchange losses in the same interim period of the prior year turned into increased foreign exchange gains in the current interim consolidated accounting period, contributing to the increase in ordinary profit. The impact of foreign exchange movements remained, but was a profit driver in the current period's reported results. - FY2025WorsenedAnnual report
「In non-operating income and expenses, interest income resulting from rising market interest rates amounted to ¥20,237 million (up 9.6% year on year), but foreign exchange losses amounted to ¥4,468 million (compared with foreign exchange gains of ¥24,486 million in the prior fiscal year), bringing ordinary profit to ¥209,921 million (down 16.4% year on year).」
Foreign exchange gains of ¥24,486 million in the prior fiscal year turned into foreign exchange losses of ¥4,468 million in the current fiscal year, and the adverse impact of foreign exchange movements emerged in full-year earnings. - FY2025-H1WorsenedAnnual report
「Ordinary profit was ¥104,283 million (down 22.6% year on year). The increase in foreign exchange losses was the main factor behind the decline in earnings.」
The stronger yen resulted in foreign exchange losses of ¥8,155 million, an adverse reversal from foreign exchange gains of ¥18,771 million in the same interim period of the prior year. The impact of foreign exchange movements emerged as a factor weighing on earnings. - FY2024Lower foreign exchange gains to continue throughout the full fiscal yearAnnual report
「In non-operating income and expenses, foreign exchange gains amounted to ¥24,486 million (down 13.2% year on year), while interest income resulting from rising market interest rates amounted to ¥18,461 million (up 57.5%), bringing ordinary profit to ¥251,008 million (down 18.0%).」
Despite the weaker-yen trend, foreign exchange gains declined from ¥28,203 million in the prior fiscal year to ¥24,486 million, and foreign exchange movements continued to affect earnings. However, the increase in interest income partly offset the impact on ordinary profit. - FY2024-Q3Continued downward pressure on earnings from lower foreign exchange gainsAnnual report
「Ordinary profit was ¥185,594 million (down 20.8% year on year). In addition to the effects described above, the decline in foreign exchange gains was the main factor behind the decline in earnings.」
Foreign exchange gains declined from ¥26,087 million in the same quarter of the prior year to ¥13,486 million, and remained a factor behind the decline in ordinary profit even as the yen continued to weaken. - FY2024-Q2Continued downward pressure on earnings from lower foreign exchange gainsAnnual report
「In addition to the effects described above, foreign exchange gains declined because the yen weakened at a relatively slower pace than in the same quarter of the prior year, when the yen depreciated substantially. This was the main factor behind the decline in earnings.」
Although the yen continued to weaken, its depreciation was less pronounced than in the same quarter of the prior year, and foreign exchange gains declined from ¥40,470 million to ¥18,771 million. Foreign exchange movements continued to weigh on ordinary profit. - FY2024-Q1Downward pressure on profit from the decrease in foreign exchange gainsAnnual report
「Ordinary profit was ¥74,801 million (down 28.1% year on year). Although the yen weakened, foreign exchange gains declined because the yen's depreciation was relatively less pronounced than in the same quarter of the prior year.」
Although the yen continued to weaken, its depreciation was less pronounced than in the same quarter of the prior year, and foreign exchange gains declined from ¥33,404 million to ¥13,684 million. Foreign exchange movements continued to affect earnings. - FY2023MitigatedAnnual report
「We are working to increase purchases denominated in foreign currencies, but there are limits to what we can do because our manufacturing base is in Japan. We are currently reviewing the allocation of cash within the Group and taking steps to reduce assets denominated in emerging-market currencies, which are particularly susceptible to foreign exchange movements.」
We continue to increase purchases denominated in foreign currencies and reduce assets denominated in emerging-market currencies by reviewing the allocation of cash within the Group. This period, we recorded foreign exchange gains of ¥28,203 million, with the weaker yen serving as a profit driver in the reported results. - FY2023-Q3MitigatedAnnual report
「Higher interest income resulting from rising market interest rates and increased foreign exchange gains resulting from the weaker yen brought ordinary profit to ¥234,305 million (up 19.8% year on year).」
Increased foreign exchange gains resulting from the weaker yen contributed to the increase in ordinary profit, and foreign exchange movements continued to be a profit driver in the current quarter. Foreign exchange gains included in non-operating income amounted to ¥26,087 million. - FY2023-Q2MitigatedAnnual report
「Higher interest income resulting from rising market interest rates and increased foreign exchange gains resulting from the weaker yen brought ordinary profit to ¥180,725 million (up 43.3% year on year).」
Increased foreign exchange gains resulting from the weaker yen contributed to the increase in ordinary profit. Although foreign exchange movements continued to have an impact, they appeared as a profit driver rather than an adverse factor in the current quarter. - FY2023-Q1MitigatedAnnual report
「Higher interest income resulting from rising market interest rates and increased foreign exchange gains resulting from the weaker yen brought ordinary profit to ¥104,008 million (up 69.5% year on year).」
The weaker yen resulted in foreign exchange gains of ¥33,404 million, making foreign exchange movements a profit driver in the current quarter. Although the impact of foreign exchange movements continued, they did not have an adverse impact on the reported results. - FY2022MitigatedAnnual report
「We are working to increase purchases denominated in foreign currencies, but there are limits to what we can do because our manufacturing base is in Japan. We are currently reviewing the allocation of cash within the Group and taking steps to reduce assets denominated in emerging-market currencies, which are particularly susceptible to foreign exchange movements.」
We continue to increase purchases denominated in foreign currencies and reduce assets denominated in emerging-market currencies by reviewing the allocation of cash within the Group. This period, the weaker yen resulted in foreign exchange gains of ¥33,144 million, which were a profit driver in the results. - FY2022-Q3MitigatedAnnual report
「Although interest income declined, foreign exchange losses in the same quarter of the prior year turned into foreign exchange gains as a result of the weaker yen, bringing ordinary profit to ¥195,651 million (up 78.1% year on year).」
Foreign exchange losses in the same quarter of the prior year turned into foreign exchange gains of ¥12,166 million as a result of the weaker yen. Foreign exchange movements continued to affect earnings, but were a profit driver for the cumulative current period. - FY2022-Q1MitigatedAnnual report
「Although interest income declined, foreign exchange gains resulting from the weaker yen brought ordinary profit to ¥61,366 million (up 66.9% year on year), profit before income taxes to ¥61,411 million (up 68.7%), and profit attributable to owners of the parent to ¥45,963 million (up 98.0%).」
Foreign exchange losses in the same quarter of the prior year turned into foreign exchange gains resulting from the weaker yen in the current quarter. Foreign exchange movements continued to affect earnings, but were a profit driver in the current quarter. - FY2021MitigatedAnnual report
「We are working to increase purchases denominated in foreign currencies, but there are limits to what we can do because our manufacturing base is in Japan. We are currently reviewing the allocation of cash within the Group and taking steps to reduce assets denominated in emerging-market currencies, which are particularly susceptible to foreign exchange movements.」
As measures to address foreign exchange risk, we are increasing purchases denominated in foreign currencies and reviewing the allocation of cash within the Group to reduce assets denominated in emerging-market currencies. This period, the weaker yen resulted in foreign exchange gains of ¥8,570 million. - FY2021-Q3MitigatedAnnual report
「Ordinary profit was ¥109,866 million, down 4.6%, mainly because, although the foreign exchange loss decreased from the same quarter of the previous year, interest income also declined, among other factors.」
Foreign exchange losses for the cumulative third quarter amounted to ¥3,344 million, down from ¥5,189 million in the same quarter of the prior year. Foreign exchange movements continued to affect earnings, but the adverse impact was lower year on year. - FY2021-Q2MitigatedAnnual report
「Ordinary profit was ¥68,272 million, down 6.4%, mainly because the foreign exchange loss declined substantially from the same quarter of the previous year.」
The foreign exchange loss during the cumulative second quarter of the current fiscal year was ¥1,931 million, a substantial decrease from ¥7,626 million in the same quarter of the previous year. Foreign exchange movements continue to affect profit and loss, but their adverse impact was lower year on year. - FY2021-Q1MitigatedAnnual report
「Ordinary profit was ¥36,769 million, up 0.0%, mainly because the foreign exchange loss declined substantially from the previous fiscal year.」
The foreign exchange loss during the current first quarter was ¥1,257 million, a substantial decrease from ¥5,774 million in the same quarter of the previous year. Foreign exchange movements continue to affect profit and loss, but the adverse impact was lower than in the same quarter of the previous year. - FY2020WorsenedAnnual report
「As our group’s overseas business expands, the possibility of these risks materializing is increasing. Based on past experience, it is expected that foreign exchange movements will have a relatively substantial impact on business performance and financial position approximately once every 2 to 3 years.」
It explicitly states that the possibility of foreign exchange rate risk materializing has increased with the expansion of the overseas business, and that a foreign exchange loss of ¥3,335 million due to the stronger yen was recorded during the current fiscal year. - FY2020-Q3WorsenedAnnual report
「Foreign exchange loss 5,189」
The stronger yen resulted in a foreign exchange loss of ¥5,189 million during the cumulative third quarter of the current fiscal year. The impact shifted adversely from a ¥2,974 million foreign exchange gain in the same quarter of the previous year, and the adverse impact of foreign exchange movements is continuing. - FY2020-Q2WorsenedAnnual report
「Ordinary profit was ¥72,972 million, down 35.1%, mainly due to the foreign exchange loss resulting from the stronger yen.」
During the cumulative second quarter of the current fiscal year, the stronger yen resulted in a foreign exchange loss of ¥7,626 million, a deterioration from the ¥7,867 million foreign exchange gain in the same quarter of the previous year. The adverse impact of foreign exchange movements on business performance is continuing and increasing. - FY2020-Q1WorsenedAnnual report
「A foreign exchange loss of ¥5,774 million was recorded due to the stronger yen, compared with a foreign exchange gain of ¥5,025 million in the same quarter of the previous year, among other factors, resulting in ordinary profit of ¥36,767 million, down 40.3%.」
The impact shifted from a foreign exchange gain due to the weaker yen in the same quarter of the previous year to a ¥5,774 million foreign exchange loss due to the stronger yen during the quarter. The adverse impact of foreign exchange movements on business performance has materialized again. - FY2019MitigatedAnnual report
「In non-operating income and expenses, a foreign exchange gain of ¥2,827 million was recorded due to the weaker yen toward the end of the fiscal year, compared with a foreign exchange loss of ¥6,025 million in the previous fiscal year. In addition, financial income exceeded financial expenses by ¥11,324 million, up 26.5%, resulting in ordinary profit of ¥198,201 million, up 0.7%,」
The impact shifted from a ¥6,025 million foreign exchange loss in the previous fiscal year to a ¥2,827 million foreign exchange gain during the current fiscal year due to the weaker yen, making it a positive factor for profit in the current fiscal year. - FY2019-Q3Downward pressure on profit from the decrease in foreign exchange gainsAnnual report
「Ordinary profit was ¥154,319 million, down 1.9%, mainly due to the decrease in foreign exchange gains.」
The foreign exchange gain during the cumulative third quarter of the current fiscal year was ¥2,974 million, down from ¥5,581 million in the same quarter of the previous year. Foreign exchange movements continued to affect profit, and the decrease in the foreign exchange gain reduced ordinary profit this time, but the impact did not turn into a foreign exchange loss. - FY2019-Q2MitigatedAnnual report
「Ordinary profit was ¥112,360 million, up 8.6%, mainly due to the recording of a foreign exchange gain resulting from the weaker yen against the US dollar.」
During the cumulative second quarter of the current consolidated fiscal year, the weaker yen against the US dollar resulted in a foreign exchange gain of ¥7,867 million. Foreign exchange movements continue to affect profit and loss, but were a positive factor for profit during the quarter. - FY2019-Q1MitigatedAnnual report
「Ordinary profit was ¥61,629 million, up 23.5%, mainly because the weaker yen toward the end of the quarter resulted in a foreign exchange gain of ¥5,025 million, compared with a gain of ¥585 million in the same quarter of the previous year.」
The weaker yen resulted in a foreign exchange gain of ¥5,025 million, up from ¥585 million in the same quarter of the previous year. Foreign exchange movements continue to affect profit and loss, but were a positive factor for profit during the quarter. - FY2018WorsenedAnnual report
「In non-operating income and expenses, a foreign exchange loss of ¥6,025 million was recorded due to the stronger yen toward the end of the fiscal year, compared with ¥2,054 million in the previous fiscal year. However, financial income exceeded financial expenses by ¥8,949 million, up 30.7%, resulting in ordinary profit of ¥196,846 million, up 32.8%,」
The stronger yen toward the end of the fiscal year resulted in a foreign exchange loss of ¥6,025 million, up from ¥2,054 million in the previous fiscal year. The risk of foreign exchange movements adversely affecting full-year profit and loss has increased again. - FY2018-Q3MitigatedAnnual report
「Ordinary profit was ¥157,359 million, up 40.1%, as foreign exchange rates remained relatively stable.」
Foreign exchange rates remained relatively stable, and a foreign exchange gain of ¥5,581 million was recorded during the cumulative third quarter of the current consolidated fiscal year. Foreign exchange rate risk remains, but its actual impact continues to decline. - FY2018-Q2MitigatedAnnual report
「Ordinary profit was ¥103,446 million, up 91.0%, mainly because stable foreign exchange rates resulted in a foreign exchange gain of ¥3,178 million, compared with a foreign exchange loss of ¥18,030 million in the same quarter of the previous year.」
Due to stable foreign exchange rates, the impact shifted from a ¥18,030 million foreign exchange loss in the same quarter of the previous year to a ¥3,178 million foreign exchange gain during the quarter. The actual impact of foreign exchange rate risk continued to decline. - FY2018-Q1MitigatedAnnual report
「Ordinary profit was ¥49,884 million, up 105.6%, mainly because stable foreign exchange rates resulted in a foreign exchange gain of ¥585 million, compared with a foreign exchange loss of ¥15,252 million in the same quarter of the previous year.」
Foreign exchange rates remained stable, and the impact shifted from a ¥15,252 million foreign exchange loss in the same quarter of the previous year to a ¥585 million foreign exchange gain during the quarter. Foreign exchange rate risk may continue to affect business performance, but its actual impact during the quarter was reduced. - FY2017MaterialisedAnnual report
「Although the stronger yen reduced revenue, operating profit rose 5.1% to ¥141,107 million, supported by the effect of higher sales driven by solid demand growth and other factors. Ordinary profit increased 14.7% to ¥148,237 million, mainly because the foreign exchange loss fell substantially from the previous fiscal year, by ¥12,191 million, among other factors.」
The stronger yen reduced revenue and affected business performance. Although the foreign exchange loss decreased by ¥12,191 million from the previous fiscal year, a loss of ¥2,054 million was still recorded during the fiscal year. - FY2017-Q3MaterialisedAnnual report
「Although operating profit was ¥100,576 million, down 2.7%, mainly due to the negative impact of the stronger yen, ordinary profit was ¥112,332 million, up 2.3%, primarily because a foreign exchange gain of ¥5,155 million was recorded as a result of the rapid weakening of the yen since November, compared with a foreign exchange loss of ¥175 million in the same quarter of the previous year,」
Foreign exchange movements affected actual profit and loss in the third quarter, with a ¥5,155 million foreign exchange gain recorded this time due to the rapid weakening of the yen. The direction of the impact changed from the foreign exchange losses caused by the stronger yen through the previous quarter. - FY2017-Q2MaterialisedAnnual report
「Operating profit was ¥67,830 million, down 4.0%, mainly due to the negative impact of the stronger yen. In addition, the recording of a ¥18,030 million foreign exchange loss on foreign-currency-denominated receivables and payables, compared with a ¥767 million foreign exchange gain in the same quarter of the previous year, among other factors, resulted in ordinary profit of ¥54,162 million, down 28.6%.」
The stronger yen had a negative impact on earnings and resulted in a foreign exchange loss of ¥18,030 million, causing foreign exchange rate risk to materialize during the quarter. - FY2017-Q1MaterialisedAnnual report
「Operating profit was ¥36,445 million, down 3.5%, mainly due to the negative impact of the stronger yen. In addition, the recording of a ¥15,252 million foreign exchange loss on foreign-currency-denominated receivables and payables, compared with a ¥3,344 million foreign exchange gain in the same quarter of the previous year, among other factors, resulted in ordinary profit of ¥24,264 million, down 44.6%.」
The rapid appreciation of the yen resulted in a foreign exchange loss of ¥15,252 million, causing the existing foreign exchange risk to materialize during the quarter. - FY2016MaterialisedAnnual report
「Consolidated net sales for the fiscal year were ¥475,608 million, up 3.8% year on year. Although selling, general and administrative expenses increased 7.7% to ¥103,147 million, the increase in sales and the positive impact of the weaker yen drove operating profit up 5.1% to ¥134,233 million. However, recording a foreign exchange loss of ¥14,245 million, compared with a foreign exchange gain of ¥21,851 million in the previous fiscal year, resulted in ordinary profit of ¥129,188 million, down 18.7%.」
It describes the risk of translating foreign-currency-denominated transactions and assets into yen, and states that a foreign exchange loss of ¥14,245 million was recorded during the fiscal year.