Foreign Exchange Rate Fluctuation Risk, Including Yen Appreciation
First written in FY2016. 7 of 15 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 71 of 159 companies on the "Worse" side.
- FY2026MaterialisedAnnual report
「Although higher sales increased value added, operating profit declined from the previous fiscal year because this was insufficient to offset the impact of foreign exchange and higher indirect costs.」
Foreign-exchange fluctuation risk materialized as a factor behind the decline in operating profit in FY2026. - FY2025RestatedAnnual report
「The foreign-exchange sensitivity for the consolidated fiscal year ended 28 February 2025, representing the impact on performance of a 1% change from the average actual exchange rates of US$1: ¥152.7, €1: ¥164.0, CNY1: ¥21.12 and KRW1: ¥0.111, was approximately ¥1.38 billion for revenue for the US dollar, approximately ¥730 million for the euro, approximately ¥1.13 billion for the Chinese yuan and approximately ¥380 million for the Korean won. The corresponding impacts on operating profit were approximately ¥250 million, ¥80 million, ¥280 million and ¥160 million, respectively.」
The impact of a 1% change in each currency was updated based on the FY2025 actual exchange rates in relation to foreign-exchange fluctuation risk. - FY2024RestatedAnnual report
「The foreign-exchange sensitivity for the consolidated fiscal year ended 29 February 2024, representing the impact on performance of a 1% change from the average actual exchange rates of US$1: ¥143.2, €1: ¥155.1, CNY1: ¥20.02 and KRW1: ¥0.109, was approximately ¥1.39 billion for revenue for the US dollar, approximately ¥900 million for the euro, approximately ¥1.25 billion for the Chinese yuan and approximately ¥360 million for the Korean won. The corresponding impacts on operating profit were approximately ¥340 million, ¥170 million, ¥280 million and ¥180 million, respectively.」
The group continued to disclose foreign-exchange fluctuation risk and updated the impact of a 1% change in each currency based on FY2024 actual results. - FY2023RestatedAnnual report
「The foreign-exchange sensitivity for the consolidated fiscal year ended 28 February 2023, representing the impact on performance of a 1% change from the average actual exchange rates of US$1: ¥134.1, €1: ¥139.8, CNY1: ¥19.68 and KRW1: ¥0.103, was approximately ¥1.19 billion for revenue for the US dollar, approximately ¥820 million for the euro, approximately ¥1.35 billion for the Chinese yuan and approximately ¥330 million for the Korean won. The corresponding impacts on operating profit were approximately ¥260 million, ¥170 million, ¥400 million and ¥200 million, respectively.」
The impact of a 1% change in each currency on revenue and operating profit was updated based on FY2023 actual results in relation to foreign-exchange fluctuation risk. - FY2023-Q3RestatedAnnual report
「On the profit side, although the Company was affected by higher raw material and logistics costs, operating profit increased year on year due to improved profitability accompanying higher sales, the impact of a weaker yen and other income arising from changes to the retirement pension system and other factors.」
The impact of yen depreciation on foreign exchange continued to be cited as a factor contributing to higher profit, confirming an effect opposite to the downside risk to performance from yen appreciation. - FY2023-Q2MitigatedAnnual report
「On the profit side, although the Company was affected by sharply higher raw material and logistics costs, profit increased due to progress in passing costs through to prices, the impact of a weaker yen and other income arising from changes to the retirement pension system.」
In contrast to the downside risk to performance from yen appreciation, the impact of yen depreciation was a factor contributing to higher profit in the quarter. quantified=false, materialized=false. - FY2023-Q1MitigatedAnnual report
「Although profit was affected by higher raw-material costs, profit increased due in part to the yen's depreciation and the reversal of liabilities related to retirement benefits resulting from changes to the retirement pension plan.」
In contrast to the downside risk to performance from yen appreciation, yen depreciation was cited as a factor contributing to higher profit in the quarter. quantified=false, materialized=false. - FY2022RestatedAnnual report
「The foreign-exchange sensitivity for the consolidated fiscal year ended 28 February 2022, representing the impact on performance of a 1% change from the average actual exchange rates of US$1: ¥111.5, €1: ¥130.4, CNY1: ¥17.33 and KRW1: ¥0.096, was approximately ¥870 million for revenue for the US dollar, approximately ¥740 million for the euro, approximately ¥1.22 billion for the Chinese yuan and approximately ¥240 million for the Korean won. The corresponding impacts on operating profit were approximately ¥210 million, ¥200 million, ¥420 million and ¥170 million, respectively.」
The impact of a 1% change in each currency on revenue and operating profit was updated based on the annual results in relation to foreign-exchange risk. - FY2021RestatedAnnual report
「The foreign-exchange sensitivity for the consolidated fiscal year ended 28 February 2021, representing the impact on performance of a 1% change from the average actual exchange rates of US$1: ¥106.0, €1: ¥122.8, CNY1: ¥15.55 and KRW1: ¥0.091, was approximately ¥690 million for revenue for the US dollar, approximately ¥560 million for the euro, approximately ¥940 million for the Chinese yuan and approximately ¥200 million for the Korean won. The corresponding impacts on operating profit were approximately ¥150 million, ¥70 million, ¥300 million and ¥130 million, respectively.」
Amid continuing foreign-exchange fluctuation risk, the group disclosed the impact on revenue and operating profit of a 1% change in each currency. - FY2019RestatedAnnual report
「An appreciation of the yen beyond expectations could weaken product competitiveness and adversely affect the performance and financial condition of our group.」
The group continues to disclose the risk that fluctuations in foreign-exchange rates, including yen appreciation, may affect product competitiveness, performance and financial condition. - FY2017MaterialisedAnnual report
「Under these circumstances, our group worked to expand its business by seeking to improve competitiveness and profitability through the proactive introduction of new products and by developing new business areas, including the environmental and energy fields. However, the appreciation of the yen through the third quarter came to affect performance.」
The appreciation of the yen through the third quarter affected full-year performance and materialized as lower revenue and lower profit, including a 4.0% decline in revenue and a 17.2% decline in operating profit. - FY2017-Q4The yen turned weaker in the third quarter.Annual report
「In Japan, although the yen appreciated rapidly throughout the first half, the economy as a whole showed a moderate recovery trend, partly because the yen turned weaker in the third quarter.」
It was explained that the impact of the rapid yen appreciation in the first half remained, while the yen turned weaker in the third quarter. - FY2017-Q3WorsenedAnnual report
「Under these circumstances, our group worked to expand its business by seeking to improve competitiveness and profitability through the development of new business areas, including the environmental and energy fields, and the proactive introduction of new products. However, the rapid appreciation of the yen came to have a substantial impact on performance. As a result, during the cumulative consolidated second quarter period, our group reported revenue of ¥187.644 billion, down 9.8% year on year; operating profit of ¥13.818 billion, down 27.2%; ordinary profit of ¥13.754 billion, down 27.6%; and profit attributable to owners of the parent of ¥8.609 billion, down 28.4%, resulting in lower revenue and lower profit year on year.」
The impact of the rapid yen appreciation materialized as lower revenue and lower profit for the first half, with year-on-year declines in revenue, operating profit, ordinary profit and profit attributable to owners of the parent quantified. - FY2017-Q2MaterialisedAnnual report
「In Japan, the yen has been appreciating rapidly, creating a situation that warrants close attention.」
The yen appreciated rapidly, and the impact of exchange rates, among other factors, resulted in lower revenue and lower profit year on year, making the effects of exchange-rate fluctuations evident in the results. - FY2016First statedAnnual report
「An appreciation of the yen beyond expectations could weaken product competitiveness and adversely affect the performance and financial condition of our group.」
The group recognizes exchange-rate fluctuations associated with exports denominated in foreign currencies as a risk and also reported the trend toward yen appreciation during the period.