Business impact of a rapid and substantial depreciation of the yen
First written in FY2023-Q2. 7 of 11 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 71 of 159 companies on the "Worse" side.
- FY2026RestatedAnnual report
「In the foreign-exchange market, the yen appreciated in the first quarter of the consolidated fiscal year but shifted to a trend toward depreciation from the second quarter onward.」
The shift from yen appreciation to a trend toward yen depreciation identified in the previous interim period was also observed over the full fiscal year. - 2026-04-28OtherRevision of earnings forecasts
「Compared with the full-year consolidated earnings forecast for the fiscal year ending March 2026 announced on 31 October 2025, revenue exceeded the previous forecast because sales centered on new products remained firm and the yen weakened more than expected, among other factors.」
A weaker-than-expected yen was specifically identified as a factor behind the difference from the full-year earnings forecast, indicating that yen depreciation affected results. - FY2026-H1Shift from yen appreciation to a trend toward yen depreciationAnnual report
「The yen appreciated in the first quarter of the interim consolidated fiscal period amid concerns about the US economy and fiscal deterioration and expectations of interest rate cuts. In the second quarter, however, it shifted toward depreciation against the backdrop of the continuing interest-rate differential between Japan and the United States, resulting in an unstable overall trend.」
The disclosure describes a shift from yen appreciation in the previous interim period to a trend toward yen depreciation in the second quarter, with the foreign-exchange market remaining unstable. - FY2025-H1MitigatedAnnual report
「As the yen appreciated toward the end of the interim consolidated fiscal period, foreign-exchange losses arose from valuation and translation differences on foreign-currency-denominated receivables and payables.」
The direction of the currency movement changed from continued yen depreciation to yen appreciation, resulting in foreign-exchange losses. - FY2024RestatedAnnual report
「Compared with the previous consolidated fiscal year, yen depreciation increased revenue by ¥11.7 billion and operating profit by ¥2.5 billion.」
The disclosure quantifies the impact of continued yen depreciation as a ¥11.7 billion increase in revenue and a ¥2.5 billion increase in operating profit. - FY2024-Q3RestatedAnnual report
「The yen continued to depreciate because of differences in monetary policy between regions.」
The disclosure continues to cite fluctuations in the yen and ongoing yen depreciation caused by differences in monetary policy between regions. - FY2024-Q2RestatedAnnual report
「The yen also fluctuated significantly because of differences in monetary policy between regions.」
The disclosure continues to cite significant fluctuations in the yen caused by differences in monetary policy between regions. - FY2024-Q1RestatedAnnual report
「In addition, the yen fluctuated significantly because of differences in monetary policy between regions.」
Significant fluctuations in the yen caused by differences in monetary policy continued to be cited as part of the external environment. - FY2023RestatedAnnual report
「The yen's depreciation during the consolidated fiscal year also contributed to increases in revenue and operating profit.」
The disclosure continues to explain that yen depreciation affected results, while also identifying foreign-exchange fluctuation as a risk. - FY2023-Q3RestatedAnnual report
「In addition, the yen fluctuated significantly because of differences in monetary policy between regions.」
Significant fluctuations in the yen continued to be cited as part of the external environment. Separately, the disclosure explains that yen depreciation affected revenue and that foreign-exchange gains were recorded in ordinary profit. - FY2023-Q2MaterialisedAnnual report
「In addition, the yen depreciated rapidly and substantially because of differences in monetary policy between countries and regions.」
Rapid and substantial yen depreciation caused by differences in monetary policy was part of the external environment during the period.