Country Risk and Foreign Exchange Fluctuations in Overseas Business
First written in FY2016. 17 of 31 entries say "Mitigated", first in FY2018-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2025: 72 of 118 companies on the "Worse" side.
17 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「However, we hedge the risk arising from imbalances in the positions of foreign-currency-denominated assets and liabilities through foreign exchange forwards, netting transactions and other measures in accordance with certain policies. In addition, speculative transactions are prohibited in principle. For the consolidated fiscal year, the impact on operating income if exchange rates for each currency moved ¥1 against the yen, specifically a ¥1 depreciation of the yen, was an improvement of approximately ¥50 million for the euro, due to increased profits in Europe, and a deterioration of approximately ¥100 million for the US dollar, due to higher procurement and manufacturing costs and other factors.」
The hedging policy using foreign exchange forwards, netting transactions and other measures was maintained, and foreign exchange gains of ¥1,494 million were recorded for the year. Operating income sensitivity by currency was also updated. - 2026-05-13MitigatedEarnings
「Foreign exchange gains — 1,494」
The company moved from a foreign exchange loss in the previous fiscal year to a foreign exchange gain in the current fiscal year, easing the adverse impact of currency movements on ordinary income. - FY2026-H1MitigatedAnnual report
「Foreign exchange losses 892 －」
The ¥892 million in foreign exchange losses recorded in the same interim period of the previous year was not recorded in the current interim consolidated accounting period. - FY2025-H1WorsenedAnnual report
「Ordinary income was ¥4.5 billion despite deterioration in foreign exchange gains and losses and other factors, representing a ¥4.0 billion, or 835.0%, increase from the same period of the previous year.」
Operating income and other items improved, while deterioration in foreign exchange gains and losses was identified as a factor weighing on ordinary income. The company recorded foreign exchange losses of ¥892 million in the current interim period. - FY2024MitigatedAnnual report
「For the consolidated fiscal year, the impact on operating income if exchange rates for each currency moved ¥1 against the yen, specifically a ¥1 depreciation of the yen, was an improvement of approximately ¥100 million for the euro, due to increased profits in Europe, and a deterioration of approximately ¥200 million for the US dollar, due to higher procurement and manufacturing costs and other factors.」
The sensitivity of operating income to foreign exchange movements was quantified by currency, and the impact is managed together with the hedging policy using foreign exchange forwards, netting transactions and other measures. - FY2024-Q3MitigatedAnnual report
「Ordinary income was ¥4.8 billion, due in part to an improvement in foreign exchange gains and losses, representing a ¥12.7 billion improvement from the same period of the previous year.」
Ordinary income improved from a loss in the same period of the previous year to a profit of ¥4.8 billion, mainly due to an improvement in foreign exchange gains and losses, mitigating the impact of foreign exchange fluctuations on earnings. - FY2024-Q2MitigatedAnnual report
「Ordinary income was ¥500 million, due in part to an improvement in foreign exchange gains and losses, representing a ¥5.4 billion improvement from the same period of the previous year.」
Ordinary income improved from a loss in the same period of the previous year to a profit of ¥500 million, mainly due to an improvement in foreign exchange gains and losses, mitigating the impact of foreign exchange compared with the previous period. - FY2023-Q3WorsenedAnnual report
「Ordinary loss was ¥7.9 billion, due in part to deterioration in foreign exchange gains and losses outside operating income, representing an ¥8.0 billion deterioration from the same period of the previous year.」
Against a backdrop of volatile foreign exchange markets, foreign exchange gains and losses outside operating income deteriorated, and ordinary loss deteriorated by ¥8.0 billion year on year. - FY2023-Q2WorsenedAnnual report
「Ordinary loss was ¥4.9 billion, due in part to a decline in foreign exchange gains outside operating income, representing an ¥800 million deterioration from the same period of the previous year.」
Ordinary loss deteriorated by ¥800 million year on year, mainly due to a decline in foreign exchange gains outside operating income, and the impact of foreign exchange reappeared in earnings. - FY2023-Q1WorsenedAnnual report
「Uncertainty about the outlook remains due to the continued spread of COVID-19, particularly variant strains, heightened geopolitical risks resulting from the prolonged Russia-Ukraine situation, and the rapid depreciation of the yen, among other factors.」
The rapid depreciation of the yen was identified as a risk in the business environment. In terms of earnings, ordinary loss deteriorated by ¥500 million year on year, mainly due to a decline in foreign exchange gains outside operating income. - FY2022-Q3MitigatedAnnual report
「Ordinary loss was ¥200 million, due in part to an improvement in foreign exchange gains and losses included in non-operating income and expenses, representing a ¥3.2 billion improvement from the same period of the previous year.」
Foreign exchange gains and losses included in non-operating income and expenses improved, resulting in a ¥3.2 billion year-on-year improvement in ordinary loss. - FY2022-Q2MitigatedAnnual report
「Ordinary income was a loss of ¥4.3 billion, despite an improvement in foreign exchange outside operating income, representing a ¥1.1 billion deterioration from the same period of the previous year.」
The company explained that foreign exchange outside operating income had improved. However, ordinary income was a loss of ¥4.3 billion and had deteriorated year on year, so the impact of foreign exchange risk had not been completely eliminated. - FY2022-Q1MitigatedAnnual report
「Ordinary income was a loss of ¥2.8 billion, despite an improvement in foreign exchange outside operating income, representing a ¥700 million deterioration from the same period of the previous year.」
Foreign exchange outside operating income improved, turning from foreign exchange losses of ¥575 million in the same period of the previous year to foreign exchange gains of ¥389 million in the current quarter. - FY2021MitigatedAnnual report
「We hedge the risk arising from imbalances in the positions of foreign-currency-denominated assets and liabilities through foreign exchange forwards, netting and other measures in accordance with certain policies. In addition, speculative transactions are prohibited in principle.」
The company explicitly stated its hedging policy using foreign exchange forwards and netting, as well as its principle of prohibiting speculative transactions. For the full year, it recorded foreign exchange gains of ¥447 million, mitigating the impact compared with the foreign exchange losses recorded in the previous year. - FY2021-Q3MitigatedAnnual report
「Foreign exchange losses 1,433 －」
The ¥1,433 million in foreign exchange losses recorded in the same period of the previous year was not recorded in the cumulative period of the current quarter, reducing the impact of foreign exchange outside operating income. - FY2021-Q2MitigatedAnnual report
「Foreign exchange losses 2,055 428」
Foreign exchange losses declined from ¥2,055 million in the same period of the previous year to ¥428 million, reducing the impact of foreign exchange outside operating income compared with the same period of the previous year. - FY2021-Q1MitigatedAnnual report
「Foreign exchange losses 936 575」
Foreign exchange losses declined from ¥936 million in the same period of the previous year to ¥575 million, reducing the impact of foreign exchange outside operating income compared with the same period of the previous year. - FY2020-Q3MitigatedAnnual report
「Foreign exchange losses 1,486 1,433」
Foreign exchange losses declined slightly from ¥1,486 million in the same period of the previous year to ¥1,433 million. However, the printer business continues to be affected by lower revenue due to the stronger yen. - FY2020-Q2WorsenedAnnual report
「Foreign exchange losses 1,496 2,055」
Foreign exchange losses increased from ¥1,496 million in the same period of the previous year to ¥2,055 million, increasing the impact of foreign exchange movements. - FY2020-Q1WorsenedAnnual report
「Foreign exchange losses 844 936」
Foreign exchange losses increased from ¥844 million in the same period of the previous year to ¥936 million. The printer business also disclosed a negative revenue impact from the stronger yen, and the impact of foreign exchange movements increased again. - FY2019-Q3RestatedAnnual report
「Ordinary profit was ¥2.8 billion, an improvement of ¥4.5 billion, as the improvement in operating profit more than offset the recognition of ¥1.5 billion in foreign exchange losses as non-operating expenses.」
Although ¥1.5 billion in foreign exchange losses continued to be recognized, ordinary income improved by ¥4.5 billion from the same period of the previous year due to the improvement in operating profit. - FY2019-Q2WorsenedAnnual report
「Ordinary loss was ¥800 million, an improvement of ¥2.5 billion, as the improvement in operating profit more than offset the recognition of ¥1.5 billion in foreign exchange losses as non-operating expenses.」
Foreign exchange losses of ¥1.5 billion were recognized as non-operating expenses, and the shift from foreign exchange gains in the same period of the previous year to foreign exchange losses continued. - FY2019-Q1WorsenedAnnual report
「Foreign exchange losses 183 844」
Foreign exchange losses increased from ¥183 million in the same period of the previous year to ¥844 million. Although operating profit improved, the impact of non-operating expenses from foreign exchange movements increased. - FY2018-Q3MitigatedAnnual report
「Ordinary loss was ¥1.7 billion, an improvement of ¥2.6 billion, as the ¥4.3 billion in foreign exchange losses recorded in the same period of the previous year turned into ¥600 million in foreign exchange gains in the cumulative third quarter of the current consolidated fiscal year, among other factors.」
Foreign exchange losses of ¥4.3 billion in the same period of the previous year turned into foreign exchange gains of ¥600 million in the current period, improving ordinary loss by ¥2.6 billion year on year. The impact of foreign exchange movements eased. - FY2018-Q2MitigatedAnnual report
「Ordinary loss was ¥3.3 billion, an improvement of ¥5.6 billion, as the ¥8.1 billion in foreign exchange losses recorded in the same period of the previous year turned into ¥400 million in foreign exchange gains in the cumulative second quarter of the current consolidated fiscal year, among other factors.」
Foreign exchange losses of ¥8.1 billion in the same period of the previous year turned into foreign exchange gains of ¥400 million in the current period, improving ordinary loss by ¥5.6 billion year on year. The impact of foreign exchange movements eased. - FY2018-Q1MitigatedAnnual report
「Ordinary loss was ¥3.5 billion, an improvement of ¥2.9 billion, mainly due to a decrease in foreign exchange losses.」
Although foreign exchange losses remained a factor, they decreased from the same period of the previous year, improving ordinary loss by ¥2.9 billion. - FY2017WorsenedAnnual report
「Ordinary loss was ¥2.4 billion, a deterioration of ¥13.8 billion, mainly due to the recognition of ¥4.8 billion in foreign exchange losses as non-operating expenses.」
The recognition of ¥4.8 billion in foreign exchange losses emerged as a factor worsening ordinary loss. - FY2017-Q3WorsenedAnnual report
「Ordinary loss was ¥4.3 billion, a deterioration of ¥8.1 billion, mainly due to the recognition of ¥4.3 billion in foreign exchange losses as non-operating expenses.」
The recognition of ¥4.3 billion in foreign exchange losses resulted in ordinary loss of ¥4.3 billion, a ¥8.1 billion year-on-year deterioration. - FY2017-Q2WorsenedAnnual report
「Ordinary loss was ¥8.9 billion, a deterioration of ¥11.6 billion, mainly due to the recognition of ¥8.1 billion in foreign exchange losses as non-operating expenses.」
The recognition of ¥8.1 billion in foreign exchange losses resulted in ordinary loss of ¥8.9 billion, a ¥11.6 billion year-on-year deterioration. - FY2017-Q1WorsenedAnnual report
「Ordinary loss was ¥6.4 billion, a deterioration of ¥12.3 billion, as foreign exchange gains recorded in non-operating income in the same period of the previous year turned into foreign exchange losses recorded in non-operating expenses in the current period.」
The shift from foreign exchange gains in the same period of the previous year to foreign exchange losses in the current quarter resulted in ordinary loss of ¥6.4 billion, a ¥12.3 billion year-on-year deterioration. - FY2016MaterialisedAnnual report
「Ordinary profit was ¥11.4 billion, down ¥26.5 billion, as foreign exchange gains recorded in non-operating income in the previous consolidated fiscal year turned into foreign exchange losses in the current consolidated fiscal year, among other factors.」
The shift from foreign exchange gains to foreign exchange losses occurred in the reported results.