Foreign Exchange Risk in Global Operations
First written in FY2016. 15 of 27 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 71 of 159 companies on the "Worse" side.
- FY2026The yen strengthened against the US dollar and weakened against the euroAnnual report
「The average yen exchange rates against the US dollar and euro in fiscal 2025 were ¥150.7 and ¥174.7, respectively. Compared with the average rates in the previous fiscal year, this represented yen appreciation of ¥1.8 against the US dollar and yen depreciation of ¥11.0 against the euro.」
In fiscal 2025, the yen appreciated against the US dollar and depreciated against the euro compared with the previous year's average rates. - FY2026-H1The yen strengthened against the US dollar and weakened against the euroAnnual report
「The average yen exchange rates against the US dollar and euro for the interim consolidated accounting period were ¥146.0 and ¥167.9, respectively. Compared with the average rates in the same period of the previous year, this represented yen appreciation of ¥6.6 against the US dollar and yen depreciation of ¥2.1 against the euro.」
Compared with the same period of the previous year, the yen appreciated against the US dollar and depreciated against the euro. The disclosure stated that there was no material change in the risk-hedging policy. - FY2025WorsenedAnnual report
「The average yen exchange rates against the US dollar and euro in fiscal 2024 were ¥152.5 and ¥163.6, respectively. Compared with the average rates in the previous fiscal year, this represented yen depreciation of ¥8.1 against the US dollar and ¥7.0 against the euro.」
The yen continued to depreciate in fiscal 2024, by ¥8.1 against the US dollar and ¥7.0 against the euro compared with the previous year's average rates. - FY2025-H1WorsenedAnnual report
「The average yen exchange rates against the US dollar and euro for the interim consolidated accounting period were ¥152.6 and ¥165.8, respectively. Compared with the average rates in the same period of the previous year, this represented yen depreciation of ¥11.9 against the US dollar and ¥12.6 against the euro.」
The yen depreciated by ¥11.9 against the US dollar and ¥12.6 against the euro year on year, and foreign exchange movements affected sales and operating income or loss in each segment. There was no material change in the risk-hedging policy. - FY2024RestatedAnnual report
「The average yen exchange rates against the US dollar and euro in fiscal 2023 were ¥144.4 and ¥156.6, respectively. Compared with the average rates in the previous fiscal year, this represented yen depreciation of ¥9.0 against the US dollar and ¥15.7 against the euro.」
The yen continued to depreciate, affecting sales and operating income or loss in G&NS, ET&S, and I&SS. The hedging policy using forward foreign exchange contracts and currency options, among other instruments, remains in place. - FY2024-Q3WorsenedAnnual report
「The average yen exchange rates against the US dollar and euro for the cumulative consolidated period of the quarter were ¥143.1 and ¥155.1, respectively. Compared with the average rates in the same period of the previous year, this represented yen depreciation of ¥6.7 against the US dollar and ¥14.6 against the euro.」
The yen depreciated by ¥6.7 against the US dollar and ¥14.6 against the euro year on year, and foreign exchange movements continued to affect sales and operating income or loss in G&NS, ET&S, and I&SS, among other segments. - FY2024-Q2WorsenedAnnual report
「The average yen exchange rates against the US dollar and euro for the cumulative consolidated period of the quarter were ¥140.7 and ¥153.2, respectively. Compared with the average rates in the same period of the previous year, this represented yen depreciation of ¥6.9 against the US dollar and ¥14.5 against the euro.」
The yen depreciated by ¥6.9 against the US dollar and ¥14.5 against the euro year on year, and the company continued to disclose the impact of foreign exchange movements on sales and operating income or loss in each segment. There was no material change in the risk-hedging policy. - FY2024-Q1RestatedAnnual report
「Although foreign exchange rates have fluctuated, there has been no material change in the risk-hedging policy from the contents described in the aforementioned report. The average yen exchange rates against the US dollar and euro during the quarter were ¥137.0 and ¥149.2, respectively. Compared with the average rates in the same quarter of the previous year, this represented yen depreciation of ¥7.6 against the US dollar and ¥11.2 against the euro.」
The yen continued to depreciate, and although the company disclosed the average yen exchange rates against the US dollar and euro, it reaffirmed that there was no material change in the foreign exchange risk-hedging policy. - FY2023RestatedAnnual report
「The average yen exchange rates against the US dollar and euro in fiscal 2022 were ¥135.4 and ¥140.9, respectively. Compared with the average rates in the previous fiscal year, this represented yen depreciation of ¥23.1 against the US dollar and ¥10.4 against the euro.」
The company disclosed the impact of yen depreciation on sales and operating income or loss for the fiscal year and continued its hedging policy using forward foreign exchange contracts and currency options, among other instruments. - FY2023-Q3WorsenedAnnual report
「The average yen exchange rates against the US dollar and euro for the cumulative consolidated period of the quarter were ¥136.4 and ¥140.5, respectively. Compared with the average rates in the same period of the previous year, this represented yen depreciation of ¥25.4 against the US dollar and ¥9.9 against the euro.」
The yen depreciated by ¥25.4 against the US dollar and ¥9.9 against the euro year on year, and the impact of foreign exchange movements on sales and operating income or loss in each segment continued. - FY2023-Q2WorsenedAnnual report
「The average yen exchange rates against the US dollar and euro for the cumulative consolidated period of the quarter were ¥133.8 and ¥138.7, respectively. Compared with the average rates in the same period of the previous year, this represented yen depreciation of ¥24.0 against the US dollar and ¥7.8 against the euro.」
The yen depreciated by ¥24.0 against the US dollar and ¥7.8 against the euro year on year, and foreign exchange movements continued to affect sales and operating income or loss in each segment. - FY2023-Q1MaterialisedAnnual report
「The average yen exchange rates against the US dollar and euro during the quarter were ¥129.4 and ¥138.0, respectively. Compared with the average rates in the same quarter of the previous year, this represented yen depreciation of ¥19.9 against the US dollar and ¥6.2 against the euro.」
The yen actually depreciated, by ¥19.9 against the US dollar and ¥6.2 against the euro year on year. The company also disclosed the foreign exchange impact on sales and operating income or loss in each segment. - FY2022-Q1RestatedAnnual report
「Although foreign exchange rates have fluctuated, there has been no material change in the risk-hedging policy from the contents described in the aforementioned report. The average yen exchange rates against the US dollar and euro during the quarter were ¥109.5 and ¥131.9, respectively. Compared with the average rates in the same quarter of the previous year, this represented yen depreciation of ¥1.9 against the US dollar and ¥13.4 against the euro.」
The company disclosed yen depreciation against the US dollar and euro and reaffirmed that there was no material change in the risk-hedging policy. - FY2021-Q2RestatedAnnual report
「The average yen exchange rates against the US dollar and euro for the cumulative consolidated period of the quarter were ¥106.9 and ¥121.3, respectively. Compared with the average rates in the same period of the previous year, this represented yen appreciation of ¥1.7 against the US dollar and ¥0.1 against the euro.」
The company disclosed yen appreciation against the US dollar and euro and reaffirmed that there was no material change in the risk-hedging policy. - FY2020-Q3RestatedAnnual report
「Although foreign exchange rates have fluctuated, there has been no material change in the risk-hedging policy from the contents described in the aforementioned report. The average yen exchange rates against the US dollar and euro for the cumulative consolidated period of the quarter were ¥108.7 and ¥121.0, respectively. Compared with the average rates in the same period of the previous year, this represented yen appreciation of ¥2.5 against the US dollar and ¥8.5 against the euro.」
The yen appreciated against the US dollar and euro, but the company reaffirmed that there was no material change in its foreign exchange hedging policy. - FY2020-Q2RestatedAnnual report
「The average yen exchange rates against the US dollar and euro for the cumulative consolidated period of the quarter were ¥108.6 and ¥121.4, respectively. Compared with the average rates in the same period of the previous year, this represented yen appreciation of ¥1.7 against the US dollar and ¥8.5 against the euro.」
The company disclosed yen appreciation against the US dollar and euro and its impact on each segment. It reaffirmed that there was no material change in the risk-hedging policy. - FY2020-Q1RestatedAnnual report
「Although foreign exchange rates have fluctuated, there has been no material change in the risk-hedging policy from the contents described in the aforementioned report. The average yen exchange rates against the US dollar and euro during the quarter were ¥109.9 and ¥123.5, respectively. Compared with the average rates in the same quarter of the previous year, this represented yen depreciation of ¥0.8 against the US dollar and yen appreciation of ¥6.6 against the euro.」
The yen depreciated against the US dollar and appreciated against the euro, but the company reaffirmed that there was no material change in its foreign exchange hedging policy. - FY2019-Q3RestatedAnnual report
「Although foreign exchange rates have fluctuated, there has been no material change in the risk-hedging policy from the contents described in the aforementioned report. The average yen exchange rates against the US dollar and euro for the cumulative consolidated period of the quarter were ¥111.2 and ¥129.5, respectively. Compared with the average rates in the same period of the previous year, this represented yen appreciation of ¥0.5 against the US dollar and yen depreciation of ¥1.0 against the euro.」
The company disclosed foreign exchange movements against the US dollar and euro and reaffirmed that there was no material change in the risk-hedging policy. - FY2019-Q2RestatedAnnual report
「Although foreign exchange rates have fluctuated, there has been no material change in the risk-hedging policy from the contents described in the aforementioned report. The average yen exchange rates against the US dollar and euro for the cumulative consolidated period of the quarter were ¥110.3 and ¥129.9, respectively. Compared with the average rates in the same period of the previous year, this represented yen appreciation of ¥0.8 against the US dollar and yen depreciation of ¥3.7 against the euro.」
The company disclosed foreign exchange movements against the US dollar and euro and explicitly stated that there was no material change in the risk-hedging policy. - FY2018-Q3RestatedAnnual report
「The average yen exchange rates against the US dollar and euro for the cumulative consolidated period of the quarter were ¥111.7 and ¥128.5, respectively. Compared with the average rates in the same period of the previous year, this represented yen depreciation of ¥5.1 against the US dollar and ¥10.4 against the euro.」
The company disclosed yen depreciation against the US dollar and euro and its impact on each segment, while stating that there was no material change in the risk-hedging policy. - FY2018-Q2RestatedAnnual report
「Although foreign exchange rates have fluctuated, there has been no material change in the risk-hedging policy from the contents described in the aforementioned report. The average yen exchange rates against the US dollar and euro during the quarter were ¥111.0 and ¥130.4, respectively. Compared with the average rates in the same quarter of the previous year, this represented yen depreciation of 7.7% against the US dollar and 12.4% against the euro.」
The yen moved lower, affecting operating income or loss in each segment, but the disclosure stated that there was no material change in the risk-hedging policy. - FY2018-Q1RestatedAnnual report
「The average yen exchange rates against the US dollar and euro during the quarter were ¥111.1 and ¥122.1, respectively. Compared with the average rates in the same quarter of the previous year, this represented yen depreciation of 2.7% against the US dollar, while the rate against the euro was broadly unchanged year on year.」
During the quarter, the yen depreciated by 2.7% against the US dollar, while the rate against the euro was broadly unchanged year on year. The company disclosed foreign exchange impacts in the MC, G&NS, IP&S, HE&S, and semiconductor segments. There was no material change in its foreign exchange hedging policy. - FY2017RestatedAnnual report
「The average yen exchange rates against the US dollar and euro in fiscal 2016 were ¥108.4 and ¥118.8, respectively. Compared with the average rates in the previous fiscal year, this represented yen appreciation of 10.8% against the US dollar and 11.6% against the euro.」
The company reaffirmed the impact of yen appreciation on business results and its hedging policy using forward foreign exchange contracts and currency options, among other instruments. - FY2017-Q3RestatedAnnual report
「The average yen exchange rates against the US dollar and euro during the quarter were ¥109.3 and ¥117.8, respectively. Compared with the average rates in the same quarter of the previous year, this represented yen appreciation of 11.1% against the US dollar and 12.8% against the euro.」
The yen continued to appreciate, and the company disclosed foreign exchange impacts in the MC, G&NS, IP&S, HE&S, semiconductor, and components segments. - FY2017-Q2WorsenedAnnual report
「The average yen exchange rates against the US dollar and euro during the quarter were ¥102.4 and ¥114.3, respectively. Compared with the average rates in the same quarter of the previous year, this represented yen appreciation of 19.3% against the US dollar and 19.0% against the euro.」
The yen appreciated by 19.3% against the US dollar and 19.0% against the euro year on year, causing an actual adverse impact on operating income or loss in several segments, including ¥19.7 billion in the semiconductor segment and ¥9.5 billion in the IP&S segment. - FY2017-Q1MaterialisedAnnual report
「The average yen exchange rates against the US dollar and euro during the quarter were ¥108.1 and ¥122.1, respectively. Compared with the average rates in the same quarter of the previous year, this represented yen appreciation of 12.3% against the US dollar and 9.9% against the euro.」
The yen actually appreciated, resulting in adverse effects on operating income or loss in each electronics segment. - FY2016First statedAnnual report
「In the electronics business, research and development expenses and corporate overhead are incurred mainly in yen, while manufacturing costs, including the procurement of raw materials, parts and components and outsourced production, are incurred mainly in US dollars and yen. Sales are generated across Japan, the United States, Europe, China, and other regions, including emerging markets, and are recorded in the currency of each region. As a result, the substantial depreciation of the yen against the US dollar and euro, the substantial appreciation of the yen against the euro, and the appreciation of the US dollar against emerging-market currencies have adversely affected Sony's business results in the past and may continue to do so.」
The disclosure describes the past adverse impact of foreign exchange movements on business results, as well as the regional sales mix and foreign exchange sensitivity.