Foreign-Exchange and Country Risks in Overseas Operations
First written in FY2016. 9 of 27 entries say "Restated". Latest entry: 2026-11-06.
Sansha Electric Manufacturing moved to the "Worse" side of this theme in 2018, 1 year before the typical company in this theme (2019).
The whole theme swung hardest in 2025: 73 of 118 companies on the "Worse" side.
77 other companies' latest entry also says "Restated".
- 2026-11-06RestatedResults
「During the six-month consolidated accounting period, the global economy remained uncertain, as investment demand centered on AI-related fields supported economic activity, while heightened geopolitical risks and uncertainty surrounding the trade policies of various countries persisted.」
地政学的リスクと各国の通商政策を巡る不確実性が継続していると再確認した。 - FY2027-H1RestatedAnnual report
「During the six-month consolidated accounting period, the global economy remained uncertain, as investment demand centered on AI-related fields supported economic activity, while heightened geopolitical risks and uncertainty surrounding the trade policies of various countries persisted.」
The company reconfirmed the overseas business environment, in which AI-related investment is supporting economic activity while uncertainty surrounding geopolitical risks and the trade policies of various countries persists. - FY2026RestatedAnnual report
「During the consolidated accounting year, the global economy remained uncertain, with concerns over inflation caused by higher crude oil prices and impacts on supply chains, in addition to rising geopolitical risks, including those in the Middle East.」
Uncertainty in the overseas business environment continues due to geopolitical risks, including those related to the Middle East, higher crude oil prices, inflation and impacts on supply chains. - 2026-05-08WorsenedResults
「During the consolidated accounting year, the global economy remained uncertain, with concerns over inflation caused by higher crude oil prices and impacts on supply chains, in addition to rising geopolitical risks, including those in the Middle East.」
中東地域をはじめとする地政学リスクの高まりと、原油価格上昇・サプライチェーン影響への懸念が示された。 - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, the global economy remained uncertain due to the impact of US tariff policy on the economies of various countries and geopolitical risks, including those in the Middle East.」
Uncertainty in the global economy due to US tariff policy and geopolitical risks, including those related to the Middle East, continues. - FY2025WorsenedAnnual report
「Geopolitical risks, including those related to the Middle East, are also affecting the economy as a whole. In addition, US tariff policy is raising concerns about a global economic recession, further increasing uncertainty about the outlook.」
In addition to the previously identified risks related to overseas economic conditions, foreign exchange and geopolitics, the situation in the Middle East and US tariff policy were specifically identified as sources of uncertainty, indicating increased risk in the overseas business environment. - FY2025-H1WorsenedAnnual report
「During the interim consolidated accounting period, the US economy remained relatively solid, while the prolonged slump in China's real estate market delayed the economic recovery. In addition, rising geopolitical risks, including those related to the Middle East, increased uncertainty about the outlook.」
In addition to the slump in China's real estate market, geopolitical risks, including those related to the Middle East, became an additional source of uncertainty in the overseas business environment, indicating increased uncertainty about the outlook. - FY2024-Q3RestatedAnnual report
「Segment profit was ¥390 million, up 44.5% year on year, due to the sales mix, foreign exchange gains and the effects of price revisions.」
In the semiconductor business, we have reconfirmed that foreign exchange gains and the effects of price revisions, together with changes in the sales mix, are contributing to higher profit. - FY2024-Q2Contribution to profit from foreign exchange gains and price revisionsAnnual report
「Segment profit was ¥421 million, up 104.1% year on year, driven by higher sales of high-margin module products, foreign exchange gains and the effects of price revisions.」
In the semiconductor business, foreign exchange gains, along with price revisions and higher sales of high-margin modules, contributed to the increase in profit. The impact of foreign exchange is emerging differently across businesses. - FY2023Breakdown of the impact of yen depreciation by businessAnnual report
「Meanwhile, the positive impact of yen depreciation on foreign-currency-denominated sales made a significant contribution.」
While yen depreciation increases profit in the semiconductor business through foreign-currency-denominated sales, it is putting pressure on earnings in the power equipment business, where its impact on the import side of overseas-produced products is greater. The impact differs by business. - FY2023-Q2WorsenedAnnual report
「The outlook for the economy remained uncertain due to soaring prices of crude oil and other raw materials resulting from the Russia-Ukraine situation and foreign exchange fluctuations caused by interest-rate hikes in the United States and Europe.」
Raw material costs continued to rise and exchange rates remained volatile amid interest rate hikes in Europe and the United States, resulting in a ¥150 million foreign exchange loss for the cumulative second quarter. The impact of overseas business conditions and foreign exchange risk is expanding. - FY2023-Q1MaterialisedAnnual report
「Segment profit was ¥96 million, down 2.4% year on year, despite positive factors including higher revenue and yen depreciation, due to factors such as higher material costs and electricity charges.」
While rapid yen depreciation contributed to higher profit, changes in the foreign exchange environment related to overseas operations appeared in actual results. The effects of foreign exchange became apparent in different directions depending on the business and expense item. - FY2022MaterialisedAnnual report
「The company recorded a foreign exchange loss of ¥63 million as a non-operating expense.」
The effects of foreign exchange fluctuations materialized in actual results as a foreign exchange loss for the fiscal year. - FY2022WorsenedAnnual report
「During the fiscal year, economic activity moved toward reopening as vaccinations progressed alongside the effects of COVID-19, including the declaration of a state of emergency. However, in the fourth quarter, the emergence of new variants once again made it difficult to see an end to the pandemic, while Russia's invasion of Ukraine and soaring resource prices further increased uncertainty about the outlook.」
In addition to the pandemic, Russia's invasion of Ukraine and soaring resource prices became new sources of uncertainty in the overseas business environment. - FY2021RestatedAnnual report
「Although the effects of exchange-rate movements can be mitigated through forward exchange contracts and by balancing foreign exchange exposure, they cannot be eliminated entirely and may have a material impact on performance.」
The company reaffirmed that, although the effects can be mitigated through forward exchange contracts and other measures, the effects of foreign exchange fluctuations and translation cannot be eliminated completely. - FY2020MaterialisedAnnual report
「The segment recorded a loss of ¥368 million, compared with a profit of ¥452 million in the previous fiscal year, due to lower revenue, deteriorating profitability resulting from changes in product mix and the effects of foreign exchange fluctuations, primarily the impact of yen appreciation on yen-Chinese yuan transactions.」
The effects of foreign exchange fluctuations, primarily yen appreciation, materialized in actual results as a factor behind the semiconductor business's segment loss. - FY2020-Q3WorsenedAnnual report
「During the nine months ended the third quarter, uncertainty about the outlook for the global economy continued, due to the continuing US-China trade tensions that had persisted since the previous fiscal year and China's economic growth rate reaching a record low, among other factors. The situation remained unpredictable.」
Uncertainty in the overseas business environment continued as US-China trade tensions persisted and China's economic growth rate reached a record low. - FY2020-Q2MaterialisedAnnual report
「In this business, modules for FA equipment and various industrial inverters, which had driven performance in the previous fiscal year, declined significantly as customers' inventory adjustments continued. As a result, revenue was ¥3,128 million, down 10.1% year on year, while the segment recorded a loss of ¥98 million, compared with a profit of ¥350 million in the same quarter of the previous fiscal year, due to lower profit from the revenue decline, deteriorating profitability resulting from changes in product mix and foreign exchange-rate fluctuations.」
Foreign exchange-rate fluctuations materialized as a factor behind the semiconductor business's segment loss. On a consolidated basis, the company also recorded a foreign exchange loss of ¥67 million and a ¥230 million decline in the foreign currency translation adjustment account. - FY2020-Q1WorsenedAnnual report
「Foreign exchange loss 48」
The company recorded a foreign exchange loss of ¥48 million in the first quarter, representing a deterioration in foreign exchange gains and losses from the foreign exchange gain in the first quarter of the previous fiscal year. In addition to uncertainty in the overseas business environment, the effects of foreign exchange fluctuations have appeared in actual results. - FY2019-Q3MaterialisedAnnual report
「During the nine months ended the third quarter, performance increased in both revenue and profit, although the effects of US-China trade tensions had caused some weakening, particularly in orders in the semiconductor business.」
The effects of US-China trade tensions were reported to have materialized as weakening orders in the semiconductor business. - FY2019-Q2WorsenedAnnual report
「During the six months ended the second quarter, the emergence of trade tensions between the US and China and the collapse of the Turkish currency became major sources of concern for the global economy going forward.」
In addition to the US-China trade tensions that had already become apparent, the collapse of the Turkish currency was cited as a source of concern for the global economy, adding another factor of uncertainty to the overseas business environment. - FY2019-Q1MaterialisedAnnual report
「During the three months ended the first quarter, trade tensions centered on the US and China became apparent, creating significant concerns about the future course of the global economy.」
In addition to the existing risks in the overseas business environment, including the economies of China and emerging countries and foreign exchange, US-China trade tensions became apparent and took concrete form as a source of concern for the global economy. - FY2017RestatedAnnual report
「Although the effects of exchange-rate movements can be mitigated through forward exchange contracts and by balancing foreign exchange exposure, they cannot be eliminated entirely and may have a material impact on operating results and financial position.」
The company reaffirmed that, although the effects can be mitigated through forward exchange contracts and other measures, foreign exchange and translation risks cannot be eliminated completely. - FY2017-Q3RestatedAnnual report
「The slowdown in the economies of China and emerging countries that began in the previous fiscal year continued. In addition, Brexit and the results of the US presidential election had a significant impact on financial markets, including sharp foreign exchange fluctuations, and uncertainty about the outlook persisted.」
The company reaffirmed the slowdown in the economies of China and emerging countries, as well as foreign exchange fluctuations and uncertainty about the outlook arising from Brexit and the US presidential election. - FY2017-Q2RestatedAnnual report
「The pronounced trend toward yen appreciation has also affected corporate performance.」
The company reiterated its view that yen appreciation had affected corporate performance. During the six months ended the second quarter, it recorded a foreign exchange loss of ¥34 million and a ¥513 million decline in the foreign currency translation adjustment account. - FY2017-Q1MaterialisedAnnual report
「There were no signs of an upturn in the economies of China and emerging countries. In these circumstances, the UK's withdrawal from the European Union (EU), approved in a UK referendum, led to a rapid appreciation of the yen in the foreign exchange market, while the implications for the global economy remained uncertain.」
The rapid appreciation of the yen following the UK's withdrawal from the EU materialized, and the company recorded a foreign exchange loss of ¥45 million and a decline in the foreign currency translation adjustment account during the quarter. - FY2016First statedAnnual report
「Although the effects of exchange-rate movements can be mitigated through forward exchange contracts and by balancing foreign exchange exposure, they cannot be eliminated entirely and may have a material impact on operating results and financial position.」
The company hedges through forward exchange contracts and other measures but states that exchange-rate fluctuations cannot be eliminated completely. Country risks at overseas bases, including laws and regulations, political instability and boycott movements, are also noted.