Impact of a Sharp Yen Appreciation on Performance and Foreign Exchange Losses
First written in FY2017-Q2. 16 of 26 entries say "Mitigated", first in FY2018-Q1. Latest entry: 2026-09-09.
The whole theme swung hardest in 2025: 71 of 159 companies on the "Worse" side.
- 2026-09-09MitigatedEarnings
「Ordinary profit was ¥13,319 million, up 122.8% year on year, mainly due to foreign exchange gains on foreign-currency-denominated financial assets.」
Whereas the previous interim period included foreign exchange losses and valuation losses on derivatives, foreign exchange gains increased ordinary profit in the current interim period. - FY2027-H1MitigatedAnnual report
「Ordinary profit was ¥13,319 million, up 122.8% year on year, mainly due to foreign exchange gains on foreign-currency-denominated financial assets.」
Foreign exchange losses on foreign-currency-denominated financial assets recorded in the previous interim period shifted to foreign exchange gains in the current interim period, becoming a factor behind the increase in ordinary profit. - FY2026MitigatedAnnual report
「Non-operating income was ¥2,299 million, up 19.0% year on year, mainly due to the recording of a foreign exchange gain of ¥1,243 million.」
While foreign exchange losses on foreign-currency-denominated financial assets weighed on ordinary profit in the first half, the company recorded a foreign exchange gain of ¥1,243 million for the full year. - 2026-03-11MitigatedRevision of earnings forecasts
「In addition, revenue, operating profit and ordinary profit exceeded the previous forecast due to foreign exchange gains on foreign-currency-denominated financial assets held by our group.」
After foreign exchange losses were reported for FY2026-H1, foreign exchange gains on foreign-currency-denominated financial assets were cited as an upside factor in the full-year results, reversing the direction of the foreign exchange impact. - FY2026-H1MaterialisedAnnual report
「Ordinary profit was ¥5,978 million, down 36.6% year on year, mainly due to foreign exchange losses on foreign-currency-denominated financial assets.」
The company recorded a foreign exchange loss of ¥226 million on foreign-currency-denominated financial assets and a valuation loss on derivatives of ¥154 million, with the foreign exchange impact reflected in the decline in ordinary profit. - FY2024-Q2MitigatedAnnual report
「In addition, the increase in foreign exchange gains on foreign-currency-denominated financial assets resulted in ordinary profit of ¥10,739 million, down 25.0% year on year, and net income attributable to owners of the parent of ¥7,707 million, down 30.2% year on year.」
The report identifies the increase in foreign exchange gains on foreign-currency-denominated financial assets as a factor affecting ordinary profit, indicating that the foreign exchange impact differs from the previous pressure on performance caused by the yen's appreciation. - FY2023MitigatedAnnual report
「In addition to these activities, the significant depreciation of the yen resulted in sales of ¥174,615 million in the current consolidated fiscal year, up 25.2% year on year.」
The report identifies the significant depreciation of the yen as a factor behind the increase in sales, indicating an impact different from the previous pressure on performance caused by the yen's appreciation. - FY2023-Q3MitigatedAnnual report
「In addition to these activities, the significant depreciation of the yen resulted in sales of ¥130,922 million in the nine-month period ended with the third quarter of the current consolidated fiscal year, up 32.7% year on year. In addition, ordinary profit rose to ¥21,200 million, up 110.6% year on year, due to an increase in foreign exchange gains from translating non-operating foreign-currency-denominated financial assets into yen.」
The report identifies the significant depreciation of the yen and the increase in foreign exchange gains from translating foreign-currency-denominated financial assets into yen as factors behind the increases in sales and ordinary profit. - FY2023-Q2MitigatedAnnual report
「In addition to these activities, the significant depreciation of the yen resulted in sales of ¥85,461 million in the six-month period ended with the second quarter of the current consolidated fiscal year, up 33.1% year on year. In addition, ordinary profit rose to ¥14,324 million, up 135.8% year on year, due to an increase in foreign exchange gains from translating non-operating foreign-currency-denominated financial assets into yen.」
The report identifies the significant depreciation of the yen and the increase in foreign exchange gains from translating foreign-currency-denominated financial assets into yen as factors behind the increase in ordinary profit. - FY2023-Q1MitigatedAnnual report
「Foreign exchange gains 94 1,581」
The company recorded a foreign exchange gain of ¥1,581 million in the three-month period ended with the first quarter of the current consolidated fiscal year, up from ¥94 million in the same period of the previous year. - FY2022MitigatedAnnual report
「Overseas sales account for approximately 50% of the Group's total sales, and fluctuations in foreign exchange rates may affect the Group's operating results and financial position. In this environment, the Group enters into forward exchange contracts to mitigate the risks associated with future foreign exchange movements.」
The company indicates exposure to overseas sales of approximately 50% while explicitly stating that it mitigates the risk through forward exchange contracts. - FY2021-Q1MitigatedAnnual report
「As a result of recording a foreign exchange gain of ¥102 million, ordinary profit was ¥180 million, compared with an ordinary loss of ¥226 million in the same period of the previous year.」
The explanation has changed from a reference to foreign exchange losses and the impact of the yen's appreciation in the previous period to a statement that a foreign exchange gain of ¥102 million was recorded in the current quarter. - FY2020-Q3MaterialisedAnnual report
「Foreign exchange gains 328 －」
Compared with a foreign exchange gain of ¥328 million in the same period of the previous year, the company recorded a foreign exchange loss of ¥39 million in the nine-month period ended with the third quarter of the current consolidated fiscal year, showing the impact of foreign exchange movements in actual earnings. - FY2020-Q2MaterialisedAnnual report
「Non-operating expenses Interest expense 23 43 Foreign exchange losses － 31」
Compared with a foreign exchange gain of ¥229 million in the same period of the previous year, the company recorded a foreign exchange loss of ¥31 million in the six-month period ended with the second quarter of the current consolidated fiscal year. - FY2019-Q3RestatedAnnual report
「The exchange rate was ¥109.83 per U.S. dollar, with the yen ¥1.89 stronger than in the same period of the previous year.」
While explaining that the yen's appreciation from the same period of the previous year affected operating profit in the Electronic Components business, the company reported a consolidated foreign exchange gain of ¥328 million. - FY2019-Q2RestatedAnnual report
「However, while operating expenses increased due to expanded production capacity for lead frames for smartphones and other mobile devices, and automotive applications, demand for semiconductors for smartphones and other mobile devices continued to undergo inventory adjustments, preventing the company from fully utilizing its production capacity. The yen's appreciation also had an impact, and operating profit was ¥120 million, down 85.6% year on year.」
The yen was ¥3.21 stronger than in the same period of the previous year, and the company continues to explain that the yen's appreciation affected operating profit in the Electronic Components business. - FY2019-Q1RestatedAnnual report
「Meanwhile, the exchange rate was ¥107.16 per U.S. dollar, with the yen ¥4.93 stronger than in the same period of the previous year. In addition, as the yen continued to appreciate, operating profit was ¥33 million, down 89.1% year on year.」
The company continues to explain that the yen's appreciation from the same period of the previous year affected operating profit in the Electronic Components business. Meanwhile, the consolidated results for the quarter included a foreign exchange gain of ¥25 million. - FY2018WorsenedAnnual report
「Meanwhile, ordinary profit was ¥1,856 million, down 8.1% year on year, mainly because the exchange rate at the end of the current consolidated fiscal year was higher for the yen than at the end of the previous consolidated fiscal year, resulting in a foreign exchange loss of ¥278 million, compared with a foreign exchange gain of ¥42 million in the previous consolidated fiscal year.」
The report states that the yen's appreciation resulted in a shift from a foreign exchange gain in the previous year to a foreign exchange loss of ¥278 million, which became a factor behind the decline in ordinary profit. - FY2018-Q3MitigatedAnnual report
「Foreign exchange loss 133 74」
Foreign exchange losses declined from ¥133 million in the same period of the previous year to ¥74 million, indicating a reduction in the burden from foreign exchange movements. - FY2018-Q2MitigatedAnnual report
「In addition, ordinary profit for the first 2 quarters of the current consolidated cumulative period increased to ¥1,209 million, up 106.9% year on year, because the foreign exchange loss recognized as a non-operating expense decreased from the previous year.」
The foreign exchange loss declined from ¥193 million in the same period of the previous year to ¥82 million, and the disclosure continues to indicate a reduced foreign exchange burden. - FY2018-Q1MitigatedAnnual report
「In addition, ordinary profit for the first quarter of the current consolidated cumulative period increased to ¥428 million, up 84.2% year on year, because the foreign exchange loss recognized as a non-operating expense decreased from the previous year.」
The foreign exchange loss declined from ¥183 million in the same period of the previous year to ¥95 million, indicating a reduced foreign exchange burden. - FY2017-Q3RestatedAnnual report
「As the yen appreciated, sales for the first 3 quarters of the current consolidated cumulative period were ¥48,319 million, down 0.1% year on year, and operating profit was ¥1,151 million, down 12.3%. In addition, because the exchange rate at the end of the third quarter of the current consolidated accounting period was higher for the yen than at the end of the previous consolidated fiscal year, a foreign exchange loss of ¥133 million was recognized, compared with a foreign exchange gain of ¥377 million in the same period of the previous year.」
The yen's appreciation trend continued, and the disclosure continues to describe its impact on sales and operating profit and the recognition of foreign exchange losses. - FY2017-Q2First statedAnnual report
「Due to the sharp appreciation of the yen, sales for the first 2 quarters of the current consolidated cumulative period were ¥31,704 million, down 3.4% year on year, and operating profit was ¥714 million, down 34.3%.」
The appreciation of the yen is described as a factor behind the deterioration in results, and a foreign exchange loss of ¥193 million was also recognized.