Foreign exchange risk arising from foreign-currency-denominated contracts
First written in FY2016. 8 of 21 entries say "Mitigated", first in FY2017-Q3. Latest entry: FY2026.
Naikai Zosen moved to the "Worse" side of this theme in 2022, 3 years after the typical company in this theme (2019).
The whole theme swung hardest in 2019: 22 of 41 companies on the "Worse" side.
18 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Foreign exchange loss 81 1」
The foreign exchange loss decreased from ¥81 million in the previous fiscal year to ¥1 million in the current fiscal year. The hedging policy for foreign-currency-denominated contracts, using yen-denominated contracts, forward contracts and other instruments, remains in place. - 2026-05-12MitigatedResults
「為替差損 81 1」
為替差損は前年度の81百万円から1百万円に減少した。 - FY2026-H1MitigatedAnnual report
「Foreign exchange loss 174 0」
Compared with a foreign exchange loss of ¥174 million in the same period of the previous year, the foreign exchange loss was ¥0 million in the current interim consolidated accounting period. The yen's depreciation trend also contributed to improved revenue from foreign-currency-denominated construction. - FY2025-H1MaterialisedAnnual report
「Foreign exchange loss － 174」
Compared with a foreign exchange gain of ¥92 million in the same period of the previous year, a foreign exchange loss of ¥174 million was recognized in the current interim consolidated accounting period, indicating that the impact of foreign exchange movements was reflected in earnings. - FY2024-Q3Improvement in foreign-currency-denominated vessel revenue due to yen depreciationAnnual report
「Although the profitability of vessels generating foreign-currency-denominated sales improved due to the yen's depreciation」
While foreign exchange risk remains, the Company states that the profitability of vessels generating foreign-currency-denominated sales improved due to the yen's depreciation during the cumulative third quarter of the current consolidated fiscal year. - FY2024-Q2WorsenedAnnual report
「With a general expectation that the yen will appreciate as U.S. economic growth slows, the outlook remains uncertain because a major potential source of volatility is the substantial deterioration in the profitability of ocean-going vessels already ordered and newly ordered vessels」
The potential for a substantial deterioration in the profitability of ocean-going vessels already ordered and newly ordered vessels if the yen's depreciation reverses into appreciation is identified as a major source of volatility in the outlook. - FY2023RestatedAnnual report
「The Company generally uses yen-denominated contracts for new vessels, but where vessels are covered by foreign-currency-denominated contracts, it hedges foreign exchange risk through measures such as forward contracts while closely monitoring exchange rate movements.」
The Company continues to follow a foreign exchange risk management policy based on yen-denominated contracts as a general principle and the use of forward contracts and other instruments for foreign-currency-denominated contracts. - FY2023-Q3RestatedAnnual report
「Although soaring prices for materials and equipment, including steel, put pressure on profit, earnings from foreign-currency-denominated projects increased due to yen depreciation」
Although uncertainty regarding foreign exchange movements remains, the yen's depreciation contributed to earnings through increased revenue from foreign-currency-denominated construction during the cumulative period of the current quarter. - FY2023-Q2Increase in foreign-currency-denominated construction revenue due to yen depreciationAnnual report
「Revenue from foreign-currency-denominated construction increased due to the yen's depreciation」
While sharp foreign exchange fluctuations remain a source of uncertainty, the yen's depreciation contributed to earnings in the current quarter through increased revenue from foreign-currency-denominated construction. - FY2023-Q1WorsenedAnnual report
「Shipbuilding negotiations have stagnated amid an uncertain environment, including surging crude oil and steel prices and sharp fluctuations in foreign exchange rates.」
Sharp fluctuations in foreign exchange rates were specifically identified as a factor behind the stagnation in new-build ship negotiations, underscoring uncertainty in the external environment related to foreign exchange movements. - FY2021RestatedAnnual report
「The Company generally uses yen-denominated contracts for new vessels, but where vessels are covered by foreign-currency-denominated contracts, it hedges foreign exchange risk through measures such as forward contracts while closely monitoring exchange rate movements.」
The Company continues to follow a foreign exchange risk management policy based on yen-denominated contracts as a general principle and the use of forward contracts and other instruments for foreign-currency-denominated contracts. - FY2020-Q3RestatedAnnual report
「Foreign exchange gain 0 17」
The foreign exchange gain for the cumulative third quarter of the current fiscal year was ¥0 million, down from ¥17 million in the cumulative period of the same quarter of the previous year, but no foreign exchange loss arose. - FY2019-Q2MitigatedAnnual report
「Foreign exchange gain 3 17」
The foreign exchange gain increased from ¥3 million in the same quarter of the previous year to ¥17 million in the current quarter, and no loss arose from foreign exchange fluctuations. - FY2018MitigatedAnnual report
「This was mainly because the impact of the foreign exchange loss of ¥158 million incurred in the previous consolidated fiscal year was absent in the current consolidated fiscal year.」
The foreign exchange loss of ¥158 million recorded in the previous fiscal year did not arise in the current fiscal year, while a foreign exchange gain of ¥3 million was recognized, reducing the impact of foreign exchange on earnings compared with the previous fiscal year. - FY2018-Q3MitigatedAnnual report
「Foreign exchange loss 158 —」
While a foreign exchange loss of ¥158 million was recorded in the same quarter of the previous year, no foreign exchange loss was recorded in the cumulative third quarter of the current consolidated fiscal year. - FY2018-Q2MitigatedAnnual report
「In addition, as the impact of foreign exchange was minor during the period, ordinary income was ¥107 million (ordinary loss of ¥411 million in the same quarter of the previous year), and net income attributable to owners of the parent was ¥104 million (net loss attributable to owners of the parent of ¥425 million in the same quarter of the previous year).」
Compared with a foreign exchange loss of ¥354 million in the same quarter of the previous year, the impact of foreign exchange was minor in the current quarter, resulting in a foreign exchange gain of ¥3 million. - FY2017RestatedAnnual report
「Significant fluctuations in foreign exchange rates may affect operating performance and financial condition. In response, the Company generally uses yen-denominated contracts for new vessels, but where vessels are covered by foreign-currency-denominated contracts, it hedges foreign exchange risk through measures such as forward contracts while closely monitoring exchange rate movements.」
The Company reconfirmed its foreign exchange risk and its hedging policy based on yen-denominated contracts and forward contracts. A foreign exchange loss of ¥158 million was recognized for the fiscal year. - FY2017-Q3MitigatedAnnual report
「In addition, as the dollar strengthened toward year-end due to U.S. policy rate hikes and expectations for the new administration, among other factors, the foreign exchange loss narrowed to ¥158 million as foreign currency holdings were converted into yen」
Although foreign exchange losses continued to arise, they narrowed to ¥158 million due to the dollar's strengthening trend and the conversion of foreign currency holdings into yen. - FY2017-Q2MaterialisedAnnual report
「Due to the deterioration in the profitability of foreign-currency-denominated vessels caused by the yen's appreciation since the beginning of the year, as well as the recognition of foreign exchange losses, among other factors」
The yen's appreciation reduced the profitability of foreign-currency-denominated vessels, and a foreign exchange loss of ¥354 million was recognized in earnings. - FY2017-Q1MaterialisedAnnual report
「Foreign exchange loss 298」
The continuing appreciation of the yen since the beginning of the year was described, and its impact materialized in profit and loss during the quarter as a ¥298 million foreign exchange loss. - FY2016First statedAnnual report
「Significant fluctuations in foreign exchange rates may affect business performance and financial position.」
Newbuild vessels are generally contracted in yen, while any vessels contracted in foreign currencies are hedged through forward contracts and other measures.