Non-speculative treasury and derivatives management
First written in FY2016. 4 of 5 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2019: 5 of 43 companies on the "Worse" side.
37 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「To mitigate credit risk in using derivatives, the company transacts only with highly creditworthy financial institutions in Japan.」
The policy of limiting derivatives use to hedging purposes and not engaging in speculative transactions remains in place. - FY2019RestatedAnnual report
「Derivatives are used to hedge the interest rate risk associated with borrowings, and our policy is not to engage in speculative transactions.」
The policy of limiting transactions to hedging purposes and avoiding speculative transactions remains in place. - FY2018RestatedAnnual report
「The group generally limits the investment of funds to short-term deposits and similar instruments, while raising funds through borrowings from banks and other financial institutions. Derivatives are used to hedge the risk of interest rate fluctuations on borrowings, and the group does not engage in speculative transactions.」
The policy of relying on short-term deposits and bank borrowings, limiting derivatives use to hedging purposes, and avoiding speculative transactions remains in place. - FY2017RestatedAnnual report
「The group generally limits the investment of funds to short-term deposits and similar instruments, while raising funds through borrowings from banks and other financial institutions. Derivatives are used to hedge the risk of interest rate fluctuations on borrowings, and the group does not engage in speculative transactions.」
The policy of relying on short-term deposits, bank borrowings, and derivatives to hedge interest rate risk, while avoiding speculative transactions, remains in place. - FY2016First statedAnnual report
「The group generally limits the investment of funds to short-term deposits and similar instruments, while raising funds through borrowings from banks and other financial institutions. Derivatives are used to hedge the risk of interest rate fluctuations on borrowings, and the group does not engage in speculative transactions.」
The policy is to rely primarily on short-term deposits, bank borrowings, and interest rate and foreign exchange hedges, and not to engage in speculative transactions.