Exchange-Rate Fluctuations Associated with Imports, Exports, and Foreign-Currency-Denominated Contracts
First written in FY2016. 8 of 18 entries say "Materialised", first in FY2017-Q1. Latest entry: FY2026.
Sanoyas Holdings moved to the "Worse" side of this theme in 2019, 2 years before the typical company in this theme (2021).
The whole theme swung hardest in 2022: 14 of 24 companies on the "Worse" side.
1 other company's latest entry also says "Reframed".
- FY2026Foreign-exchange exposure reorganized with a focus on the leisure businessAnnual report
「The leisure business involves imports and exports, and fluctuations in foreign-exchange rates may affect the performance of that business.」
Following the transfer of the shipbuilding business, the disclosure of foreign-exchange risk was reorganized from an explanation focused on foreign-currency-denominated newbuild vessels to one focused on import and export exposure in the leisure business. - FY2021MitigatedAnnual report
「As a result, the Group's foreign-exchange risk has decreased substantially from previous levels.」
The previously substantial foreign-exchange exposure declined significantly following the transfer of the shipbuilding business and the Australian observation-wheel business. However, foreign-exchange risk associated with imports and exports in the M&T business remains. - FY2021-Q3MaterialisedAnnual report
「In the third quarter, the yen continued to appreciate, reducing expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future and worsening the profitability of each vessel. The operating loss was ¥3,127 million, compared with an operating loss of ¥1,970 million in the same quarter of the previous year, partly because the provision for losses on construction contracts, including provisions for newly ordered vessels, was increased.」
The deterioration in profitability of US dollar-denominated newbuild vessels already ordered caused by the yen's appreciation continued to result in an additional provision for losses on construction contracts and an operating loss of ¥3,127 million in the shipbuilding business. - FY2021-Q2MaterialisedAnnual report
「In the second quarter, the yen appreciated, reducing expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future and worsening the profitability of each vessel. The operating loss was ¥1,450 million, compared with an operating loss of ¥2,164 million in the same quarter of the previous year, partly because the provision for losses on construction contracts, including provisions for newly ordered vessels, was increased.」
The decline in expected yen-denominated revenue and deterioration in profitability of US dollar-denominated newbuild vessels already ordered caused by the yen's appreciation resulted in an additional provision for losses on construction contracts and an operating loss in the shipbuilding business. - FY2021-Q1MaterialisedAnnual report
「In the first quarter, the yen appreciated, reducing expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future and worsening the profitability of each vessel. The operating loss was ¥292 million, compared with an operating loss of ¥1,173 million in the same quarter of the previous year, partly because the provision for losses on construction contracts was increased.」
The deterioration in profitability of US dollar-denominated newbuild vessels already ordered caused by the yen's appreciation resulted in an additional provision for losses on construction contracts and an operating loss of ¥292 million in the current quarter. - FY2020-Q3MaterialisedAnnual report
「Operating profit was an operating loss of ¥2,018 million, compared with an operating loss of ¥62 million in the same quarter of the previous year. Costs remained elevated because of higher material and labor costs, while the yen's appreciation compared with the end of March 2019 reduced expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future, including newly ordered vessels.」
The yen's appreciation reduced expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered, and the resulting deterioration in profitability led to an operating loss of ¥2,018 million in the shipbuilding business. - FY2020-Q2MaterialisedAnnual report
「Operating profit was an operating loss of ¥2,193 million, compared with operating profit of ¥1,475 million in the same quarter of the previous year. This was because the yen appreciated from April 2019, reducing expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future, including newly ordered vessels, and thereby worsening the profitability of each vessel.」
The yen's appreciation since April 2019 reduced the profitability of US dollar-denominated newbuild vessels already ordered, resulting in an operating loss of ¥2,193 million in the shipbuilding business. - FY2020-Q1MaterialisedAnnual report
「In the first quarter, the yen appreciated, reducing expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future and worsening the profitability of each vessel. The operating loss was ¥1,177 million, compared with operating profit of ¥787 million in the same quarter of the previous year, partly because the provision for losses on construction contracts was increased.」
The yen's appreciation reduced the profitability of US dollar-denominated newbuild vessels already ordered, affecting results through an additional provision for losses on construction contracts and an operating loss in the shipbuilding business. - FY2019MitigatedAnnual report
「Despite factors including higher steel prices, the yen depreciated from the end of the previous consolidated fiscal year, increasing expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future and improving the profitability of each vessel. Operating profit was ¥203 million, compared with an operating loss of ¥3,463 million in the previous fiscal year, partly because the provision for losses on construction contracts at the end of the previous consolidated fiscal year was reversed.」
The yen's depreciation from the end of the previous consolidated fiscal year improved the profitability of US dollar-denominated newbuild vessels already ordered, resulting in a reversal of the provision for losses on construction contracts. - FY2019-Q3MaterialisedAnnual report
「In the third quarter, the yen appreciated toward year-end, reducing expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future and worsening the profitability of each vessel. The operating loss was ¥62 million, compared with operating profit of ¥339 million in the same quarter of the previous year, partly because the provision for losses on construction contracts was increased from the end of the second quarter.」
The yen's appreciation at year-end reduced the profitability of US dollar-denominated newbuild vessels already ordered, affecting results through an additional provision for losses on construction contracts and an operating loss in the shipbuilding business. - FY2019-Q1MitigatedAnnual report
「In the first quarter, the yen depreciated, increasing expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future and improving the profitability of each vessel. Operating profit therefore increased year on year, partly because the provision for losses on construction contracts accumulated at the end of the previous consolidated fiscal year was reversed. The Company seeks to hedge foreign-exchange risk by entering into forward contracts under certain rules, but does not fully hedge US dollar-denominated receivables due several years in the future.」
The weaker yen improved the profitability of US dollar-denominated newbuild vessels already ordered, and the provision for losses on construction contracts accumulated at the end of the previous fiscal year was reversed. The Company discloses that it hedges through forward contracts but does not fully hedge its exposure. - FY2018-Q2MitigatedAnnual report
「Operating profit was ¥360 million in the second quarter, compared with an operating loss of ¥2,500 million in the same quarter of the previous year. The previous second quarter was loss-making because the yen appreciated, whereas the yen exchange rate remained stable in the current second quarter.」
The stable yen exchange rate improved the shipbuilding business's operating loss caused by yen appreciation in the same quarter of the previous year to an operating profit of ¥360 million. - FY2018-Q1MitigatedAnnual report
「The order backlog of the shipbuilding business, including newbuild vessels, the marine and repair-vessel business, and the plant business, totaled ¥50,809 million based on the percentage-of-completion method. Revenue from the shipbuilding business was ¥8,067 million, down ¥295 million, or 3.5%, from the same quarter of the previous year. Operating profit was ¥384 million, compared with an operating loss of ¥2,198 million in the same quarter of the previous year, when the yen appreciated rapidly. This improvement resulted from the yen exchange rate remaining stable in the current first quarter.」
With the yen exchange rate remaining stable, the shipbuilding business's operating loss caused by the rapid appreciation of the yen in the same quarter of the previous year improved to an operating profit in the current quarter. - FY2017RestatedAnnual report
「In the shipbuilding business, newbuild vessels, which account for most revenue, have a high export ratio. Although some contracts are denominated in yen, contracts denominated in US dollars also exist. Materials are also imported, and fluctuations in foreign-exchange rates therefore affect both revenue and earnings.」
The Company continues to disclose foreign-exchange exposure related to US dollar-denominated newbuild vessel contracts, imported materials, and overseas businesses in the land-based and leisure segments. - FY2017-Q3MitigatedAnnual report
「In the third quarter, the yen depreciated sharply, increasing expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future and improving the profitability of each vessel. As a result, the Company reversed ¥2,915 million of the ¥2,684 million provision for losses on construction contracts added through the second quarter.」
The shift to a weaker yen improved the profitability of US dollar-denominated newbuild vessels already ordered, and the provision for losses on construction contracts accumulated through the previous quarter was reversed. - FY2017-Q2WorsenedAnnual report
「In the second quarter, the yen appreciated by more than ¥11 per US dollar compared with the end of March 2016. As a result, expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future declined, reducing the profitability of each vessel. The Company recorded an operating loss of ¥2,500 million, mainly because it increased the provision for losses on construction contracts by ¥2,684 million.」
The yen's appreciation widened to more than ¥11, and lower profitability of US dollar-denominated newbuild vessels already ordered led to an additional ¥2,684 million provision for losses on construction contracts. - FY2017-Q1MaterialisedAnnual report
「Because the yen appreciated by nearly ¥10 per US dollar compared with the end of March 2016, expected yen-denominated revenue from US dollar-denominated newbuild vessels already ordered and to be built in the future declined, reducing the profitability of each vessel and resulting in an additional ¥2,282 million provision for losses on construction contracts.」
The stronger yen reduced the profitability of US dollar-denominated newbuild vessels already ordered, resulting in an additional ¥2,282 million provision for losses on construction contracts. - FY2016First statedAnnual report
「In the shipbuilding business, newbuild vessels, which account for most revenue, have a high export ratio. Although some contracts are denominated in yen, contracts denominated in US dollars also exist. Materials are also imported, and fluctuations in foreign-exchange rates therefore affect both revenue and earnings.」
The disclosure describes foreign-exchange exposure through overseas newbuild vessels, imported materials, and overseas businesses in the land-based and leisure segments.