Foreign exchange risk related to foreign-currency-denominated lease transactions and product investment contributions
First written in FY2016. 5 of 21 entries say "Mitigated", first in FY2023. Latest entry: FY2025.
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- FY2025WorsenedAnnual report
「Forward exchange transaction: yen purchase (US dollar sale) 647 — △25 △25」
Foreign-currency derivatives continued to consist primarily of foreign exchange forwards, but the notional amount declined from ¥3,405 million to ¥647 million, resulting in a valuation loss of ¥25 million. - FY2025-H1MitigatedAnnual report
「Currency; forward exchange transaction; yen purchase (US dollar sale); 2,849; 51; 51」
Foreign-currency derivatives continued to consist primarily of foreign exchange forwards for yen purchases and US dollar sales. The notional amount declined from ¥3,405 million to ¥2,849 million, and the valuation gain amounted to ¥51 million. - FY2024MitigatedAnnual report
「If such circumstances are anticipated, we may enter into foreign exchange forwards or currency-related derivative transactions to mitigate foreign exchange risk.」
The policy of mitigating risk through foreign exchange forwards and other instruments has continued. Foreign exchange forwards at the end of the period generated a valuation gain of ¥133 million, an improvement from the valuation loss at the end of the previous fiscal year. - FY2024-Q2MitigatedAnnual report
「Second-quarter consolidated accounting period (31 March 2024): underlying asset; transaction type; contract amount (¥ million); fair value (¥ million); valuation gain or loss (¥ million); currency; forward exchange transaction; yen purchase (US dollar sale); 9,510; △216; △216」
Foreign-currency derivatives continued to consist primarily of foreign exchange forwards, with a notional amount of ¥951 million and a valuation loss of ¥216 million, representing a decline in the valuation loss from the end of the previous fiscal year. - FY2024-Q1MitigatedAnnual report
「Forward exchange transaction yen purchase (US dollar sale) 17,539 △120 △120」
Foreign-currency derivatives continued to consist primarily of foreign exchange forwards, while the valuation loss declined from ¥1,569 million at the end of the previous fiscal year to ¥120 million. - FY2023MitigatedAnnual report
「Transactions other than market transactions Currency Foreign exchange forward transactions Yen purchase (US$ sale) 16,578 — △1,569 △1,569」
Foreign-currency derivatives continued to consist primarily of foreign exchange forwards for yen purchases and US dollar sales, while the valuation loss declined from ¥3,485 million at the end of the previous fiscal year to ¥1,569 million. - FY2023-Q3Concentration in foreign exchange forwards and reduction in valuation lossesAnnual report
「Third-quarter consolidated accounting period (30 June 2023): underlying asset; transaction type; contract amount (¥ million); fair value (¥ million); valuation gain or loss (¥ million); currency; forward exchange transaction; yen purchase (US dollar sale); 17,966; △1,628; △1,628」
Derivatives related to foreign-currency-denominated projects and other items continued to consist primarily of foreign exchange forwards for yen purchases and US dollar sales, while the valuation loss declined from ¥3,485 million at the end of the previous fiscal year to ¥1,628 million. - FY2023-Q2Continued reversal in valuation gains and losses on foreign exchange forwardsAnnual report
「Second-quarter consolidated accounting period (31 March 2023): underlying asset; transaction type; contract amount (¥ million); fair value (¥ million); valuation gain or loss (¥ million); currency; forward exchange transaction; yen purchase (US dollar sale); 18,444; 52; 52」
Derivatives related to foreign-currency-denominated projects and other items continued to consist primarily of foreign exchange forwards. The yen purchase/US dollar sale contracts generated a valuation gain of ¥52 million, continuing the reversal from the ¥3,485 million valuation loss at the end of the previous fiscal year. - FY2023-Q1Concentration in foreign exchange forwards and reversal in valuation gains and lossesAnnual report
「First-quarter consolidated accounting period (31 December 2022): underlying asset: currency; transaction type: forward exchange transactions; yen purchase (US dollar sale) 18,986 338 338; yen sale (US dollar purchase) 1,965 △24 △24」
Derivatives related to foreign-currency-denominated projects and other items continued to consist primarily of foreign exchange forwards, but the valuation loss on yen purchases and US dollar sales reversed to a valuation gain. Contracts for yen sales and US dollar purchases were also newly recorded. - FY2022Concentration in foreign exchange forwards and substantial increase in valuation lossesAnnual report
「When silent partnership interests, voluntary partnership interests or trust beneficiary rights are transferred to investors in a foreign currency, or when we borrow in a foreign currency, we may bear foreign exchange risk. If such circumstances are anticipated, we may enter into foreign exchange forwards or currency-related derivative transactions to mitigate foreign exchange risk.」
Foreign-currency derivatives were concentrated in foreign exchange forwards for yen purchases and US dollar sales, with a notional amount of ¥1,743.8 million and a valuation loss of ¥348.5 million. - FY2022-Q3Concentration in foreign exchange forwards and substantial increase in valuation lossesAnnual report
「Forward exchange transaction: yen purchase (US dollar sale) 16,087.418 △3,651.362 △3,651.362」
Foreign-currency derivatives were concentrated in foreign exchange forwards for yen purchases and US dollar sales, and the valuation loss increased from approximately ¥250 million at the end of the previous fiscal year to ¥3,651 million. - FY2022-Q2Concentration in foreign exchange forwards and increase in valuation lossesAnnual report
「Forward exchange transaction: yen purchase (US dollar sale) 16,610.771 △1,588.633 △1,588.633」
Foreign-currency derivatives were concentrated in foreign exchange forwards for yen purchases and US dollar sales, with a notional amount of ¥16,611 million and a valuation loss of ¥1,589 million. Foreign exchange exposure and valuation losses related to foreign-currency-denominated projects and other items increased. - FY2022-Q1Concentration in foreign exchange forwards and recognition of valuation lossesAnnual report
「Forward exchange transaction: yen purchase (US dollar sale) 12,987.457 △539.528 △539.528」
Foreign-currency derivatives centered on foreign exchange forwards for yen purchases (US dollar sales), with a notional amount of ¥1,298.7 million and a valuation loss of ¥539 million. - FY2021-Q3Expiry of option transactions and increase in foreign exchange forwardsAnnual report
「Forward exchange transaction: yen purchase (US dollar sale) ¥13,505.206 million」
Foreign-currency derivatives changed from the currency option contracts held at the end of the previous fiscal year to a composition centered on foreign exchange forwards for yen purchases (US dollar sales), amounting to ¥13,505 million. - FY2021-Q2Significant decrease in option contract amounts and increase in forward exchange contractsAnnual report
「Derivative transactions involving currency as the underlying asset have become important to the operation of the business, and significant fluctuations have been observed compared with the end of the previous consolidated fiscal year.」
The notional amount of currency option contracts declined from ¥1,859 million at the end of the previous fiscal year to ¥14.5 million, while foreign exchange forwards for yen purchases (US dollar sales) amounted to ¥921.3 million, changing the composition of foreign-currency exposure. - FY2021-Q1Decrease in option contract amounts and increase in forward exchange contractsAnnual report
「Derivative transactions involving currency as the underlying asset have become important to the operation of the business, and significant fluctuations have been observed compared with the end of the previous consolidated fiscal year.」
While the notional amount of currency option contracts related to foreign-currency transactions declined, foreign exchange forwards, including US dollar sales/yen purchases, increased, resulting in changes in the transaction composition and valuation gains and losses. - FY2020Decline in option contract amounts and changes in the composition of foreign exchange forwardsAnnual report
「When silent partnership interests and trust beneficiary rights are transferred to investors in a foreign currency, or when we borrow in a foreign currency, we may bear foreign exchange risk.」
Continues to disclose the policy of mitigating foreign exchange risk associated with foreign-currency transfers and borrowings through foreign exchange forwards or, as necessary, currency-related derivatives. - FY2020-Q3Decrease in option contract amounts and change in the composition of forward exchange contractsAnnual report
「Derivative transactions involving currency as the underlying asset have become important to the operation of the business, and significant fluctuations have been observed compared with the end of the previous consolidated fiscal year.」
In foreign-currency transactions, the notional amount of currency option contracts declined, while foreign exchange forward contracts, including US dollar sales/yen purchases and euro-related contracts, were recorded, resulting in changes in the transaction composition and valuation gains and losses. - FY2018RestatedAnnual report
「In addition, when we transfer silent partnership interests or trust beneficiary rights to investors in a foreign currency, we bear foreign exchange risk.」
Continues to disclose foreign exchange risk associated with the transfer of foreign-currency-denominated partnership interests and trust beneficiary rights. - FY2017RestatedAnnual report
「When we transfer silent partnership interests or trust beneficiary rights to investors in a foreign currency, we bear foreign exchange risk.」
Continues to disclose foreign exchange risk associated with the transfer of foreign-currency-denominated projects, partnership interests and trust beneficiary rights. - FY2016First statedAnnual report
「The business service fees that we receive from our subsidiaries (SPCs) are primarily denominated in foreign currencies. Accordingly, if the yen appreciates, fluctuations in foreign exchange rates when these fees are translated into yen may cause the fees to be lower than initially projected, potentially affecting the performance of our Group.」
Explains the risk of yen appreciation in connection with business service fees, investors’ yen-translated gains and losses, and the yen-denominated transfer prices of product investments.