Foreign Exchange Risk Associated with an Increase in Foreign Securities
First written in FY2016. 24 of 32 entries say "Worsened", first in FY2017. Latest entry: FY2026.
Japan Post Bank moved to the "Worse" side of this theme in 2017.
0 other companies' latest entry also says "Other".
- FY2026Changes in the portfolio mix due to increased foreign bonds and decreased investment trustsAnnual report
「Of which: foreign bonds 27,823,728 12.08 29,013,681 13.00 1,189,952 Of which: investment trusts 59,437,328 25.81 59,056,643 26.47 △380,684」
Foreign bond balances increased, while investment trusts investing primarily in foreign bonds decreased, changing the composition of foreign securities carrying foreign exchange risk. - 2026-05-15WorsenedEarnings presentation materials
「2025年度末の運用資産のうち、国債は41.4兆円、外国証券等は88.2兆円。」
外国証券等の残高が前年度末の87.4兆円から88.2兆円へ増加し、為替リスクを伴うエクスポージャーの拡大が続いた。 - FY2026-H1WorsenedAnnual report
「Of which: foreign bonds 27,823,728 12.08 27,999,508 12.17 175,780 Of which: investment trusts 59,437,328 25.81 59,711,962 25.97 274,634」
Balances of both foreign bonds and investment trusts investing primarily in foreign bonds increased, expanding exposure to foreign securities carrying foreign exchange risk. - FY2025Changes in the composition of foreign securities due to a decrease in foreign bonds and an increase in investment trustsAnnual report
「Of which: foreign bonds 29,326,788 11.54 27,823,728 12.08 △1,503,059 Of which: investment trusts 57,156,052 23.01 59,437,328 25.81 2,281,275」
Foreign bond balances decreased, while investment trusts investing primarily in foreign bonds increased, changing the composition of foreign securities exposure. - FY2025-H1Changes in the composition of foreign securities due to a decrease in foreign bonds and an increase in investment trustsAnnual report
「Of which: foreign bonds 27,909,797 11.84 Of which: investment trusts 58,759,287 24.94」
Foreign bond balances at the end of September 2024 decreased from the end of March 2024, while investment trusts investing primarily in foreign bonds increased. Foreign securities exposure has changed over time as its composition has shifted. - FY2024WorsenedAnnual report
「Of which: foreign bonds 26,139,010 11.54 29,326,788 12.69 3,187,778 Of which: investment trusts 52,110,200 23.01 57,156,052 24.73 5,045,851」
Balances of both foreign bonds and investment trusts investing primarily in foreign bonds increased, expanding exposure to foreign securities carrying foreign exchange risk. - FY2024-Q3WorsenedAnnual report
「Of which: foreign bonds 26,139,010 11.54 28,018,856 12.38 1,879,846 Of which: investment trusts 52,110,200 23.01 55,200,316 24.39 3,090,115」
Foreign bond balances increased by ¥1.8798 trillion from the end of the previous fiscal year, while investment trust balances increased by ¥3.0901 trillion. Exposure to foreign securities carrying foreign exchange risk continues to expand. - FY2024-Q2WorsenedAnnual report
「Of which: foreign bonds 26,139,010 11.54 27,973,287 12.33 1,834,277 Of which: investment trusts 52,110,200 23.01 53,740,238 23.69 1,630,037」
Foreign bond balances increased from ¥26.1390 trillion to ¥27.9732 trillion, while investment trusts increased from ¥52.1102 trillion to ¥53.7402 trillion. Exposure to foreign securities carrying foreign exchange risk is expanding. - FY2024-Q1WorsenedAnnual report
「Of which: foreign bonds 26,139,010 11.54 27,643,967 12.18 1,504,957 Of which: investment trusts 52,110,200 23.01 52,842,048 23.30 731,847」
Foreign bond balances increased from ¥26.1390 trillion at the end of March 2023 to ¥27.6439 trillion, while investment trusts increased from ¥52.1102 trillion to ¥52.8420 trillion. Exposure to foreign securities carrying foreign exchange risk is expanding. - FY2023WorsenedAnnual report
「In the foreign exchange market, the exchange rate was ¥115.02 to the US dollar at the end of 2021, but the yen depreciated to ¥150.26 at one point in October 2022 and stood at ¥133.53 to the US dollar at the end of March 2023, with the yen's depreciation trend continuing after significant volatility.」
The yen exchange rate fluctuated from ¥115.02 to as high as ¥150.26, making increases in foreign currency funding costs and foreign bond hedging costs apparent. - FY2023-Q3WorsenedAnnual report
「In the foreign exchange market, reflecting differences in the direction of monetary policy in Japan, the United States and Europe and trade statistics, the yen fell sharply to the ¥150 range against the US dollar in late October, and the authorities intervened in the foreign exchange market. After the Bank of Japan revised its operation of YCC, the yen rapidly recovered to the ¥131 range. Against the euro, the yen fell to the ¥147 range before rising to around ¥140.」
After the yen fell to the ¥150 range against the US dollar, it recovered to the ¥131 range following the revision of YCC operations, resulting in increased exchange rate volatility. - FY2023-Q2WorsenedAnnual report
「In the foreign exchange market, reflecting differences in the direction of monetary policy in Japan and Europe and the United States, the yen temporarily fell to the ¥145 range against the US dollar in late September, and the Ministry of Finance and the Bank of Japan conducted foreign exchange intervention to buy yen and sell dollars for the first time in 24 years.」
With foreign-currency-denominated assets, including foreign securities, on its balance sheet, the yen fell to the ¥145 range against the US dollar, increasing volatility in market conditions carrying foreign exchange risk. - FY2023-Q1WorsenedAnnual report
「In the foreign exchange market, reflecting differences in the direction of monetary policy in Japan and Europe and the United States, the yen depreciated rapidly and significantly to around ¥136 against the US dollar and around ¥144 against the euro.」
With foreign-currency-denominated assets, including foreign securities, on its balance sheet, the yen depreciated rapidly and significantly to around ¥136 against the US dollar and around ¥144 against the euro, demonstrating changes in market conditions carrying foreign exchange risk. - FY2022WorsenedAnnual report
「As of the end of March 2022, the Bank invested its ¥193.4 trillion in deposits, more than 90% of which were personal deposits, primarily in securities totaling ¥139.5 trillion, including ¥49.2 trillion in government bonds and ¥74.1 trillion in other securities, consisting of foreign bonds and investment trusts whose principal investments are foreign bonds, thereby securing earnings centered on investment income.」
Other securities, including foreign securities, increased to ¥74.1 trillion, comprising ¥24.5 trillion in foreign bonds and ¥49.5 trillion in investment trusts. Exposure to foreign-currency-denominated assets carrying foreign exchange risk is expanding. - FY2022-Q3WorsenedAnnual report
「Of which: foreign bonds 23,505,116 10.65 24,213,901 10.66 708,784 Of which: investment trusts 47,591,186 21.57 49,438,206 21.77 1,847,019」
Foreign bond balances increased by ¥708.784 billion from the end of the previous fiscal year, while investment trusts investing primarily in foreign bonds increased by ¥1.847019 trillion. Exposure to foreign securities carrying foreign exchange risk is expanding. - FY2022-Q2WorsenedAnnual report
「Of which: foreign bonds 23,505,116 10.65 23,859,779 10.64 354,663 Of which: investment trusts 47,591,186 21.57 48,564,480 21.66 973,293」
Foreign bond balances increased by ¥354.6 billion from the end of the previous fiscal year, while investment trusts investing primarily in foreign bonds increased by ¥973.3 billion. Exposure to foreign securities carrying foreign exchange risk is expanding. - FY2022-Q1WorsenedAnnual report
「Of which: foreign bonds 23,505,116 10.65 24,068,643 10.74 563,527 Of which: investment trusts 47,591,186 21.57 48,828,630 21.79 1,237,443」
Foreign bonds increased by ¥563.5 billion from the end of the previous fiscal year, while investment trusts investing primarily in foreign bonds increased by ¥1.2374 trillion, expanding exposure to investment assets carrying foreign exchange risk. - FY2021Continued decrease in foreign bonds and increase in investment trustsAnnual report
「Of which: foreign bonds 23,706,870 11.42 23,505,116 10.65 △201,754 Of which: investment trusts 41,901,017 20.19 47,591,186 21.57 5,690,169」
Foreign bond balances decreased by ¥201.8 billion from the end of the previous fiscal year, while investment trusts investing primarily in foreign bonds increased by ¥5.6901 trillion. Foreign securities exposure has changed over time as its composition has shifted. - FY2021-Q3Continued decrease in foreign bonds and increase in investment trustsAnnual report
「Of which: foreign bonds 23,706,870 11.42 22,410,472 10.15 △1,296,397 Of which: investment trusts 41,901,017 20.19 47,611,279 21.56 5,710,262」
Foreign bonds decreased by ¥1.2963 trillion from the end of the previous fiscal year, while investment trusts investing primarily in foreign bonds increased by ¥5.7102 trillion. The composition of investment assets carrying foreign exchange risk continues to change. - FY2021-Q2Changes in the composition of foreign securities due to a decrease in foreign bonds and an increase in investment trustsAnnual report
「Of which: foreign bonds 23,706,870 11.42 23,194,911 10.59 △511,958 Of which: investment trusts 41,901,017 20.19 46,967,284 21.44 5,066,266」
Foreign bond balances decreased by ¥511.9 billion from the end of the previous fiscal year, while investment trusts investing primarily in foreign bonds increased by ¥5.0662 trillion. Investment assets carrying foreign exchange risk have changed over time as their composition has shifted. - FY2021-Q1Changes in the composition of foreign securitiesAnnual report
「Of which: foreign bonds 23,706,870 11.42 23,613,151 10.95 △93,718 Of which: investment trusts 41,901,017 20.19 45,169,281 20.94 3,268,264」
Foreign bond balances decreased by ¥93.7 billion from the end of the previous fiscal year, while investment trusts investing primarily in foreign bonds increased by ¥3.2682 trillion. Balances of investment assets carrying foreign exchange risk have changed over time as their composition has shifted. - FY2020WorsenedAnnual report
「Japanese government bonds held by the Bank (¥53.6 trillion as of the end of March 2020, or 25% of total assets) and foreign securities (as of the end of March 2020, other securities, consisting of foreign bonds and investment trusts whose principal investments are foreign bonds, amounted to ¥65.6 trillion, or 31% of total assets)」
Other securities, including foreign securities, amounted to ¥65.6 trillion, or 31% of total assets, and exposure to foreign-currency-denominated assets carrying foreign exchange risk increased. - FY2020-Q3WorsenedAnnual report
「Of which: foreign bonds 22,035,528 10.69 23,780,324 11.19 1,744,795」
Foreign bond balances increased by ¥1.744795 trillion from the end of the previous consolidated fiscal year to ¥23.780324 trillion. Exposure to foreign-currency-denominated assets carrying foreign exchange risk is expanding. - FY2020-Q2WorsenedAnnual report
「Of which, foreign bonds 22,035,528 10.69 22,668,431 10.80 632,902」
The balance of foreign bonds increased by ¥632.9 billion from the end of the previous fiscal year to ¥22,668.4 billion. Exposure to foreign-currency-denominated assets subject to foreign exchange risk expanded. - FY2019WorsenedAnnual report
「Financial assets, including foreign securities (as of 31 March 2019, other securities, comprising foreign bonds and investment trusts whose principal investments are foreign bonds, amounted to ¥62.4 trillion, equivalent to 29% of total assets)」
Other securities, including foreign securities, reached ¥62.4 trillion, or 29% of total assets, expanding exposure to foreign-currency-denominated assets subject to foreign exchange risk. - FY2019-Q3WorsenedAnnual report
「Of which, foreign bonds 20,244,358 9.74 21,776,795 10.53 1,532,436」
The balance of foreign bonds increased by ¥1,532.4 billion from the end of the previous fiscal year to ¥21,776.8 billion. Exposure to foreign-currency-denominated assets subject to foreign exchange risk expanded. - FY2019-Q2WorsenedAnnual report
「Of which, foreign bonds 20,244,358 9.74 21,550,844 10.49 1,306,485」
The balance of foreign bonds increased from approximately ¥20,244.4 billion at the end of the previous fiscal year to approximately ¥21,550.8 billion, an increase of ¥1,306.4 billion. Exposure to foreign-currency-denominated assets subject to foreign exchange risk expanded. - FY2018WorsenedAnnual report
「Financial assets, including foreign securities (as of 31 March 2018, other securities, comprising foreign bonds and investment trusts whose principal investments are foreign bonds, amounted to ¥59.2 trillion, equivalent to 28% of total assets)」
The balance of foreign securities and other assets reached ¥59.2 trillion, or 28% of total assets, expanding exposure to foreign-currency-denominated assets subject to foreign exchange risk. - FY2018-Q3WorsenedAnnual report
「Other 55,629,934 57,641,604 2,011,669 Of which, foreign bonds 19,412,620 20,905,745 1,493,125 Of which, investment trusts (Note 2) 35,893,374 36,413,251 519,876」
The amount of other securities recorded on the quarterly balance sheet increased from ¥5,304.4 billion at the end of March 2017 to ¥5,764.1 billion, expanding exposure to foreign-currency-denominated assets, including foreign securities. - FY2018-Q2WorsenedAnnual report
「Foreign securities (Note 1) 475,459 538,620 454,463 523,748」
The balance of foreign securities increased from ¥5,237.4 billion at the end of March 2017 to ¥5,386.2 billion at the end of September 2017, expanding exposure to foreign-currency-denominated assets subject to foreign exchange risk. - FY2017WorsenedAnnual report
「The Group's holdings of foreign securities have increased (as of 31 March 2017, other securities, comprising foreign bonds and investment trusts whose principal investments are foreign bonds, amounted to ¥52.9 trillion, equivalent to 25% of total assets), but some foreign-currency-denominated assets may be left unhedged or hedged only for the short term to mitigate foreign exchange risk.」
Holdings of foreign securities increased to ¥52.9 trillion, or 25% of total assets, expanding exposure to foreign-currency-denominated assets subject to foreign exchange risk. - FY2016First statedAnnual report
「The Group's holdings of foreign securities have increased (¥45.3 trillion as of 31 March 2016, equivalent to 21% of total assets), but some foreign-currency-denominated assets may be left unhedged or hedged only for the short term to mitigate foreign exchange risk.」
While promoting international portfolio diversification, the Group identifies unhedged exposures and fluctuations in hedging costs as risks.