Inability to hedge due to sharp exchange-rate movements or reduced market liquidity
First written in FY2016. 7 of 9 entries say "Restated". Latest entry: FY2026.
No other company in this theme has enough history to compare yet.
- FY2026RestatedAnnual report
「However, if sharp exchange-rate movements occur due to natural disasters, war, terrorism, tighter regulations, contagious diseases, infectious diseases or any other cause, or if foreign exchange market liquidity declines, our Group may become unable to execute covering transactions with counterparties and may be unable to hedge the exchange-rate risk of positions arising from transactions with customers. In that event, the Group's financial condition, operating results and other matters could be materially affected.」
The risk of being unable to execute covering transactions due to sharp exchange-rate movements or declining liquidity is reaffirmed. - FY2025RestatedAnnual report
「However, if sharp exchange-rate movements occur due to natural disasters, war, terrorism, tighter regulations, contagious diseases, infectious diseases or any other cause, or if foreign exchange market liquidity declines, our Group may become unable to execute covering transactions with counterparties and may be unable to hedge the exchange-rate risk of positions arising from transactions with customers. In that event, the Group's financial condition, operating results and other matters could be materially affected.」
The risk of being unable to execute covering transactions due to sharp exchange-rate movements or declining liquidity is reaffirmed. - FY2024RestatedAnnual report
「However, if sharp exchange-rate movements occur due to natural disasters, war, terrorism, tighter regulations, contagious diseases, infectious diseases or any other cause, or if foreign exchange market liquidity declines, our Group may become unable to execute covering transactions with counterparties and may be unable to hedge the exchange-rate risk of positions arising from transactions with customers. In that event, the Group's financial condition, operating results and other matters could be materially affected.」
The risk of being unable to execute covering transactions due to sharp exchange-rate movements or declining liquidity is reaffirmed. - FY2023RestatedAnnual report
「If sharp exchange-rate movements occur due to natural disasters, war, terrorism, tighter regulations, contagious diseases, infectious diseases or any other cause, or if foreign exchange market liquidity declines, our Group may become unable to execute covering transactions with counterparties and may be unable to hedge the exchange-rate risk of positions arising from transactions with customers.」
The risk of being unable to execute covering transactions due to sharp exchange-rate movements or declining liquidity is reaffirmed. - FY2022RestatedAnnual report
「However, if sharp exchange-rate movements occur due to natural disasters, war, terrorism, tighter regulations, contagious diseases, infectious diseases or any other cause, or if foreign exchange market liquidity declines, our Group may become unable to execute covering transactions with counterparties and may be unable to hedge the exchange-rate risk of positions arising from transactions with customers.」
The risk of being unable to execute covering transactions due to sharp exchange-rate movements or declining liquidity is reaffirmed. - FY2021RestatedAnnual report
「If sharp exchange-rate movements occur due to natural disasters, war, terrorism, tighter regulations, contagious diseases, infectious diseases or any other cause, or if foreign exchange market liquidity declines, our Group may become unable to execute covering transactions with counterparties and may be unable to hedge the exchange-rate risk of positions arising from transactions with customers.」
The risk of being unable to execute covering transactions due to sharp exchange-rate movements or declining liquidity is reaffirmed. - FY2020WorsenedAnnual report
「However, if sharp exchange-rate movements occur due to natural disasters, war, terrorism, tighter regulations, contagious diseases, infectious diseases or any other cause, or if foreign exchange market liquidity declines, our Group may become unable to execute covering transactions with counterparties and may be unable to hedge the exchange-rate risk of positions arising from transactions with customers.」
Contagious and infectious diseases were newly specified as causes of sharp exchange-rate movements and declining liquidity. - FY2018RestatedAnnual report
「If sharp exchange-rate movements occur due to natural disasters, war, terrorism, tighter regulations or any other cause, or if foreign exchange market liquidity declines, our Group may become unable to execute covering transactions with counterparties and may be unable to hedge the exchange-rate risk of positions arising from transactions with customers.」
The risk of being unable to execute covering transactions due to sharp exchange-rate movements or declining market liquidity is reaffirmed. - FY2016First statedAnnual report
「If sharp exchange-rate movements occur due to natural disasters, war, terrorism, tighter regulations or any other cause, or if foreign exchange market liquidity declines, our Group may become unable to execute covering transactions with counterparties and may be unable to hedge the exchange-rate risk of positions arising from transactions with customers.」
While maintaining a framework with more than 20 covering counterparties, the company identifies the inability to hedge when market liquidity declines as a risk.