Foreign Exchange Risk Related to Imports
First written in FY2017. 2 of 3 entries say "Restated". Latest entry: FY2021.
The whole theme swung hardest in 2022: 43 of 67 companies on the "Worse" side.
32 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「We enter into forward foreign exchange contracts to hedge the foreign exchange risk on part of our imported purchases. However, a sharp movement in exchange rates could increase purchase costs beyond expectations and reduce gross profit, and there is no assurance that foreign exchange risk can be completely avoided.」
While hedging with forward foreign exchange contracts, the company reiterates the risk that sharp exchange-rate movements could increase purchase costs and reduce gross profit. - FY2018RestatedAnnual report
「We enter into forward foreign exchange contracts to hedge the foreign exchange risk on part of our imported purchases. However, a sharp movement in exchange rates could increase purchase costs beyond expectations and reduce gross profit, and there is no assurance that foreign exchange risk can be completely avoided.」
While hedging with forward foreign exchange contracts, the company reiterates the possibility that sharp exchange-rate movements could increase purchase costs and reduce gross profit. - FY2017First statedAnnual report
「We enter into forward foreign exchange contracts to hedge the foreign exchange risk on part of our imported purchases. However, a sharp movement in exchange rates could increase purchase costs beyond expectations and reduce gross profit, and there is no assurance that foreign exchange risk can be completely avoided.」
While hedging with forward foreign exchange contracts, the company explicitly identifies for the first time the possibility that sharp exchange-rate movements could increase purchase costs and reduce gross profit.