Foreign-exchange risk associated with the procurement of U.S. dollar-denominated tombstones from China
First written in FY2016. 4 of 10 entries say "Materialised", first in FY2023-Q1. Latest entry: FY2026.
Nichiryoku moved to the "Worse" side of this theme in 2022, the same year as the typical company in this theme.
The whole theme swung hardest in 2022: 42 of 66 companies on the "Worse" side.
1 other company's latest entry also says "Softened".
- FY2026SoftenedAnnual report
「Because the stone materials we handle are primarily dependent on imports, fluctuations in foreign exchange rates may affect cost of sales.」
The disclosure has been reorganised from the previous specific explanation that imports were almost 100% denominated in US dollars and sourced mainly from China to a general description of import dependence and the impact of exchange rate fluctuations on costs. - FY2023MaterialisedAnnual report
「However, because it took time to respond to the increase in cost of sales resulting from the record depreciation of the yen, higher resource prices, rising prices and other factors, and because the planned sale of tangible fixed assets was carried forward, revenue increased but profit declined.」
The increase in cost of sales resulting from the weaker yen, higher resource prices and rising prices was reflected in actual performance as operating profit, ordinary profit and net income declined despite higher revenue. - FY2023-Q3MaterialisedAnnual report
「However, because it took time to respond to the increase in cost of sales resulting from the record depreciation of the yen, higher resource prices, rising prices and other factors, both revenue and earnings showed an upward trend during the current quarter, but the period ended with improvement still under way.」
The increase in cost of sales resulting from the weaker yen, higher resource prices and rising prices was reflected in business performance by delaying earnings improvement. - FY2023-Q2MaterialisedAnnual report
「However, because it took time to respond to the surge in cost of sales resulting from the record depreciation of the yen, rising prices and other factors, revenue increased from the same quarter of the previous year, but profit ended the period still on the road to recovery.」
The surge in cost of sales resulting from the weaker yen and rising prices was reflected in business performance by hindering profit improvement despite higher revenue. - FY2023-Q1MaterialisedAnnual report
「However, higher cost of sales resulting from the weaker yen and rising prices put pressure on profit.」
The disclosure states that higher costs resulting from the weaker yen and rising prices put pressure on profit, with the impact of exchange rate fluctuations and other factors on purchase costs reflected in business performance. - FY2022WorsenedAnnual report
「Almost 100% of the tombstones and stone materials we sell are imported primarily from China in US dollars. Exchange-rate movements resulting from geopolitical risks such as the Ukraine shock, interest-rate hikes in major countries, and trade frictions may affect procurement costs.」
In addition to the existing geopolitical risks and trade friction, the Ukraine shock and interest rate hikes in major economies have been added as factors contributing to exchange rate volatility. - FY2021RestatedAnnual report
「Almost 100% of the tombstones we sell are purchased primarily from China in US dollars, and exchange-rate movements resulting from geopolitical risks and trade frictions may affect procurement costs.」
It reconfirms the risk that, in addition to US dollar-denominated purchases from China, exchange-rate movements resulting from geopolitical risks and trade frictions may affect procurement costs. - FY2018Geopolitical risks and trade frictions added as exchange-rate factorsAnnual report
「Almost 100% of the tombstones we sell are purchased primarily from China in US dollars. Exchange-rate movements resulting from geopolitical risks and trade frictions therefore affect procurement costs.」
In addition to the existing foreign-exchange risk from US dollar-denominated purchases from China, the company explicitly identifies geopolitical risks and trade frictions as factors driving exchange-rate movements. - FY2017RestatedAnnual report
「Almost 100% of the tombstones we sell are purchased primarily from China in US dollars. Exchange-rate movements therefore affect procurement costs.」
It reiterates the impact on procurement costs of exchange-rate movements associated with US dollar-denominated tombstone purchases from China. - FY2016First statedAnnual report
「Almost 100% of the tombstones we sell are purchased primarily from China in US dollars. Exchange-rate movements therefore affect procurement costs.」
It states that exchange-rate movements affect procurement costs in light of the currency and regional composition of tombstone purchases.