Exchange-Rate Fluctuations Amid a Widening Japan-US Interest Rate Differential
First written in FY2023-Q2. 5 of 8 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2020: 40 of 57 companies on the "Worse" side.
60 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「Japan's economy during the current consolidated fiscal year followed a moderate recovery trend as socioeconomic activity normalized. However, the outlook remains uncertain because of the continuing instability in international conditions, soaring raw material and energy prices, inflation and sharp exchange rate fluctuations.」
Uncertainty in the economic environment resulting from exchange rate fluctuations, soaring raw material and energy prices, and inflation continues. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new occurrences of major risks that management recognizes could materially affect the financial position, operating results or cash flows of the consolidated companies among the matters concerning business conditions and financial matters described in this interim report, nor any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
It concludes that there have been no material changes in economic-environment risks, including exchange rate fluctuations driven by a widening Japan-U.S. interest rate differential. - FY2024RestatedAnnual report
「Japan's economy during the current consolidated fiscal year followed a moderate recovery trend as socioeconomic activity normalized. However, the outlook remains uncertain because of the continuing instability in international conditions, soaring raw material and energy prices, inflation and sharp exchange rate fluctuations.」
Uncertainty in the economic environment resulting from exchange rate fluctuations, soaring raw material and energy prices, and inflation continues. - FY2024-Q2RestatedAnnual report
「During the second quarter of the current consolidated cumulative period, socioeconomic activity had been recovering gradually as restrictions on activity were eased, but uncertainty about the outlook continued amid unstable international conditions, a substantial depreciation of the yen and rising prices driven by soaring global resource prices.」
The disclosure continues to indicate a substantial depreciation of the yen, which, together with soaring resource prices and inflation, remains a source of uncertainty in the economic environment. - FY2024-Q1WorsenedAnnual report
「During the first quarter of the current consolidated cumulative period, socioeconomic activity had been recovering gradually as restrictions on activity were eased, but uncertainty about the outlook continued amid unstable conditions overseas, a rapid depreciation of the yen and rising prices driven by soaring global resource prices.」
The disclosure explicitly refers to the rapid depreciation of the yen, and uncertainty in the economic environment resulting from yen depreciation, soaring resource prices and inflation continues. - FY2023WorsenedAnnual report
「During the current consolidated fiscal year, Japan's economy was in an uncertain environment. Socioeconomic activity had been recovering gradually following the reclassification of COVID-19 to Category V under the Infectious Diseases Control Law, but energy and raw material prices were rising because of the Russia-Ukraine situation and the prolonged depreciation of the yen, leading to further price increases.」
The description has shifted from exchange rate fluctuations driven by the Japan-U.S. interest rate differential in the previous quarter to an explicit statement that the prolonged depreciation of the yen is driving soaring energy and raw material prices and inflation. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter of the current consolidated fiscal year, there were no material changes in the occurrence of major risks that management recognizes could materially affect the financial position, operating performance or cash flows of the consolidated companies, among the matters concerning the business and accounting conditions described in the quarterly report, or in the business and other risks described in the annual securities report for the previous fiscal year.」
It concludes that there have been no material changes in economic-environment risks, including exchange rate fluctuations driven by a widening Japan-U.S. interest rate differential. - FY2023-Q2First statedAnnual report
「The outlook remains uncertain because of exchange rate fluctuations driven by a widening Japan-U.S. interest rate differential and other factors.」
Exchange rate fluctuations driven by a widening Japan-U.S. interest rate differential are identified for the first time as an economic-environment uncertainty factor alongside accelerating inflation and the prolonged situation in Ukraine.