Policy of not engaging in derivatives transactions for speculative purposes
First written in FY2017. 2 of 3 entries say "Restated". Latest entry: FY2022.
87 other companies' latest entry also says "Restated".
- FY2022RestatedAnnual report
「The Group enters into foreign exchange forward transactions in accordance with its Rules for the Management of Derivative Transactions and has a policy of not entering into derivative transactions for speculative purposes.」
The Group continues its policy of using derivatives to hedge foreign exchange risk and not entering into derivative transactions for speculative purposes. - FY2018RestatedAnnual report
「In conducting its business, the Group enters into foreign exchange forward transactions to settle part of the purchase costs of imported products. It also enters into interest rate swaps, currency swaps and other transactions to avoid interest rate and foreign exchange risk, in accordance with its Rules for the Management of Derivative Transactions. The Group's policy is not to enter into derivative transactions for speculative purposes.」
The company continues its policy of limiting transactions to hedging foreign exchange and interest rate risk and not entering into them for speculative purposes. - FY2017First statedAnnual report
「In conducting its business, the Group enters into foreign exchange forward transactions to settle part of the purchase costs of imported products. It also enters into interest rate swaps, currency swaps and other transactions to avoid interest rate and foreign exchange risk, in accordance with its Rules for the Management of Derivative Transactions. The Group's policy is not to enter into derivative transactions for speculative purposes.」
The company explicitly states that transactions are limited to hedging foreign exchange and interest rate risk and that derivatives are not used for speculative purposes.