Revenue Decline in UK Business Due to Pound Depreciation
First written in FY2017-Q3. 2 of 3 entries say "Reframed", first in FY2018. Latest entry: FY2019.
The whole theme swung hardest in 2025: 71 of 159 companies on the "Worse" side.
- FY2019ReframedAnnual report
「The group’s overseas business is exposed to inherent risks including natural disasters, political upheaval, social and economic conditions, terrorism and war, exchange-rate fluctuations, intellectual property litigation, and infectious diseases in local markets.」
The weaker pound is no longer identified as a UK-specific event and is instead presented as part of a range of risks affecting the overseas business as a whole, including exchange-rate fluctuations. - FY2018ReframedAnnual report
「The overseas business recorded higher revenue due to the yen’s depreciation against major currencies such as the euro and pound, but profit declined because of changes to contract structures in the European production operations and challenging consumer trends for luxury brands, among other factors.」
The explanation changed from the specific risk of lower UK business revenue caused by the weaker pound to higher revenue due to the yen’s depreciation against major currencies and lower profit due to changes in European contract structures and sluggish luxury consumption. - FY2017-Q3First statedAnnual report
「Revenue declined at Joseph LTD. in the UK, partly because of the impact of sterling weakness.」
Sterling weakness was specifically identified as an actual cause of lower revenue in the UK business.