Derivative Hedging Against Foreign Exchange and Interest Rate Fluctuations
First written in FY2017. 1 of 7 entries say "Restated". Latest entry: FY2025.
11 other companies' latest entry also says "Other".
- FY2025Increase in foreign exchange forwards and shortening of interest rate swap maturitiesAnnual report
「Long, US dollar, 9,164, —, 302. Interest rate swap transactions: fixed-rate payments and floating-rate receipts, long-term borrowings, 600,000, —.」
The notional amount of foreign exchange forwards increased from ¥3.133 million in the previous fiscal year to ¥9.164 million, while interest rate swaps remained at ¥600 million, with no contracts maturing in more than one year. - FY2023Renewed increase in foreign exchange forwards and decrease in interest rate swapsAnnual report
「Foreign exchange forward transactions: short, US dollar, forecast foreign-currency transactions, 171,921, —, 10,531; long, US dollar, 345,467, —, △1,988; total, 517,388, —, 8,543.」
The notional amount of foreign exchange forwards increased from ¥11.419 million in the previous fiscal year to ¥517.388 million, while the notional amount of interest rate swaps decreased from ¥1.2 billion to ¥700 million. - FY2022Sharp decrease in foreign exchange forwards and decrease in long-term interest rate swap notional amountAnnual report
「Foreign exchange forward transactions: long, US dollar, forecast foreign-currency transactions, 11,419, —, 803. Interest rate swap transactions: fixed-rate payments and floating-rate receipts, long-term borrowings, 1,200,000, 500,000, —.」
The notional amount of foreign exchange forwards decreased from ¥252.896 million in the previous fiscal year to ¥11.419 million. The notional amount of interest rate swaps was ¥1.2 billion, of which ¥500 million had maturities exceeding one year. - FY2020Decrease in foreign exchange forwards and extension of interest rate swap maturitiesAnnual report
「Foreign exchange forward transactions: long, US dollar, accounts payable, 608,439, —, 10,312; total, 608,439, —, 10,312. Interest rate swap transactions: fixed-rate payments and floating-rate receipts, long-term borrowings, 1,100,000, 1,100,000, —.」
The notional amount of foreign exchange forwards decreased from ¥906.3 million in the previous fiscal year to ¥608.439 million, while the notional amount of interest rate swaps was ¥1.1 billion, all with maturities exceeding one year. - FY2019Increase in Hedged Contract AmountAnnual report
「Certain consolidated subsidiaries generally use foreign exchange forward contracts to hedge the foreign exchange fluctuation risk identified by currency and month for foreign-currency-denominated trade receivables and payables. Depending on foreign exchange market conditions, they also enter into foreign exchange forward contracts, with maturities of up to six months, for foreign-currency-denominated trade payables expected to arise from forecast import transactions. The company uses interest rate swaps to reduce the risk of fluctuations in interest payments on borrowings.」
The notional amount of foreign exchange forwards changed from ¥352.007 million in the previous fiscal year to ¥906.3 million, while the notional amount of interest rate swaps changed from ¥600 million to ¥1.1 billion. The company maintained its previous policy regarding hedging instruments and hedged items. - FY2018RestatedAnnual report
「Certain consolidated subsidiaries generally use foreign exchange forward contracts to hedge the foreign exchange fluctuation risk identified by currency and month for foreign-currency-denominated trade receivables and payables. Depending on foreign exchange market conditions, they also enter into foreign exchange forward contracts, with maturities of up to six months, for foreign-currency-denominated trade payables expected to arise from forecast import transactions. The company uses interest rate swaps to reduce the risk of fluctuations in interest payments on borrowings.」
The company continues to apply its hedging policy using foreign exchange forwards and interest rate swaps. - FY2017First statedAnnual report
「The company generally uses foreign exchange forward contracts to hedge the foreign exchange fluctuation risk identified by currency and month for foreign-currency-denominated trade receivables and payables. Depending on foreign exchange market conditions, the company also enters into foreign exchange forward contracts, with maturities of up to six months, for foreign-currency-denominated trade payables expected to arise from forecast import transactions. The company and certain consolidated subsidiaries also use interest rate swaps to reduce the risk of fluctuations in interest payments on borrowings.」
The company uses foreign exchange forwards and interest rate swaps for hedging the foreign exchange risk associated with import transactions and the risk of fluctuations in borrowing interest rates, rather than for speculative purposes.