Safety-Focused Fund Management and Hedging of Interest Rate Fluctuation Risk
First written in FY2016. 3 of 4 entries say "Restated". Latest entry: FY2020.
The whole theme swung hardest in 2019: 2 of 23 companies on the "Worse" side.
23 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「The Group manages funds through highly secure products such as time deposits and raises funds through borrowings from banks and other financial institutions, as well as through the issuance of corporate bonds. Derivatives are used to avoid interest rate fluctuation risk on borrowings, and the Group’s policy is not to conduct speculative transactions.」
Reaffirms the policy of raising funds primarily through borrowings and corporate bonds and using derivatives for purposes other than speculation. - FY2019RestatedAnnual report
「The Group’s policy is to limit fund management to highly secure products such as time deposits and to conduct financing primarily through bank borrowings. Derivatives are used to avoid interest rate fluctuation risk on borrowings, and no speculative transactions are conducted.」
Reiterates the policy of managing funds through highly secure products, raising funds primarily through bank borrowings, and using derivatives only to avoid interest rate fluctuation risk. - FY2017RestatedAnnual report
「The Group’s policy is to limit fund management to highly secure products such as time deposits and to conduct financing primarily through bank borrowings. Derivatives are used to avoid interest rate fluctuation risk on borrowings, and no speculative transactions are conducted.」
Reiterates the policy of managing funds through highly secure products, raising funds primarily through bank borrowings, and using derivatives only to avoid interest rate fluctuation risk. - FY2016First statedAnnual report
「Funds are managed exclusively through highly secure products such as time deposits, while financing is conducted primarily through bank borrowings. Derivatives are used to avoid interest rate fluctuation risk on borrowings, and no speculative transactions are conducted.」
Financial risk management methods include receivables management, cash flow planning, interest rate swaps and transactions with highly rated financial institutions.