Policy of prioritizing safety in surplus-fund management and refraining from derivatives transactions
First written in FY2016. 5 of 11 entries say "Restated". Latest entry: FY2026.
5 other companies' latest entry also says "Other".
- FY2026Decrease in fuel hedge contract amounts and move to a positive fair valueAnnual report
「Deferred hedge accounting; oil average swap; fuel purchase transactions; 544,320; 302,400; 101,072」
The contract amount of the oil average swap for fuel purchase transactions decreased from ¥725.760 million at the end of the previous fiscal year to ¥544.320 million, while its fair value changed from negative ¥79.948 million to positive ¥101.072 million. - FY2025Specification of fuel hedge contract amountsAnnual report
「Derivatives transactions consist of forward foreign exchange contracts intended to hedge foreign exchange risk and crude oil swaps intended to hedge the risk of fluctuations caused by future increases in fuel oil prices and secure stable profits, and the Company has a policy of not engaging in speculative transactions.」
The Company maintained its policy of using forward foreign exchange contracts and crude oil swaps to hedge fuel oil prices and not engaging in speculative transactions. At the end of the fiscal year, it recorded an oil average swap of ¥725.760 million for fuel purchase transactions. - FY2024Addition of forward foreign exchange contracts as a hedging instrumentAnnual report
「Derivatives transactions consist of forward foreign exchange contracts intended to hedge foreign exchange risk and crude oil swaps intended to hedge the risk of fluctuations caused by future increases in fuel oil prices and secure stable profits, and the Company has a policy of not engaging in speculative transactions.」
In addition to the existing fuel oil price hedging, the Company explicitly stated its policy of using forward foreign exchange contracts to hedge foreign exchange risk. During the fiscal year, it recorded forward foreign exchange contracts for forecast foreign-currency-denominated transactions of ¥153.326 million. - FY2023RestatedAnnual report
「Our Group invests surplus funds in highly secure financial assets, such as relatively short-term deposits and previously issued government bonds, and procures necessary funds through bank borrowings. Derivatives transactions consist of crude oil swaps intended to hedge the risk of fluctuations caused by future increases in fuel oil prices and secure stable profits, and the Company has a policy of not engaging in speculative transactions.」
The Company reconfirmed its policy of investing funds in highly secure assets, raising funds through bank borrowings, and using derivatives only to hedge fuel oil prices, not for speculative transactions. - FY2020RestatedAnnual report
「Our Group invests surplus funds in highly secure financial assets, such as relatively short-term deposits and previously issued government bonds, and procures necessary funds through bank borrowings. Derivatives transactions consist of crude oil swaps intended to hedge the risk of fluctuations caused by future increases in fuel oil prices and secure stable profits, and the Company has a policy of not engaging in speculative transactions.」
The Company reconfirmed its policy of investing funds in highly secure assets, raising funds through bank borrowings, and using derivatives only to hedge fuel oil prices, not for speculative transactions. - FY2020-Q2RestatedAnnual report
「The contract amounts and other details of derivative transactions at the end of the quarterly consolidated accounting period did not change significantly from the end of the previous consolidated fiscal year.」
The Company stated that the contract amount, etc. of derivatives transactions used for fuel cost hedging and other purposes had not changed materially from the end of the previous fiscal year. - FY2019AdvancedAnnual report
「Hedging instrument: oil average swap; hedged item: fuel costs; contract amount, etc.: ¥523.800 million; portion of contract amount, etc. due after more than 1 year: ¥349.200 million; fair value: negative ¥60.724 million」
The Company is actually using oil average swaps to address fluctuations in fuel oil prices and has recorded a contract amount of ¥523.800 million. The Company has moved from stating a general policy to the implementation of specific hedging transactions. - FY2018ReframedAnnual report
「Derivatives transactions consist of crude oil swaps intended to hedge the risk of fluctuations caused by future increases in fuel oil prices and secure stable profits, and the Company has a policy of not engaging in speculative transactions.」
The wording changed from the previous statement that the Company did not use derivatives transactions at all to a policy under which crude oil swaps to hedge the risk of rising fuel oil prices are included, while speculative transactions are not conducted. - FY2018-Q2RestatedAnnual report
「Our Group, comprising the Company and its consolidated subsidiaries, does not use derivatives transactions at all, and therefore there are no applicable items.」
The policy of not using derivatives transactions was reconfirmed in the notes to the financial statements. - FY2017RestatedAnnual report
「Our Group invests surplus funds in highly secure financial assets, such as relatively short-term deposits and previously issued government bonds, and procures necessary funds through bank borrowings. We have a policy of not engaging in high-risk transactions, including derivatives transactions.」
The Company restated its policy of investing funds in highly secure assets, raising funds through bank borrowings, and not engaging in derivatives transactions. - FY2016First statedAnnual report
「Our Group invests surplus funds in highly secure financial assets, such as relatively short-term deposits and previously issued government bonds, and procures necessary funds through bank borrowings. We have a policy of not engaging in high-risk transactions, including derivatives transactions.」
The Company prioritizes the safety of surplus funds, relies primarily on bank borrowings for funding, and has a policy of not engaging in high-risk transactions such as derivatives.