Policy of Limiting Derivative Transactions to Hedging Purposes
First written in FY2016. 3 of 4 entries say "Restated". Latest entry: 2026-06-05.
88 other companies' latest entry also says "Restated".
- 2026-06-05RestatedGeneral Meetings of Shareholders
「These instruments are used to avoid the risks associated with fluctuations in market prices for commodities, namely aviation fuel, and foreign-exchange rates; no speculative transactions are conducted.」
The company continues to limit derivatives relating to fuel and foreign exchange to hedging purposes. - FY2021RestatedAnnual report
「We established the Market Risk Management Regulations and adopted a policy of using derivatives transactions solely to hedge against the risk of market price fluctuations, and not for speculative purposes.」
The policy of limiting derivatives to fuel and foreign exchange hedging purposes and not using them for speculation remains in place. - FY2017RestatedAnnual report
「In December 2009, the Company established its Market Risk Management Regulations, which stipulate that derivative transactions are to be used solely for hedging risks arising from market price fluctuations and not for speculative purposes.」
The policy of limiting foreign exchange and fuel-related derivatives to hedging purposes and not using them for speculative purposes remains in place. - FY2016First statedAnnual report
「In December 2009, the Company established its Market Risk Management Regulations, which stipulate that derivative transactions are to be used solely for hedging risks arising from market price fluctuations and not for speculative purposes.」
This is the first reference to a management policy limiting foreign exchange and fuel-related derivatives to hedging purposes.