Emphasis on Safety and Liquidity and Non-Speculative Use of Derivatives
First written in FY2016. 3 of 4 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2021: 1 of 7 companies on the "Worse" side.
20 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「The Group invests temporary surplus funds in financial instruments with a high degree of safety or liquidity. Financing is conducted through bank borrowings or the issuance of bonds, depending on funding needs. Derivatives are limited to use in avoiding risks such as interest-rate fluctuations on borrowings, use of embedded derivatives in other securities, such as currency-linked bonds, to generate investment returns, and use to hedge market-price fluctuation risks relating to securities such as shares held by the Group. The Group does not engage in derivative transactions for speculative purposes.」
The policy of emphasizing safety, liquidity and hedging in surplus-fund investment, financing and derivative use, while not using derivatives for speculative purposes, is reiterated. - FY2021RestatedAnnual report
「The Group invests temporary surplus funds in financial instruments with a high degree of safety or liquidity. Financing is conducted through bank borrowings or the issuance of bonds, depending on funding needs. Derivatives are limited to use in avoiding risks such as interest-rate fluctuations on borrowings, use of embedded derivatives in other securities, such as currency-linked bonds, to generate investment returns, and use to hedge market-price fluctuation risks relating to securities such as shares held by the Group. The Group does not engage in derivative transactions for speculative purposes.」
The policy on surplus-fund investment, financing and the non-speculative use of derivatives is reiterated. - FY2017RestatedAnnual report
「The Group invests temporary surplus funds in financial instruments with a high degree of safety or liquidity. Financing is conducted through bank borrowings or the issuance of bonds, depending on funding needs. Derivatives are limited to use in avoiding risks such as interest-rate fluctuations on borrowings, use of embedded derivatives in other securities, such as currency-linked bonds, to generate investment returns, and use to hedge market-price fluctuation risks relating to securities such as shares held by the Group. The Group does not engage in derivative transactions for speculative purposes.」
The policy emphasizing safety, liquidity and hedging in surplus-fund investment, financing and derivative use is reiterated. - FY2016First statedAnnual report
「Temporary surplus funds are invested in financial instruments with a high degree of safety or liquidity. Financing is conducted through bank borrowings or the issuance of bonds, depending on funding needs. Derivatives are limited to use in avoiding risks such as interest-rate fluctuations on borrowings, use of embedded derivatives in other securities, such as currency-linked bonds, to generate investment returns, and use to hedge market-price fluctuation risks relating to securities such as shares held by the Company. The Company does not engage in derivative transactions for speculative purposes.」
The policy for surplus-fund investment, financing and derivative use emphasizes safety, liquidity and hedging.