Takisada-Osaka Reports Extraordinary Losses of 22B Yen

Takisada-Osaka Co., Ltd. reported extraordinary losses of approximately 22 billion yen due to the cancellation of foreign exchange derivative contracts during the first half of fiscal 2016 (February-July 2016).
The company had been undertaking currency hedge by foreign exchange derivative contracts for appropriating to payments in foreign currencies, but the company decided to cancel the contracts because the sharp fluctuation of exchange rates since early fall of last year is expected to cause large derivative valuation losses.

Follow me!