Case

1 -h[arhttl 11Y11 nh{tt1(o + +. I 4^ HKU618 Asia Case Research Centre THEUNIVERSITY HONGKONG OF pmN Poon Kam Kal S€rlas MISAWA MITSURU OSGCORPORATION: icon TRANSACTION HEDGING the low the Op Monday,April 24n20Q6, US dollar drop to a new three-month against yen of J-+l14.304Lnflotyor forefunexchange 2006.This mart,the lowestratesinceJanuary16th waiTleflection of tradingin New York threedaysearlier,on Friday,wherethe dollar had the of against yen. The disparagement the dollar against yen was a the fallenmbre than 1.75o/o D.C. on April 21 2006.In that meeting, resultof a meetingof the Q7 in Washington direct over the loath speedof Chinas currencyreforms sincethe G7 leadersvoiced dissatisfaction renminbis revaluationin July 2005. They called for greatercurrencyflexibility, particulariy that a strongerrenminbi would boost other Asian currencies, in China, sparkingspeculation including the yen. At the sametime, the G7 called for more dialoguebetweenoil-producing in with more and oil-consumingcountries,and further avail oil markettransparency and for clearreporting and completeand timely dataon production,consumption inventories, of oil reserves,while reaffirming the need to bring forward greater energy efficiency.

The yet recordhigh in New York at US$75.35 had reached another crude-oilcontract benchmark a barrel on April zft 2006. With prices forecastto top US$80 in the near future, higher(prenominal) rate volatilityin the yen-dollarexchange wasexpected Exhibit l]. [see On that same Monday, Teruhide Osawa,presidentof OSG Corporation(OSG), was looked at hts market from his offiqe in Toyokawa,Japan--He following the foreign exchange the 7S%o;against to computerscreenand was genuinely surprised seethat the yen dollar in one day. It do him wonder aboutthe effect such a volatile exchanldiite would Although declare on S. f \! proHemiOsawa felt th-at should he had _ -t\tqtt.t melodic line been@iturgenT for continued have global opportunities to... If you want to get a full essay, order it on our website: Ordercustompaper.com

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