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The
Company
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Callaway Golf Company, a US-based corporation, designs, manufactures and
markets high quality, innovative golf clubs and products.
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The company generates approximately 35% of its revenues from international
sales.
Business Situation
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Callaway has a ¥1,250,000,000 receivable due from its Japanese distributor
on September 15, 1999. The company wishes to limit its exposure to
significant adverse changes in the yen-dollar exchange rate through the
use of a derivatives-based risk management strategy.
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