Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Oct. 31, 2018 | Dec. 31, 2018 | Apr. 30, 2018 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Oct. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | FXY | ||
Entity Registrant Name | Invesco CurrencyShares Japanese Yen Trust | ||
Entity Central Index Key | 1,353,613 | ||
Current Fiscal Year End Date | --10-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Common Stock, Shares Outstanding | 2,000,000 | ||
Entity Public Float | $ 166,516,000 |
Statements of Financial Conditi
Statements of Financial Condition - USD ($) | Oct. 31, 2018 | Oct. 31, 2017 |
Current Assets: | ||
Japanese Yen deposits, interest bearing | $ 127,074,693 | $ 114,156,875 |
Japanese Yen deposits, non-interest bearing | 0 | 0 |
Total Current Assets | 127,074,693 | 114,156,875 |
Current Liabilities: | ||
Redemptions payable | 4,226,335 | |
Accrued Sponsor's fee | 43,161 | 37,756 |
Accrued interest expense on currency deposits | 10,943 | 9,596 |
Total Current Liabilities | 54,104 | 4,273,687 |
Commitments and Contingent Liabilities (note 9) | ||
Redeemable Capital Shares, at redemption value, no par value, 69,000,000 and 64,000,000 authorized, respectively - 1,500,000 and 1,300,000 issued and outstanding, respectively | 127,020,589 | 109,883,188 |
Shareholders' Equity: | ||
Retained Earnings | 0 | 0 |
Total Liabilities, Redeemable Capital Shares and Shareholders' Equity | $ 127,074,693 | $ 114,156,875 |
Statements of Financial Condi_2
Statements of Financial Condition (Parenthetical) - $ / shares | Oct. 31, 2018 | Oct. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Redeemable Capital Shares, no par value | $ 0 | $ 0 |
Redeemable Capital Shares, shares authorized | 69,000,000 | 64,000,000 |
Redeemable Capital Shares, shares issued | 1,500,000 | 1,300,000 |
Redeemable Capital Shares, shares outstanding | 1,500,000 | 1,300,000 |
Statements of Comprehensive Inc
Statements of Comprehensive Income - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2016 | |||||||||
Income | |||||||||||||||||||
Interest Income | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||||||||
Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Expenses | |||||||||||||||||||
Sponsor's fee | (128,595) | (163,322) | (157,888) | (112,269) | (115,734) | (121,337) | (114,140) | (121,137) | (562,074) | (472,348) | (749,584) | ||||||||
Interest Expense on currency deposits | (32,555) | (41,492) | (39,991) | (28,321) | (29,342) | (30,822) | (29,631) | (30,049) | (142,359) | (119,844) | (76,904) | ||||||||
Total Expenses | (161,150) | (204,814) | (197,879) | (140,590) | (145,076) | (152,159) | (143,771) | (151,186) | (704,433) | (592,192) | (826,488) | ||||||||
Net Comprehensive Loss | $ (161,150) | $ (204,814) | $ (197,879) | $ (140,590) | $ (145,076) | $ (152,159) | $ (143,771) | $ (151,186) | $ (704,433) | $ (592,192) | $ (826,488) | ||||||||
Basic and Diluted Earnings per Share | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.44) | $ (0.43) | $ (0.38) |
Weighted-average Shares Outstanding | 1,494,565 | 1,860,870 | 1,810,674 | 1,307,609 | 1,328,261 | 1,398,370 | 1,344,382 | 1,428,261 | 1,616,849 | 1,375,068 | 2,166,393 | ||||||||
[1] | The amount shown for a Share outstanding for quarterly statements may not correlate with year to date amounts due to timing of subscriptions and redemptions in relation to income earned or distributed. |
Statements of Changes in Shareh
Statements of Changes in Shareholders' Equity - USD ($) | Total | Retained Earnings [Member] |
Beginning of Year at Oct. 31, 2015 | $ 0 | |
Net Comprehensive Loss | $ (826,488) | (826,488) |
Adjustment of redeemable capital Shares to redemption value | 826,488 | |
End of Year at Oct. 31, 2016 | 0 | |
Net Comprehensive Loss | (592,192) | (592,192) |
Adjustment of redeemable capital Shares to redemption value | 592,192 | |
End of Year at Oct. 31, 2017 | 0 | |
Net Comprehensive Loss | $ (704,433) | (704,433) |
Adjustment of redeemable capital Shares to redemption value | 704,433 | |
End of Year at Oct. 31, 2018 | $ 0 |
Statements of Cash Flows
Statements of Cash Flows | 12 Months Ended | ||
Oct. 31, 2018USD ($) | Oct. 31, 2017USD ($) | Oct. 31, 2016USD ($) | |
Cash flows from operating activities | |||
Cash received for accrued income | $ 0 | $ 0 | $ 0 |
Cash paid for expenses | (696,256) | (591,577) | (832,636) |
Net cash used in operating activities | (696,256) | (591,577) | (832,636) |
Cash flows from financing activities | |||
Cash received to purchase redeemable Shares | 112,839,783 | 283,768,433 | 443,142,449 |
Cash paid to redeem redeemable Shares | (99,745,024) | (270,838,173) | (477,929,067) |
Net cash provided by/(used in) financing activities | 13,094,759 | 12,930,260 | (34,786,618) |
Adjustment to period cash flows due to currency movement | 519,315 | (8,462,494) | 17,286,580 |
Increase/(Decrease) in cash | 12,917,818 | 3,876,189 | (18,332,674) |
Cash at beginning of year | 114,156,875 | 110,280,686 | 128,613,360 |
Cash at end of year | 127,074,693 | 114,156,875 | 110,280,686 |
Reconciliation of net comprehensive loss to net cash used in operating activities | |||
Net Comprehensive Loss | (704,433) | (592,192) | (826,488) |
Adjustments to reconcile net comprehensive loss to net cash used in operating activities: | |||
Effect of exchange rate on cash | 1,425 | 3,756 | (11,238) |
Accrued Sponsor's fee | 43,161 | 37,756 | 40,116 |
Accrued interest expense on currency deposits | 10,943 | 9,596 | 10,377 |
Prior period accrued Sponsor's fee | (37,756) | (40,116) | (45,403) |
Prior period accrued interest expense on currency deposits | (9,596) | (10,377) | |
Net cash used in operating activities | $ (696,256) | $ (591,577) | $ (832,636) |
Background
Background | 12 Months Ended |
Oct. 31, 2018 | |
Accounting Policies [Abstract] | |
Background | 1. Background On September 28, 2017, Guggenheim Capital, LLC (“Guggenheim”) and Invesco Ltd. entered into a Transaction Agreement (the “Transaction Agreement”), pursuant to which Guggenheim agreed to transfer all of the membership interests of Guggenheim Specialized Products, LLC (the “Sponsor”) to Invesco Capital Management LLC (“Invesco Capital Management”). The Transaction Agreement was consummated on April 6, 2018 (the “Closing”) and immediately following the Closing, Invesco Capital Management changed the name of the Sponsor to Invesco Specialized Products, LLC. |
Organization and Description of
Organization and Description of the Trust | 12 Months Ended |
Oct. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of the Trust | 2. Organization and Description of the Trust The Invesco CurrencyShares ® day-to-day The investment objective of the Trust is for the Trust’s shares (the “Shares”) to reflect the price in U.S. Dollars (“USD”) of the Japanese Yen plus accrued interest, if any, less the Trust’s expenses and liabilities. The Shares are intended to provide investors with a simple, cost-effective means of gaining investment benefits similar to those of holding Japanese Yen. The Trust’s assets primarily consist of Japanese Yen on demand deposit in two deposit accounts maintained by the Depository: a primary deposit account which may earn interest and a secondary deposit account which does not earn interest. The secondary deposit account is used to account for any interest that may be received and paid out on creations and redemptions of blocks of 50,000 Shares (“Baskets”). The secondary account is also used to account for interest earned, if any, on the primary deposit account, pay Trust expenses and distribute any excess interest to holders of Shares (“Shareholders”) on a monthly basis. The accompanying audited financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Oct. 31, 2018 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | 3. Significant Accounting Policies A. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of the assets, liabilities and disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period and the evaluation of subsequent events through the issuance date of the financial statements. Actual results could differ from those estimates. B. Foreign Currency Translation For Net Asset Value (“NAV”) calculation purposes, Japanese Yen deposits (cash) are translated at the Closing Spot Rate, which is the Japanese Yen/USD exchange rate as determined and published by The WM Company at 4:00 PM (London time/London fixing) on each day that NYSE Arca, Inc. (“NYSE Arca”) is open for regular trading. The Trust maintains its books and records in Japanese Yen. For financial statement reporting purposes, the U.S. Dollar is the reporting currency. As a result, the financial records of the Trust are translated from Japanese Yen to USD. The Closing Spot Rate on the last day of the period is used for translation in the statements of financial condition. The average Closing Spot Rate for the period is used for translation in the statements of comprehensive income and the statements of cash flows. The redeemable capital Shares are adjusted to redemption value and these adjustments are recorded against retained earnings. C. Federal Income Taxes The Trust is treated as a “grantor trust” for federal income tax purposes and, therefore, no provision for federal income taxes is required. Interest, gains and losses are passed through to the Shareholders. Shareholders generally will be treated, for U.S. federal income tax purposes, as if they directly owned a pro-rata pro-rata pro-rata The Sponsor’s fee accrues daily and is payable monthly. For U.S. federal income tax purposes, an accrual-basis U.S. Shareholder generally will be required to take into account as an expense its allocable portion of the USD-equivalent USD-equivalent The Trust does not expect to generate taxable income except for interest income (if any) and gain (if any) upon the sale of Japanese Yen. A non-U.S. non-U.S. non-U.S. A non-U.S. non-U.S. non-U.S. D. Revenue Recognition Interest on the primary deposit account, if any, accrues daily as earned and is received or paid on a monthly basis. Any interest below zero for the period is reflected as interest expense on currency deposits. The Depository may change the rate at which interest accrues, including reducing the interest rate to zero or below zero, based upon changes in market conditions or based on the Depository’s liquidity needs. Interest charged on the primary deposit account will be disclosed as interest expense on currency deposits. E. Dividends To the extent that the interest earned by the Trust, if any, exceeds the sum of the Sponsor’s fee for the prior month plus other Trust expenses, if any, the Trust will distribute, as a dividend (herein referred to as dividends or distributions), the excess interest earned in Japanese Yen effective on the first business day of the subsequent month. The Trustee will direct that the excess Japanese Yen be converted into USD at the prevailing market rate and the Trustee will distribute the USD as promptly as practicable to Shareholders on a pro-rata |
Japanese Yen Deposits
Japanese Yen Deposits | 12 Months Ended |
Oct. 31, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Japanese Yen Deposits | 4. Japanese Yen Deposits Japanese Yen principal deposits are held in a Japanese Yen-denominated, -0.10%. Net interest, if any, associated with creation and redemption activity is held in a Japanese Yen-denominated non-interest-bearing |
Redeemable Capital Shares
Redeemable Capital Shares | 12 Months Ended |
Oct. 31, 2018 | |
Federal Home Loan Banks [Abstract] | |
Redeemable Capital Shares | 5. Redeemable Capital Shares Shares are classified as “redeemable” for financial statement purposes, since they are subject to redemption. Shares are issued and redeemed continuously in Baskets in exchange for Japanese Yen. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. Only Authorized Participants (as defined below) may place orders to create and redeem Baskets. An Authorized Participant is a Depository Trust Company (“DTC”) participant that is a registered broker-dealer or other institution eligible to settle securities transactions through the book-entry facilities of the DTC and which has entered into a contractual arrangement with the Trust and the Sponsor governing, among other matters, the creation and redemption process. Authorized Participants may redeem their Shares at any time in Baskets. Due to expected continuing creations and redemptions of Baskets and the two-day Activity in redeemable capital Shares is as follows: Year Ended October 31, 2018 Year Ended October 31, 2017 Year Ended October 31, 2016 Shares U.S. Dollar Amount Shares U.S. Dollar Amount Shares U.S. Dollar Amount Opening Balance 1,300,000 $ 109,883,188 1,200,000 $ 110,230,193 1,600,000 $ 128,567,957 Shares issued 1,300,000 112,839,783 3,300,000 283,768,433 5,050,000 443,142,449 Shares redeemed (1,100,000 ) (95,396,862 ) (3,200,000 ) (275,123,327 ) (5,450,000 ) (477,929,067 ) Adjustment to period Shares due to currency movement — (305,520 ) — (8,992,111 ) — 16,448,854 Ending Balance 1,500,000 $ 127,020,589 1,300,000 $ 109,883,188 1,200,000 $ 110,230,193 The Trustee calculates the Trust’s NAV each business day. To calculate the NAV, the Trustee subtracts the Sponsor’s accrued fee through the previous day from the Japanese Yen held by the Trust (including all unpaid interest, if any, accrued through the preceding day) and calculates the value of the Japanese Yen in USD based upon the Closing Spot Rate. If, on a particular evaluation day, the Closing Spot Rate has not been determined and announced by 6:00 PM (London time), then the most recent Closing Spot Rate will be used to determine the NAV of the Trust unless the Trustee, in consultation with the Sponsor, determines that such price is inappropriate to use as the basis for the valuation. If the Trustee and the Sponsor determine that the most recent Closing Spot Rate is not an appropriate basis for valuation of the Trust’s Japanese Yen, they will determine an alternative basis for the valuation. The Trustee also determines the NAV per Share, which equals the NAV of the Trust, divided by the number of outstanding Shares. Shares deliverable under a purchase order are considered outstanding for purposes of determining NAV per Share; Shares deliverable under a redemption order are not considered outstanding for this purpose. |
Selected Quarterly Information
Selected Quarterly Information (Unaudited) | 12 Months Ended |
Oct. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Quarterly Information (Unaudited) | 6. Selected Quarterly Information (Unaudited) Fiscal Period Ended October 31, 2018: Three months Three months Three months Three months Income Interest Income $ — $ — $ — $ — Total Income — — — — Expenses Sponsor’s fee (128,595 ) (163,322 ) (157,888 ) (112,269 ) Interest expense on currency deposits (32,555 ) (41,492 ) (39,991 ) (28,321 ) Total Expenses (161,150 ) (204,814 ) (197,879 ) (140,590 ) Net Comprehensive Loss $ (161,150 ) $ (204,814 ) $ (197,879 ) $ (140,590 ) Basic and Diluted Earnings per Share (1) $ (0.11 ) $ (0.11 ) $ (0.11 ) $ (0.11 ) Weighted-average Shares Outstanding 1,494,565 1,860,870 1,810,674 1,307,609 Cash Dividends per Share (1) $ — $ — $ — $ — (1) The amount shown for a Share outstanding for quarterly statements may not correlate with year to date amounts due to timing of subscriptions and redemptions in relation to income earned or distributed. Fiscal Period Ended October 31, 2017: Three months Three months Three months Three months Income Interest Income $ — $ — $ — $ — Total Income — — — — Expenses Sponsor’s fee (115,734 ) (121,337 ) (114,140 ) (121,137 ) Interest expense on currency deposits (29,342 ) (30,822 ) (29,631 ) (30,049 ) Total Expenses (145,076 ) (152,159 ) (143,771 ) (151,186 ) Net Comprehensive Loss $ (145,076 ) $ (152,159 ) $ (143,771 ) $ (151,186 ) Basic and Diluted Earnings per Share (1) $ (0.11 ) $ (0.11 ) $ (0.11 ) $ (0.11 ) Weighted-average Shares Outstanding 1,328,261 1,398,370 1,344,382 1,428,261 Cash Dividends per Share (1) $ — $ — $ — $ — (1) The amount shown for a Share outstanding for quarterly statements may not correlate with year to date amounts due to timing of subscriptions and redemptions in relation to income earned or distributed. |
Related Parties
Related Parties | 12 Months Ended |
Oct. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Parties | 7. Related Parties The Sponsor is a related party of the Trust. The Sponsor’s fee accrues daily at an annual nominal rate of 0.40% of the Japanese Yen in the Trust (including all unpaid interest but excluding unpaid fees, each as accrued through the immediately preceding day) and is paid monthly. The Sponsor assumes and pays the following administrative and marketing expenses incurred by the Trust: the Trustee’s monthly fee, NYSE Arca listing fees, SEC registration fees, typical maintenance and transaction fees of the Depository, printing and mailing costs, audit fees and expenses, up to $100,000 per year in legal fees and expenses, and applicable license fees. In certain exceptional cases the Trust will pay for some expenses in addition to the Sponsor’s fee. These exceptions include expenses not assumed by the Sponsor (i.e., expenses other than those identified in the preceding paragraph), expenses resulting from a negative interest rate, taxes and governmental charges, expenses and costs of any extraordinary services performed by the Trustee or the Sponsor on behalf of the Trust or action taken by the Trustee or the Sponsor to protect the Trust or the interests of Shareholders, indemnification of the Sponsor under the Depositary Trust Agreement, audit fees and legal expenses in excess of $100,000 per year. |
Concentration Risk
Concentration Risk | 12 Months Ended |
Oct. 31, 2018 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk | 8. Concentration Risk All of the Trust’s assets are Japanese Yen, which creates a concentration risk associated with fluctuations in the price of the Japanese Yen. Accordingly, a decline in the Japanese Yen to USD exchange rate will have an adverse effect on the value of the Shares. Factors that may have the effect of causing a decline in the price of the Japanese Yen include national debt levels and trade deficits, domestic and foreign inflation rates, domestic and foreign interest rates, investment and trading activities of institutions and global or regional political, economic or financial events and situations. Substantial sales of Japanese Yen by the official sector (central banks, other governmental agencies and related institutions that buy, sell and hold Japanese Yen as part of their reserve assets) could adversely affect an investment in the Shares. All of the Trust’s Japanese Yen are held by the Depository. Accordingly, a risk associated with the concentration of the Trust’s assets in accounts held by a single financial institution exists and increases the potential for loss by the Trust and the Trust’s beneficiaries in the event that the Depository becomes insolvent. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Oct. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 9. Commitments and Contingencies The Trust’s organizational documents provides for the Trust to indemnify the Sponsor and any affiliate of the Sponsor that provides services to the Trust to the maximum extent permitted by applicable law, subject to certain exceptions for disqualifying conduct by the Sponsor or such an affiliate. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred. Further, the Trust has not had prior claims or losses pursuant to these contracts. Accordingly, the Sponsor expects the risk of loss to be remote. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Oct. 31, 2018 | |
Accounting Policies [Abstract] | |
Use of Estimates | A. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of the assets, liabilities and disclosures of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period and the evaluation of subsequent events through the issuance date of the financial statements. Actual results could differ from those estimates. |
Foreign Currency Translation | B. Foreign Currency Translation For Net Asset Value (“NAV”) calculation purposes, Japanese Yen deposits (cash) are translated at the Closing Spot Rate, which is the Japanese Yen/USD exchange rate as determined and published by The WM Company at 4:00 PM (London time/London fixing) on each day that NYSE Arca, Inc. (“NYSE Arca”) is open for regular trading. The Trust maintains its books and records in Japanese Yen. For financial statement reporting purposes, the U.S. Dollar is the reporting currency. As a result, the financial records of the Trust are translated from Japanese Yen to USD. The Closing Spot Rate on the last day of the period is used for translation in the statements of financial condition. The average Closing Spot Rate for the period is used for translation in the statements of comprehensive income and the statements of cash flows. The redeemable capital Shares are adjusted to redemption value and these adjustments are recorded against retained earnings. |
Federal Income Taxes | C. Federal Income Taxes The Trust is treated as a “grantor trust” for federal income tax purposes and, therefore, no provision for federal income taxes is required. Interest, gains and losses are passed through to the Shareholders. Shareholders generally will be treated, for U.S. federal income tax purposes, as if they directly owned a pro-rata pro-rata pro-rata The Sponsor’s fee accrues daily and is payable monthly. For U.S. federal income tax purposes, an accrual-basis U.S. Shareholder generally will be required to take into account as an expense its allocable portion of the USD-equivalent USD-equivalent The Trust does not expect to generate taxable income except for interest income (if any) and gain (if any) upon the sale of Japanese Yen. A non-U.S. non-U.S. non-U.S. A non-U.S. non-U.S. non-U.S. |
Revenue Recognition | D. Revenue Recognition Interest on the primary deposit account, if any, accrues daily as earned and is received or paid on a monthly basis. Any interest below zero for the period is reflected as interest expense on currency deposits. The Depository may change the rate at which interest accrues, including reducing the interest rate to zero or below zero, based upon changes in market conditions or based on the Depository’s liquidity needs. Interest charged on the primary deposit account will be disclosed as interest expense on currency deposits. |
Dividends | E. Dividends To the extent that the interest earned by the Trust, if any, exceeds the sum of the Sponsor’s fee for the prior month plus other Trust expenses, if any, the Trust will distribute, as a dividend (herein referred to as dividends or distributions), the excess interest earned in Japanese Yen effective on the first business day of the subsequent month. The Trustee will direct that the excess Japanese Yen be converted into USD at the prevailing market rate and the Trustee will distribute the USD as promptly as practicable to Shareholders on a pro-rata |
Redeemable Capital Shares (Tabl
Redeemable Capital Shares (Tables) | 12 Months Ended |
Oct. 31, 2018 | |
Federal Home Loan Banks [Abstract] | |
Schedule for Redeemable Capital Shares Activity | Activity in redeemable capital Shares is as follows: Year Ended October 31, 2018 Year Ended October 31, 2017 Year Ended October 31, 2016 Shares U.S. Dollar Amount Shares U.S. Dollar Amount Shares U.S. Dollar Amount Opening Balance 1,300,000 $ 109,883,188 1,200,000 $ 110,230,193 1,600,000 $ 128,567,957 Shares issued 1,300,000 112,839,783 3,300,000 283,768,433 5,050,000 443,142,449 Shares redeemed (1,100,000 ) (95,396,862 ) (3,200,000 ) (275,123,327 ) (5,450,000 ) (477,929,067 ) Adjustment to period Shares due to currency movement — (305,520 ) — (8,992,111 ) — 16,448,854 Ending Balance 1,500,000 $ 127,020,589 1,300,000 $ 109,883,188 1,200,000 $ 110,230,193 |
Selected Quarterly Informatio_2
Selected Quarterly Information (Unaudited) (Tables) | 12 Months Ended |
Oct. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summary of Selected Quarterly Information (Unaudited) | Fiscal Period Ended October 31, 2018: Three months Three months Three months Three months Income Interest Income $ — $ — $ — $ — Total Income — — — — Expenses Sponsor’s fee (128,595 ) (163,322 ) (157,888 ) (112,269 ) Interest expense on currency deposits (32,555 ) (41,492 ) (39,991 ) (28,321 ) Total Expenses (161,150 ) (204,814 ) (197,879 ) (140,590 ) Net Comprehensive Loss $ (161,150 ) $ (204,814 ) $ (197,879 ) $ (140,590 ) Basic and Diluted Earnings per Share (1) $ (0.11 ) $ (0.11 ) $ (0.11 ) $ (0.11 ) Weighted-average Shares Outstanding 1,494,565 1,860,870 1,810,674 1,307,609 Cash Dividends per Share (1) $ — $ — $ — $ — (1) The amount shown for a Share outstanding for quarterly statements may not correlate with year to date amounts due to timing of subscriptions and redemptions in relation to income earned or distributed. Fiscal Period Ended October 31, 2017: Three months Three months Three months Three months Income Interest Income $ — $ — $ — $ — Total Income — — — — Expenses Sponsor’s fee (115,734 ) (121,337 ) (114,140 ) (121,137 ) Interest expense on currency deposits (29,342 ) (30,822 ) (29,631 ) (30,049 ) Total Expenses (145,076 ) (152,159 ) (143,771 ) (151,186 ) Net Comprehensive Loss $ (145,076 ) $ (152,159 ) $ (143,771 ) $ (151,186 ) Basic and Diluted Earnings per Share (1) $ (0.11 ) $ (0.11 ) $ (0.11 ) $ (0.11 ) Weighted-average Shares Outstanding 1,328,261 1,398,370 1,344,382 1,428,261 Cash Dividends per Share (1) $ — $ — $ — $ — (1) The amount shown for a Share outstanding for quarterly statements may not correlate with year to date amounts due to timing of subscriptions and redemptions in relation to income earned or distributed. |
Organization and Description _2
Organization and Description of the Trust - Additional Information (Detail) | 12 Months Ended |
Oct. 31, 2018JPY (¥)Depositorshares | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Date of Incorporation | Feb. 1, 2007 |
Initial deposits by sponsor, primary deposit account | ¥ | ¥ 10,000 |
Number of deposits accounts in which trust's assets primarily consist of Japanese Yen | Depositor | 2 |
Redemptions capital shares, number of shares in each block | shares | 50,000 |
Significant Accounting Polici_3
Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended |
Oct. 31, 2018USD ($) | |
Accounting Policies [Abstract] | |
Provision for federal income taxes | $ 0 |
Number of days in United States for tax purposes | 183 days |
Japanese Yen Deposits - Additio
Japanese Yen Deposits - Additional Information (Detail) | 12 Months Ended | ||||||||
Oct. 31, 2018USD ($) | Oct. 31, 2018JPY (¥) | Oct. 31, 2017USD ($) | Oct. 31, 2017JPY (¥) | Oct. 31, 2016USD ($) | Oct. 31, 2016JPY (¥) | Oct. 31, 2018JPY (¥) | Oct. 31, 2017JPY (¥) | Oct. 31, 2016JPY (¥) | |
Cash and Cash Equivalents [Abstract] | |||||||||
Principal deposits | $ 112,839,783 | ¥ 12,462,736,515 | $ 283,768,433 | ¥ 31,802,013,465 | $ 443,142,449 | ¥ 48,913,044,314 | |||
Principal redemptions | 99,745,024 | 10,536,230,459 | 270,838,173 | 30,833,153,795 | 477,929,067 | 52,752,711,224 | |||
Withdrawals (to pay expenses) | 696,256 | ¥ 76,898,821 | 591,577 | ¥ 66,298,233 | 832,636 | ¥ 91,904,462 | |||
Deposits, interest bearing | $ 127,074,693 | $ 109,930,540 | $ 110,280,686 | ¥ 14,341,014,525 | ¥ 12,491,407,290 | ¥ 11,588,845,853 | |||
Annual nominal rate | (0.10%) | (0.10%) |
Redeemable Capital Shares - Add
Redeemable Capital Shares - Additional Information (Detail) | 12 Months Ended |
Oct. 31, 2018 | |
Temporary Equity Disclosure [Abstract] | |
Redeemable capital shares, settlement of each creation or redemption period | 2 days |
Redeemable Capital Shares - Sch
Redeemable Capital Shares - Schedule for Redeemable Capital Shares Activity (Detail) - USD ($) | 12 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2016 | |
Temporary Equity Disclosure [Abstract] | |||
Opening Balance, Shares | 1,300,000 | 1,200,000 | 1,600,000 |
Shares issued, Shares | 1,300,000 | 3,300,000 | 5,050,000 |
Shares redeemed, Shares | (1,100,000) | (3,200,000) | (5,450,000) |
Adjustment to period Shares due to currency movement | 0 | 0 | 0 |
Ending Balance, Shares | 1,500,000 | 1,300,000 | 1,200,000 |
Opening Balance, Amount | $ 109,883,188 | $ 110,230,193 | $ 128,567,957 |
Shares issued, Amount | 112,839,783 | 283,768,433 | 443,142,449 |
Shares redeemed, Amount | (95,396,862) | (275,123,327) | (477,929,067) |
Adjustment to period Shares due to currency movement | (305,520) | (8,992,111) | 16,448,854 |
Ending Balance, Amount | $ 127,020,589 | $ 109,883,188 | $ 110,230,193 |
Selected Quarterly Informatio_3
Selected Quarterly Information (Unaudited) - Summary of Selected Quarterly Information (Unaudited) (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2018 | Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Jan. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2016 | ||||||||||
Income | ||||||||||||||||||||
Interest Income | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||
Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
Expenses | ||||||||||||||||||||
Sponsor's fee | (128,595) | (163,322) | (157,888) | (112,269) | (115,734) | (121,337) | (114,140) | (121,137) | (562,074) | (472,348) | (749,584) | |||||||||
Interest Expense on currency deposits | (32,555) | (41,492) | (39,991) | (28,321) | (29,342) | (30,822) | (29,631) | (30,049) | (142,359) | (119,844) | (76,904) | |||||||||
Total Expenses | (161,150) | (204,814) | (197,879) | (140,590) | (145,076) | (152,159) | (143,771) | (151,186) | (704,433) | (592,192) | (826,488) | |||||||||
Net Comprehensive Loss | $ (161,150) | $ (204,814) | $ (197,879) | $ (140,590) | $ (145,076) | $ (152,159) | $ (143,771) | $ (151,186) | $ (704,433) | $ (592,192) | $ (826,488) | |||||||||
Basic and Diluted Earnings per Share | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.11) | [1] | $ (0.44) | $ (0.43) | $ (0.38) | |
Weighted-average Shares Outstanding | 1,494,565 | 1,860,870 | 1,810,674 | 1,307,609 | 1,328,261 | 1,398,370 | 1,344,382 | 1,428,261 | 1,616,849 | 1,375,068 | 2,166,393 | |||||||||
Cash Dividends per Share | [1] | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||
[1] | The amount shown for a Share outstanding for quarterly statements may not correlate with year to date amounts due to timing of subscriptions and redemptions in relation to income earned or distributed. |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - Sponsor [Member] | 12 Months Ended |
Oct. 31, 2018USD ($) | |
Accrued Professional Fees [Member] | |
Related Party Transaction [Line Items] | |
Sponsor's fee accrues daily and paid monthly, annual nominal Rate | 0.40% |
Professional Fees Liability [Member] | |
Related Party Transaction [Line Items] | |
Legal fees and expenses assumed | $ 100,000 |
Excess amount of assumed audit fees and legal expenses | $ 100,000 |