Given AUD/JPY is around 75 at the moment, BJT's distribution...

Given AUD/JPY is around 75 at the moment, BJT's distribution hedge is no longer out of the money anymore.
In fact, intead of having a negative MTM value on the distribution hedge, BJT should have a positive MTM value now. (Re 2009 Interim presentation, the hedge rates for the distribution hedge is in the 68-70 range.)

This is not to be confused with the capital hedge which BJT still carry a MTM negative value. My rough estimate based on AUD/JPY of 75 is that the MTM negative value is around 40m now.