Interest-bearing debt and rising interest rates
First written in FY2016. 29 of 39 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-11-11.
Sanyo Homes moved to the "Worse" side of this theme in 2016, 7 years before the typical company in this theme (2023).
The whole theme swung hardest in 2025: 35 of 96 companies on the "Worse" side.
41 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「At the end of the consolidated fiscal year, interest-bearing debt excluding lease obligations was ¥19,464 million, representing 40.7% of total assets.」
Interest-bearing debt increased from ¥18,407 million at the end of the previous fiscal year to ¥19,464 million, while the ratio to total assets rose from 36.4% to 40.7%, expanding exposure to rising interest rate risks. - 2026-05-22WorsenedOccurring Fact
「（３）借入金額 23 億円」
23億円のシンジケートローン契約を開示し、有利子負債に係る借入エクスポージャーが増える方向の具体情報を示した。 - FY2026-H1WorsenedAnnual report
「Total liabilities were ¥36,223 million, an increase of ¥991 million from the end of the previous consolidated fiscal year. The main factors were a ¥5,215 million increase in real estate held for sale under development, and decreases of ¥2,261 million in cash and deposits and ¥2,226 million in real estate held for sale.」
Total liabilities increased by ¥991 million from the end of the previous fiscal year, while short- and long-term borrowings increased by ¥5,457 million. - FY2025WorsenedAnnual report
「At the end of the consolidated fiscal year, interest-bearing debt excluding lease obligations was ¥18,407 million, representing 36.4% of total assets.」
Interest-bearing debt increased from ¥16,899 million at the end of the previous fiscal year to ¥18,407 million, updating exposure to borrowing and rising interest rate risks. - FY2025-H1WorsenedAnnual report
「Total liabilities were ¥38,342 million, an increase of ¥6,840 million from the end of the previous consolidated fiscal year. The main factors were a ¥10,563 million increase in short- and long-term borrowings and a ¥3,660 million decrease in notes payable, construction payables and other liabilities.」
Total liabilities increased by ¥6,840 million from the end of the previous fiscal year, while short- and long-term borrowings increased by ¥10,563 million, expanding exposure to interest-bearing debt and rising interest rate risks. - FY2024MitigatedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, excluding lease obligations, stood at ¥16,899 million, representing 36.4% of total assets.」
Interest-bearing debt decreased from ¥21,742 million, or 43.6% of total assets, at the end of the previous fiscal year to ¥16,899 million, or 36.4%, reducing exposure to borrowing and rising interest rate risks. - FY2024-Q3WorsenedAnnual report
「Total liabilities amounted to ¥36,566 million, an increase of ¥1,169 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥2,461 million in short- and long-term borrowings and ¥557 million in advances received, partly offset by a decrease of ¥2,021 million in notes payable, construction accounts payable and other liabilities.」
Total liabilities increased by ¥1,169 million from the end of the previous consolidated fiscal year and short- and long-term borrowings also increased by ¥2,461 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2024-Q2MitigatedAnnual report
「Total liabilities amounted to ¥37,018 million, an increase of ¥1,622 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥1,103 million in notes payable, construction accounts payable and other liabilities, ¥688 million in advances received on construction contracts, ¥190 million in advances received and ¥1,648 million in other liabilities, partly offset by a decrease of ¥2,159 million in short- and long-term borrowings.」
While total liabilities increased, short- and long-term borrowings decreased by ¥2,159 million from the end of the previous consolidated fiscal year, reducing exposure to interest-bearing debt and the risk of rising interest rates. - FY2024-Q1WorsenedAnnual report
「Total liabilities amounted to ¥34,781 million, a decrease of ¥614 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥467 million in notes receivable and accounts receivable from completed construction contracts and ¥3,025 million in real estate for sale under development, partly offset by decreases of ¥4,337 million in cash and deposits and ¥1,014 million in real estate for sale.」
While total liabilities decreased, short- and long-term borrowings increased by ¥2,200 million, updating exposure to borrowings and the risk of rising interest rates. - FY2023WorsenedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, excluding lease obligations, stood at ¥21,742 million, representing 43.6% of total assets.」
Interest-bearing debt increased from ¥19,674 million, or 42.0% of total assets, in the previous fiscal year to ¥21,742 million, or 43.6%, expanding exposure to borrowings and the risk of rising interest rates. - FY2023-Q3WorsenedAnnual report
「Total liabilities amounted to ¥33,955 million, an increase of ¥2,116 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥2,217 million in short- and long-term borrowings and ¥389 million in advances received, partly offset by a decrease of ¥309 million in advances received on construction contracts.」
Total liabilities increased by ¥2,116 million from the end of the previous fiscal year and short- and long-term borrowings increased by ¥2,217 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2023-Q2WorsenedAnnual report
「Total liabilities amounted to ¥32,841 million, an increase of ¥1,002 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥1,603 million in short- and long-term borrowings and ¥226 million in advances received, partly offset by decreases of ¥143 million in advances received on construction contracts, ¥116 million in accrued expenses and ¥100 million in notes payable, construction accounts payable and other liabilities.」
Total liabilities increased by ¥1,002 million from the end of the previous consolidated fiscal year and short- and long-term borrowings increased by ¥1,603 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2023-Q1MitigatedAnnual report
「Total liabilities amounted to ¥30,112 million, a decrease of ¥1,726 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥170 million in advances received, partly offset by decreases of ¥889 million in notes payable, construction accounts payable and other liabilities, ¥238 million in short- and long-term borrowings and ¥230 million in advances received on construction contracts.」
Total liabilities decreased by ¥1,726 million from the end of the previous consolidated fiscal year and short- and long-term borrowings decreased by ¥238 million, reducing exposure to interest-bearing debt and the risk of rising interest rates. - FY2022MitigatedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, excluding lease obligations, stood at ¥19,674 million, representing 42.0% of total assets.」
Interest-bearing debt decreased from ¥23,399 million, or 44.5% of total assets, in the previous fiscal year to ¥19,674 million, or 42.0%, reducing exposure to the risk of rising interest rates. - FY2022-Q3MitigatedAnnual report
「Total liabilities amounted to ¥32,228 million, a decrease of ¥3,461 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥2,837 million in advances received on construction contracts, partly offset by decreases of ¥2,909 million in notes payable, construction accounts payable and other liabilities and ¥2,356 million in short- and long-term borrowings.」
Total liabilities and short- and long-term borrowings decreased from the end of the previous fiscal year, reducing exposure to interest-bearing debt and the risk of rising interest rates. - FY2022-Q2MitigatedAnnual report
「Total liabilities amounted to ¥29,934 million, a decrease of ¥5,755 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥2,614 million in advances received on construction contracts, partly offset by decreases of ¥4,179 million in short- and long-term borrowings and ¥3,333 million in notes payable, construction accounts payable and other liabilities.」
Total liabilities decreased by ¥5,755 million from the end of the previous consolidated fiscal year and short- and long-term borrowings decreased by ¥4,179 million, reducing exposure to interest-bearing debt and the risk of rising interest rates. - FY2022-Q1WorsenedAnnual report
「Total liabilities amounted to ¥38,213 million, an increase of ¥2,523 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥4,859 million in total short- and long-term borrowings, ¥2,393 million in advances received on construction contracts and ¥343 million in advances received, partly offset by a decrease of ¥4,123 million in notes payable, construction accounts payable and other liabilities.」
At the end of the first quarter, total liabilities increased by ¥2,523 million from the end of the previous fiscal year and short- and long-term borrowings increased by ¥4,859 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2021Interest-bearing debt decreased, while its ratio to total assets increasedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, excluding lease obligations, stood at ¥23,399 million, representing 44.5% of total assets.」
Interest-bearing debt decreased from ¥28,444 million in the previous fiscal year to ¥23,399 million, while its ratio to total assets increased from 40.0% to 44.5%. - FY2021-Q3WorsenedAnnual report
「Total liabilities amounted to ¥44,327 million, an increase of ¥2,929 million from the end of the previous consolidated fiscal year. The main factor was an increase of ¥5,966 million in short- and long-term borrowings, partly offset by a decrease of ¥3,059 million in notes payable, construction accounts payable and other liabilities.」
Total liabilities increased by ¥2,929 million from the end of the previous fiscal year and short- and long-term borrowings increased by ¥5,966 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2021-Q2WorsenedAnnual report
「Total liabilities amounted to ¥47,252 million, an increase of ¥5,854 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥9,270 million in short- and long-term borrowings and ¥596 million in advances received, partly offset by a decrease of ¥3,571 million in notes payable, construction accounts payable and other liabilities.」
Total liabilities increased by ¥5,854 million from the end of the previous fiscal year and short- and long-term borrowings increased by ¥9,270 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2021-Q1WorsenedAnnual report
「Total liabilities amounted to ¥44,108 million, an increase of ¥2,710 million from the end of the previous consolidated fiscal year. The main factor was an increase of ¥5,920 million in total short- and long-term borrowings, partly offset by a decrease of ¥3,114 million in notes payable, construction accounts payable and other liabilities.」
Short- and long-term borrowings increased by ¥5,920 million from the end of the previous fiscal year, and total liabilities also increased by ¥2,710 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2020-Q3WorsenedAnnual report
「Total liabilities amounted to ¥47,483 million, an increase of ¥10,526 million from the end of the previous consolidated fiscal year. The main factor was an increase of ¥14,840 million in short- and long-term borrowings, partly offset by a decrease of ¥3,100 million in notes payable, construction accounts payable and other liabilities.」
Total liabilities increased by ¥10,526 million from the end of the previous fiscal year and short- and long-term borrowings increased by ¥14,840 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2020-Q2WorsenedAnnual report
「Total liabilities amounted to ¥41,117 million, an increase of ¥4,159 million from the end of the previous consolidated fiscal year. The main factor was an increase of ¥6,250 million in short- and long-term borrowings, partly offset by decreases of ¥1,020 million in notes payable, construction accounts payable and other liabilities and ¥1,091 million in advances received.」
Total liabilities increased by ¥4,159 million from the end of the previous fiscal year and short- and long-term borrowings increased by ¥6,250 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2020-Q1WorsenedAnnual report
「Total liabilities amounted to ¥41,924 million, an increase of ¥4,967 million from the end of the previous consolidated fiscal year. The main factor was an increase of ¥8,430 million in total short- and long-term borrowings, partly offset by decreases of ¥2,854 million in notes payable, construction accounts payable and other liabilities and ¥609 million in income taxes payable.」
Total short- and long-term borrowings increased by ¥8,430 million, and total liabilities also increased by ¥4,967 million from the end of the previous fiscal year. Exposure to interest-bearing debt and the risk of rising interest rates is expanding. - FY2019WorsenedAnnual report
「Our group financed the funding needs arising from increased inventories in real estate development and other activities, resulting from the active expansion of its condominium business, through borrowings from financial institutions. As a result, at the end of the current consolidated fiscal year, interest-bearing debt, excluding lease obligations, stood at ¥21,820 million, representing 40.0% of total assets.」
Interest-bearing debt increased from ¥16,400 million at the end of the previous fiscal year to ¥21,820 million, while its ratio to total assets rose from 34.1% to 40.0%, expanding exposure to borrowings and the risk of rising interest rates. - FY2019-Q3WorsenedAnnual report
「Total liabilities amounted to ¥37,701 million, an increase of ¥6,601 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥9,610 million in short- and long-term borrowings, partly offset by a decrease of ¥3,158 million in notes payable, construction accounts payable and other liabilities.」
Total liabilities increased by ¥6,601 million from the end of the previous fiscal year and short- and long-term borrowings increased by ¥9,610 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2019-Q2WorsenedAnnual report
「Total liabilities amounted to ¥36,141 million, an increase of ¥5,040 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥8,610 million in short- and long-term borrowings, partly offset by a decrease of ¥3,608 million in notes payable, construction accounts payable and other liabilities.」
At the end of the second quarter, total liabilities increased by ¥5,040 million from the end of the previous fiscal year and short- and long-term borrowings increased by ¥8,610 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2019-Q1WorsenedAnnual report
「Total liabilities amounted to ¥35,877 million, an increase of ¥4,777 million from the end of the previous consolidated fiscal year. The main factor was an increase of ¥9,430 million in total short- and long-term borrowings, partly offset by decreases of ¥3,885 million in notes payable, construction accounts payable and other liabilities and ¥527 million in income taxes payable.」
At the end of the first quarter, total liabilities increased by ¥4,777 million and total short- and long-term borrowings increased by ¥9,430 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2018MitigatedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, excluding lease obligations, stood at ¥16,400 million, representing 34.1% of total assets.」
Interest-bearing debt decreased from ¥23,590 million, or 46.5% of total assets, in the previous fiscal year to ¥16,400 million, or 34.1%, reducing exposure. - FY2018-Q3WorsenedAnnual report
「Total liabilities amounted to ¥37,617 million, an increase of ¥2,757 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥3,905 million in total short- and long-term borrowings, partly offset by a decrease of ¥1,370 million in notes payable, construction accounts payable and other liabilities.」
Compared with the end of the previous consolidated fiscal year, total liabilities increased by ¥2,757 million and total short- and long-term borrowings increased by ¥3,905 million, again expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2018-Q2Decrease in total liabilities and change in borrowing compositionAnnual report
「Total liabilities amounted to ¥34,065 million, a decrease of ¥794 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥989 million in advances received on construction contracts, partly offset by decreases of ¥1,377 million in notes payable, construction accounts payable and other liabilities and ¥367 million in income taxes payable.」
Total liabilities decreased by ¥794 million from the end of the previous consolidated fiscal year. While short-term borrowings and current maturities of long-term borrowings increased, long-term borrowings decreased. - FY2018-Q1WorsenedAnnual report
「Total liabilities amounted to ¥37,340 million, an increase of ¥2,480 million from the end of the previous consolidated fiscal year. The main factor was an increase of ¥5,760 million in total short- and long-term borrowings, partly offset by decreases of ¥2,433 million in notes payable, construction accounts payable and other liabilities, ¥512 million in income taxes payable and ¥154 million in provision for bonuses.」
At the end of the first quarter, total liabilities had increased by ¥2,480 million from the end of the previous fiscal year, while total short- and long-term borrowings had increased by ¥5,760 million, expanding exposure to interest-bearing debt and the risk of rising interest rates. - FY2017WorsenedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, excluding lease obligations, stood at ¥23,590 million, representing 46.5% of total assets. In financing through borrowings, we use both short-term and long-term borrowings after taking into account the risk of rising interest rates. However, higher interest payments may increase funding costs and affect the operating results and financial position of our group.」
While interest-bearing debt decreased from ¥23,710 million in the previous fiscal year, its ratio to total assets increased from 45.8% to 46.5%, continuing to highlight interest rate risk. - FY2017-Q3WorsenedAnnual report
「Total liabilities amounted to ¥41,413 million, an increase of ¥4,844 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥6,475 million in total short- and long-term borrowings, partly offset by decreases of ¥1,657 million in notes payable, construction accounts payable and other liabilities and ¥479 million in advances received.」
Compared with the end of the previous fiscal year, total liabilities increased by ¥4,844 million and short- and long-term borrowings increased by ¥6,475 million. Exposure to the risk of rising interest rates continues to be quantified. - FY2017-Q2WorsenedAnnual report
「Total liabilities amounted to ¥38,308 million, an increase of ¥1,738 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥4,095 million in total short- and long-term borrowings and an increase of ¥284 million in advances received on construction contracts, partly offset by decreases of ¥3,032 million in notes payable, construction accounts payable and other liabilities and ¥762 million in advances received.」
Compared with the end of the previous fiscal year, total liabilities increased by ¥1,738 million and short- and long-term borrowings increased by ¥4,095 million, continuing to quantify exposure to interest-bearing debt and the risk of rising interest rates. - FY2017-Q1WorsenedAnnual report
「Total liabilities amounted to ¥45,638 million, an increase of ¥9,068 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥12,530 million in total short- and long-term borrowings and an increase of ¥368 million in advances received on construction contracts, partly offset by a decrease of ¥3,854 million in notes payable, construction accounts payable and other liabilities.」
Total liabilities increased by ¥9,068 million from the end of the previous fiscal year, driven by an increase in short- and long-term borrowings. - FY2016First statedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, excluding lease obligations, stood at ¥23,710 million, representing 45.8% of total assets. In financing through borrowings, we use both short-term and long-term borrowings after taking into account the risk of rising interest rates. However, higher interest payments may increase funding costs and affect the operating results and financial position of our group.」
The increase in borrowings associated with the development of the condominium business has been quantified, and the risk of rising interest rates has been disclosed.