Securing a Financial Foundation to Meet Investment Needs
First written in FY2016. 8 of 27 entries say "Advanced", first in FY2021-Q2. Latest entry: FY2026-H1.
The whole theme swung hardest in 2024: 3 of 34 companies on the "Worse" side.
11 other companies' latest entry also says "Advanced".
- FY2026-H1AdvancedAnnual report
「Based on a resolution of the Board of Directors meeting held on 30 September 2025, the company entered into a syndicated loan agreement on 28 October 2025, with Mitsubishi UFJ Bank, Ltd. as lead arranger, and drew down the loan on 31 October 2025.」
As a subsequent event after the filing, the company drew down a ¥10.0 billion fixed-rate syndicated loan for working capital. The repayment date is 31 October 2030, and the loan is subject to financial covenants concerning the maintenance of shareholders' equity, avoidance of consecutive ordinary losses and maintenance of its credit rating. - FY2025AdvancedAnnual report
「Interest-bearing debt increased by ¥28.8 billion due to financing associated with promoting growth investments and other initiatives.」
External financing to support growth investments progressed, and interest-bearing debt increased by ¥28.8 billion from the end of the previous fiscal year. - FY2025-H1AdvancedAnnual report
「The main factors were increases in funds of ¥2.2 billion from higher short-term borrowings, ¥40.0 billion from higher commercial paper and ¥6.5 billion from higher long-term borrowings.」
As financing to support growth investments and other initiatives, the company disclosed cash inflows from ¥40.0 billion of commercial paper and ¥6.5 billion of long-term borrowings, among other sources. Total liabilities at the end of the interim period increased by ¥36.9 billion year on year, and the equity ratio was 37.6%. - FY2024Increase in external financing accompanying growth investmentsAnnual report
「The main factor was that funding and repayments associated with promoting growth investments resulted in net funding of ¥14.8 billion.」
Funding and repayments associated with growth investments resulted in net funding of ¥14.8 billion, and interest-bearing debt increased by ¥15.0 billion from the end of the previous fiscal year. - FY2024-Q3Change in liability structure due to higher commercial paperAnnual report
「At the end of the third quarter of the current consolidated fiscal year, total liabilities increased by ¥5.5 billion from the end of the previous consolidated fiscal year to ¥497.8 billion, up 1.1%, mainly because commercial paper increased by ¥40.0 billion, advances received on construction contracts in progress by ¥9.3 billion and bonds by ¥7.9 billion, despite decreases of ¥28.2 billion in notes payable, construction payables and other liabilities and ¥23.1 billion in short-term borrowings.」
Short-term borrowings and other liabilities decreased, while commercial paper increased by ¥40.0 billion, among other items, resulting in a ¥5.5 billion year-on-year increase in total liabilities. - FY2024-Q2Continued debt reductionAnnual report
「At the end of the second quarter of the current consolidated fiscal year, total liabilities decreased by ¥68.1 billion from the end of the previous consolidated fiscal year to ¥424.1 billion, down 13.8%, mainly because notes payable, construction payables and other liabilities decreased by ¥37.1 billion, short-term borrowings by ¥43.5 billion and long-term borrowings by ¥4.4 billion, despite increases of ¥13.7 billion in advances received on construction contracts in progress and ¥4.2 billion in deposits received.」
Total liabilities decreased by ¥68.1 billion year on year due to decreases in short-term and long-term borrowings and notes payable, construction payables and other liabilities. The equity ratio was 43.8%. - FY2024-Q1Debt reduction and higher equity ratioAnnual report
「At the end of the first quarter of the current consolidated fiscal year, total liabilities decreased by ¥79.3 billion from the end of the previous consolidated fiscal year to ¥412.9 billion, down 16.1%, mainly because notes payable, construction payables and other liabilities decreased by ¥37.1 billion and short-term borrowings by ¥49.7 billion, despite increases of ¥5.3 billion in advances received on construction contracts in progress and ¥5.7 billion in deposits received.」
Total liabilities decreased by ¥79.3 billion year on year due to decreases in short-term borrowings and notes payable, construction payables and other liabilities, while the equity ratio rose from 38.9% at the end of the previous fiscal year to 43.8%. - FY2023Increase in Interest-Bearing Debt and Decline in Equity RatioAnnual report
「At the end of the current consolidated fiscal year, total liabilities increased by ¥50.1 billion from the end of the previous consolidated fiscal year to ¥492.2 billion, up 11.3%, mainly because notes payable, construction payables and other liabilities increased by ¥13.5 billion, short-term borrowings by ¥21.5 billion, provision for losses on construction contracts by ¥6.7 billion and long-term borrowings by ¥35.7 billion, despite decreases of ¥20.0 billion in commercial paper and ¥5.1 billion in bonds.」
Total liabilities increased by ¥50.1 billion year on year, mainly due to increases in short-term and long-term borrowings, and the equity ratio was 38.9%. - FY2023-Q3Increase in Interest-Bearing Debt and Decline in Equity RatioAnnual report
「Total liabilities increased by ¥34.3 billion from the end of the previous consolidated fiscal year to ¥476.4 billion, up 7.8%, mainly because long-term borrowings increased by ¥33.6 billion, advances received on construction contracts in progress by ¥7.4 billion and short-term borrowings by ¥5.9 billion.」
At the end of the third quarter, total liabilities increased by ¥34.3 billion year on year, mainly due to increases in long-term and short-term borrowings, while the equity ratio declined from 41.6% to 39.3%. - FY2023-Q2AdvancedAnnual report
「Based on a resolution of the Board of Directors meeting held on 30 September 2022, the company entered into a syndicated loan agreement on 26 October 2022, with Mitsubishi UFJ Bank, Ltd. as arranger, as described below, and drew down the loan on 31 October 2022.」
As a subsequent event after the filing date, the company drew down a ¥30.0 billion syndicated loan on 31 October 2022. The repayment date is 29 October 2032, and the proceeds are for working capital. - FY2023-Q1Higher equity ratio and debt reductionAnnual report
「Total liabilities decreased by ¥63.4 billion from the end of the previous consolidated fiscal year to ¥378.6 billion, down 14.4%, mainly because short-term borrowings decreased by ¥26.5 billion and notes payable, construction payables and other liabilities by ¥21.9 billion.」
Total liabilities decreased by ¥63.4 billion year on year due to decreases in short-term borrowings and notes payable, construction payables and other liabilities, while the equity ratio rose from 41.6% to 45.5%. This was a change in the financial structure during the quarter, not a change in the financial policy itself. - FY2022AdvancedAnnual report
「Promote the use of interest-bearing debt, with a D/E ratio of no more than 0.8x.」
The company indicated a capital allocation policy of using interest-bearing debt, at a D/E ratio of no more than 0.8x, in addition to operating income, sales of assets held and sales of policy-held shares, as sources of funding for growth investments. - FY2022-Q3Changes in the liability structureAnnual report
「At the end of the third quarter of the current consolidated fiscal year, total liabilities decreased by ¥28.0 billion from the end of the previous consolidated fiscal year to ¥395.2 billion, down 6.6%, mainly because notes payable, construction payables and other liabilities decreased by ¥36.0 billion and commercial paper by ¥20.0 billion, despite increases of ¥13.4 billion in short-term borrowings and ¥11.1 billion in deposits received.」
Short-term borrowings and deposits received increased, while notes payable, construction payables and other liabilities and commercial paper decreased, resulting in a ¥28.0 billion year-on-year decrease in total liabilities. - FY2022-Q2Changes in the liability structureAnnual report
「At the end of the second quarter of the current consolidated fiscal year, total liabilities decreased by ¥31.8 billion from the end of the previous consolidated fiscal year to ¥391.3 billion, down 7.5%, mainly because notes payable, construction payables and other liabilities decreased by ¥17.0 billion, short-term borrowings by ¥15.1 billion and commercial paper by ¥10.0 billion, despite a ¥10.0 billion increase in bonds.」
Bonds increased, while notes payable, construction payables, short-term borrowings and commercial paper decreased, resulting in a ¥31.8 billion year-on-year decrease in total liabilities. - FY2022-Q1Changes in the liability structureAnnual report
「At the end of the first quarter of the current consolidated fiscal year, total liabilities decreased by ¥33.8 billion from the end of the previous consolidated fiscal year to ¥389.3 billion, down 8.0%, mainly because short-term borrowings decreased by ¥15.8 billion and commercial paper by ¥20.0 billion, despite increases of ¥10.3 billion in deposits received and ¥10.0 billion in bonds.」
In connection with securing the financial base, the liability structure changed as short-term borrowings and commercial paper decreased while bonds increased. - FY2021AdvancedAnnual report
「Cash provided by financing activities increased by ¥31.2 billion. Although repayments of long-term borrowings reduced funds by ¥6.6 billion and dividend payments reduced funds by ¥7.9 billion, the issuance of commercial paper increased funds by ¥20.0 billion and the issuance of bonds increased funds by ¥20.0 billion. These were the main factors.」
The company issued ¥20.0 billion of commercial paper and ¥20.0 billion of bonds as external financing to fund growth investments and working capital. - FY2021-Q3AdvancedAnnual report
「At the end of the third quarter of the current consolidated fiscal year, total liabilities increased by ¥57.6 billion from the end of the previous consolidated fiscal year to ¥418.7 billion, up 16.0%, mainly because commercial paper increased by ¥40.0 billion and bonds by ¥15.0 billion, despite a ¥17.4 billion decrease in notes payable, construction payables and other liabilities.」
In connection with securing the financial base, the company disclosed increases of ¥40.0 billion in commercial paper and ¥15.0 billion in bonds, indicating that the scale of external financing had expanded from the end of the previous consolidated fiscal year. - FY2021-Q2AdvancedAnnual report
「Although the repayment of short-term borrowings reduced funds by ¥17.9 billion, the issuance of commercial paper increased funds by ¥25.0 billion and the issuance of bonds increased funds by ¥20.0 billion. These were the main factors.」
As specific funding measures to secure the financial base, the company disclosed cash inflows of ¥25.0 billion from commercial paper and ¥20.0 billion from bond issuance. - FY2021-Q1RestatedAnnual report
「The equity ratio was 44.1%.」
In connection with the policy of maintaining a sound financial position, the company disclosed an equity ratio of 44.1% at the end of the first quarter. No change to the policy itself was reported. - FY2020-Q2RestatedAnnual report
「The equity ratio was 41.8%.」
Under the policy of maintaining a sound financial position with an equity ratio of approximately 40% as a benchmark, the equity ratio was 41.8% at the end of the second quarter. No change to the policy itself was reported. - FY2020-Q1RestatedAnnual report
「The equity ratio was 41.5%.」
Under the policy of maintaining a sound financial position with an equity ratio of approximately 40% as a benchmark, the equity ratio was 41.5% at the end of the first quarter. No change to the policy itself was reported. - FY2019RestatedAnnual report
「Maintain a sound financial position by improving cash flow and securing appropriate retained earnings, with an equity ratio of approximately 40%.」
The company continues to pursue a financial policy targeting an equity ratio of approximately 40%. The equity ratio at the end of the period was 39.9%. - FY2019-Q3RestatedAnnual report
「The equity ratio was 42.0%.」
There was no material change to the policy of maintaining a sound financial position with an equity ratio of approximately 40% as a benchmark. The equity ratio at the end of the third quarter was 42.0%. - FY2019-Q2RestatedAnnual report
「The equity ratio was 45.8%.」
In connection with the policy of maintaining a sound financial position with an equity ratio of approximately 40% as a benchmark, the company disclosed an equity ratio of 45.8% at the end of the second quarter. No material change to the policy itself was reported. - FY2018RestatedAnnual report
「Maintain a sound financial position by improving cash flow and securing appropriate retained earnings, with an equity ratio of approximately 40%.」
The company continues to maintain a financial policy that targets an equity ratio of approximately 40%. The equity ratio at the end of the period was 43.7%. - FY2017RaisedAnnual report
「Maintain a sound financial position by improving cash flow and securing appropriate retained earnings, with an equity ratio of approximately 40%.」
The policy for maintaining the equity ratio changed from at least 35% to approximately 40%. The equity ratio was 41.7% at the end of March 2017. - FY2016First statedAnnual report
「Our basic policy is to meet investment needs by improving cash flow and securing appropriate retained earnings, while maintaining a stable equity ratio of at least 35%.」
The company has indicated a financial policy of meeting investment needs through improved cash flow and retained earnings while stably maintaining an equity ratio of at least 35%.