Financial Risk from Interest-Bearing Debt and Interest Rate Trends
First written in FY2024. 7 of 9 entries say "Worsened", first in FY2025-H1. Latest entry: 2026-10-15.
Logos Holdings moved to the "Worse" side of this theme in 2025, 4 years after the typical company in this theme (2021).
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
83 other companies' latest entry also says "Worsened".
- 2026-10-15WorsenedFinancial results briefing materials
「譲受価格は16億円であり、全額借入にて調達」
札証物産の在庫不動産取得を全額借入で調達することを改めて記載し、取得に伴う有利子負債エクスポージャーを示している。 - FY2026Lower financial ratios accompanied by higher borrowingsAnnual report
「Because the group has primarily financed land acquisitions and other activities through borrowings from financial institutions, interest-bearing debt is high at 210.4% of net assets, leaving its financial position highly exposed to interest-rate trends.」
Although interest-bearing debt declined from 224.5% of net assets in the previous fiscal year to 210.4%, long-term borrowings and bonds associated with new store openings and other activities, as well as interest expense, increased, so the change in financial exposure was not unidirectional. - FY2026-H1WorsenedAnnual report
「The main reasons for the increase in fixed liabilities were increases of ¥250,000 thousand in bonds and ¥496,892 thousand in long-term borrowings.」
Bonds and long-term borrowings increased from the end of the previous fiscal year, while interest expense for the interim consolidated accounting period also rose from ¥25,889 thousand to ¥63,653 thousand. This indicates greater exposure to interest-bearing debt and interest rates. - FY2025WorsenedAnnual report
「Interest-bearing debt is high at 224.5% of net assets, leaving the company with a financial position highly exposed to interest-rate trends.」
Interest-bearing debt rose from 156% of net assets reported for the previous fiscal year to 224.5%, indicating greater financial exposure to interest-rate trends. - FY2025-H1WorsenedAnnual report
「② Borrowing amount ¥3,130,000 thousand ③ Drawdown date 26 December 2024 ⑤ Interest rate First 5 years: fixed rate; latter 5 years: 3-month TIBOR + spread」
The company drew down a ¥3.13 billion term loan as a subsequent event to fund the acquisition of shares in 坂井建設株式会社 and related expenses. The interest rate is linked to TIBOR for the latter 5 years, increasing exposure to interest-bearing debt and interest-rate trends. - FY2024First statedAnnual report
「Because the group has primarily financed land acquisitions and other activities through borrowings from financial institutions, interest-bearing debt is high at 156% of net assets, leaving its financial position highly exposed to interest-rate trends.」
The company states that it will pursue financial management focused on inventory turnover periods, inventories, and financial balance. It also reports a net debt-to-equity ratio of approximately 0.11x at the end of the fiscal year under review, following the repayment and refinancing of LBO loans and other borrowings.