Financial improvement through reductions in interest-bearing debt and inventories
First written in FY2019-Q2. 5 of 28 entries say "Worsened", first in FY2023. Latest entry: 2026-08-07.
The whole theme swung hardest in 2026: 4 of 23 companies on the "Worse" side.
4 other companies' latest entry also says "Worsened".
- 2026-08-07WorsenedResults
「流動負債の増加（前連結会計年度末比23億66百万円増加）は、主に短期借入金が20億96百万円増加したことなどによるものであり、固定負債の増加（前連結会計年度末比４億36百万円増加）は、主に長期借入金が５億79百万円増加したことなどによるものです。」
短期借入金と長期借入金がともに増加し、負債合計も前年度末比28億3百万円増加した。 - FY2026MitigatedAnnual report
「The equity ratio improved from 36.9% in the fiscal year ended March 2022 to 48.1% at the end of the current consolidated fiscal year. The net D/E ratio also improved to 0.4 times, steadily strengthening the Company's financial position. However, to address the uncertain operating environment and build a stronger financial foundation, the Company will continue working to secure stable profits, optimize inventories and further improve financial soundness.」
The equity ratio and net D/E ratio improved to 48.1% and 0.4 times, respectively, reducing the previously stated pressure on financial soundness. Inventory optimization remains an ongoing issue. - 2026-05-15MitigatedResults
「当連結会計年度末における負債合計は146億68百万円となり、前連結会計年度末に比べ11億72百万円減少しました。」
短期借入金は前期末比で減少し、長期借入金も18億20百万円から14億57百万円へ減少した。前回開示で悪化方向だった有利子負債について、年度末には圧縮方向の変化が記載されている。 - FY2026-H1WorsenedAnnual report
「Total liabilities at the end of the interim consolidated accounting period were ¥17,429 million, an increase of ¥1,588 million from the end of the previous consolidated fiscal year. Current liabilities increased by ¥1,852 million from the end of the previous consolidated fiscal year, mainly because short-term borrowings increased by ¥2,365 million, despite a ¥577 million decrease in accounts payable included in Other. Non-current liabilities decreased by ¥264 million, mainly because long-term borrowings decreased by ¥190 million and lease liabilities included in Other decreased by ¥90 million.」
Short-term borrowings increased by ¥2,365 million from the end of the previous fiscal year, while total liabilities increased by ¥1,588 million. Long-term borrowings decreased by ¥190 million, but trends in the reduction of interest-bearing debt differed by item, with short-term borrowings moving in the wrong direction. - FY2025AdvancedAnnual report
「This was mainly due to a net decrease of ¥1,010 million in short-term borrowings and cash outflows of ¥352 million for the repayment of lease obligations, among other factors.」
The reduction of interest-bearing debt, which had increased in the previous interim period, progressed during the fiscal year, mainly as a result of a net decrease of ¥1,010 million in short-term borrowings, among other factors. - FY2025-H1WorsenedAnnual report
「The increase in current liabilities, up ¥551 million from the end of the previous consolidated fiscal year, was mainly due to a ¥1,672 million increase in short-term borrowings, although accounts payable increased ¥677 million and other payables included in other liabilities decreased ¥649 million, among other factors. The increase in non-current liabilities, up ¥407 million from the end of the previous consolidated fiscal year, was mainly due to a ¥477 million increase in long-term borrowings, among other factors.」
Short-term borrowings increased ¥1,672 million and long-term borrowings increased ¥477 million from the end of the previous fiscal year, resulting in a change in balances in the opposite direction from the reduction of interest-bearing debt achieved in the most recent fiscal year. - FY2024AdvancedAnnual report
「This was mainly due to a net decrease of ¥520 million in short-term borrowings and cash outflows of ¥633 million for the repayment of long-term borrowings, among other factors.」
The reduction of interest-bearing debt progressed through a net decrease of ¥520 million in short-term borrowings and ¥633 million in repayments of long-term borrowings. Inventories also decreased from the end of the previous fiscal year. - FY2024-Q3Higher trade receivables coexisted with higher liabilitiesAnnual report
「The increase in current assets, up ¥4,651 million from the end of the previous consolidated fiscal year, was mainly due to a ¥4,620 million increase in notes and accounts receivable, among other factors. The increase in non-current assets, up ¥374 million from the end of the previous consolidated fiscal year, was mainly due to a ¥535 million increase in investment securities, among other factors. Total liabilities at the end of the third quarter of the current consolidated fiscal year stood at ¥20,650 million, up ¥3,826 million from the end of the previous consolidated fiscal year.」
While identifying financial soundness and inventory reduction as goals, notes and accounts receivable increased ¥4,620 million and total liabilities increased ¥3,826 million. - FY2024-Q2Item-by-item changes in trade receivables, inventories and borrowingsAnnual report
「The increase in current assets, up ¥4,258 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥3,579 million in notes and accounts receivable and ¥393 million in merchandise and products, among other factors. The increase in non-current assets, up ¥403 million from the end of the previous consolidated fiscal year, was mainly due to a ¥580 million increase in investment securities, among other factors.」
While identifying financial improvement and inventory reduction as goals, notes and accounts receivable and merchandise and products increased. Among borrowings, short-term borrowings decreased while long-term borrowings increased ¥141 million, resulting in different trends by item. - FY2024-Q1WorsenedAnnual report
「The increase in current assets, up ¥1,667 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥1,088 million in notes and accounts receivable and ¥365 million in merchandise and products, among other factors. The increase in non-current assets, up ¥182 million from the end of the previous consolidated fiscal year, was mainly due to a ¥265 million increase in investment securities, among other factors. Total liabilities at the end of the first quarter of the current consolidated fiscal year stood at ¥18,343 million, up ¥1,520 million from the end of the previous consolidated fiscal year. The increase in current liabilities, up ¥1,640 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥248 million in accounts payable and ¥1,130 million in short-term borrowings, among other factors.」
Against the thread's stated goals of financial improvement and inventory reduction, notes and accounts receivable, merchandise and products, and short-term borrowings each increased. - FY2023WorsenedAnnual report
「As a result, the net D/E ratio (net interest-bearing debt divided by equity), set as the numerical financial-soundness target under the current medium-term management plan, was 0.96 times against the target of 0.8 times and fell short of the target.」
The net D/E ratio was 0.96 times against the target of 0.8 times or lower, so the financial-soundness target for the year was not achieved. Trade receivables and inventories also increased. - FY2023-Q3Continued increases in trade receivables and short-term borrowingsAnnual report
「The increase in current assets, up ¥4,465 million from the end of the previous consolidated fiscal year, was mainly due to a ¥4,486 million increase in notes and accounts receivable, among other factors. The decrease in non-current assets, down ¥168 million from the end of the previous consolidated fiscal year, was mainly due to a ¥306 million decrease in property, plant and equipment, although investment securities increased ¥149 million, among other factors. Total liabilities at the end of the third quarter of the current consolidated fiscal year stood at ¥20,678 million, up ¥3,954 million from the end of the previous consolidated fiscal year. The increase in current liabilities, up ¥4,040 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥3,145 million in accounts payable and ¥573 million in short-term borrowings, among other factors.」
While identifying improvement of the financial foundation as a goal, trade receivables increased ¥4,486 million and short-term borrowings increased ¥573 million. - FY2023-Q2Continued increases in short-term borrowings and trade receivablesAnnual report
「The increase in current assets, up ¥3,075 million from the end of the previous consolidated fiscal year, was mainly due to a ¥3,197 million increase in notes and accounts receivable, although cash and deposits decreased ¥564 million, among other factors. The decrease in non-current assets, down ¥128 million from the end of the previous consolidated fiscal year, was mainly due to a ¥214 million decrease in property, plant and equipment, among other factors.」
While identifying improvement of the financial foundation as a goal, trade receivables increased ¥3,197 million. Short-term borrowings also increased ¥2,163 million and long-term borrowings increased ¥111 million. - FY2023-Q1Increases in short-term borrowings, trade receivables and raw-material inventoriesAnnual report
「The increase in current assets, up ¥1,006 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥1,062 million in notes and accounts receivable and ¥405 million in raw materials and supplies, although cash and deposits decreased ¥417 million, among other factors. The increase in non-current assets, up ¥20 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥75 million in investment securities and ¥56 million in deferred tax assets included in other investments and other assets, although property, plant and equipment decreased ¥121 million, among other factors. Total liabilities at the end of the first quarter of the current consolidated fiscal year stood at ¥17,782 million, up ¥1,058 million from the end of the previous consolidated fiscal year. The increase in current liabilities, up ¥1,123 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥498 million in accounts payable and ¥836 million in short-term borrowings, among other factors. The decrease in non-current liabilities, down ¥65 million from the end of the previous consolidated fiscal year, was mainly due to a ¥38 million decrease in long-term borrowings, among other factors.」
While identifying financial improvement as a goal, trade receivables increased ¥1,062 million, raw materials and supplies increased ¥405 million, and short-term borrowings increased ¥836 million. Long-term borrowings decreased ¥38 million, with different trends by item. - FY2022Lower borrowings coexisted with higher inventoriesAnnual report
「The Group uses the equity ratio and net D/E ratio (net interest-bearing debt divided by equity) as indicators of financial soundness. Although these have been improving year by year, the Group recognizes that its ratio of interest-bearing debt remains high and that it has not yet achieved a robust financial structure. Accordingly, it will work to improve financial soundness by securing stable profits on an ongoing basis while reducing inventories.」
Although borrowings and financial ratios improved, inventories increased, so progress in reducing borrowings and inventories was not uniform. - FY2022-Q3Continued increase in borrowingsAnnual report
「The increase in current liabilities, up ¥3,513 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥2,552 million in accounts payable and ¥815 million in short-term borrowings, among other factors. The increase in non-current liabilities, up ¥229 million from the end of the previous consolidated fiscal year, was mainly due to a ¥189 million increase in long-term borrowings, among other factors.」
While identifying financial improvement as a goal, short-term borrowings increased ¥815 million and long-term borrowings increased ¥189 million, marking a continued rise in borrowings. - FY2022-Q2Reversal to an increase in borrowingsAnnual report
「The increase in current liabilities, up ¥1,708 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥548 million in accounts payable and ¥1,416 million in short-term borrowings, among other factors. The increase in non-current liabilities, up ¥414 million from the end of the previous consolidated fiscal year, was mainly due to a ¥325 million increase in long-term borrowings, among other factors.」
Although decreases in short- and long-term borrowings had been reported through the previous quarter, in the second quarter short-term borrowings increased ¥1,416 million and long-term borrowings increased ¥325 million. - FY2022-Q1Short-term borrowings increased while long-term borrowings decreasedAnnual report
「The increase in current liabilities, up ¥557 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥452 million in accounts payable and ¥526 million in short-term borrowings, although other payables included in other liabilities decreased ¥308 million, among other factors. The decrease in non-current liabilities, down ¥28 million from the end of the previous consolidated fiscal year, was mainly due to a ¥211 million decrease in long-term borrowings, although lease obligations included in other liabilities increased ¥182 million, among other factors.」
Short-term borrowings increased ¥526 million, while long-term borrowings decreased ¥211 million, with different trends among the components of interest-bearing debt. - FY2021AchievedAnnual report
「As a result, the equity ratio, which was set as a financial soundness target in the New Medium-Term Management Plan <Challenge> challenge2022, reached 32.5%, exceeding 30%, while the net D/E ratio (net interest-bearing debt ÷ equity) reached 0.95x, achieving the target of 1.0x or less.」
The company achieved its numerical targets of an equity ratio of at least 30% and a net D/E ratio of no more than 1.0 times as a result of reducing interest-bearing debt and trade receivables and inventories. - FY2021-Q3AdvancedAnnual report
「The increase in current liabilities, up ¥1,802 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥2,465 million in accounts payable and ¥368 million in income taxes payable, although short-term borrowings decreased ¥1,262 million, among other factors. The decrease in non-current liabilities, down ¥521 million from the end of the previous consolidated fiscal year, was mainly due to a ¥581 million decrease in long-term borrowings, among other factors.」
Short-term borrowings decreased ¥1,262 million and long-term borrowings decreased ¥581 million. On the balance sheet, total inventories of merchandise and products, work in progress, raw materials and supplies also decreased from the end of the previous consolidated fiscal year, indicating concrete progress in reducing interest-bearing debt and inventories. - FY2021-Q2AdvancedAnnual report
「The decrease in current liabilities, down ¥1 million from the end of the previous consolidated fiscal year, was mainly due to decreases of ¥187 million in short-term borrowings and ¥503 million in other payables included in other liabilities, although accounts payable increased ¥373 million and income taxes payable increased ¥386 million, among other factors. The decrease in non-current liabilities, down ¥361 million from the end of the previous consolidated fiscal year, was mainly due to a ¥416 million decrease in long-term borrowings, among other factors.」
While identifying improvements in the financial foundation as a goal, short-term borrowings decreased ¥187 million and long-term borrowings decreased ¥416 million. Inventories also decreased from the end of the previous consolidated fiscal year, indicating concrete progress in reducing borrowings and inventories. - FY2021-Q1Lower borrowings coexisted with higher inventoriesAnnual report
「The decrease in non-current liabilities, down ¥149 million from the end of the previous consolidated fiscal year, was mainly due to a ¥227 million decrease in long-term borrowings, among other factors.」
Long-term borrowings decreased ¥227 million and short-term borrowings also decreased ¥133 million, while total inventories of merchandise and products, work in progress, raw materials and supplies increased from the end of the previous fiscal year. Borrowings and inventories therefore moved in different directions. - FY2020Financial soundness targets coexisted with increases in borrowings and inventoriesAnnual report
「The Group uses the equity ratio and D/E ratio as indicators of financial soundness. Although these have been improving year by year, the Group recognizes that its ratio of interest-bearing debt remains high and that it has not yet achieved a robust financial structure. Accordingly, it will work to improve financial soundness by securing stable profits on an ongoing basis while reducing inventories.」
While identifying improvements in the equity ratio and D/E ratio as goals, inventories increased ¥1,057 million during the year and short-term borrowings also increased ¥678 million. - FY2020-Q3Borrowings continue to increaseAnnual report
「The increase in current liabilities, up ¥3,106 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥2,098 million in accounts payable and ¥860 million in short-term borrowings, among other factors. The increase in non-current liabilities, up ¥160 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥215 million in long-term borrowings and ¥128 million in long-term lease liabilities included in other liabilities, although deferred tax liabilities included in other liabilities decreased ¥225 million, among other factors.」
While identifying the reduction of interest-bearing debt as a goal, short-term borrowings increased ¥860 million and long-term borrowings increased ¥215 million. - FY2020-Q2Continued increases in short- and long-term borrowings and inventoriesAnnual report
「The increase in current liabilities, up ¥1,182 million from the end of the previous consolidated fiscal year, was mainly due to an increase of ¥1,889 million in short-term borrowings, although accounts payable increased ¥277 million and other payables included in other liabilities decreased ¥603 million, among other factors. The increase in non-current liabilities, up ¥286 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥421 million in long-term borrowings and ¥140 million in lease obligations included in other liabilities, although deferred tax liabilities included in other liabilities decreased ¥288 million, among other factors.」
While identifying the reduction of interest-bearing debt as a goal, short-term borrowings increased ¥1,889 million and long-term borrowings increased ¥421 million. Inventories also increased ¥282 million from the end of the previous fiscal year, with the debt-reduction and inventory-reduction measures showing different trends by item. - FY2019Reduction in interest-bearing debt coexisted with higher inventoriesAnnual report
「Non-operating income and expenses also improved as a result of continued thorough credit control and reductions in interest-bearing debt, among other measures,」
As a result of continuing to reduce interest-bearing debt, non-operating income and expenses improved, while inventories increased ¥773 million in operating activities, resulting in different trends by item for interest-bearing debt and inventories. - FY2019-Q3Increase in Short-Term BorrowingsAnnual report
「The increase in current liabilities, up ¥2,722 million from the end of the previous consolidated fiscal year, was mainly due to increases of ¥1,844 million in accounts payable and ¥1,162 million in short-term borrowings, among other factors.」
While identifying the reduction of interest-bearing debt as a financial improvement measure, short-term borrowings increased ¥1,162 million from the end of the previous consolidated fiscal year. - FY2019-Q2First statedAnnual report
「Regarding the "financial foundation," the company is working to improve its financial position by reducing interest-bearing debt and inventories.」
The company has specified measures to reduce interest-bearing debt and inventories to stabilize its financial foundation.