Dependence on interest-bearing debt and interest-rate fluctuations
First written in FY2016. 14 of 32 entries say "Worsened", first in FY2017-Q2. Latest entry: FY2026.
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
10 other companies' latest entry also says "Other".
- FY2026Decrease in Short-Term Borrowings and Increase in Long-Term BorrowingsAnnual report
「Short-term borrowings ¥4,928 million, long-term borrowings ¥770 million」
At the end of the current fiscal year, short-term borrowings decreased by ¥286 million to ¥4,641 million, while long-term borrowings increased by ¥498 million to ¥1,268 million. The composition of borrowings shifted from short-term to long-term. - FY2026-H1Increase in short-term borrowings and decline in long-term borrowingsAnnual report
「Short-term borrowings 4,928 5,178 Long-term borrowings 770 643」
Short-term borrowings increased by ¥250 million from the end of the previous fiscal year, while long-term borrowings decreased by ¥127 million. Borrowings are becoming increasingly short-term. - FY2025Increase in short-term borrowings and decline in long-term borrowingsAnnual report
「Short-term borrowings ¥4,928 million, long-term borrowings ¥770 million」
Short-term borrowings increased from ¥4,253 million at the end of the previous fiscal year to ¥4,928 million, while long-term borrowings decreased from ¥1,626 million to ¥770 million. Total borrowings declined, but the weighting toward short-term borrowings increased. - FY2025-H1MitigatedAnnual report
「Current liabilities were ¥7,025 million, down ¥503 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥222 million in notes and accounts payable, ¥100 million in short-term borrowings and ¥158 million in other current liabilities. Non-current liabilities were ¥3,458 million, down ¥210 million from the end of the previous consolidated fiscal year. The main factor was a ¥204 million decrease in long-term borrowings.」
Short-term borrowings decreased by ¥100 million and long-term borrowings by ¥204 million, reducing borrowing-related liabilities from the end of the previous consolidated fiscal year. - FY2024-Q3WorsenedAnnual report
「Current liabilities were ¥8,269 million, up ¥882 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥446 million in notes and accounts payable, ¥300 million in short-term borrowings and ¥227 million in accounts payable. Non-current liabilities were ¥3,698 million, down ¥394 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥237 million in long-term borrowings and ¥356 million in provision for directors' retirement benefits, and a ¥328 million increase in long-term accounts payable.」
While long-term borrowings decreased by ¥237 million, short-term borrowings increased by ¥300 million, resulting in an increase in total borrowings from the end of the previous consolidated fiscal year. The risk of reliance on interest-bearing liabilities increased due to the rise in short-term borrowings. - FY2024-Q2MitigatedAnnual report
「Non-current liabilities were ¥3,884 million, down ¥208 million from the end of the previous consolidated fiscal year. The main factors were a ¥328 million increase in long-term accounts payable and decreases of ¥149 million in long-term borrowings and ¥356 million in provision for directors' retirement benefits.」
Long-term borrowings decreased by ¥149 million, and non-current liabilities also decreased by ¥208 million from the end of the previous consolidated fiscal year. - FY2024-Q1MitigatedAnnual report
「Long-term borrowings 1,951 1,863」
Long-term borrowings decreased by ¥88 million, from ¥1,951 million at the end of the previous consolidated fiscal year to ¥1,863 million. Short-term borrowings were flat at ¥4,253 million, reducing part of the borrowing-dependency risk. - FY2023-Q3WorsenedAnnual report
「Current liabilities were ¥8,271 million, up ¥1,296 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥644 million in notes and accounts payable, ¥500 million in short-term borrowings and ¥244 million in other current liabilities. Non-current liabilities were ¥3,742 million, down ¥284 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥170 million in long-term borrowings and ¥71 million in liabilities related to retirement benefits.」
While long-term borrowings decreased, short-term borrowings increased by ¥500 million, resulting in an increase in total borrowings from the end of the previous consolidated fiscal year. - FY2023-Q2MitigatedAnnual report
「Non-current liabilities were ¥3,781 million, down ¥245 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥126 million in long-term borrowings and ¥73 million in liabilities related to retirement benefits.」
Long-term borrowings decreased by ¥126 million, and non-current liabilities also decreased by ¥245 million from the end of the previous fiscal year. - FY2023-Q1MitigatedAnnual report
「Non-current liabilities were ¥3,921 million, down ¥105 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥63 million in long-term borrowings and ¥33 million in other non-current liabilities.」
Long-term borrowings decreased by ¥63 million, and non-current liabilities also decreased by ¥105 million from the end of the previous consolidated fiscal year. - FY2022MitigatedAnnual report
「Non-current liabilities were ¥4,026 million, down ¥469 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥253 million in long-term borrowings, ¥103 million in liabilities related to retirement benefits and ¥78 million in deferred tax liabilities.」
Long-term borrowings decreased by ¥253 million, and non-current liabilities also decreased by ¥469 million from the end of the previous fiscal year. - FY2022-Q3WorsenedAnnual report
「Current liabilities were ¥7,924 million, up ¥916 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥470 million in notes and accounts payable and ¥385 million in short-term borrowings. Non-current liabilities were ¥4,093 million, down ¥402 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥170 million in long-term borrowings, ¥107 million in liabilities related to retirement benefits and ¥135 million in other non-current liabilities.」
While long-term borrowings decreased, short-term borrowings increased by ¥385 million, resulting in an increase in total borrowings from the end of the previous consolidated fiscal year. - FY2022-Q2MitigatedAnnual report
「Non-current liabilities were ¥4,231 million, down ¥264 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥126 million in long-term borrowings and ¥64 million in liabilities related to retirement benefits.」
Long-term borrowings decreased by ¥126 million, and non-current liabilities also decreased from the end of the previous consolidated fiscal year. - FY2022-Q1MitigatedAnnual report
「Non-current liabilities were ¥4,333 million, down ¥162 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥63 million in long-term borrowings and ¥63 million in other non-current liabilities.」
Long-term borrowings decreased by ¥63 million, and non-current liabilities also decreased by ¥162 million from the end of the previous consolidated fiscal year. - FY2021-Q3WorsenedAnnual report
「Current liabilities were ¥8,702 million, up ¥1,096 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥604 million in notes and accounts payable and ¥451 million in short-term borrowings. Non-current liabilities were ¥4,041 million, up ¥307 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥234 million in long-term borrowings and ¥205 million in other non-current liabilities, and a ¥98 million decrease in liabilities related to retirement benefits.」
Short-term borrowings increased by ¥451 million and long-term borrowings by ¥234 million, expanding reliance on interest-bearing liabilities. - FY2021-Q2MitigatedAnnual report
「Current liabilities were ¥7,513 million, down ¥92 million from the end of the previous consolidated fiscal year. The main factors were a ¥72 million increase in notes and accounts payable and decreases of ¥65 million in short-term borrowings and ¥90 million in other current liabilities. Non-current liabilities were ¥3,660 million, down ¥73 million from the end of the previous consolidated fiscal year. The main factors were a ¥123 million increase in other non-current liabilities and decreases of ¥111 million in long-term borrowings and ¥48 million in liabilities related to retirement benefits.」
Short-term borrowings decreased by ¥65 million and long-term borrowings by ¥111 million, reducing borrowing-related liabilities from the end of the previous fiscal year. - FY2020-Q3WorsenedAnnual report
「Current liabilities were ¥8,814 million, up ¥611 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥457 million in notes and accounts payable and ¥362 million in short-term borrowings, and a ¥126 million decrease in other current liabilities. Non-current liabilities were ¥3,975 million, up ¥259 million from the end of the previous consolidated fiscal year.」
Short-term borrowings increased by ¥362 million and long-term borrowings by ¥50 million, expanding exposure to reliance on borrowings. - FY2020-Q2WorsenedAnnual report
「Non-current liabilities were ¥4,035 million, up ¥320 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥105 million in long-term borrowings and ¥220 million in deferred tax liabilities.」
While short-term borrowings decreased, long-term borrowings increased by ¥105 million, bringing total borrowings above the level at the end of the previous fiscal year. - FY2020-Q1WorsenedAnnual report
「Current liabilities were ¥8,515 million, up ¥312 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥409 million in notes and accounts payable and ¥86 million in short-term borrowings, and decreases of ¥82 million in provision for bonuses and ¥94 million in other current liabilities. Non-current liabilities were ¥3,938 million, up ¥223 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥205 million in long-term borrowings and ¥19 million in liabilities related to retirement benefits.」
Short-term borrowings increased by ¥86 million and long-term borrowings by ¥205 million, increasing reliance on interest-bearing liabilities from the end of the previous fiscal year. - FY2019WorsenedAnnual report
「Non-current liabilities were ¥3,715 million, up ¥783 million from the end of the previous consolidated fiscal year. The main factors were a ¥977 million increase in long-term borrowings and a ¥167 million decrease in liabilities related to retirement benefits.」
Long-term borrowings increased by ¥977 million and short-term borrowings also increased by ¥236 million, expanding exposure to reliance on interest-bearing liabilities. - FY2019-Q3WorsenedAnnual report
「Current liabilities were ¥9,049 million, up ¥1,135 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥414 million in notes and accounts payable, ¥622 million in short-term borrowings and ¥245 million in other current liabilities, and a ¥93 million decrease in provision for bonuses. Non-current liabilities were ¥3,666 million, up ¥735 million from the end of the previous consolidated fiscal year. The main factors were an ¥893 million increase in long-term borrowings and a ¥147 million decrease in liabilities related to retirement benefits.」
Short-term borrowings increased by ¥622 million and long-term borrowings by ¥893 million from the end of the previous consolidated fiscal year, increasing exposure to reliance on interest-bearing liabilities. - FY2019-Q2WorsenedAnnual report
「Non-current liabilities were ¥3,073 million, up ¥141 million from the end of the previous consolidated fiscal year. The main factors were a ¥240 million increase in long-term borrowings and a ¥92 million decrease in liabilities related to retirement benefits.」
Long-term borrowings increased by ¥240 million, increasing reliance on interest-bearing liabilities from the end of the previous fiscal year. - FY2019-Q1MitigatedAnnual report
「Non-current liabilities were ¥2,826 million, down ¥104 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥70 million in long-term borrowings and ¥31 million in liabilities related to retirement benefits.」
Long-term borrowings decreased by ¥70 million, and non-current liabilities also decreased by ¥104 million from the end of the previous consolidated fiscal year. - FY2018MitigatedAnnual report
「Non-current liabilities were ¥2,931 million, down ¥327 million from the end of the previous consolidated fiscal year and down 10.0% year on year. The main factor was a ¥257 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥257 million, and the outstanding borrowing balance declined from the end of the previous fiscal year even including the increase in short-term borrowings. - FY2018-Q3WorsenedAnnual report
「Current liabilities were ¥8,547 million, up ¥993 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥621 million in notes and accounts payable and ¥378 million in short-term borrowings. Non-current liabilities were ¥3,069 million, down ¥188 million from the end of the previous consolidated fiscal year. The main factor was a ¥187 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥187 million, while short-term borrowings increased by ¥378 million, resulting in an increase in total borrowings from the end of the previous consolidated fiscal year. - FY2018-Q2MitigatedAnnual report
「Non-current liabilities were ¥3,161 million, down ¥97 million from the end of the previous consolidated fiscal year. The main factor was a ¥117 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥117 million from the end of the previous consolidated fiscal year, reducing the outstanding borrowing balance in the second quarter. - FY2018-Q1MitigatedAnnual report
「Non-current liabilities decreased by ¥78 million from the end of the previous consolidated fiscal year to ¥3,180 million. The main factor was a ¥70 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥70 million from the end of the previous consolidated fiscal year, and short-term borrowings also decreased by ¥22 million, reducing outstanding borrowings during the quarter. - FY2017WorsenedAnnual report
「Non-current liabilities increased by ¥440 million from the end of the previous consolidated fiscal year to ¥3,258 million. The main factor was an increase of ¥452 million in long-term borrowings.」
Long-term borrowings increased by ¥452 million, and ¥900 million in proceeds from long-term borrowings was also recorded, increasing dependence on interest-bearing debt. - FY2017-Q3WorsenedAnnual report
「Current liabilities increased by ¥1,066 million from the end of the previous consolidated fiscal year to ¥8,953 million. The main factors were increases of ¥860 million in notes and accounts payable and ¥334 million in short-term borrowings. Non-current liabilities increased by ¥569 million to ¥3,388 million. The main factor was an increase of ¥546 million in long-term borrowings.」
Compared with the end of the previous consolidated fiscal year, short-term borrowings increased by ¥334 million and long-term borrowings by ¥546 million, leaving exposure to dependence on borrowings at a high level. - FY2017-Q2WorsenedAnnual report
「Non-current liabilities increased by ¥602 million from the end of the previous consolidated fiscal year to ¥3,421 million. The main factor was an increase of ¥593 million in long-term borrowings.」
Long-term borrowings increased by ¥593 million, increasing the Group's exposure to dependence on interest-bearing debt. - FY2017-Q1RestatedAnnual report
「During the first-quarter cumulative consolidated period, there were no significant changes from the matters described in “II. Business Overview, 4. Business and Other Risks” of the annual securities report for the previous consolidated fiscal year.」
The company explicitly states that there have been no material changes to existing risks, including dependence on interest-bearing debt and interest-rate fluctuations. - FY2016First statedAnnual report
「The company owns its head office, factories, and certain other business facilities, and finances their acquisition through borrowings from financial institutions. As a result, interest-bearing debt represents a high proportion of total assets. The company plans to actively diversify its funding sources and focus on strengthening its equity capital, but changes in current interest-rate levels could affect the Group's operating results and financial position.」
Dependence on borrowings is identified as a risk, while the company also refers to its policy of diversifying funding sources and strengthening equity capital.