Dependence on Interest-Bearing Debt and Rising Interest Rates
First written in FY2016. 16 of 40 entries say "Mitigated", first in FY2021-Q1. Latest entry: 2026-10-02.
Brass moved to the "Worse" side of this theme in 2019, 2 years before 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".
- FY2026-H1WorsenedAnnual report
「Short-term borrowings (up ¥607.713 million from the end of the previous consolidated fiscal year), the current portion of long-term borrowings (up ¥153.296 million), and long-term borrowings (up ¥245.527 million) increased.」
The increase in short- and long-term borrowings expanded the balance subject to reliance-on-interest-bearing-debt and interest rate risks. - FY2025MitigatedAnnual report
「Interest-bearing debt (¥ thousand) 4,563,032 4,122,287 Reliance on interest-bearing debt (%) 42.2 36.1 Bond interest and interest expense (¥ thousand) 18,892 32,029」
Interest-bearing debt and reliance on interest-bearing debt decreased. However, bond interest and interest expense increased from ¥18.892 million to ¥32.029 million. - FY2025-H1MitigatedAnnual report
「This was mainly due to decreases in short-term borrowings (down ¥200.000 million from the end of the previous consolidated fiscal year), the current portion of long-term borrowings (down ¥76.914 million), and long-term accrued liabilities (down ¥62.072 million), despite increases in income taxes payable and other liabilities (up ¥149.939 million) and contract liabilities (up ¥163.806 million).」
Short-term borrowings and the current portion of long-term borrowings decreased, reducing interest-bearing debt from the end of the previous period. - FY2024Decrease in interest-bearing debt and increase in relianceAnnual report
「Interest-bearing debt (¥ thousand) 4,580,289 4,563,032 Reliance on interest-bearing debt (%) 41.1 42.2 Bond interest and interest expense (¥ thousand) 21,505 18,892」
Interest-bearing debt and interest expense decreased, while reliance on interest-bearing debt rose from 41.1% to 42.2% due to the decrease in total assets. - FY2024-Q3MitigatedAnnual report
「Although long-term borrowings (up ¥447.370 million from the end of the previous consolidated fiscal year) and short-term borrowings (up ¥215.000 million) increased, the current portion of long-term borrowings (down ¥775.503 million)」
Although short-term and long-term borrowings increased, the current portion of long-term borrowings decreased by ¥775.503 million, and bonds fell to zero from ¥108.000 million at the end of the previous consolidated fiscal year. Total interest-bearing debt on the balance sheet contracted from the end of the previous consolidated fiscal year. - FY2024-Q2MitigatedAnnual report
「This was mainly due to decreases in the current portion of long-term borrowings (down ¥825.556 million from the end of the previous consolidated fiscal year), consumption taxes payable and other liabilities (down ¥115.386 million), and accounts payable (down ¥86.382 million).」
The current portion of long-term borrowings decreased by ¥825.556 million from the end of the previous consolidated fiscal year, reducing the balance subject to reliance-on-interest-bearing-debt and interest rate risks. - FY2024-Q1MitigatedAnnual report
「Bonds due for redemption within 1 year 108,000 60,000 Current portion of long-term borrowings 2,032,770 1,991,379 Long-term borrowings 2,067,261 2,086,218」
Bonds and the current portion of long-term borrowings decreased from the end of the previous consolidated fiscal year, and total interest-bearing debt on the balance sheet also decreased by approximately ¥70.434 million, reducing the balance subject to reliance-on-interest-bearing-debt and interest rate risks. - FY2023MitigatedAnnual report
「Interest-bearing debt (¥ thousand) 4,580,289 Reliance on interest-bearing debt (%) 41.1 Bond interest and interest expense (¥ thousand) 21,505」
Interest-bearing debt decreased from ¥5,627.224 million in the previous period to ¥4,580.289 million, and reliance on interest-bearing debt declined from 47.8% to 41.1%, reducing borrowing reliance and interest rate risks. - FY2023-Q3MitigatedAnnual report
「Long-term borrowings: ¥2,241.979 million; current portion of long-term borrowings: ¥2,096.739 million」
Borrowings at the end of the third quarter of the consolidated fiscal year were trending below interest-bearing debt of ¥5,627.224 million at the end of the previous fiscal year, and the balance subject to reliance-on-interest-bearing-debt and interest rate risks was contracting. - FY2023-Q2MitigatedAnnual report
「This was mainly because funds increased by ¥100.000 million in proceeds from long-term borrowings, while funds decreased due to ¥779.589 million in repayments of long-term borrowings and ¥48.000 million in bond redemptions, among other factors.」
Substantial repayments of long-term borrowings and redemption of bonds were made, indicating a contraction in borrowings subject to reliance-on-interest-bearing-debt and interest rate risks. - FY2022MitigatedAnnual report
「Interest-bearing debt (¥ thousand) 6,037,668 5,627,224 Reliance on interest-bearing debt (%) 51.7 47.8 Bond interest and interest expense (¥ thousand) 25,170 24,402」
Interest-bearing debt, reliance on interest-bearing debt, bond interest and interest expense all decreased from the previous period, reducing interest rate and borrowing reliance risks. - FY2022-Q3MitigatedAnnual report
「This was due to decreases in consumption taxes payable and other taxes (down ¥151.040 million from the end of the previous fiscal year), long-term borrowings (down ¥171.194 million), bonds (down ¥96.000 million), and long-term accounts payable (down ¥62.043 million).」
Long-term borrowings and bonds decreased from the end of the previous fiscal year, reducing the balance subject to reliance-on-interest-bearing-debt and interest rate risks. - FY2022-Q2MitigatedAnnual report
「This was due to a decrease in long-term borrowings (down ¥198.659 million from the end of the previous fiscal year).」
Long-term borrowings decreased by ¥198.659 million from the end of the previous fiscal year, reducing the balance subject to reliance-on-interest-bearing-debt and interest rate risks. - FY2022-Q1MitigatedAnnual report
「This was mainly due to decreases in accrued consumption taxes, down ¥150.181 million from the end of the previous fiscal year, and long-term borrowings, down ¥351.966 million.」
Long-term borrowings decreased by ¥351.966 million from the end of the previous fiscal year, reducing the balance subject to reliance-on-interest-bearing-debt and interest rate risks. - FY2021MitigatedAnnual report
「Interest-bearing debt (¥ thousand) 6,950,873 6,037,668 Reliance on interest-bearing debt (%) 56.4 51.7」
Interest-bearing debt decreased from ¥6,950.873 million to ¥6,037.668 million, while reliance on interest-bearing debt declined from 56.4% to 51.7%. - FY2021-Q3MitigatedAnnual report
「This was due to decreases in short-term borrowings (down ¥300.000 million from the end of the previous fiscal year) and long-term borrowings (down ¥723.802 million from the end of the previous fiscal year).」
Short-term and long-term borrowings subject to interest rate and reliance-on-interest-bearing-debt risks decreased from the end of the previous fiscal year. However, bonds increased by ¥300.000 million. - FY2021-Q2MitigatedAnnual report
「This was mainly due to decreases in advances received (down ¥245.728 million from the end of the previous fiscal year) and long-term borrowings (down ¥611.827 million from the end of the previous fiscal year).」
Long-term borrowings decreased by ¥611.827 million from the end of the previous fiscal year, and short-term borrowings also decreased from ¥300.000 million to ¥102.000 million, reducing the balance subject to reliance-on-interest-bearing-debt and interest rate risks. - FY2021-Q1MitigatedAnnual report
「This was mainly due to a decrease in long-term borrowings of ¥322.382 million from the end of the previous fiscal year, despite an increase in accounts payable of ¥198.504 million.」
Long-term borrowings subject to reliance-on-interest-bearing-debt and interest rate risks decreased from the end of the previous fiscal year, and the outstanding balance of borrowings contracted from the end of the previous period. - FY2020WorsenedAnnual report
「Interest-bearing debt (¥ thousand) 4,986,723 6,950,873 Reliance on interest-bearing debt (%) 47.6 56.4」
Interest-bearing debt increased, and reliance on interest-bearing debt also rose from 47.6% to 56.4%. - FY2020-Q3WorsenedAnnual report
「Short-term borrowings (up ¥300.000 million from the end of the previous fiscal year), current portion of long-term borrowings (up ¥338.209 million from the end of the previous fiscal year), and long-term borrowings (up ¥1,191.865 million from the end of the previous fiscal year) increased.」
Short-term and long-term borrowings subject to interest rate and reliance-on-interest-bearing-debt risks increased due to borrowings made in preparation for the COVID-19 pandemic. - FY2020-Q2WorsenedAnnual report
「This was due to increases in accrued corporate taxes, up ¥137.959 million from the end of the previous fiscal year, accrued consumption taxes, up ¥144.336 million, advances received, up ¥122.241 million, and long-term borrowings, up ¥134.286 million.」
Long-term borrowings subject to reliance-on-interest-bearing-debt and interest rate risks increased from the end of the previous fiscal year. - FY2020-Q1WorsenedAnnual report
「This was due to increases in accrued corporate taxes, up ¥64.933 million from the end of the previous fiscal year, accrued consumption taxes, up ¥110.425 million, advances received, up ¥194.157 million, and long-term borrowings, up ¥153.798 million.」
Long-term borrowings subject to reliance-on-interest-bearing-debt and interest rate risks increased by ¥153.798 million from the end of the previous fiscal year. - FY2019WorsenedAnnual report
「Interest-bearing debt (¥ thousand) 3,992,178 4,986,723 Reliance on interest-bearing debt (%) 42.9 47.6」
Interest-bearing debt increased, and reliance on interest-bearing debt also rose from 42.9% to 47.6%. - FY2019-Q3WorsenedAnnual report
「This was due to increases in the current portion of long-term borrowings, up ¥154.246 million from the end of the previous fiscal year, and long-term borrowings, up ¥830.898 million.」
Long-term borrowings and other liabilities subject to interest rate and reliance-on-interest-bearing-debt risks increased from the end of the previous fiscal year. - FY2019-Q2WorsenedAnnual report
「This was due to increases in the current portion of long-term borrowings, up ¥158.158 million from the end of the previous fiscal year, and long-term borrowings, up ¥1,002.842 million.」
Long-term borrowings and other liabilities subject to interest rate and reliance-on-interest-bearing-debt risks increased from the end of the previous fiscal year. - FY2019-Q1Continued increase in interest-bearing debtAnnual report
「This was due to increases in advances received, up ¥109.420 million from the end of the previous fiscal year, and long-term borrowings, up ¥236.353 million.」
Long-term borrowings subject to interest-bearing debt dependence and rising interest rate risks have continued to increase. - FY2018Increase in interest-bearing debt and dependenceAnnual report
「The balance of interest-bearing debt, interest-bearing debt dependence and interest expense are as follows. Fiscal year-end July 2017 Fiscal year-end July 2018 Interest-bearing debt (¥000s) 3,492,640 3,992,178 Interest-bearing debt dependence (%) 41.3 42.9 Bond interest and interest expense (¥000s) 25,215 21,428」
While the balance of interest-bearing debt and dependence increased, bond interest and interest expense declined from ¥25.215 million to ¥21.428 million. - FY2018-Q3Continued increase in interest-bearing debtAnnual report
「Short-term borrowings (up ¥250.000 million from the end of the previous fiscal year) and long-term borrowings (up ¥64.537 million from the end of the previous fiscal year) increased.」
Short-term and long-term borrowings subject to interest-bearing debt dependence and rising interest rate risks have continued to increase. - FY2018-Q2Continued increase in interest-bearing debtAnnual report
「Short-term borrowings (up ¥250.000 million from the end of the previous fiscal year),」
Short-term borrowings increased by ¥250.000 million from zero at the end of the previous fiscal year, continuing the increase in borrowings subject to interest-bearing debt dependence and rising interest rate risks. - FY2018-Q1Continued increase in interest-bearing debt balanceAnnual report
「Short-term borrowings － 250,000 Long-term borrowings 2,559,466 2,623,933」
The balances of short-term and long-term borrowings increased from the end of the previous fiscal year, and the increase in interest-bearing debt has continued. - FY2017Increase in interest-bearing debt and decline in dependenceAnnual report
「The balance of interest-bearing debt, interest-bearing debt dependence and interest expense are as follows.」
The balance of interest-bearing debt increased from ¥3,156.258 million to ¥3,492.640 million, while interest-bearing debt dependence declined from 43.7% to 41.3%, and bond interest and interest expense declined from ¥43.452 million to ¥25.215 million. - FY2017-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
It is treated as having no material changes regarding dependence on interest-bearing debt and rising interest rates. - FY2017-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
It is treated as having no material changes regarding dependence on interest-bearing debt and rising interest rates. - FY2017-Q1RestatedAnnual report
「During the six months ended [current first quarter], there was no emergence of new business or other risks, nor any material change in the business or other risks described in the annual securities report for the previous fiscal year.」
It is treated as having no material changes regarding dependence on interest-bearing debt and rising interest rates. - FY2016First statedAnnual report
「Interest-bearing debt stood at ¥3,156.258 million at the end of the fiscal year ended July 2016, and interest-bearing debt dependence was 43.7%. If interest rates rise significantly because of future changes in financial conditions, this could affect the Company’s operating results and financial condition.」
It discloses the balance of interest-bearing debt and its dependence as a percentage of total assets, and indicates the impact of rising interest rates on operating results and financial condition.