Risks Related to Reliance on Borrowings, Store Performance and Progress on New Store Openings
First written in FY2016. 20 of 37 entries say "Mitigated", first in FY2017. Latest entry: 2026-08-14.
Mandarake moved to the "Worse" side of this theme in 2026, 5 years after the typical company in this theme (2021).
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
82 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「At the end of the interim accounting period, liabilities totaled ¥7,417 million, an increase of ¥332 million from the end of the previous fiscal year. This was mainly due to increases of ¥165 million in accrued corporate taxes and other taxes and ¥137 million in long-term borrowings.」
Liabilities increased by ¥332 million, with the increase in long-term borrowings being one of the main factors, indicating greater exposure related to dependence on borrowings. - FY2025MitigatedAnnual report
「The Company primarily finances working capital to support the purchase of merchandise and funding for the flexible opening of new stores through borrowings from financial institutions. The balance stood at ¥4,914 million at the end of the fiscal year.」
Dependence on borrowings continues, but borrowings decreased from ¥5,061 million in the previous fiscal year to ¥4,914 million, reducing exposure. - FY2025-H1MitigatedAnnual report
「Liabilities at the end of the interim accounting period increased by ¥75 million from the end of the previous fiscal year to ¥7,302 million. This was mainly due to a ¥190 million increase in the provision for directors' retirement benefits, partly offset by decreases of ¥84 million in long-term borrowings and ¥20 million in long-term borrowings due within one year.」
Total liabilities increased due to the provision for directors' retirement benefits, while long-term borrowings and long-term borrowings due within one year decreased, reducing exposure related to dependence on borrowings. - FY2024MitigatedAnnual report
「The balance stood at ¥5,061 million at the end of the fiscal year.」
Dependence on borrowings continues, but borrowings decreased from ¥6,146 million in the previous fiscal year to ¥5,061 million. - FY2024-Q2MitigatedAnnual report
「Liabilities at the end of the second quarter accounting period decreased by ¥469 million from the end of the previous fiscal year to ¥7,834 million. This was mainly due to a decrease in long-term borrowings.」
The Company states that liabilities decreased by ¥469 million, mainly due to a decrease in long-term borrowings, reducing exposure related to dependence on borrowings. - FY2024-Q1MitigatedAnnual report
「Liabilities at the end of the first quarter accounting period decreased by ¥507 million from the end of the previous fiscal year to ¥7,796 million. This was mainly due to decreases of ¥227 million in long-term borrowings and ¥102 million in accounts payable and other payables.」
The Company states that liabilities decreased by ¥507 million and long-term borrowings also decreased by ¥227 million, reducing exposure related to dependence on borrowings. - FY2023MitigatedAnnual report
「The Company primarily finances working capital to support the purchase of merchandise and funding for the flexible opening of new stores through borrowings from financial institutions. The balance stood at ¥6,146 million at the end of the fiscal year.」
Dependence on borrowings continues, but borrowings decreased from ¥6,449 million in the previous fiscal year to ¥6,146 million. - FY2023-Q3MitigatedAnnual report
「Liabilities at the end of the third quarter accounting period decreased by ¥291 million from the end of the previous fiscal year to ¥8,006 million. This was mainly due to a decrease in long-term borrowings.」
The Company states that liabilities decreased by ¥291 million from the end of the previous fiscal year, mainly due to a decrease in long-term borrowings, reducing exposure related to dependence on borrowings. - FY2023-Q2MitigatedAnnual report
「Liabilities at the end of the second quarter accounting period decreased by ¥381 million from the end of the previous fiscal year to ¥7,915 million. This was mainly due to a decrease in long-term borrowings.」
Dependence on borrowings continues, but liabilities decreased by ¥381 million, mainly due to a decrease in long-term borrowings, reducing exposure. - FY2023-Q1MitigatedAnnual report
「Liabilities at the end of the first quarter accounting period decreased by ¥128 million from the end of the previous fiscal year to ¥8,169 million. This was mainly due to a decrease in long-term borrowings.」
Dependence on borrowings continues, but liabilities decreased by ¥128 million from the end of the previous fiscal year, mainly due to a decrease in long-term borrowings, reducing exposure. - FY2022MitigatedAnnual report
「The balance stood at ¥6,449 million at the end of the fiscal year.」
Dependence on borrowings continues, but borrowings decreased from ¥6,777 million in the previous fiscal year to ¥6,449 million. The Company states that repayments of long-term borrowings and bond redemptions exceeded new borrowings. - FY2022-Q3WorsenedAnnual report
「Liabilities at the end of the third quarter accounting period increased by ¥98 million from the end of the previous fiscal year to ¥8,428 million. This was mainly because the increase in short-term borrowings exceeded the decrease in long-term borrowings.」
The increase in short-term borrowings exceeded the decrease in long-term borrowings, and liabilities increased by ¥98 million, indicating greater exposure related to dependence on borrowings. - FY2022-Q2MitigatedAnnual report
「Liabilities at the end of the second quarter accounting period decreased by ¥140 million from the end of the previous fiscal year to ¥8,188 million. This was mainly due to a decrease in long-term borrowings.」
Dependence on borrowings continues, but liabilities decreased by ¥140 million from the end of the previous fiscal year, mainly due to a decrease in long-term borrowings, reducing exposure. - FY2022-Q1WorsenedAnnual report
「Liabilities at the end of the first quarter accounting period increased by ¥134 million from the end of the previous fiscal year to ¥8,463 million. This was mainly because the increase in short-term borrowings exceeded the decrease in long-term borrowings.」
The increase in short-term borrowings exceeded the decrease in long-term borrowings, and liabilities increased by ¥134 million from the end of the previous fiscal year, indicating greater exposure related to dependence on borrowings. - FY2021MitigatedAnnual report
「The Company primarily finances working capital to support the purchase of merchandise and funding for the flexible opening of new stores through borrowings from financial institutions. The balance stood at ¥6,777 million at the end of the fiscal year.」
Dependence on borrowings continues, but borrowings decreased from ¥7,054 million at the end of the previous fiscal year to ¥6,777 million. The Company also states that repayments of borrowings and bond redemptions exceeded new borrowings in financing activities. - FY2021-Q3RestatedAnnual report
「Liabilities at the end of the third quarter accounting period increased by ¥72 million from the end of the previous fiscal year to ¥8,483 million. This was due mainly to increases in the provision for bonuses and short-term borrowings, partly offset by a decrease in long-term borrowings.」
Liabilities increased by ¥72 million from the end of the previous fiscal year due to increases in short-term borrowings and other items, while long-term borrowings decreased, indicating continued exposure related to dependence on borrowings. - FY2021-Q2RestatedAnnual report
「Liabilities at the end of the second quarter accounting period increased by ¥291 million from the end of the previous fiscal year to ¥8,701 million. This was mainly due to an increase in short-term borrowings.」
Liabilities increased by ¥291 million from the end of the previous fiscal year, mainly due to an increase in short-term borrowings, indicating continued exposure related to dependence on borrowings. - FY2021-Q1WorsenedAnnual report
「Liabilities at the end of the first quarter accounting period increased by ¥306 million from the end of the previous fiscal year to ¥8,716 million. This was mainly due to new short-term borrowings.」
The Company states that liabilities increased by ¥306 million, mainly due to new short-term borrowings, increasing exposure related to dependence on borrowings. - FY2020WorsenedAnnual report
「The Company primarily finances working capital to support the purchase of merchandise and funding for the flexible opening of new stores through borrowings from financial institutions. The balance stood at ¥7,054 million at the end of the fiscal year.」
Borrowings increased from ¥6,967 million in the previous period to ¥7,054 million, increasing exposure related to dependence on borrowings. - FY2020-Q3WorsenedAnnual report
「Liabilities at the end of the third quarter accounting period increased by ¥471 million from the end of the previous fiscal year to ¥8,799 million. This was mainly due to new short-term borrowings.」
The Company states that liabilities increased by ¥471 million from the end of the previous fiscal year, mainly due to new short-term borrowings, increasing exposure related to dependence on borrowings. - FY2020-Q2WorsenedAnnual report
「Liabilities at the end of the second quarter accounting period increased by ¥156 million from the end of the previous fiscal year to ¥8,484 million. This was mainly due to new short-term borrowings.」
The Company states that liabilities increased by ¥156 million, mainly due to new short-term borrowings, increasing exposure related to dependence on borrowings. - FY2020-Q1WorsenedAnnual report
「Liabilities at the end of the first quarter accounting period increased by ¥419 million from the end of the previous fiscal year to ¥8,747 million. This was mainly due to a ¥1,029 million increase in short-term borrowings and a ¥553 million decrease in long-term borrowings due within one year.」
Short-term borrowings increased by ¥1,029 million, while liabilities increased by ¥419 million, indicating greater exposure related to dependence on borrowings. - FY2019WorsenedAnnual report
「The Company primarily finances working capital to support the purchase of merchandise and funding for the flexible opening of new stores through borrowings from financial institutions. The balance stood at ¥6,967 million at the end of the fiscal year.」
Borrowings increased by ¥16 million from ¥6,951 million at the end of the previous fiscal year to ¥6,967 million. The Company also states that total liabilities decreased and that repayments of long-term borrowings exceeded new borrowings. - FY2019-Q3MitigatedAnnual report
「Liabilities at the end of the third quarter accounting period decreased by ¥221 million from the end of the previous fiscal year to ¥8,171 million. This was mainly due to repayments of long-term borrowings.」
The Company states that liabilities decreased by ¥221 million from the end of the previous fiscal year, mainly due to repayments of long-term borrowings, reducing exposure related to dependence on borrowings. - FY2019-Q2MitigatedAnnual report
「Liabilities at the end of the second quarter accounting period decreased by ¥60 million from the end of the previous fiscal year to ¥8,332 million. This was mainly due to repayments of long-term borrowings.」
The Company states that liabilities decreased by ¥60 million from the end of the previous fiscal year, mainly due to repayments of long-term borrowings, reducing exposure related to dependence on borrowings. - FY2019-Q1MitigatedAnnual report
「Liabilities at the end of the first quarter accounting period decreased by ¥57 million from the end of the previous fiscal year to ¥8,334 million. This was mainly due to repayments of long-term borrowings.」
The Company states that liabilities decreased by ¥57 million, mainly due to repayments of long-term borrowings, reducing exposure related to dependence on borrowings. - FY2018MitigatedAnnual report
「The Company primarily finances working capital to support the purchase of merchandise and funding for the flexible opening of new stores through borrowings from financial institutions. The balance stood at ¥6,951 million at the end of the fiscal year.」
Dependence on borrowings and on store performance and progress in opening new stores continues, but borrowings decreased from ¥7,280 million in the previous period to ¥6,951 million. - FY2018-Q3MitigatedAnnual report
「Liabilities at the end of the third quarter accounting period decreased by ¥396 million from the end of the previous fiscal year to ¥8,002 million. This was mainly due to repayments of long-term borrowings.」
The Company states that liabilities decreased by ¥396 million from the end of the previous fiscal year, mainly due to repayments of long-term borrowings, reducing exposure related to dependence on borrowings. - FY2018-Q2MitigatedAnnual report
「Liabilities decreased by ¥277 million from the previous fiscal year, mainly due to repayments of long-term borrowings, to ¥8,120 million.」
The Company states that liabilities decreased by ¥277 million from the previous fiscal year due to repayments of long-term borrowings and other factors, reducing exposure related to dependence on borrowings. - FY2018-Q1MitigatedAnnual report
「Liabilities at the end of the first quarter accounting period decreased by ¥117 million from the end of the previous fiscal year to ¥8,280 million. This was mainly due to repayments of long-term borrowings.」
The Company states that liabilities decreased by ¥117 million due to repayments of long-term borrowings, reducing exposure related to dependence on borrowings. - FY2017MitigatedAnnual report
「The Company primarily finances working capital to support the purchase of merchandise and funding for the flexible opening of new stores through borrowings from financial institutions. The balance stood at ¥7,280 million at the end of the fiscal year.」
Dependence on borrowings and on store performance and progress in opening new stores continues, but borrowings declined from ¥7,504 million in the previous period to ¥7,280 million, indicating that repayments of long-term borrowings exceeded new borrowings. - FY2017-Q3RestatedAnnual report
「Liabilities at the end of the third quarter accounting period increased by ¥69 million from the end of the previous fiscal year to ¥8,553 million.」
Liabilities stood at ¥8,553 million, up ¥69 million from the end of the previous fiscal year, indicating continued exposure to liabilities, including borrowings. - FY2017-Q2WorsenedAnnual report
「Liabilities totaled ¥8,552 million, compared with ¥8,483 million in the previous fiscal year.」
Liabilities increased by ¥69 million from the end of the previous fiscal year, and short-term borrowings of ¥400 million were also recorded, describing an increase in liability exposure associated with dependence on borrowings. - FY2017-Q1WorsenedAnnual report
「At the end of the first quarter of the current fiscal year, liabilities increased by ¥494 million from the end of the previous fiscal year to ¥8,978 million, mainly due to the drawdown of long-term borrowings.」
Liabilities increased by ¥494 million, mainly due to the drawdown of long-term borrowings, increasing the company's exposure associated with dependence on borrowings. - FY2016First statedAnnual report
「The balance at the end of the fiscal year was ¥7,504 million.」
The company primarily finances working capital and store-opening costs through borrowings. It reports borrowings of ¥7,504 million at the end of the fiscal year and identifies the risk that weaker performance at existing stores or delays in opening new stores may affect the funds available for repayment.