Interest-Bearing Debt and the Risk of Rising Interest Rates
First written in FY2017. 6 of 14 entries say "Mitigated", first in FY2018. Latest entry: FY2027-H1.
Hokuyu Lucky moved to the "Worse" side of this theme in 2025, 2 years after the typical company in this theme (2023).
The whole theme swung hardest in 2025: 31 of 96 companies on the "Worse" side.
40 other companies' latest entry also says "Worsened".
- FY2027-H1WorsenedAnnual report
「Interest expense 32,274 44,175」
Interest expense increased from ¥32.274 million in the first half of the previous year to ¥44.175 million, indicating a greater cost burden related to interest rates and interest-bearing debt. - 2026-10-10Otherhre-net.com
「During the current interim period, interest expense increased by ¥1.19 million from the previous interim period to ¥4.41 million, resulting in an ordinary loss.」
Interest expense reportedly increased from the same period of the previous year during the interim period of the fiscal year ending February 2027, contributing to the ordinary loss. - FY2026Decline in the interest-bearing debt ratio and rise in the interest expense ratioAnnual report
「Interest-bearing debt as a percentage of total assets was 41.3% for the fiscal year ended February 2025 and 33.6% for the fiscal year ended February 2026, while interest expense as a percentage of net sales was 0.12% for the fiscal year ended February 2025 and 0.18% for the fiscal year ended February 2026.」
Although the interest-bearing debt ratio declined, interest expense as a percentage of net sales rose from 0.12% to 0.18%, with the indicators moving in opposite directions. - FY2026-H1Increase in interest expenseAnnual report
「Interest expense 17,509 32,274」
Interest expense increased from ¥17.509 million in the same period of the previous year to ¥32.274 million. - FY2025WorsenedAnnual report
「Interest-bearing debt as a percentage of total assets was 39.1% for the fiscal year ended February 2024 and 41.3% for the fiscal year ended February 2025, while interest expense as a percentage of net sales was 0.06% for the fiscal year ended February 2024 and 0.12% for the fiscal year ended February 2025.」
The interest-bearing debt ratio rose from 39.1% to 41.3%, and the interest expense ratio rose from 0.06% to 0.12%, indicating deterioration in indicators related to interest rate risk. - FY2024MitigatedAnnual report
「Interest-bearing debt as a percentage of total assets was 39.3% for the fiscal year ended February 2023 and 39.1% for the fiscal year ended February 2024, while interest expense as a percentage of net sales was 0.06% in both years.」
The interest-bearing debt ratio decreased from 39.3% to 39.1%, while the interest expense ratio remained at 0.06%. - FY2023MitigatedAnnual report
「Interest-bearing debt as a percentage of total assets was 44.8% for the fiscal year ended February 2022 and 39.3% for the fiscal year ended February 2023, while interest expense as a percentage of net sales was 0.06% in both years.」
The interest-bearing debt ratio decreased from 44.8% to 39.3%, while the interest expense ratio remained at 0.06%. - FY2021MitigatedAnnual report
「Interest-bearing debt as a percentage of total assets was 41.3% for the fiscal year ended February 2020 and 40.2% for the fiscal year ended February 2021, while interest expense as a percentage of net sales was 0.09% and 0.07%, respectively.」
Both the interest-bearing debt ratio and the interest expense ratio decreased, indicating an improvement in the metrics reflecting exposure to the risk of higher interest rates. - FY2020MitigatedAnnual report
「Interest-bearing debt as a percentage of total assets was 46.2% for the fiscal year ended February 2019 and 41.3% for the fiscal year ended February 2020, while interest expense as a percentage of net sales was 0.10% and 0.09%, respectively.」
The interest-bearing debt ratio decreased from 46.2% to 41.3%, and the interest expense ratio decreased from 0.10% to 0.09%, indicating a decline in the metrics reflecting exposure to the risk of higher interest rates. - FY2019MitigatedAnnual report
「Interest-bearing debt as a percentage of total assets was 47.6% for the fiscal year ended February 2018 and 46.2% for the fiscal year ended February 2019, while interest expense as a percentage of net sales was 0.13% and 0.10%, respectively.」
Both the interest-bearing debt ratio and the interest expense ratio decreased from the previous year, indicating an improvement in the metrics reflecting exposure to the risk of higher interest rates. - FY2018MitigatedAnnual report
「Interest-bearing debt as a percentage of total assets was 49.4% for the fiscal year ended February 2017 and 47.6% for the fiscal year ended February 2018, while interest expense as a percentage of net sales was 0.16% and 0.13%, respectively.」
Both the interest-bearing debt ratio and the interest expense ratio decreased from the previous fiscal year, but the possibility of higher interest rates affecting performance remains. - FY2017First statedAnnual report
「The Company has a relatively high level of interest-bearing debt relative to total assets and net sales. Interest-bearing debt as a percentage of total assets was 49.3% for the fiscal year ended February 2016 and 49.4% for the fiscal year ended February 2017, while interest expense as a percentage of net sales was 0.21% and 0.16%, respectively. If interest rates are raised in the future, this may affect the Company's performance.」
The Company disclosed its interest-bearing debt ratio and interest expense ratio, identifying the impact of higher interest rates on performance as a risk.