Risk from Reliance on Interest-Bearing Debt, Interest Rates and Lending Stance
First written in FY2016. 32 of 37 entries say "Worsened", first in FY2017-Q2. Latest entry: 2026-08-13.
Komehyo Holdings moved to the "Worse" side of this theme in 2016, 5 years before the typical company in this theme (2021).
The whole theme swung hardest in 2017: 26 of 105 companies on the "Worse" side.
81 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「The balance of interest-bearing debt at the end of the current consolidated fiscal year was ¥59,930 million. …The equity ratio was 34.2% (37.0% at the end of the previous consolidated fiscal year).」
Interest-bearing debt increased to approximately ¥59.9 billion, while the equity ratio declined from 37.0% to 34.2%, expanding exposure to reliance on borrowings. - FY2026-H1WorsenedAnnual report
「Total liabilities at the end of the interim consolidated accounting period were ¥64,302 million, an increase of ¥8,875 million from the end of the previous consolidated fiscal year. This was mainly because increases of ¥1,256 million in accounts payable, ¥8,002 million in short-term borrowings, ¥201 million in accounts payable and other payables, ¥97 million in contract liabilities (current liabilities), ¥94 million in provision for bonuses, and ¥111 million in asset retirement obligations exceeded decreases of ¥655 million in long-term borrowings and ¥328 million in other current liabilities (consumption taxes payable and other items). …As a result, the equity ratio was 33.4% (37.0% at the end of the previous consolidated fiscal year).」
Short-term borrowings increased by ¥8,002 million, total liabilities increased by ¥8,875 million, and the equity ratio declined from 37.0% to 33.4%. Exposure to reliance on interest-bearing debt has expanded further. - FY2025-H1WorsenedAnnual report
「Total liabilities at the end of the interim consolidated accounting period were ¥43,794 million, an increase of ¥8,524 million from the end of the previous consolidated fiscal year. This was mainly because increases of ¥9,292 million in short-term borrowings, ¥152 million in long-term borrowings, and lease liabilities and other items exceeded the ¥2,478 million decrease in current portion of long-term borrowings. …As a result, the equity ratio was 40.9% (44.4% at the end of the previous consolidated fiscal year).」
Total liabilities increased by ¥8,524 million due to increases in short-term borrowings and other items, while the equity ratio declined from 44.4% to 40.9%, expanding exposure to reliance on interest-bearing debt. - FY2024-Q3WorsenedAnnual report
「Total liabilities at the end of the third quarter of the current consolidated fiscal year were ¥38,116 million, an increase of ¥15,610 million from the end of the previous consolidated fiscal year. This was mainly because increases of ¥195 million in accounts payable, ¥13,639 million in short-term borrowings, ¥2,423 million in current portion of long-term borrowings, ¥187 million in accounts payable and other payables, and ¥318 million in other current liabilities (deposits received and other items) exceeded decreases of ¥455 million in provision for bonuses and ¥740 million in long-term borrowings. …The equity ratio was 41.4% (51.2% at the end of the previous consolidated fiscal year).」
Total liabilities increased by ¥15,610 million due mainly to the ¥13,639 million increase in short-term borrowings, while the equity ratio declined from 51.2% to 41.4%. - FY2024-Q2WorsenedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year were ¥31,855 million, an increase of ¥9,349 million from the end of the previous consolidated fiscal year. This was mainly because increases of ¥292 million in accounts payable, ¥8,367 million in short-term borrowings, ¥2,450 million in current portion of long-term borrowings, ¥127 million in lease liabilities (current), ¥435 million in accounts payable and other payables, ¥177 million in other current liabilities (deposits received), and ¥136 million in lease liabilities (non-current) exceeded the ¥2,650 million decrease in long-term borrowings. …As a result, the equity ratio was 44.7% (51.2% at the end of the previous consolidated fiscal year).」
Liabilities increased by ¥9,349 million due to increases of ¥8,367 million in short-term borrowings and ¥2,450 million in current portion of long-term borrowings, while the equity ratio declined from 51.2% to 44.7%. - FY2024-Q1WorsenedAnnual report
「Total liabilities at the end of the first quarter of the current consolidated fiscal year were ¥26,337 million, an increase of ¥3,830 million from the end of the previous consolidated fiscal year. This was because increases of ¥4,032 million in short-term borrowings and ¥2,475 million in current portion of long-term borrowings exceeded the ¥2,600 million decrease in long-term borrowings. …The equity ratio was 48.2% (51.2% at the end of the previous consolidated fiscal year).」
Total liabilities increased by ¥3,830 million due to increases of ¥4,032 million in short-term borrowings and ¥2,475 million in current portion of long-term borrowings, while the equity ratio declined from 51.2% to 48.2%. - FY2023WorsenedAnnual report
「The balance of interest-bearing debt was ¥16,498 million at the end of the current consolidated fiscal year.」
Interest-bearing debt increased from ¥14,553 million at the end of the previous fiscal year to ¥16,498 million. Short-term borrowings also reached ¥12,515 million, expanding exposure to reliance on borrowings. - FY2023-Q3WorsenedAnnual report
「Total liabilities at the end of the third quarter of the current consolidated fiscal year were ¥24,967 million, an increase of ¥6,000 million from the end of the previous consolidated fiscal year. This was mainly because the ¥7,091 million increase in short-term borrowings exceeded decreases of ¥611 million in current portion of long-term borrowings, ¥240 million in provision for bonuses, and ¥266 million in long-term borrowings. As a result, the equity ratio was 47.8% (51.5% at the end of the previous consolidated fiscal year).」
Short-term borrowings increased by ¥7,091 million, driving a ¥6,000 million increase in total liabilities. The equity ratio also declined from 51.5% to 47.8%, expanding exposure to reliance on interest-bearing debt. - FY2023-Q2WorsenedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year were ¥23,154 million, an increase of ¥4,187 million from the end of the previous consolidated fiscal year. This was mainly because the ¥5,115 million increase in short-term borrowings exceeded decreases of ¥322 million in current portion of long-term borrowings, ¥169 million in accounts payable and other payables, and ¥407 million in income taxes payable. / As a result, the equity ratio was 48.1% (51.5% at the end of the previous consolidated fiscal year).」
Short-term borrowings increased by ¥5,115 million, driving a ¥4,187 million increase in total liabilities. The equity ratio also declined from 51.5% to 48.1%, expanding exposure to reliance on interest-bearing debt. - FY2023-Q1WorsenedAnnual report
「Total liabilities at the end of the first quarter of the current consolidated fiscal year were ¥23,057 million, an increase of ¥4,090 million from the end of the previous consolidated fiscal year. This was because the ¥5,220 million increase in short-term borrowings exceeded decreases of ¥125 million in long-term borrowings, ¥283 million in accounts payable and other payables, and ¥709 million in income taxes payable. / As a result, the equity ratio was 47.2% (51.5% at the end of the previous consolidated fiscal year).」
Short-term borrowings increased by ¥5,220 million, driving a ¥4,090 million increase in total liabilities. The equity ratio also declined from 51.5% to 47.2%, expanding exposure to reliance on interest-bearing debt. - FY2022-Q3Increase in short-term borrowings and improvement in the equity ratioAnnual report
「Total liabilities at the end of the third quarter of the current consolidated fiscal year were ¥19,350 million, an increase of ¥394 million from the end of the previous consolidated fiscal year. This was mainly because increases of ¥147 million in accounts payable, ¥985 million in short-term borrowings, ¥183 million in current portion of long-term borrowings, and ¥207 million in accounts payable and other payables exceeded decreases of ¥177 million in provision for bonuses and ¥917 million in long-term borrowings. As a result, the equity ratio was 50.2% (48.8% at the end of the previous consolidated fiscal year).」
Total liabilities increased by ¥394 million due to increases in short-term borrowings and other items, while long-term borrowings declined by ¥917 million and the equity ratio rose from 48.8% to 50.2%. - FY2022-Q2MitigatedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year were ¥18,175 million, a decrease of ¥780 million from the end of the previous consolidated fiscal year. This was mainly because decreases of ¥190 million in short-term borrowings, ¥684 million in long-term borrowings, and ¥400 million in other current liabilities (consumption taxes payable and other items) exceeded increases of ¥218 million in current portion of long-term borrowings, ¥114 million in lease liabilities (current liabilities), ¥134 million in provision for bonuses, and ¥202 million in lease liabilities (non-current liabilities). As a result, the equity ratio was 50.7% (48.8% at the end of the previous consolidated fiscal year).」
Total liabilities decreased by ¥780 million, mainly due to decreases of ¥190 million in short-term borrowings and ¥684 million in long-term borrowings, while the equity ratio rose from 48.8% to 50.7%. - FY2022-Q1MitigatedAnnual report
「Total liabilities at the end of the first quarter of the current consolidated fiscal year were ¥17,644 million, a decrease of ¥1,311 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥520 million in short-term borrowings, ¥293 million in income taxes payable, ¥248 million in long-term borrowings, and ¥312 million in other current liabilities (consumption taxes payable and other items). As a result, the equity ratio was 50.9% (48.8% at the end of the previous consolidated fiscal year).」
Total liabilities decreased by ¥1,311 million as short-term borrowings declined by ¥520 million and long-term borrowings by ¥248 million, while the equity ratio rose from 48.8% to 50.9%. - FY2021WorsenedAnnual report
「The balance of interest-bearing debt, comprising borrowings and bonds, was ¥14,553 million at the end of the current consolidated fiscal year.」
Interest-bearing debt increased from ¥12,746 million at the end of the previous fiscal year to ¥14,553 million, expanding exposure to reliance on borrowings and bonds. - FY2021-Q3WorsenedAnnual report
「Total liabilities at the end of the third quarter of the current consolidated fiscal year were ¥20,672 million, an increase of ¥4,250 million from the end of the previous consolidated fiscal year. This was mainly because increases of ¥2,289 million in short-term borrowings, ¥499 million in other current liabilities (consumption taxes payable and other items), and ¥1,846 million in long-term borrowings exceeded decreases of ¥104 million in lease liabilities (current liabilities), ¥171 million in provision for bonuses, and ¥107 million in lease liabilities (non-current liabilities).」
Total liabilities increased by ¥4,250 million from the end of the previous fiscal year as short-term borrowings rose by ¥2,289 million and long-term borrowings by ¥1,846 million, expanding exposure to reliance on interest-bearing debt. The equity ratio declined from 53.3% to 46.5%. - quantified: true, materialized: true - FY2021-Q2WorsenedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year were ¥20,803 million, an increase of ¥4,381 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥2,389 million in short-term borrowings and ¥2,113 million in long-term borrowings.」
Total liabilities increased by ¥4,381 million from the end of the previous fiscal year as short-term borrowings rose by ¥2,389 million and long-term borrowings by ¥2,113 million, while the equity ratio declined from 53.3% to 45.4%. - FY2021-Q1WorsenedAnnual report
「Total liabilities at the end of the first quarter of the current consolidated fiscal year were ¥20,971 million, an increase of ¥4,550 million from the end of the previous consolidated fiscal year. This was mainly because increases of ¥2,489 million in short-term borrowings and ¥2,299 million in long-term borrowings exceeded the ¥124 million decrease in income taxes payable.」
Total liabilities increased by ¥4,550 million from the end of the previous fiscal year as short-term borrowings rose by ¥2,489 million and long-term borrowings by ¥2,299 million, expanding exposure to reliance on interest-bearing debt. - FY2020WorsenedAnnual report
「At the end of the current consolidated fiscal year, the balance of interest-bearing debt comprising borrowings and bonds was ¥12,746 million.」
Interest-bearing debt increased from ¥7,404 million at the end of the previous fiscal year to ¥12,746 million, expanding exposure to reliance on borrowings, including M&A. - FY2020-Q3WorsenedAnnual report
「At the end of the third quarter of the current consolidated fiscal year, total liabilities were ¥19,144 million, an increase of ¥8,437 million from the end of the previous consolidated fiscal year. This was mainly because increases in accounts payable of ¥245 million, short-term borrowings of ¥8,023 million, other payables of ¥291 million, other current liabilities, including lease liabilities, of ¥442 million, and asset retirement obligations in non-current liabilities of ¥219 million, resulting from the inclusion of 株式会社Ｋ－ブランドオフ and its 2 consolidated subsidiaries in the group, exceeded decreases of ¥155 million in the provision for bonuses and ¥612 million in long-term borrowings.」
The inclusion of 株式会社Ｋ－ブランドオフ and other companies in the group resulted in an ¥8,023 million increase in short-term borrowings, and total liabilities also increased by ¥8,437 million from the end of the previous fiscal year. - FY2020-Q2WorsenedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, total liabilities were ¥12,759 million, an increase of ¥2,052 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥1,780 million in short-term borrowings.」
Short-term borrowings increased by ¥1,780 million, and total liabilities also increased by ¥2,052 million from the end of the previous fiscal year, further expanding exposure to dependence on interest-bearing debt. - FY2020-Q1WorsenedAnnual report
「At the end of the first quarter of the current consolidated fiscal year, total liabilities were ¥12,253 million, an increase of ¥1,546 million from the end of the previous consolidated fiscal year. This was mainly because the ¥1,800 million increase in short-term borrowings exceeded the ¥309 million decrease in income taxes payable.」
Short-term borrowings increased by ¥1,800 million, and total liabilities also increased by ¥1,546 million from the end of the previous fiscal year, expanding exposure to dependence on interest-bearing debt. - FY2019WorsenedAnnual report
「At the end of the current consolidated fiscal year, the balance of interest-bearing debt comprising borrowings and bonds was ¥7,404 million.」
The balance of interest-bearing debt increased from ¥5,108 million at the end of the previous fiscal year to ¥7,404 million, expanding exposure to dependence on borrowings and bonds. - FY2019-Q3WorsenedAnnual report
「Total liabilities were ¥13,633 million, an increase of ¥5,404 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥3,310 million in short-term borrowings, ¥314 million in the current portion of long-term borrowings, ¥428 million in bonds and ¥1,144 million in long-term borrowings.」
In addition to short- and long-term borrowings, bonds also increased, and total liabilities rose by ¥5,404 million from the end of the previous fiscal year, further expanding exposure to dependence on interest-bearing debt. - FY2019-Q2WorsenedAnnual report
「Total liabilities were ¥10,044 million, an increase of ¥1,815 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥1,800 million in short-term borrowings.」
Short-term borrowings increased by ¥1,800 million, and total liabilities also increased by ¥1,815 million from the end of the previous consolidated fiscal year, expanding exposure to dependence on interest-bearing debt. - FY2019-Q1WorsenedAnnual report
「Total liabilities were ¥8,938 million, an increase of ¥708 million from the end of the previous consolidated fiscal year. This was mainly because the ¥1,100 million increase in short-term borrowings exceeded decreases of ¥277 million in income taxes payable and ¥150 million in long-term borrowings.」
Short-term borrowings increased by ¥1,100 million, exceeding the decrease in long-term borrowings, and expanding exposure to dependence on borrowings from the end of the previous consolidated fiscal year. - FY2018WorsenedAnnual report
「At the end of the current consolidated fiscal year, the balance of interest-bearing debt, including borrowings and lease liabilities, was ¥5,108 million.」
The balance of interest-bearing debt increased from ¥4,484 million at the end of the previous fiscal year to ¥5,108 million, expanding exposure to dependence on borrowings at the fiscal year-end as well. - FY2018-Q3WorsenedAnnual report
「Short-term borrowings 1,650,000 4,530,000 Current portion of long-term borrowings 496,844 608,382 Long-term borrowings 2,245,866 2,379,311」
Short-term borrowings increased from ¥1,650 million to ¥4,530 million from the end of the previous consolidated fiscal year, and total borrowings, including the current portion of long-term borrowings, also increased. Exposure to dependence on interest-bearing debt expanded further. - FY2018-Q2WorsenedAnnual report
「Short-term borrowings 1,650,000 3,600,000 Current portion of long-term borrowings 496,844 476,286 Long-term borrowings 2,245,866 2,100,637」
Short-term borrowings increased from ¥1,650 million to ¥3,600 million from the end of the previous consolidated fiscal year, further expanding exposure to dependence on borrowings. - FY2018-Q1WorsenedAnnual report
「Short-term borrowings 1,650,000 3,200,000 Current portion of long-term borrowings 496,844 467,997 Long-term borrowings 2,245,866 2,114,473」
Short-term borrowings increased from ¥1,650 million to ¥3,200 million from the end of the previous consolidated fiscal year. Total borrowings, including the current portion of long-term borrowings, increased overall, expanding exposure to dependence on interest-bearing debt. - FY2017WorsenedAnnual report
「The principal components of liabilities were short- and long-term borrowings of ¥4,392 million, accounts payable of ¥639 million, other payables of ¥501 million and provision for bonuses of ¥374 million.」
Short- and long-term borrowings totalled ¥4,392 million, increasing the balance of interest-bearing debt from the end of the previous fiscal year. - FY2017-Q3WorsenedAnnual report
「Long-term borrowings 210,487 2,252,797」
Long-term borrowings increased from ¥210.487 million at the end of the previous consolidated fiscal year to ¥2,252.797 million, and the balance of interest-bearing debt, including short-term borrowings, also increased. - FY2017-Q2WorsenedAnnual report
「This was mainly because the net increase in short-term borrowings of ¥350 million and proceeds from long-term borrowings of ¥2,100 million exceeded repayments of long-term borrowings of ¥199 million and dividend payments of ¥164 million.」
Interest-bearing debt increased from the end of the previous consolidated fiscal year, due to a net increase of ¥350 million in short-term borrowings and ¥2,100 million in proceeds from long-term borrowings. - FY2016First statedAnnual report
「Because the costs of opening and renovating stores as part of the expansion of our business are financed mainly through borrowings from financial institutions, our group's dependence on interest-bearing debt may remain at a relatively high level depending on future store openings and product procurement.」
Dependence on borrowings to finance store openings and product procurement, as well as changes in interest rates and financial institutions' lending policies, are identified as risks.