Interest-Bearing Debt Burden from Interest Rate Fluctuations
First written in FY2016. 15 of 28 entries say "Restated". Latest entry: 2026-10-30.
S&B Foods moved to the "Worse" side of this theme in 2026, 3 years after the typical company in this theme (2023).
The whole theme swung hardest in 2025: 31 of 97 companies on the "Worse" side.
43 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Cash flow to interest-bearing debt ratio (%) 4,941.3 608.2 238.9 247.8 Interest coverage ratio (times) 1.4 11.1 22.3 20.6」
Although operating cash flow increased, the cash flow to interest-bearing debt ratio rose from 238.9% to 247.8% due to an increase in borrowings, while the interest coverage ratio declined from 22.3 times to 20.6 times. - FY2026-H1WorsenedAnnual report
「This was mainly due to an increase of ¥2,967 million in borrowings and an increase of ¥1,103 million in income taxes payable, among other factors.」
The increase in borrowings at the end of the interim period increased exposure to interest-bearing debt affected by interest rate fluctuations. - FY2025MitigatedAnnual report
「Cash flow to interest-bearing debt ratio (%) 412.4 4,941.3 608.2 238.9 Interest coverage ratio (times) 17.1 1.4 11.1 22.3」
The recovery in operating cash flow and the decrease in borrowings improved the cash flow to interest-bearing debt ratio from 608.2% to 238.9% and the interest coverage ratio from 11.1 times to 22.3 times. - FY2025-H1MitigatedAnnual report
「Liabilities decreased by ¥5,002 million from the end of the previous consolidated fiscal year to ¥62,536 million. This was mainly due to decreases of ¥2,429 million in borrowings, ¥861 million in accounts payable and ¥1,026 million in accrued expenses included in “Other” under current liabilities.」
Borrowings decreased by ¥2,429 million from the end of the previous fiscal year, reducing exposure to interest-bearing debt affected by interest rate fluctuations. - FY2024MitigatedAnnual report
「Cash flow to interest-bearing debt ratio (%) 305.7 412.4 4,941.3 608.2 Interest coverage ratio (times) 23.5 17.1 1.4 11.1」
The recovery in operating cash flow and the decrease in borrowings improved the cash flow burden relative to interest-bearing debt and interest payment coverage from the previous fiscal year. - FY2024-Q3WorsenedAnnual report
「Liabilities increased by ¥5,415 million from the end of the previous consolidated fiscal year to ¥72,951 million. This was mainly due to increases of ¥2,254 million in borrowings, ¥1,015 million in income taxes payable and ¥1,000 million from the issuance of bonds, among other factors.」
Borrowings increased by ¥2,254 million from the end of the previous fiscal year, and ¥1,000 million in bonds was issued, increasing exposure to the interest-bearing debt burden arising from interest rate fluctuations. - FY2024-Q2WorsenedAnnual report
「Liabilities increased by ¥4,539 million from the end of the previous consolidated fiscal year to ¥72,076 million. This was mainly due to increases of ¥1,960 million in borrowings, ¥1,000 million from the new issuance of bonds and ¥545 million in income taxes payable, among other factors.」
Borrowings increased by ¥1,960 million at the end of the first half, and ¥1,000 million in bonds was newly issued, increasing exposure to the interest-bearing debt burden arising from interest rate fluctuations. - FY2024-Q1WorsenedAnnual report
「Liabilities increased by ¥4,024 million from the end of the previous consolidated fiscal year to ¥71,560 million. This was mainly due to an increase of ¥3,190 million in borrowings, among other factors.」
Borrowings increased by ¥3,190 million from the end of the previous fiscal year at the end of the first quarter, increasing exposure to the interest-bearing debt burden arising from interest rate fluctuations. - FY2023WorsenedAnnual report
「Cash flow to interest-bearing debt ratio (%) 4,941.3 Interest coverage ratio (times) 1.4」
Although borrowings decreased, operating cash flow declined significantly, resulting in a cash flow to interest-bearing debt ratio of 4,941.3% and an interest coverage ratio of 1.4 times. - FY2023-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the financial condition, operating results or cash flows of the Company and its consolidated subsidiaries (collectively, the "Group"), among the matters concerning the business and financial conditions described in this quarterly report, nor were there any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
It is stated that there has been no new occurrence or material change in the risk of the interest-bearing debt burden arising from interest rate fluctuations. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the financial condition, operating results or cash flows of the Company and its consolidated subsidiaries (collectively, the "Group"), among the matters concerning the business and financial conditions described in this quarterly report, nor were there any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
It is stated that there has been no new occurrence or material change in the risk of the interest-bearing debt burden arising from interest rate fluctuations. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no material changes to the occurrence of major risks that management recognizes as potentially having a material impact on the financial position, operating results or cash flows of the company and its consolidated subsidiaries, collectively referred to as the group, among the matters concerning the business and accounting situations described in this quarterly securities report, or to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It is stated that there has been no new occurrence or material change in the risk of the interest-bearing debt burden arising from interest rate fluctuations. - FY2021MitigatedAnnual report
「The company intends to continue strengthening its financial position by reducing interest-bearing debt. However, rapid and substantial interest rate fluctuations could affect the performance and financial position of the Group.」
Interest-bearing debt decreased from the end of the previous fiscal year, and interest expense also declined from ¥500 million in the previous fiscal year to ¥480 million, reducing the balance exposed to the burden of interest rate fluctuations. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year, there were no occurrences of the major risks that management recognizes as potentially having a material impact on the financial condition, operating results or cash flows of the Company and its consolidated subsidiaries (collectively, the "Group"), among the matters concerning the business and financial conditions described in this quarterly report, nor were there any material changes to the "Business and Other Risks" described in the annual securities report for the previous fiscal year.」
It is stated that there has been no new occurrence or material change in the risk of the interest-bearing debt burden arising from interest rate fluctuations. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no material changes to the occurrence of major risks that management recognizes as potentially having a material impact on the financial position, operating results or cash flows of the company and its consolidated subsidiaries, collectively referred to as the group, among the matters concerning the business and accounting situations described in this quarterly securities report, or to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It is stated that there has been no new occurrence or material change in the risk of the interest-bearing debt burden arising from interest rate fluctuations. - FY2020-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter of the current consolidated fiscal year. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The disclosure states that there has been no new occurrence or material change in the risk of the interest-bearing debt burden due to interest rate fluctuations. - FY2020-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The disclosure states that there has been no new occurrence or material change in the risk of the interest-bearing debt burden due to interest rate fluctuations. - FY2019RestatedAnnual report
「The company intends to continue strengthening its financial position by reducing interest-bearing debt. However, rapid and substantial interest rate fluctuations could affect the performance and financial position of the Group.」
Alongside the policy of reducing interest-bearing debt, the risk of exposure to rapid and significant interest rate fluctuations remains. - FY2019-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The disclosure states that there has been no new occurrence or material change in the risk of the interest-bearing debt burden due to interest rate fluctuations. - FY2019-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The disclosure states that there has been no new occurrence or material change in the risk of the interest-bearing debt burden due to interest rate fluctuations. - FY2019-Q1RestatedAnnual report
「During the cumulative first quarter of the fiscal year, no new business or other risks arose. There were also no significant changes to the business and other risks described in the securities report for the previous fiscal year.」
The disclosure states that there has been no new occurrence or material change in the risk of the interest-bearing debt burden due to interest rate fluctuations. - FY2018RestatedAnnual report
「The company intends to continue strengthening its financial position by reducing interest-bearing debt. However, rapid and substantial interest rate fluctuations could affect the performance and financial position of the Group.」
Alongside the policy of reducing interest-bearing debt, the risk of exposure to rapid and significant interest rate fluctuations remains. - FY2018-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter of the current consolidated fiscal year. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The disclosure states that there has been no new occurrence or material change in the risk of the interest-bearing debt burden due to interest rate fluctuations. - FY2017RestatedAnnual report
「The company intends to continue strengthening its financial position by reducing interest-bearing debt. However, rapid and substantial interest rate fluctuations could affect the performance and financial position of the Group.」
Although interest-bearing debt has been reduced, the burden from interest rate fluctuations continues to be identified as a risk. - FY2017-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter of the current consolidated fiscal year. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The disclosure states that there has been no new occurrence or material change in the risk of the interest-bearing debt burden due to interest rate fluctuations. - FY2016First statedAnnual report
「Significant and rapid changes in interest rates could affect the Group's operating results and financial position.」
Interest-bearing debt totaled ¥37,806 million, representing 36.1% of total debt. The Group also hedges through interest rate swaps and other instruments.