Funding Risk Arising from Financial Market Conditions
First written in FY2019. 4 of 15 entries say "Mitigated", first in FY2021. Latest entry: FY2026.
Pharma Foods International moved to the "Worse" side of this theme in 2026, 1 year after the typical company in this theme (2025).
The whole theme swung hardest in 2025: 12 of 50 companies on the "Worse" side.
6 other companies' latest entry also says "Other".
- FY2026Higher borrowings, lower cash and improved current ratioAnnual report
「Interest-bearing debt, including borrowings and lease liabilities, stood at ¥17,193 million at the end of the fiscal year. Cash and cash equivalents stood at ¥7,691 million. The current ratio was 126.1%, compared with 119.3% in the previous fiscal year.」
Although interest-bearing debt increased to ¥17,193 million and cash and cash equivalents declined to ¥7,691 million, the current ratio rose to 126.1%, and the Company continued to recognize that it had secured the necessary working capital. - 2026-06-10WorsenedEarnings presentation
「Equity ratio 35.4% 28.9% -6.5 percentage points Interest-bearing debt 12,661 17,235 +4,574 D/E ratio 1.09 1.71 +0.62 percentage points」
Interest-bearing debt and the D/E ratio increased, while the equity ratio declined. Financial indicators related to financing risk deteriorated. - FY2025-H1Coexistence of declining borrowings and cash balances with the need to secure fundingAnnual report
「The balance of interest-bearing debt, including borrowings and lease liabilities, was ¥12,456 million at the end of the interim consolidated fiscal period. Cash and cash equivalents stood at ¥11,006 million at the same date, and the Company believes that it has secured the funds it requires.」
Interest-bearing debt was ¥12,456 million and cash and cash equivalents were ¥11,006 million, both down, while the Company continues to believe that it has secured the funds it requires. - FY2024MitigatedAnnual report
「In terms of liquidity, the Company has sufficient working capital to conduct its business and has secured borrowing facilities from financial institutions that are available as needed, preparing for flexible financing. The current ratio was 117.8% (113.0% in the previous fiscal year), while the fixed ratio was 80.3% (90.4% in the previous fiscal year), and the Company believes that its financial position is sound.」
While reducing interest-bearing debt, the Company has secured borrowing facilities available as needed and disclosed a current ratio of 117.8% and a fixed ratio of 80.3%. - FY2024-Q2RestatedAnnual report
「The balance of interest-bearing debt, including borrowings and lease liabilities, was ¥19,923 million at the end of the second quarter of the current consolidated fiscal year. Cash and cash equivalents stood at ¥17,001 million at the same date, and the Company believes that it has secured the funds it requires.」
The Company disclosed interest-bearing debt of ¥19,923 million and cash and cash equivalents of ¥17,001 million, and continues to believe that it has secured the funds it requires. - FY2024-Q1RestatedAnnual report
「The balance of interest-bearing debt, including borrowings and lease liabilities, was ¥20,189 million at the end of the first quarter of the current consolidated fiscal year. Cash and cash equivalents stood at ¥17,429 million at the same date, and the Company believes that it has secured the funds it requires.」
The Company disclosed interest-bearing debt of ¥20,189 million and cash and cash equivalents of ¥17,429 million, and continues to believe that it has secured the funds it requires. - FY2023MitigatedAnnual report
「In terms of liquidity, the Company has sufficient working capital to conduct its business and has secured borrowing facilities from financial institutions that are available as needed, preparing for flexible financing. The current ratio was 113.0% (103.1% in the previous fiscal year), while the fixed ratio was 90.4% (108.1% in the previous fiscal year), and the Company believes that its financial position is sound.」
Although interest-bearing debt increased, the Company disclosed cash of ¥16,306 million, borrowing facilities and a current ratio of 113.0%, indicating that it has secured the funds it requires. - FY2023-Q2Borrowings increased while cash increasedAnnual report
「The balance of interest-bearing debt, including borrowings and lease liabilities, was ¥20,465 million at the end of the second quarter of the current consolidated fiscal year. Cash and cash equivalents stood at ¥12,976 million at the same date, and the Company believes that it has secured the funds it requires.」
Interest-bearing debt increased to ¥20,465 million, while cash and cash equivalents also increased to ¥12,976 million, and the Company continues to believe that the required funds are secured. - FY2023-Q1Increase in borrowings and establishment of additional financing capacityAnnual report
「The balance of interest-bearing debt, including borrowings and lease liabilities, was ¥18,651 million at the end of the first quarter of the current consolidated fiscal year. Cash and cash equivalents stood at ¥12,045 million at the same date, and the Company believes that it has secured the funds it requires.」
Interest-bearing debt increased from ¥16,890 million to ¥18,651 million, while the Company indicated that the required funds were secured through cash of ¥12,045 million and an additional commitment line. - FY2022Coexistence of increased borrowings and secured fundingAnnual report
「Regarding liquidity, the group has sufficient working capital for its business activities and has secured borrowing facilities available from financial institutions at any time, preparing for flexible funding. The current ratio was 103.1% (163.3% in the previous fiscal year), while the fixed ratio was 108.1% (35.6% in the previous fiscal year), and the group believes its financial position is sound.」
While continuing to believe that funding is secured through borrowing facilities, the current ratio declined from 163.3% to 103.1%, and interest-bearing debt reached ¥16,890 million. - FY2022-Q3RestatedAnnual report
「As of the end of the current third quarter, interest-bearing debt, including borrowings and lease obligations, stood at ¥14,694 million. Cash and cash equivalents stood at ¥9,545 million, and the group believes that the funds required have been secured.」
The group disclosed interest-bearing debt of ¥14,694 million and cash and cash equivalents of ¥9,545 million, and continues to believe that the funds required have been secured. - FY2022-Q2RestatedAnnual report
「As of the end of the current second quarter, interest-bearing debt, including borrowings and lease obligations, stood at ¥9,342 million. Cash and cash equivalents stood at ¥7,899 million, and the group believes that the funds required have been secured.」
The group disclosed interest-bearing debt of ¥9,342 million and cash and cash equivalents of ¥7,899 million, and continues to believe that the funds required have been secured. - FY2022-Q1MitigatedAnnual report
「As of the end of the current first quarter, interest-bearing debt, including borrowings and lease obligations, stood at ¥12,736 million. Cash and cash equivalents stood at ¥11,190 million, and the group believes that the funds required have been secured.」
The group states that the funds required have been secured, supported by cash of ¥11,190 million and funding facilities such as commitment lines. - FY2021MitigatedAnnual report
「Regarding liquidity, the group has sufficient working capital for its business activities and has secured borrowing facilities available from financial institutions at any time, preparing for flexible funding.」
The group disclosed cash and cash equivalents of ¥9,794 million and borrowing facilities available from financial institutions at any time, indicating that it is prepared for funding risks. - FY2019First statedAnnual report
「The group may be unable to raise funds promptly and on the terms it desires because of factors such as an overall deterioration in market conditions and the economy, credit contraction and a decline in the group’s creditworthiness.」
With bank borrowings as its primary funding source, the group identifies deteriorating funding terms caused by market conditions, the economy, credit contraction and declining creditworthiness as risks.