Dependence on Interest-Bearing Debt and Borrowings and Liquidity
First written in FY2020. 16 of 22 entries say "Worsened", first in FY2021-Q1. Latest entry: 2026-08-12.
Landix moved to the "Worse" side of this theme in 2023, 2 years after the typical company in this theme (2021).
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
83 other companies' latest entry also says "Mitigated".
- 2026-08-12MitigatedPresentation materials for financial results
「Maintain a stable equity ratio and secure capacity to invest for future growth」
Debt decreased by ¥1.054 billion from the end of the previous fiscal year, and the equity ratio rose from 39.1% to 42.5%. Financial indicators of reliance on borrowings and liquidity risk improved from the end of the previous quarter. - FY2026WorsenedAnnual report
「This was mainly due to a ¥2,051.275 million increase in short-term borrowings accompanying the increase in inventories and other factors, despite a ¥1,163.61 million decrease in current-portion long-term borrowings. Non-current liabilities increased by ¥821.133 million from the end of the previous consolidated fiscal year to ¥3,782.164 million. This was mainly due to an ¥817.584 million increase in long-term borrowings.」
Short-term borrowings increased by ¥2,051.27 million and long-term borrowings by ¥817.58 million in line with the increase in inventories. Although current-portion long-term borrowings decreased, borrowing dependence and interest expense continued to increase. - 2026-05-12WorsenedEarnings
「This was due to a ¥2,051,275 thousand increase in short-term borrowings associated with the buildup of inventories, partly offset by a ¥1,163,610 thousand decrease in long-term borrowings due within 1 year.」
Increases in short-term and long-term borrowings continued to indicate reliance on debt and an interest burden. - FY2026-H1WorsenedAnnual report
「This was mainly due to a ¥657.22 million increase in short-term borrowings associated with purchases of real estate for sale and a ¥196.006 million increase in other current liabilities, despite a ¥1,321.753 million decrease in current-portion long-term borrowings. Non-current liabilities increased by ¥995.559 million from the end of the previous consolidated fiscal year to ¥3,956.59 million. This was mainly due to a ¥920.863 million increase in long-term borrowings.」
Short-term borrowings increased by ¥657.22 million and long-term borrowings by ¥920.863 million. Although current-portion long-term borrowings decreased by ¥1,321.753 million, borrowing dependence continued, accompanied by increases in long-term borrowings and interest expense. - FY2025WorsenedAnnual report
「Current liabilities increased by ¥5,722.21 million from the end of the previous consolidated fiscal year to ¥10,487.25 million. This was mainly due to increases of ¥2,843.722 million in short-term borrowings and ¥2,341.873 million in current-portion long-term borrowings associated with increased inventories and other factors.」
Short-term borrowings increased by ¥2,843.722 million and current-portion long-term borrowings by ¥2,341.873 million in line with the increase in inventories. Cash flow from operating activities was an outflow of ¥3,408.382 million, expanding short-term repayment obligations and borrowing dependence. - FY2025-H1WorsenedAnnual report
「This was mainly due to increases of ¥847.917 million in short-term borrowings associated with purchases of real estate for sale, ¥1,648.079 million in current-portion long-term borrowings transferred from long-term borrowings for purchases of income-producing real estate, and ¥405.342 million in accounts payable included in other current liabilities. Non-current liabilities decreased by ¥798.135 million from the end of the previous consolidated fiscal year to ¥2,576.102 million. This was mainly due to an ¥801.704 million decrease in long-term borrowings.」
Short-term borrowings increased by ¥847.917 million and current-portion long-term borrowings by ¥1,648.079 million in line with purchases of real estate for sale. Although long-term borrowings decreased by ¥801.704 million, current liabilities and short-term repayment obligations expanded, while funds provided by financing activities amounted to ¥1,452.498 million. - FY2024WorsenedAnnual report
「Non-current liabilities increased by ¥1,517.268 million from the end of the previous consolidated fiscal year to ¥3,374.238 million. This was mainly due to a ¥1,505.011 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,505.011 million, against a backdrop of increased inventories and other factors, while interest expense increased by 27.4% year on year to ¥94.864 million. Dependence on interest-bearing debt and exposure to interest costs expanded. - FY2024-Q3WorsenedAnnual report
「This was mainly due to increases of ¥176.391 million in current-portion long-term borrowings and ¥1,207.91 million in short-term borrowings accompanying the increase in purchases of real estate for sale, while income taxes payable decreased by ¥246.805 million and accounts payable included in other current liabilities decreased by ¥273.091 million. Non-current liabilities increased by ¥878.833 million from the end of the previous consolidated fiscal year to ¥2,735.803 million. This was mainly due to an ¥880.965 million increase in long-term borrowings.」
Short-term borrowings increased by ¥1,207.91 million, current-portion long-term borrowings by ¥176.391 million and long-term borrowings by ¥880.965 million in line with the increase in purchases of real estate for sale. Borrowing dependence and liquidity exposure expanded from the end of the previous fiscal year. - FY2024-Q2WorsenedAnnual report
「Current liabilities decreased by ¥386.521 million from the end of the previous consolidated fiscal year to ¥5,110.335 million. This was mainly due to decreases of ¥454.835 million in accounts payable included in other current liabilities, ¥49.88 million in contract liabilities and ¥49.165 million in consumption tax payable, despite a ¥189.237 million increase in current-portion long-term borrowings. Non-current liabilities increased by ¥198.673 million from the end of the previous consolidated fiscal year to ¥2,055.644 million. This was mainly due to a ¥201.224 million increase in long-term borrowings.」
Although total current liabilities decreased, current-portion long-term borrowings increased by ¥189.237 million and long-term borrowings by ¥201.224 million, expanding the balance of borrowings and borrowing-dependence exposure from the end of the previous fiscal year. - FY2024-Q1WorsenedAnnual report
「This was mainly due to increases of ¥167.9 million from drawdowns of short-term borrowings associated with purchases of real estate for sale and ¥88.992 million from transfers to current-portion borrowings, while income taxes payable decreased by ¥105.342 million and accounts payable included in other current liabilities decreased by ¥341.82 million. Non-current liabilities increased by ¥77.45 million from the end of the previous consolidated fiscal year to ¥1,934.421 million. This was mainly due to an ¥80.754 million increase in long-term borrowings.」
Short-term borrowings, current-portion long-term borrowings and long-term borrowings increased in line with purchases of real estate for sale, expanding borrowing-dependence exposure. No occurrence of rising interest rates or cash-flow problems itself was disclosed. - FY2023WorsenedAnnual report
「The main factors increasing funds were a net increase of ¥156.19 million in short-term borrowings associated with purchases of inventories and a ¥626.3 million increase in long-term borrowings. Current liabilities increased by ¥186.724 million from the end of the previous consolidated fiscal year to ¥5,496.856 million. This was mainly due to a ¥156.19 million increase in short-term borrowings accompanying purchases of inventories.」
Short-term borrowings increased by ¥156.19 million in line with purchases of inventories, while long-term borrowings also increased by ¥44.478 million based on the period-end balance. In addition, a ¥1,000 million special overdraft facility was established, of which ¥325.2 million was drawn. - FY2023-Q3WorsenedAnnual report
「Current liabilities increased by ¥747.473 million from the end of the previous consolidated fiscal year to ¥6,057.606 million. This was mainly due to a ¥701.587 million increase in short-term borrowings accompanying the increase in purchases of real estate for sale. Non-current liabilities increased by ¥79.411 million from the end of the previous consolidated fiscal year to ¥1,889.874 million. This was mainly due to a ¥77.546 million increase in long-term borrowings.」
Short-term borrowings increased by ¥701.587 million and long-term borrowings by ¥77.546 million in line with the increase in purchases of real estate for sale, expanding borrowing dependence and liquidity exposure. - FY2023-Q2MitigatedAnnual report
「This was mainly due to a ¥404.31 million decrease in short-term borrowings related to purchases of real estate for sale, following repayments from sales, while current-portion long-term borrowings increased by ¥342.109 million. Non-current liabilities increased by ¥16.622 million from the end of the previous consolidated fiscal year to ¥1,827.085 million. This was mainly due to a ¥15.027 million increase in long-term borrowings.」
Short-term borrowings decreased by ¥404.31 million through repayments following sales, while current-portion long-term borrowings and long-term borrowings increased. The borrowing mix shifted toward longer maturities, but total borrowings decreased slightly from the beginning of the period. - FY2023-Q1MitigatedAnnual report
「This was mainly due to a ¥970.68 million decrease in short-term borrowings related to purchases of real estate for sale, following repayments from sales. Non-current liabilities increased by ¥307.523 million from the end of the previous consolidated fiscal year to ¥2,117.987 million. This was mainly due to a ¥307.688 million increase in long-term borrowings.」
Short-term borrowings decreased by ¥970.68 million, while long-term borrowings increased by ¥307.688 million. Total borrowings decreased, and borrowing-dependence exposure contracted overall as short-term borrowings were repaid following sales. - FY2022-Q3WorsenedAnnual report
「Current liabilities increased by ¥2,070.5 million from the end of the previous consolidated fiscal year to ¥5,124.338 million. This was mainly due to a ¥1,442.836 million increase in short-term borrowings accompanying the increase in purchases of real estate for sale, and a ¥347.658 million increase in income taxes payable. Non-current liabilities increased by ¥193.717 million from the end of the previous consolidated fiscal year to ¥1,341.048 million. This was mainly due to a ¥210.015 million increase in long-term borrowings.」
Short-term borrowings increased by ¥1,442.836 million and long-term borrowings by ¥210.015 million in line with the increase in purchases of real estate for sale, expanding borrowing-dependence exposure. No increase in interest rates or cash-flow problems was disclosed. - FY2022-Q2WorsenedAnnual report
「Current liabilities increased by ¥851.777 million from the end of the previous consolidated fiscal year to ¥3,905.616 million. This was mainly due to increases of ¥351.286 million in short-term borrowings and ¥329.527 million in income taxes payable. Non-current liabilities increased by ¥67.346 million from the end of the previous consolidated fiscal year to ¥1,214.678 million. This was mainly due to an ¥84.578 million increase in long-term borrowings.」
Short-term borrowings increased by ¥351.286 million and long-term borrowings by ¥84.578 million, expanding the balance of borrowings and borrowing-dependence exposure from the end of the previous fiscal year. There is no disclosure of rising interest rates or cash-flow problems. - FY2022-Q1MitigatedAnnual report
「This was mainly due to a ¥156.589 million increase in income taxes payable and a ¥735.5 million decrease in short-term borrowings. Non-current liabilities decreased by ¥24.809 million from the end of the previous consolidated fiscal year to ¥1,122.521 million. This was mainly due to a ¥24.475 million decrease in long-term borrowings.」
Short-term borrowings decreased by ¥735.5 million and long-term borrowings by ¥24.475 million, reducing the balance of borrowings and liquidity exposure from the end of the previous fiscal year. - FY2021WorsenedAnnual report
「This was mainly due to an increase of ¥836.199 million in short-term borrowings associated with inventory purchases.」
Short-term borrowings increased by ¥836.199 million as purchases of property held for sale expanded, increasing reliance on borrowings and liquidity exposure. - FY2021-Q3WorsenedAnnual report
「This was due to a ¥506.899 million increase in short-term borrowings associated with an increase in inventories, specifically property held for sale.」
Short-term borrowings increased by ¥506.899 million as property held for sale increased. Although long-term borrowings decreased by ¥59.607 million, reliance on borrowings, particularly short-term borrowings, expanded. - FY2021-Q2MitigatedAnnual report
「Current liabilities were ¥1,793 million, a decrease of ¥663 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥444 million decrease in short-term borrowings. Non-current liabilities were ¥1,182 million, a decrease of ¥43.795 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥41.893 million decrease in long-term borrowings.」
Both short-term and long-term borrowings decreased from the end of the previous consolidated fiscal year, reducing the borrowing balance and liquidity exposure. There was no disclosure that higher interest rates or cash management problems had occurred. - FY2021-Q1WorsenedAnnual report
「This was mainly due to an increase of ¥526.900 million in short-term borrowings and a decrease of ¥233.561 million in accrued corporate income taxes and other taxes.」
Short-term borrowings increased by ¥526.900 million, expanding the short-term borrowing balance within a structure that finances property acquisitions and other activities through borrowings. There was no disclosure that higher interest rates or cash management problems had actually occurred. - FY2020First statedAnnual report
「The Group finances funds for property acquisitions, construction and other business activities through borrowings from financial institutions. If market interest rates rise, higher interest expenses and other factors may affect the Group's operating results and financial position.」
The disclosure covered the Group's reliance on bank borrowings to finance property acquisitions and the potential impact on cash management from higher interest rates and delays in property sales.