High dependence on interest-bearing debt
First written in FY2022. 7 of 10 entries say "Worsened", first in FY2025. Latest entry: 2026-08-12.
Choei moved to the "Worse" side of this theme in 2025, 4 years after the typical company in this theme (2021).
The whole theme swung hardest in 2020: 64 of 141 companies on the "Worse" side.
74 other companies' latest entry also says "Mitigated".
- 2026-08-12MitigatedFinancial results presentation
「新規借入は無く、長期借入金の返済が進み減少。」
当四半期は新規借入を行わず、長期借入金の返済が進んだと開示している。 - FY2026WorsenedAnnual report
「Fixed liabilities amounted to ¥56.025121 billion, an increase of ¥5.399602 billion from the end of the previous fiscal year. This was mainly due to an increase of ¥5.566297 billion in long-term borrowings.」
Long-term borrowings increased by ¥5.56629 billion from the end of the previous fiscal year in connection with the acquisition of the company's own properties, further increasing its dependence on interest-bearing debt. - FY2026-H1WorsenedAnnual report
「Fixed liabilities amounted to ¥52.972147 billion, an increase of ¥2.346628 billion from the end of the previous fiscal year. This was mainly due to an increase of ¥2.425442 billion in long-term borrowings.」
Long-term borrowings increased by ¥2.42544 billion from the end of the previous fiscal year in connection with the acquisition of the company's own properties, further increasing its dependence on interest-bearing debt. - FY2025WorsenedAnnual report
「In our real estate leasing business, we finance the entire purchase price when acquiring our own properties through borrowings from financial institutions. Consequently, our interest-bearing debt ratio is considerably higher than the level generally considered appropriate.」
The company continues to explicitly disclose its dependence on interest-bearing debt. Long-term borrowings increased by ¥4.591211 billion from the end of the previous fiscal year, bringing long-term borrowings, including the portion due within 1 year, to ¥48.758205 billion. - FY2024RestatedAnnual report
「In our real estate leasing business, we finance the entire purchase price when acquiring our own properties through borrowings from financial institutions. Consequently, our interest-bearing debt ratio is considerably higher than the level generally considered appropriate.」
The company reconfirms its dependence on interest-bearing debt resulting from financing the entire acquisition cost of its own properties through borrowings, as well as the impact of rising interest rates. - FY2022First statedAnnual report
「Because we finance the entire purchase price when acquiring our own properties through borrowings, our debt ratio is considerably higher than the level generally considered appropriate.」
The company describes its high debt ratio resulting from financing the entire acquisition cost of its own properties through borrowings, as well as the effects of changes in interest rates and financial conditions.