Interest-Bearing Debt and Rising Interest Rate Risk
First written in FY2016. 27 of 40 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-11-05.
Hiraki 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 2020: 64 of 142 companies on the "Worse" side.
87 other companies' latest entry also says "Worsened".
- FY2026Debt balance down, but debt-to-total-assets ratio rising amid higher interest ratesAnnual report
「At the end of the consolidated fiscal year ending March 2026, interest-bearing debt stood at ¥6,559 million, representing 45.5% of consolidated total assets. Although financing costs had remained low in recent years, the Company has entered an environment of rising interest rates. To mitigate the risk of future rate increases, it has included the reduction of interest-bearing debt in its medium-term management plan and is working to improve its financial position, while its basic policy is to raise funds at long-term fixed interest rates.」
Interest-bearing debt decreased from ¥6,745 million to ¥6,559 million, while the ratio to total assets rose from 45.0% to 45.5%. The possibility of additional borrowing or refinancing in an environment of rising interest rates continues to be disclosed as a risk. - 2026-05-15MitigatedRevisions to earnings forecasts
「長期借入金が87百万円、リース債務が20百万円減少し」
長期借入金とリース債務は前期末から減少した一方、支払利息は増加している。 - FY2026-H1WorsenedAnnual report
「Fixed liabilities increased by ¥792 million from the end of the previous consolidated fiscal year to ¥5,842 million. This was mainly due to an ¥802 million increase in long-term borrowings.」
Long-term borrowings increased by ¥802 million during the interim period, expanding debt exposure underlying the risk of higher interest rates. The equity ratio also declined to 40.8%. - FY2025Debt amount down, but ratio to total assets risingAnnual report
「At the end of the consolidated fiscal year ended March 2025, interest-bearing debt stood at ¥6,745 million, representing 45.0% of consolidated total assets. Although funding costs have remained low in recent years, interest rates have entered an upward phase. To mitigate future interest-rate risk, the company is working to improve its financial position by setting interest-bearing debt reduction as a target in its medium-term management plan, while raising funds at long-term fixed rates as a basic policy.」
Interest-bearing debt decreased from ¥6,958 million in the previous period to ¥6,745 million, while the ratio to total assets rose from 42.8% to 45.0%. Rising interest rates and the possibility of additional borrowing or refinancing continue to be viewed as risks. - FY2025-H1WorsenedAnnual report
「Fixed liabilities increased by ¥772 million from the end of the previous consolidated fiscal year to ¥5,972 million. This was due mainly to a ¥784 million increase in long-term borrowings.」
Long-term borrowings increased by ¥784 million during the interim period, expanding the debt exposure underlying interest-rate risk. - FY2024MitigatedAnnual report
「At the end of the consolidated fiscal year ended March 2024, interest-bearing debt stood at ¥6,958 million, representing 42.8% of consolidated total assets.」
Interest-bearing debt decreased from ¥7,119 million in the previous fiscal year to ¥6,958 million, and the ratio to total assets declined from 43.3% to 42.8%. The company continues to raise funds at long-term fixed rates and pursue its debt-reduction policy. - FY2024-Q3WorsenedAnnual report
「Fixed liabilities increased by ¥307 million from the end of the previous consolidated fiscal year to ¥5,681 million. This was due mainly to a ¥281 million increase in long-term borrowings.」
Long-term borrowings increased by ¥281 million from the end of the previous consolidated fiscal year, further expanding the debt exposure underlying interest-rate risk in the third quarter. - FY2024-Q2WorsenedAnnual report
「Fixed liabilities increased by ¥769 million from the end of the previous consolidated fiscal year to ¥6,143 million. This was due mainly to a ¥764 million increase in long-term borrowings.」
Long-term borrowings increased by ¥764 million from the end of the previous consolidated fiscal year, expanding the debt exposure underlying interest-rate risk in the interim period. - FY2024-Q1WorsenedAnnual report
「Fixed liabilities increased by ¥1,244 million from the end of the previous consolidated fiscal year to ¥6,617 million. This was due mainly to a ¥1,250 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,250 million, expanding the interest-bearing debt exposure underlying interest-rate risk in the first quarter. - FY2023Interest-bearing debt balance down, but ratio to total assets risingAnnual report
「At the end of the consolidated fiscal year ended March 2023, interest-bearing debt stood at ¥7,119 million, representing 43.3% of consolidated total assets.」
Interest-bearing debt decreased from ¥7,211 million in the previous fiscal year to ¥7,119 million, while the ratio to total assets increased from 43.1% to 43.3%. The company continues to raise funds at long-term fixed rates and pursue its debt-reduction policy. - FY2023-Q3WorsenedAnnual report
「Fixed liabilities increased by ¥280 million from the end of the previous consolidated fiscal year to ¥5,670 million. This was due mainly to a ¥242 million increase in long-term borrowings.」
Long-term borrowings increased by ¥242 million from the end of the previous consolidated fiscal year, further expanding the interest-bearing debt exposure underlying interest-rate risk in the third quarter. - FY2023-Q2WorsenedAnnual report
「Fixed liabilities increased by ¥737 million from the end of the previous consolidated fiscal year to ¥6,127 million. This was due mainly to a ¥694 million increase in long-term borrowings.」
Long-term borrowings increased by ¥694 million, expanding the interest-bearing debt exposure underlying interest-rate risk in the interim period. - FY2023-Q1WorsenedAnnual report
「Fixed liabilities increased by ¥880 million from the end of the previous consolidated fiscal year to ¥6,270 million. This was due mainly to an ¥887 million increase in long-term borrowings.」
Long-term borrowings increased by ¥887 million, expanding the interest-bearing debt exposure underlying interest-rate risk in the first quarter. - FY2022MitigatedAnnual report
「At the end of the consolidated fiscal year ended March 2022, interest-bearing debt stood at ¥7,211 million, representing 43.1% of consolidated total assets.」
Interest-bearing debt decreased from ¥7,478 million in the previous fiscal year to ¥7,211 million, and the ratio to total assets declined from 43.7% to 43.1%. The company continues to raise funds at long-term fixed rates and reduce interest-bearing debt. - FY2022-Q3WorsenedAnnual report
「This was due mainly to a ¥254 million increase in long-term borrowings.」
Long-term borrowings increased by ¥254 million from the end of the previous consolidated fiscal year, expanding the debt exposure underlying interest-rate risk. - FY2022-Q2WorsenedAnnual report
「Fixed liabilities increased by ¥744 million from the end of the previous consolidated fiscal year to ¥6,371 million. This was due mainly to a ¥740 million increase in long-term borrowings.」
Long-term borrowings increased by ¥740 million, expanding the debt exposure underlying interest-rate risk in the second quarter. - FY2022-Q1WorsenedAnnual report
「Fixed liabilities increased by ¥1,227 million from the end of the previous consolidated fiscal year to ¥6,853 million. This was due mainly to a ¥1,227 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,227 million from the end of the previous consolidated fiscal year, expanding the debt exposure underlying interest-rate risk in the first quarter. - FY2021MitigatedAnnual report
「At the end of the consolidated fiscal year ended March 2021, interest-bearing debt stood at ¥7,478 million, representing 43.7% of consolidated total assets.」
Interest-bearing debt decreased from ¥7,817 million in the previous fiscal year to ¥7,478 million, and the ratio to total assets declined from 47.0% to 43.7%. - FY2021-Q3WorsenedAnnual report
「Fixed liabilities increased by ¥338 million from the end of the previous consolidated fiscal year to ¥6,115 million. This was due mainly to a ¥311 million increase in long-term borrowings.」
Fixed liabilities increased by ¥338 million and long-term borrowings by ¥311 million, expanding interest-bearing debt exposure in the third quarter. - FY2021-Q2WorsenedAnnual report
「Fixed liabilities increased by ¥806 million from the end of the previous consolidated fiscal year to ¥6,583 million. This was due mainly to an ¥800 million increase in long-term borrowings.」
Long-term borrowings increased by ¥800 million, expanding the debt exposure underlying interest-rate risk in the second quarter. - FY2021-Q1WorsenedAnnual report
「Fixed liabilities increased by ¥1,212 million from the end of the previous consolidated fiscal year to ¥6,988 million. This was due mainly to a ¥1,211 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,211 million, expanding the interest-bearing debt exposure underlying interest-rate risk during the quarter. - FY2020MitigatedAnnual report
「At the end of the consolidated fiscal year ended March 2020, interest-bearing debt stood at ¥7,817 million, representing 47.0% of consolidated total assets. Although funding costs have remained low in recent years as a result of the Bank of Japan’s large-scale monetary easing policy, the company is working to improve its financial position by setting interest-bearing debt reduction as a target in its medium-term management plan, while raising funds at long-term fixed rates as a basic policy to mitigate future interest-rate risk.」
Interest-bearing debt decreased from ¥8,152 million in the previous fiscal year to ¥7,817 million, and the ratio to total assets declined from 48.4% to 47.0%. The company continues to reduce interest-bearing debt and raise funds at long-term fixed rates. - FY2020-Q3WorsenedAnnual report
「Fixed liabilities increased by ¥266 million from the end of the previous consolidated fiscal year to ¥6,294 million. This was due mainly to a ¥302 million increase in long-term borrowings.」
Long-term borrowings increased by ¥302 million from the end of the previous consolidated fiscal year, expanding the debt exposure underlying interest-rate risk. - FY2020-Q2WorsenedAnnual report
「Fixed liabilities increased by ¥804 million from the end of the previous consolidated fiscal year to ¥6,832 million. This was due mainly to an ¥831 million increase in long-term borrowings.」
Long-term borrowings increased by ¥831 million from the end of the previous consolidated fiscal year, expanding the debt exposure underlying interest-rate risk. - FY2020-Q1WorsenedAnnual report
「Fixed liabilities increased by ¥1,357 million from the end of the previous consolidated fiscal year to ¥7,385 million. This was due mainly to a ¥1,378 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,378 million, again expanding the interest-bearing debt exposure underlying interest-rate risk. - FY2019MitigatedAnnual report
「At the end of the consolidated fiscal year ended March 2019, interest-bearing debt stood at ¥8,152 million, representing 48.4% of consolidated total assets. To mitigate interest-rate risk, the company’s basic policy is to raise funds at long-term fixed rates and hedge interest-rate risk through interest-rate swaps.」
Interest-bearing debt decreased from ¥8,831 million in the previous fiscal year to ¥8,152 million, while the ratio to total assets declined from 51.0% to 48.4%, reducing debt exposure. - FY2019-Q3MitigatedAnnual report
「Fixed liabilities decreased by ¥132 million from the end of the previous consolidated fiscal year to ¥6,596 million. This was due mainly to a ¥72 million decrease in long-term borrowings.」
Fixed liabilities decreased by ¥132 million and long-term borrowings by ¥72 million, reducing the debt exposure underlying interest-rate risk. - FY2019-Q2WorsenedAnnual report
「Fixed liabilities increased by ¥455 million from the end of the previous consolidated fiscal year to ¥7,184 million. This was due mainly to a ¥486 million increase in long-term borrowings.」
Long-term borrowings increased by ¥486 million, expanding the debt exposure underlying interest-rate risk during the quarter. - FY2019-Q1WorsenedAnnual report
「Fixed liabilities increased by ¥955 million from the end of the previous consolidated fiscal year to ¥7,684 million. This was due mainly to a ¥969 million increase in long-term borrowings.」
Long-term borrowings increased by ¥969 million, again expanding the debt exposure underlying interest-rate risk. - FY2018MitigatedAnnual report
「At the end of the consolidated fiscal year ended March 2018, interest-bearing debt stood at ¥8,831 million, representing 51.0% of consolidated total assets. To mitigate interest-rate risk, the company’s basic policy is to raise funds at long-term fixed rates and hedge interest-rate risk through interest-rate swaps.」
Interest-bearing debt decreased from ¥10,011 million in the previous fiscal year to ¥8,831 million, while the ratio to total assets declined from 55.7% to 51.0%. - FY2018-Q3MitigatedAnnual report
「Fixed liabilities decreased by ¥549 million from the end of the previous consolidated fiscal year to ¥7,328 million. This was due mainly to a ¥492 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥492 million and fixed liabilities by ¥549 million, reducing the debt exposure underlying interest-rate risk. - FY2018-Q2WorsenedAnnual report
「Fixed liabilities increased by ¥44 million from the end of the previous consolidated fiscal year to ¥7,922 million. This was due mainly to an ¥86 million increase in long-term borrowings.」
Long-term borrowings increased by ¥86 million from the end of the previous consolidated fiscal year, expanding the debt exposure underlying interest-rate risk. - FY2018-Q1WorsenedAnnual report
「Fixed liabilities increased by ¥475 million from the end of the previous consolidated fiscal year to ¥8,354 million. This was due mainly to a ¥494 million increase in long-term borrowings.」
Long-term borrowings increased by ¥494 million from the end of the previous consolidated fiscal year, expanding the debt exposure underlying interest-rate risk. - FY2017WorsenedAnnual report
「At the end of the consolidated fiscal year ended March 2017, interest-bearing debt stood at ¥10,011 million, representing 55.7% of consolidated total assets. To mitigate interest-rate risk, the company’s basic policy is to raise funds at long-term fixed rates and hedge interest-rate risk through interest-rate swaps. However, the company may need to raise additional funds for working capital and refinancing as its business expands, and a substantial rise in market interest rates could affect its results through higher interest expense and other factors.」
Interest-bearing debt increased from ¥9,810 million in the previous fiscal year to ¥10,011 million, and the company explicitly disclosed interest-rate risk from additional funding and refinancing associated with business expansion. - FY2017-Q3WorsenedAnnual report
「Fixed liabilities increased by ¥577 million from the end of the previous consolidated fiscal year to ¥8,457 million. This was due mainly to a ¥594 million increase in long-term borrowings.」
Fixed liabilities increased by ¥577 million and long-term borrowings by ¥594 million from the end of the previous consolidated fiscal year, continuing the increase in the debt balance underlying interest-rate risk. - FY2017-Q2WorsenedAnnual report
「Fixed liabilities increased by ¥1,160 million from the end of the previous consolidated fiscal year to ¥9,040 million. This was due mainly to a ¥1,194 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,194 million from the end of the previous consolidated fiscal year, while fixed liabilities increased by ¥1,160 million, further expanding the debt exposure underlying interest-rate risk. - FY2017-Q1WorsenedAnnual report
「Fixed liabilities increased by ¥1,781 million from the end of the previous consolidated fiscal year to ¥9,661 million. This was due mainly to a ¥1,794 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,794 million, expanding the interest-bearing debt exposure underlying interest-rate risk. - FY2016First statedAnnual report
「At the end of the consolidated fiscal year ended March 2016, interest-bearing debt stood at ¥9,810 million, representing 56.6% of consolidated total assets. To mitigate interest-rate risk, the company’s basic policy is to raise funds at long-term fixed rates and hedge interest-rate risk through interest-rate swaps.」
The disclosure shows the interest-bearing debt balance and its ratio to total assets, with fixed-rate funding and interest-rate swaps used as countermeasures.