Dependence on Interest-Bearing Debt and Interest-Rate Risk
First written in FY2017. 20 of 36 entries say "Mitigated", first in FY2019-Q1. Latest entry: FY2027-H1.
j-Group Holdings Corp. moved to the "Worse" side of this theme in 2019, 2 years before the typical company in this theme (2021).
The whole theme swung hardest in 2017: 26 of 105 companies on the "Worse" side.
83 other companies' latest entry also says "Mitigated".
- FY2027-H1MitigatedAnnual report
「Non-current liabilities decreased by ¥295 million from the end of the previous consolidated fiscal year to ¥6,779 million. The main factor was a decrease of ¥302 million in long-term borrowings, among others.」
Long-term borrowings decreased by ¥302 million, while non-current liabilities also decreased by ¥295 million from the end of the previous fiscal year. Exposure to interest-bearing debt contracted in the interim period. - FY2026WorsenedAnnual report
「The Group primarily finances capital expenditures for new store openings and similar purposes through borrowings from financial institutions. As of the end of February 2026, interest-bearing debt accounted for 59.2% of total assets (interest-bearing debt of ¥6,342 million / total assets of ¥10,722 million).」
Interest-bearing debt increased from ¥5,800 million in the previous fiscal year to ¥6,342 million, while its ratio to total assets rose from 59.1% to 59.2%. - FY2026-H1MitigatedAnnual report
「Current liabilities increased by ¥192 million from the end of the previous consolidated fiscal year to ¥1,874 million. The main factors were increases of ¥66 million in accounts payable, ¥64 million in long-term borrowings due within one year and ¥55 million in consumption taxes payable, among others. Non-current liabilities increased by ¥376 million from the end of the previous consolidated fiscal year to ¥6,559 million. The main factors were an increase of ¥483 million in provision for directors' retirement benefits, despite a decrease of ¥97 million in long-term borrowings, among others.」
Long-term borrowings due within one year increased by ¥64 million, while long-term borrowings decreased by ¥97 million. No significant increase in borrowings was identified for interest-bearing debt overall, and the primary reason for the increase in non-current liabilities was the provision for directors' retirement benefits. - FY2025Increase in interest-bearing debt balance, decrease in its ratio to total assetsAnnual report
「As of the end of February 2025, interest-bearing debt accounted for 59.1% of total assets (interest-bearing debt of ¥5,800 million / total assets of ¥9,813 million).」
Interest-bearing debt increased from ¥5,586 million in the previous fiscal year to ¥5,800 million, while its ratio to total assets declined from 61.1% to 59.1%. - FY2025-H1MitigatedAnnual report
「Non-current liabilities decreased by ¥149 million from the end of the previous consolidated fiscal year to ¥5,792 million. The main factor was a decrease of ¥155 million in long-term borrowings, among others.」
Long-term borrowings decreased by ¥155 million, while non-current liabilities also decreased by ¥149 million from the end of the previous fiscal year, so exposure to interest-bearing debt continues to contract. - FY2025-Q1MitigatedAnnual report
「Non-current liabilities decreased by ¥58 million from the end of the previous consolidated fiscal year to ¥5,883 million. The main factor was a decrease of ¥54 million in long-term borrowings, among others.」
Long-term borrowings decreased by ¥54 million, while non-current liabilities also decreased by ¥58 million from the end of the previous fiscal year. Exposure to interest-bearing debt continues to contract. - FY2024MitigatedAnnual report
「As of the end of February 2024, interest-bearing debt accounted for 61.1% of total assets (interest-bearing debt of ¥5,586 million / total assets of ¥9,149 million).」
Interest-bearing debt decreased from ¥5,797 million in the previous fiscal year to ¥5,586 million, while its ratio to total assets declined from 62.2% to 61.1%. - FY2024-Q3MitigatedAnnual report
「Non-current liabilities decreased by ¥101 million from the end of the previous consolidated fiscal year to ¥6,037 million. The main factors were decreases of ¥45 million in deferred tax liabilities and ¥39 million in long-term borrowings, among others.」
Long-term borrowings decreased by ¥39 million, while non-current liabilities also decreased by ¥101 million from the end of the previous fiscal year. Exposure to interest-bearing debt continues to contract. - FY2024-Q2MitigatedAnnual report
「Current liabilities decreased by ¥449 million from the end of the previous consolidated fiscal year to ¥1,575 million. The main factors were decreases of ¥209 million in accounts payable-other, ¥116 million in long-term borrowings due within one year and ¥101 million in deposits received, among others. Non-current liabilities decreased by ¥190 million from the end of the previous consolidated fiscal year to ¥5,948 million. The main factor was a decrease of ¥131 million in long-term borrowings, among others.」
Long-term borrowings due within one year decreased by ¥116 million and long-term borrowings decreased by ¥131 million, reducing both current and non-current liabilities from the end of the previous fiscal year. - FY2024-Q1MitigatedAnnual report
「Non-current liabilities decreased by ¥19 million from the end of the previous consolidated fiscal year to ¥6,119 million. The main factor was a decrease of ¥61 million in long-term borrowings, among others.」
Long-term borrowings decreased by ¥61 million, while non-current liabilities also decreased by ¥19 million from the end of the previous fiscal year. Exposure to interest-bearing debt continues to contract. - FY2023MitigatedAnnual report
「As of the end of February 2023, interest-bearing debt accounted for 62.2% of total assets (interest-bearing debt of ¥5,797 million / total assets of ¥9,324 million).」
Interest-bearing debt decreased from ¥7,299 million in the previous fiscal year to ¥5,797 million, while its ratio to total assets declined from 67.9% to 62.2%. - FY2023-Q3MitigatedAnnual report
「Current liabilities decreased by ¥607 million from the end of the previous consolidated fiscal year to ¥2,477 million. The main factors were an increase of ¥202 million in accounts payable, decreases of ¥505 million in short-term borrowings, ¥136 million in accounts payable-other and ¥126 million in deposits received, among others. Non-current liabilities decreased by ¥517 million from the end of the previous consolidated fiscal year to ¥6,250 million. The main factor was a decrease of ¥408 million in long-term borrowings, among others.」
Short-term borrowings decreased by ¥505 million and long-term borrowings by ¥408 million, reducing both current and non-current liabilities from the end of the previous consolidated fiscal year. Exposure to interest-bearing debt declined further. - FY2023-Q2MitigatedAnnual report
「Current liabilities decreased by ¥633 million from the end of the previous consolidated fiscal year to ¥2,451 million, mainly due to a ¥505 million decrease in short-term borrowings. Non-current liabilities decreased by ¥351 million to ¥6,415 million, mainly due to a ¥296 million decrease in long-term borrowings.」
Short-term borrowings decreased by ¥505 million and long-term borrowings by ¥296 million, and both current and non-current liabilities contracted from the end of the previous consolidated fiscal year. - FY2023-Q1MitigatedAnnual report
「Current liabilities decreased by ¥492 million from the end of the previous consolidated fiscal year to ¥2,592 million, mainly due to a ¥500 million decrease in short-term borrowings. Non-current liabilities decreased by ¥180 million to ¥6,586 million, mainly due to a ¥153 million decrease in long-term borrowings.」
Short-term borrowings decreased by ¥500 million and long-term borrowings by ¥153 million, and both current and non-current liabilities decreased from the end of the previous fiscal year. Interest-bearing debt exposure has contracted in the latest quarter. - FY2022MitigatedAnnual report
「As of the end of February 2022, interest-bearing debt accounted for 67.9% of total assets (interest-bearing debt of ¥7,299 million / total assets of ¥10,743 million).」
Interest-bearing debt decreased from ¥7,941 million in the previous fiscal year to ¥7,299 million, while its ratio to total assets decreased from 72.6% to 67.9%. - FY2022-Q3MitigatedAnnual report
「Non-current liabilities decreased by ¥268 million from the end of the previous consolidated fiscal year to ¥7,238 million, mainly due to a ¥176 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥176 million and non-current liabilities by ¥268 million, reducing interest-bearing debt exposure from the end of the previous consolidated fiscal year. - FY2022-Q2MitigatedAnnual report
「Non-current liabilities decreased by ¥325 million from the end of the previous consolidated fiscal year to ¥7,180 million, mainly due to a ¥266 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥266 million and non-current liabilities by ¥325 million, reducing interest-bearing debt exposure from the end of the previous consolidated fiscal year. - FY2022-Q1MitigatedAnnual report
「Current liabilities decreased by ¥228 million from the end of the previous consolidated fiscal year to ¥2,982 million, mainly due to a ¥42 million decrease in short-term borrowings. Non-current liabilities decreased by ¥107 million to ¥7,399 million, mainly due to an ¥82 million decrease in long-term borrowings.」
Short-term borrowings decreased by ¥42 million and long-term borrowings by ¥82 million, and both current and non-current liabilities decreased from the end of the previous consolidated fiscal year. Interest-bearing debt exposure contracted in the latest quarter. - FY2021WorsenedAnnual report
「As of the end of February 2021, interest-bearing debt accounted for 72.6% of total assets (interest-bearing debt of ¥7,941 million / total assets of ¥10,931 million).」
Interest-bearing debt stood at ¥7,941 million, or 72.6% of total assets, up from ¥6,119 million and 53.2%, respectively, in the previous fiscal year. - FY2021-Q3WorsenedAnnual report
「Current liabilities increased by ¥796 million from the end of the previous consolidated fiscal year to ¥3,503 million, mainly due to a ¥571 million increase in short-term borrowings. Non-current liabilities increased by ¥356 million to ¥6,682 million, mainly due to a ¥506 million increase in long-term borrowings.」
Short-term borrowings increased by ¥571 million and long-term borrowings by ¥506 million, increasing both current and non-current liabilities from the end of the previous consolidated fiscal year. - FY2021-Q2WorsenedAnnual report
「Current liabilities increased by ¥660 million from the end of the previous consolidated fiscal year to ¥3,367 million, mainly due to a ¥666 million increase in short-term borrowings. Non-current liabilities increased by ¥585 million to ¥6,911 million, mainly due to a ¥715 million increase in long-term borrowings.」
Short-term borrowings increased by ¥666 million and long-term borrowings by ¥715 million, expanding liability exposure. - FY2021-Q1WorsenedAnnual report
「Current liabilities increased by ¥373 million from the end of the previous consolidated fiscal year to ¥3,080 million. The main factors included increases of ¥453 million in short-term borrowings, ¥116 million in the current portion of long-term borrowings and ¥243 million in accounts payable and accrued expenses, together with a ¥361 million decrease in accounts payable due to the suspension of operations to prevent the spread of COVID-19. Non-current liabilities increased by ¥820 million from the end of the previous consolidated fiscal year to ¥7,145 million, mainly due to an ¥874 million increase in long-term borrowings. In addition, during the current first quarter consolidated accounting period, the company raised ¥1,700 million through borrowings from financial institutions, and ¥490 million in June 2020, to secure cash on hand in preparation for unforeseen circumstances arising from the spread of COVID-19.」
Short-term borrowings increased by ¥453 million and long-term borrowings by ¥874 million, and the company additionally borrowed ¥1,700 million and ¥490 million. The increase in interest-bearing debt exposure associated with the COVID-19 response has become concrete. - FY2020WorsenedAnnual report
「As of the end of February 2020, interest-bearing debt accounted for 53.2% of total assets (interest-bearing debt of ¥6,119 million / total assets of ¥11,499 million). / Borrowings 1,700,000 thousand yen」
As of the end of February 2020, the interest-bearing debt ratio was 53.2% and the balance was ¥6,119 million, both down from 54.9% and ¥6,219 million, respectively, in the previous fiscal year. However, to prepare for the impact of COVID-19, the company agreed after the filing to borrow ¥1,700 million, resulting in additional interest-bearing debt. - FY2020-Q3WorsenedAnnual report
「Current liabilities increased by ¥153 million from the end of the previous consolidated fiscal year to ¥3,024 million. The main factors included increases of ¥88 million in accounts payable and ¥237 million in short-term borrowings, together with decreases of ¥92 million in the current portion of long-term borrowings and ¥61 million in income taxes payable. Non-current liabilities increased by ¥181 million from the end of the previous consolidated fiscal year to ¥6,322 million, mainly due to a ¥226 million increase in long-term borrowings.」
Short-term borrowings increased by ¥237 million and long-term borrowings by ¥226 million, increasing total current and non-current liabilities from the end of the previous consolidated fiscal year. This indicates greater interest-bearing debt exposure. - FY2020-Q2WorsenedAnnual report
「Non-current liabilities increased by ¥269 million from the end of the previous consolidated fiscal year to ¥6,410 million. The main factors included increases of ¥222 million in long-term borrowings and ¥30 million in bonds. / Interest rate swap valuation loss 83,852」
Non-current liabilities increased by ¥269 million due to increases in long-term borrowings and other items. In addition, a valuation loss of ¥83,852 thousand was recognized on interest rate swap contracts used to hedge the risk of rising interest rates. - FY2020-Q1Slight increase in interest-bearing debt-related balancesAnnual report
「Non-current liabilities increased by ¥131 million from the end of the previous consolidated fiscal year to ¥6,272 million. The main factor was a ¥131 million increase in long-term borrowings.」
Long-term borrowings and non-current liabilities both increased by ¥131 million from the end of the previous consolidated fiscal year. Interest-bearing debt-related balances, including short-term borrowings, increased slightly overall. - FY2019Increase in interest-bearing debt balance, decrease in its ratio to total assetsAnnual report
「As of the end of February 2019, interest-bearing debt accounted for 54.9% of total assets (interest-bearing debt of ¥6,219 million / total assets of ¥11,324 million).」
Interest-bearing debt increased from ¥4,797 million in the previous disclosure to ¥6,219 million, while its ratio to total assets decreased from 55.5% to 54.9%. - FY2019-Q3WorsenedAnnual report
「Non-current liabilities increased by ¥2,134 million from the end of the previous consolidated fiscal year to ¥5,998 million. The main factors included a ¥1,795 million increase in long-term borrowings associated with financing for new store openings and renovations and the consolidation of 株式会社ジェイアセット as a subsidiary.」
Long-term borrowings increased by ¥1,795 million in connection with new store openings, renovations and the consolidation of 株式会社ジェイアセット as a subsidiary, while non-current liabilities increased by ¥2,134 million. This indicates greater interest-bearing debt exposure. - FY2019-Q2MitigatedAnnual report
「Current liabilities decreased by ¥125 million from the end of the previous consolidated fiscal year to ¥3,210 million. The main factors included decreases of ¥313 million in short-term borrowings and ¥50 million in the current portion of long-term borrowings, together with increases of ¥106 million in accounts payable and ¥118 million in accounts payable and accrued expenses. Non-current liabilities increased by ¥27 million from the end of the previous consolidated fiscal year to ¥3,891 million, mainly due to a ¥53 million increase in long-term borrowings.」
Short-term borrowings and the current portion of long-term borrowings decreased, while long-term borrowings included in non-current liabilities increased. Overall, interest-bearing debt-related balances decreased from the end of the previous consolidated fiscal year. - FY2019-Q1MitigatedAnnual report
「Current liabilities decreased by ¥86 million from the end of the previous consolidated fiscal year to ¥3,421 million. The main factors included increases of ¥52 million in accounts payable, ¥58 million in accounts payable and accrued expenses, and ¥21 million in short-term borrowings, together with decreases of ¥37 million in the current portion of long-term borrowings and ¥13 million in the current portion of bonds. Non-current liabilities decreased by ¥233 million from the end of the previous consolidated fiscal year to ¥3,629 million, mainly due to a ¥242 million decrease in long-term borrowings.」
Short-term borrowings increased by ¥21 million, while the current portion of long-term borrowings, bonds and long-term borrowings decreased, resulting in an overall decline in interest-bearing debt-related balances. - FY2018-Q3Increase in borrowings and other debt balancesAnnual report
「Current liabilities increased by ¥877 million from the end of the previous consolidated fiscal year to ¥3,838 million. The main factors included increases of ¥422 million in short-term borrowings, ¥54 million in current portions of long-term borrowings and ¥256 million in accounts payable and accrued expenses.」
Short-term borrowings increased by ¥422 million and the current portion of long-term borrowings by ¥54 million from the end of the previous consolidated fiscal year. Although the risk section states that there were no material changes, the financial position section disclosed an increase in interest-bearing debt-related balances. - FY2017First statedAnnual report
「Our Group primarily finances capital investments for store openings and other purposes through borrowings from financial institutions. As of the end of February 2017, interest-bearing debt accounted for 55.5% of total assets (interest-bearing debt of ¥4,797 million / total assets of ¥8,642 million). For financing associated with future store openings and other activities, we plan to consider economic conditions, interest rate trends and our financial balance comprehensively, and conduct business while maintaining interest-bearing debt at an appropriate level. However, if interest rates rise while our dependence on interest-bearing debt remains high, our Group’s earnings and other matters may be affected.」
It disclosed that capital investments depend on borrowings, with an interest-bearing debt ratio of 55.5% and interest-bearing debt of ¥4,797 million, and identified the impact of rising interest rates on earnings as a risk.