Dependence on Borrowings and Rising Interest Rates
First written in FY2016. 15 of 20 entries say "Worsened", first in FY2020-Q3. Latest entry: FY2026.
The Monogatari moved to the "Worse" side of this theme in 2020, 1 year before 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 "Worsened".
- FY2026WorsenedAnnual report
「At the end of the fiscal year under review, interest-bearing debt, including bonds, borrowings and lease liabilities, stood at ¥17,424 million.」
Interest-bearing debt increased from ¥14,350 million at the end of FY2025 to ¥17,424 million. The Group also disclosed ¥3,799 million in borrowings for acquisition financing by its US subsidiary, along with financial covenants. - FY2026-H1WorsenedAnnual report
「Liabilities stood at ¥39,192 million at the end of the interim consolidated fiscal period, an increase of ¥5,530 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥1,721 million in accounts payable, ¥1,706 million in long-term borrowings, and ¥664 million in current maturities of long-term borrowings.」
Borrowing exposure increased as liabilities rose by ¥5,530 million, accompanied by increases in long-term borrowings and current maturities of long-term borrowings. - FY2025-H1MitigatedAnnual report
「Liabilities stood at ¥26,951 million at the end of the interim consolidated fiscal period, a decrease of ¥5,020 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥1,343 million in accounts payable, ¥215 million in current maturities of long-term borrowings, and ¥278 million in long-term borrowings, offset by decreases of ¥5,887 million in bonds payable following the exercise of rights attached to convertible bonds with share acquisition rights and ¥1,000 million in short-term borrowings, among other factors.」
Total liabilities decreased by ¥5,020 million, due to a ¥5,887 million decrease in bonds payable following the exercise of rights attached to convertible bonds with share acquisition rights and a ¥1,000 million decrease in short-term borrowings. - FY2024WorsenedAnnual report
「As of the end of the consolidated fiscal year, interest-bearing debt, including bonds payable, borrowings and lease liabilities, stood at ¥14,945 million.」
Interest-bearing debt increased from ¥10,337 million at the end of FY2023 to ¥14,945 million, reflecting increases in long-term and short-term borrowings. - FY2024-Q3WorsenedAnnual report
「Liabilities stood at ¥32,225 million at the end of the third quarter of the consolidated fiscal year, an increase of ¥7,169 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥3,280 million in long-term borrowings, ¥1,340 million in accounts payable, ¥1,000 million in short-term borrowings, ¥859 million in current maturities of long-term borrowings, and ¥367 million in provision for bonuses, among other factors.」
Reliance on borrowings and interest-rate exposure continued to increase, driven by increases of ¥3,280 million in long-term borrowings, ¥1,000 million in short-term borrowings, and ¥859 million in current maturities of long-term borrowings. - FY2024-Q2WorsenedAnnual report
「This was mainly due to an increase of ¥1,228 million in long-term borrowings, an increase of ¥1,200 million in accounts payable, and an increase of ¥336 million in current maturities of long-term borrowings, among other factors.」
At the end of the second quarter, long-term borrowings increased by ¥1,228 million and current maturities of long-term borrowings increased by ¥336 million, resulting in greater borrowing exposure. - FY2024-Q1WorsenedAnnual report
「This was mainly due to an increase of ¥1,575 million in long-term borrowings and an increase of ¥1,000 million in short-term borrowings, among other factors.」
Long-term and short-term borrowings increased at the end of the first quarter, reflecting greater reliance on borrowings and increased interest-rate exposure in the financial position. - FY2023MitigatedAnnual report
「As of the end of the consolidated fiscal year, interest-bearing debt, including bonds payable, borrowings and lease liabilities, stood at ¥10,337 million.」
Interest-bearing debt decreased from ¥17,055 million at the end of FY2021 to ¥10,337 million. The company also stated its policy of limiting interest-rate risk by holding most financial instruments at fixed rates. - FY2021WorsenedAnnual report
「As of the end of the consolidated fiscal year, interest-bearing debt, including bonds payable, borrowings and lease liabilities, stood at ¥17,055.794 million.」
Interest-bearing debt stood at ¥17,055.794 million at the end of FY2021, up from ¥11,547.375 million at the end of FY2020. Short-term borrowings, the issuance of convertible bonds with share acquisition rights, and the expansion of loan commitment agreements were also disclosed. - FY2021-Q3WorsenedAnnual report
「This was mainly due to an increase of ¥508.028 million in accounts payable and an increase of ¥5,849.551 million in bonds payable, partly offset by a decrease of ¥940.444 million in long-term borrowings, among other factors.」
Bonds payable increased by ¥5,849.551 million against the backdrop of the issuance of convertible bonds with share acquisition rights, reflecting an increase in interest-bearing debt and interest-rate exposure in the financial position. - FY2020WorsenedAnnual report
「At the end of the fiscal year, the balance of interest-bearing debt, including bonds, borrowings and lease obligations, was ¥11,547,375 thousand.」
The balance of interest-bearing debt increased from ¥5,199,198 thousand at the end of the previous fiscal year to ¥11,547,375 thousand. The company also described securing funds through borrowings and overdraft agreements in preparation for another spread of the infectious disease. - FY2020-Q3WorsenedAnnual report
「As preparation for a prolonged spread of the infectious disease, the company borrowed ¥5,000 million in April 2020 and has secured sufficient cash on hand.」
As preparation for a prolonged spread of the infectious disease, the company borrowed ¥5,000 million, and the expansion of its interest-bearing debt and interest rate exposure was disclosed. At the same time, the company explained that the borrowing was intended to stabilise its financial base and secure cash on hand. - FY2018RestatedAnnual report
「The Group currently obtains financing mainly through long-term borrowings at fixed interest rates, so the impact of interest rate fluctuations is limited for a certain period.」
The company continues to explain that long-term financing at fixed interest rates limits the impact of interest rate fluctuations. - FY2017MitigatedAnnual report
「The Group currently obtains financing mainly through long-term borrowings at fixed interest rates, so the impact of interest rate fluctuations is limited for a certain period.」
In response to the risks of borrowing dependence and rising interest rates, the company stated its policy of limiting the impact of interest rate fluctuations for a certain period through long-term financing at fixed interest rates. - FY2016First statedAnnual report
「If interest rates rise while the Group remains highly dependent on interest-bearing debt, meaning that interest-bearing debt accounts for a large proportion of total assets, this could affect the Group's performance.」
Interest rate risk associated with financing store construction costs, security deposits and other expenses through borrowings.