Higher Interest Expense Due to Increased Dollar-Denominated Borrowings and Rate Hikes
First written in FY2019-Q3. 13 of 18 entries say "Worsened", first in FY2019. Latest entry: FY2026.
Macnica Holdings moved to the "Worse" side of this theme in 2025, 2 years after the typical company in this theme (2023).
The whole theme swung hardest in 2025: 31 of 96 companies on the "Worse" side.
40 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Non-operating expenses increased 81.7% from ¥4,064 million in the previous consolidated fiscal year to ¥7,387 million, mainly due to higher interest expense of ¥495 million and a ¥2,640 million increase in foreign exchange losses.」
Interest expense increased from ¥1,898 million to ¥2,393 million, while foreign exchange losses increased from ¥1,168 million to ¥3,808 million, expanding the factors such as financial expenses weighing on profit. - 2026-05-11WorsenedEarnings
「Interest expense 1,898 2,393」
Interest expense increased from ¥1,898 million in the previous fiscal year to ¥2,393 million. - FY2026-H1WorsenedAnnual report
「Interest expense 888 1,030」
Interest expense increased from ¥888 million in the same period of the previous year to ¥1,030 million, with the factor of borrowings and the interest-rate environment weighing on ordinary profit expanding again. - FY2025-H1MitigatedAnnual report
「Interest expense 1,208 888」
Interest expense declined from ¥1,208 million in the same period of the previous year to ¥888 million, easing the impact of borrowings and the interest-rate environment on profit from the previous fiscal year. - FY2024-Q3WorsenedAnnual report
「Interest expense 1,217 1,582」
Interest expense increased from ¥1,217 million in the same period of the previous year to ¥1,582 million, with the factor of borrowings and the interest-rate environment weighing on ordinary profit becoming more pronounced. - FY2024-Q2WorsenedAnnual report
「Interest expense 648 1,208」
Interest expense increased from ¥648 million in the same period of the previous year to ¥1,208 million, with the impact of borrowings and the interest-rate environment weighing on ordinary profit expanding. - FY2024-Q1WorsenedAnnual report
「Interest expense 203 681」
Interest expense increased from ¥203 million in the same period of the previous year to ¥681 million, with the impact of borrowings and the interest-rate environment weighing on ordinary profit expanding again. - FY2023-Q3WorsenedAnnual report
「Interest expense 227 1,217」
Interest expense increased from ¥227 million in the same period of the previous year to ¥1,217 million, with the impact of borrowing and interest rates weighing on profit expanding again after easing through the previous quarter. - FY2023-Q2WorsenedAnnual report
「Interest expense 150 648」
Interest expense increased from ¥150 million in the same period of the previous year to ¥648 million, with the impact of financial expenses, including foreign exchange movements and the interest-rate environment, weighing on profit again to a greater extent. - FY2023-Q1WorsenedAnnual report
「Interest expense 75 203」
Interest expense increased from ¥75 million in the same period of the previous year to ¥203 million, with the impact of financial expenses weighing on profit expanding again after easing in the previous fiscal year. - FY2022-Q3MitigatedAnnual report
「Interest expense 243 227」
Interest expense declined from ¥243 million in the same period of the previous year to ¥227 million, easing the impact of financial expenses that had weighed on ordinary profit through the previous fiscal year. - FY2021-Q3MitigatedAnnual report
「Interest expense 921 243」
Interest expense declined from ¥921 million in the same period of the previous year to ¥243 million, easing the impact of financial expenses that had weighed on ordinary profit in the previous fiscal year. - FY2021-Q1MitigatedAnnual report
「Interest expense 421 111」
Interest expense declined from ¥421 million in the same period of the previous year to ¥111 million, easing the impact of financial expenses that had weighed on ordinary profit through the previous quarter. - FY2020-Q3WorsenedAnnual report
「Ordinary profit was ¥7,711 million, down 27.3% year on year, due to higher interest expense, the recognition of equity-method investment losses, and other factors」
Interest expense was ¥921 million and equity-method investment losses were ¥669 million, with financial expenses and other items continuing to weigh on ordinary profit. - FY2020-Q2WorsenedAnnual report
「Ordinary profit was ¥4,830 million, down 35.6% year on year, due to higher interest expense, the recognition of equity-method investment losses, and other factors」
In addition to higher interest expense, the recognition of equity-method investment losses has emerged as a factor behind the decline in ordinary profit. - FY2020-Q1WorsenedAnnual report
「Ordinary profit was ¥2,049 million, down 46.9% year on year, due to higher interest expense, the recognition of equity-method investment losses, and other factors」
Higher interest expense continues to appear as a factor behind the decline in ordinary profit, while equity-method investment losses have also been identified as a new factor behind the decline. - FY2019WorsenedAnnual report
「Ordinary profit was ¥13,101 million, down 12.3% year on year, due to a ¥1,011 million foreign exchange loss arising from the settlement of foreign-currency-denominated receivables and payables, increased dollar-denominated borrowings, higher interest expense of ¥1,137 million resulting from interest-rate hikes, and other factors」
Interest expense rose to ¥1,137 million for the full year due to increased dollar-denominated borrowings and interest-rate hikes, becoming a factor behind the decline in ordinary profit. - FY2019-Q3First statedAnnual report
「Ordinary profit was ¥10,601 million, down 10.2% year on year, due to a ¥1,024 million foreign exchange loss arising from the settlement of foreign-currency-denominated receivables and payables, higher interest expense resulting from increased dollar-denominated borrowings and interest-rate hikes, and other factors」
For the first time, higher dollar-denominated borrowings and higher interest expense due to interest-rate hikes were explicitly identified as factors behind the decline in ordinary profit. Interest expense increased from ¥256 million in the same period of the previous year to ¥773 million.