Reliance on Interest-Bearing Debt and Financing Risk
First written in FY2016. 12 of 25 entries say "Worsened", first in FY2018. Latest entry: FY2025.
Happiness and D moved to the "Worse" side of this theme in 2018, 3 years 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".
- FY2025WorsenedAnnual report
「・Reliance on interest-bearing debt is high (interest-bearing debt of ¥3,966 million as of the end of August 2025, representing 70.2% of total assets」
Interest-bearing debt declined from ¥4,264 million in the previous fiscal year to ¥3,966 million, while the ratio to total assets rose from 60.4% to 70.2%, clearly identifying reliance on borrowings as a significant risk. - FY2025-H1MitigatedAnnual report
「The balance of non-current liabilities was ¥2,064.794 million, a decrease of ¥697.438 million from the end of the previous consolidated fiscal year. This was mainly attributable to a ¥642.049 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥642.049 million and non-current liabilities by ¥697.438 million. Meanwhile, the current portion of long-term borrowings increased by ¥284.600 million. - FY2024MitigatedAnnual report
「Reliance on interest-bearing debt is high (interest-bearing debt of ¥4,264 million as of the end of August 2024, representing 60.4% of total assets」
Interest-bearing debt declined from ¥5,886 million in the previous fiscal year to ¥4,264 million, while the ratio to total assets decreased from 64.7% to 60.4%. - FY2024-Q3MitigatedAnnual report
「The balance of non-current liabilities was ¥2,919.362 million, a decrease of ¥1,263.952 million from the end of the previous consolidated fiscal year. This was mainly attributable to a ¥1,142.715 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥1,142.715 million and non-current liabilities by ¥1,263.952 million, reducing borrowing exposure. - FY2024-Q2MitigatedAnnual report
「The balance of non-current liabilities was ¥3,566.943 million, a decrease of ¥616.371 million from the end of the previous consolidated fiscal year. This was mainly attributable to a ¥544.701 million decrease in long-term borrowings.」
Non-current liabilities decreased by ¥616.371 million and long-term borrowings by ¥544.701 million, reducing borrowing exposure. - FY2024-Q1MitigatedAnnual report
「The balance of non-current liabilities at the end of the first quarter of the current fiscal year was ¥3,883.238 million, a decrease of ¥300.076 million from the end of the previous consolidated fiscal year. This was mainly attributable to a ¥268.137 million decrease in long-term borrowings.」
Non-current liabilities decreased by ¥300.076 million and long-term borrowings by ¥268.137 million, reducing borrowing exposure from the end of the previous consolidated fiscal year. Meanwhile, the current portion of long-term borrowings increased by ¥59.693 million. - FY2023WorsenedAnnual report
「Reliance on interest-bearing debt is high (interest-bearing debt of ¥5,886 million as of the end of August 2023, representing 64.7% of total assets」
Interest-bearing debt of ¥5,886 million and a ratio of 64.7% of total assets were disclosed, indicating increased reliance on borrowings from the previous year's ratio of 56.1%. - FY2023-Q3WorsenedAnnual report
「The main components were notes and accounts payable of ¥592.995 million, electronically recorded obligations of ¥333.990 million, the current portion of long-term borrowings of ¥1,979.551 million, and Other of ¥544.817 million. The components of non-current liabilities were long-term borrowings of ¥3,986.834 million, asset retirement obligations of ¥341.598 million, and Other of ¥333.959 million.」
The current portion of long-term borrowings was ¥1,979.551 million and long-term borrowings were ¥3,986.834 million, representing increases in borrowing balances from the ¥1,914.087 million and ¥3,675.983 million reported in the previous quarter. - FY2023-Q2Changes in the composition of borrowings and fundingAnnual report
「The main components were notes and accounts payable of ¥534.268 million, electronically recorded obligations of ¥443.896 million, the current portion of long-term borrowings of ¥1,914.087 million, and Other of ¥492.834 million. The main components were long-term borrowings of ¥3,675.983 million, asset retirement obligations of ¥364.871 million, and Other of ¥296.821 million.」
Borrowings at the end of the quarter comprised the current portion of long-term borrowings of ¥1,914.087 million and long-term borrowings of ¥3,675.983 million. During the period, long-term borrowings of ¥1.9 billion and repayments of long-term borrowings of ¥1,046.399 million were reported, indicating a change in the composition of borrowings. - FY2023-Q1WorsenedAnnual report
「(Current liabilities) The balance of current liabilities at the end of the first quarter of the current fiscal year was ¥4,792.969 million, an increase of ¥1,338.770 million from the end of the previous fiscal year. This was mainly attributable to increases of ¥626.242 million in notes and accounts payable and ¥600.000 million in short-term borrowings. (Non-current liabilities) The balance of non-current liabilities at the end of the first quarter of the current fiscal year was ¥3,787.699 million, an increase of ¥197.927 million from the end of the previous fiscal year. This was mainly attributable to a ¥181.391 million increase in long-term borrowings.」
Short-term borrowings increased by ¥600.000 million and long-term borrowings by ¥181.391 million, expanding borrowing exposure at the end of the quarter. - FY2022MitigatedAnnual report
「The interest-bearing debt ratio, defined as interest-bearing debt as a percentage of total assets, was 56.1% as of 31 August 2022. Depending on future interest-rate trends, this could affect the Company's business performance.」
The interest-bearing debt ratio declined from 61.8% in the previous fiscal year to 56.1%. Long-term borrowings also decreased by ¥860.481 million from the end of the previous fiscal year. - FY2022-Q3MitigatedAnnual report
「(Non-current liabilities) The balance of non-current liabilities at the end of the third quarter of the current fiscal year was ¥4,035.653 million, a decrease of ¥413.909 million from the end of the previous fiscal year. This was mainly attributable to a ¥454.855 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥454.855 million from the end of the previous fiscal year, reducing the balance of non-current liabilities and borrowing exposure. - FY2022-Q2Change in Borrowing MixAnnual report
「Current portion of long-term borrowings 1,907,492 1,988,510 Long-term borrowings 3,791,032 3,764,962」
Short-term borrowings declined from ¥49.700 million to zero, while the current portion of long-term borrowings increased and long-term borrowings decreased. Total borrowings were broadly unchanged, but their composition shifted toward borrowings nearing maturity. - FY2022-Q1WorsenedAnnual report
「The balance of current liabilities was ¥4,980.703 million, an increase of ¥1,474.223 million from the end of the previous fiscal year. This was mainly attributable to increases of ¥798.790 million in notes and accounts payable and ¥350.300 million in short-term borrowings.」
Short-term borrowings increased by ¥350.300 million, expanding current liabilities and reliance on borrowings and funding exposure. - FY2021WorsenedAnnual report
「The interest-bearing debt ratio, defined as interest-bearing debt as a percentage of total assets, was 61.8% as of 31 August 2021. Depending on future interest-rate trends, this could affect the Company's business performance.」
The interest-bearing debt ratio rose from 61.5% in the previous fiscal year to 61.8%, slightly increasing reliance on borrowings. - FY2021-Q3MitigatedAnnual report
「The balance of non-current liabilities was ¥3,998.180 million, a decrease of ¥547.705 million from the end of the previous fiscal year. This was mainly attributable to decreases of ¥488.024 million in long-term borrowings and ¥67.446 million in long-term accrued expenses.」
Long-term borrowings decreased by ¥488.024 million, reducing the balance of non-current liabilities. Although short-term borrowings of ¥99.800 million were recorded, borrowing exposure declined, mainly because of the decrease in long-term borrowings. - FY2021-Q2Decrease in Long-Term Borrowings and Increase in Short-Term BorrowingsAnnual report
「(Non-current liabilities) The balance of non-current liabilities at the end of the second quarter of the current fiscal year was ¥3,865.879 million, a decrease of ¥680.006 million from the end of the previous fiscal year. This was mainly attributable to a ¥661.785 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥661.785 million, while short-term borrowings increased by ¥166.600 million, changing the composition of borrowings. - FY2020WorsenedAnnual report
「The interest-bearing debt ratio, defined as interest-bearing debt as a percentage of total assets, was 61.5% as of 31 August 2020. Depending on future interest-rate trends, this could affect the Company's business performance.」
The interest-bearing debt ratio rose from 57.2% in the previous fiscal year to 61.5%, increasing reliance on borrowings. - FY2020-Q3WorsenedAnnual report
「The balance of non-current liabilities was ¥5,061.594 million, an increase of ¥1,106.631 million from the end of the previous fiscal year. This was mainly attributable to a ¥1,090.483 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,090.483 million, expanding reliance on borrowings and funding exposure on an absolute basis. - FY2020-Q2WorsenedAnnual report
「(Non-current liabilities) The balance of non-current liabilities at the end of the second quarter of the current fiscal year was ¥4,210.967 million, an increase of ¥256.005 million from the end of the previous fiscal year. This was mainly attributable to a ¥233.494 million increase in long-term borrowings.」
Long-term borrowings increased by ¥233.494 million, expanding reliance on borrowings and funding exposure on an absolute basis. - FY2020-Q1WorsenedAnnual report
「(Non-current liabilities) The balance of non-current liabilities at the end of the first quarter of the current fiscal year was ¥4,320.649 million, an increase of ¥365.686 million from the end of the previous fiscal year. This was mainly attributable to a ¥313.095 million increase in long-term borrowings.」
Long-term borrowings increased by ¥313.095 million, expanding reliance on borrowings and funding exposure on an absolute basis. - FY2019-Q3WorsenedAnnual report
「This was mainly attributable to a ¥65.064 million decrease in Other, despite increases of ¥405.638 million in trade payables, comprising the total of notes and accounts payable and electronically recorded obligations, ¥100.000 million in short-term borrowings, and ¥46.574 million in provision for bonuses.」
Short-term borrowings increased by ¥100.000 million, while long-term borrowings under non-current liabilities also increased by ¥201.204 million, expanding exposure to interest-bearing debt on an absolute basis. - FY2018WorsenedAnnual report
「The interest-bearing debt ratio, defined as interest-bearing debt as a percentage of total assets, was 57.2% as of 31 August 2018. Depending on future interest-rate trends, this could affect the Company's business performance.」
The interest-bearing debt ratio rose from 56.6% in the previous fiscal year to 57.2%, increasing reliance on borrowings. - FY2017MitigatedAnnual report
「The interest-bearing debt ratio, defined as interest-bearing debt as a percentage of total assets, was 56.6% as of 31 August 2017. Depending on future interest-rate trends, this could affect the Company's business performance.」
The interest-bearing debt ratio declined from 58.9% in the previous fiscal year to 56.6%, reducing exposure to interest-rate and funding risks. - FY2016First statedAnnual report
「The interest-bearing debt ratio, defined as interest-bearing debt as a percentage of total assets, was 58.9% as of 31 August 2016. Depending on future interest-rate trends, this could affect the Company's business performance.」
The interest-bearing debt ratio was 58.9%, and interest-rate fluctuations and the inability to raise funds, which could delay new store openings, are identified as risks.