Dependence on Interest-Bearing Debt and Financing and Interest-Rate Risks
First written in FY2018. 18 of 23 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2026.
Central General Development 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
「The main factors were higher expenses, including advertising and sales commissions for condominiums in the real estate sales business, and higher interest expense resulting from increased borrowings and higher borrowing rates.」
Interest expense increased as borrowings rose and borrowing rates increased, making the interest burden associated with reliance on interest-bearing debt evident in actual results. - FY2026-H1WorsenedAnnual report
「Liabilities increased by ¥4,440 million from the end of the previous consolidated fiscal year to ¥39,600 million. This was mainly due to an increase in borrowings associated with progress in acquiring business-use land and other activities in the real estate sales business.」
Higher borrowings associated with the acquisition of business-use land increased liabilities by ¥4,440 million, increasing financial exposure arising from reliance on interest-bearing debt. - FY2025WorsenedAnnual report
「Liabilities increased by ¥8,512 million from the end of the previous consolidated fiscal year to ¥35,159 million. This was due to an ¥8,316 million increase in borrowings accompanying progress in acquiring business-use land and other activities in the real estate sales business.」
Borrowings increased by ¥8,316 million in connection with the acquisition of business-use land, increasing financial exposure arising from reliance on interest-bearing debt. - FY2025-H1WorsenedAnnual report
「Liabilities increased by ¥8,501 million from the end of the previous consolidated fiscal year to ¥35,148 million. This was mainly due to an increase in borrowings associated with progress in acquiring business-use land and other activities in the real estate sales business.」
Higher borrowings associated with the acquisition of business-use land increased liabilities by ¥8,501 million, increasing financial exposure arising from reliance on interest-bearing debt. - FY2024WorsenedAnnual report
「Liabilities increased by ¥6,770 million from the end of the previous consolidated fiscal year to ¥26,646 million. This was due to a ¥7,121 million increase in borrowings accompanying progress in acquiring business-use land and other activities in the real estate sales business.」
Borrowings associated with the acquisition of business-use land and other activities increased by ¥7,121 million, increasing financial exposure arising from reliance on interest-bearing debt. - FY2024-Q3WorsenedAnnual report
「Liabilities increased by ¥9,378 million from the end of the previous consolidated fiscal year to ¥29,255 million. This was mainly due to an increase in borrowings accompanying the steady progress of business-use land acquisitions and other activities in the real estate sales business.」
Higher borrowings associated with progress in acquiring business-use land increased liabilities by ¥9,378 million from the end of the previous fiscal year, increasing financial exposure arising from reliance on interest-bearing debt. - FY2024-Q2WorsenedAnnual report
「Liabilities increased by ¥8,733 million from the end of the previous consolidated fiscal year to ¥28,610 million. This was mainly due to an increase in borrowings associated with progress in acquiring business-use land and other activities in the real estate sales business.」
Higher borrowings associated with the acquisition of business-use land increased liabilities by ¥8,733 million, increasing financial exposure arising from reliance on interest-bearing debt. - FY2024-Q1WorsenedAnnual report
「Liabilities increased by ¥4,369 million from the end of the previous consolidated fiscal year to ¥24,246 million. This was mainly due to an increase in borrowings.」
Liabilities increased by ¥4,369 million from the end of the previous fiscal year due to higher borrowings, increasing financial exposure arising from reliance on interest-bearing debt. - FY2023MitigatedAnnual report
「Liabilities decreased by ¥1,015 million from the end of the previous consolidated fiscal year to ¥19,876 million. This was mainly due to a ¥1,239 million decrease in borrowings.」
Borrowings decreased by ¥1,239 million during the year, and the balance of liabilities also declined, reducing financial exposure arising from reliance on interest-bearing debt from the end of the previous fiscal year. However, the highly debt-dependent financial structure continues to be identified as a risk. - FY2023-Q3WorsenedAnnual report
「Liabilities increased by ¥928 million from the end of the previous consolidated fiscal year to ¥21,820 million. This was mainly due to an increase in borrowings associated with progress in acquiring business-use land and other activities in the real estate sales business, despite decreases in items such as income taxes payable and advances received for the real estate business.」
Liabilities increased by ¥928 million from the end of the previous fiscal year due to higher borrowings associated with progress in acquiring business-use land, increasing financial exposure arising from reliance on interest-bearing debt. - FY2023-Q2WorsenedAnnual report
「Liabilities increased by ¥3,556 million from the end of the previous consolidated fiscal year to ¥24,448 million. This was mainly due to an increase in borrowings associated with progress in acquiring business-use land and other activities in the real estate sales business.」
Higher borrowings associated with the acquisition of business-use land increased liabilities by ¥3,556 million, increasing financial exposure arising from reliance on interest-bearing debt. - FY2023-Q1WorsenedAnnual report
「Liabilities increased by ¥721 million from the end of the previous consolidated fiscal year to ¥21,613 million. This was mainly due to an increase in borrowings.」
Liabilities increased by ¥721 million from the end of the previous fiscal year due to higher borrowings, increasing financial exposure arising from reliance on interest-bearing debt. - FY2022MitigatedAnnual report
「Liabilities decreased by ¥64 million from the end of the previous consolidated fiscal year to ¥20,892 million. This was mainly because borrowings decreased, despite an increase in advances received for the real estate business resulting from steady progress in contracts in the real estate sales business.」
Liabilities decreased by ¥64 million from the end of the previous fiscal year due to lower borrowings, and financial exposure arising from reliance on interest-bearing debt declined from the end of the previous fiscal year. - FY2022-Q3WorsenedAnnual report
「Liabilities increased by ¥2,054 million from the end of the previous consolidated fiscal year to ¥23,011 million. This was mainly due to an increase in borrowings associated with the steady progress of business-use land acquisitions and other activities in the real estate sales business.」
Higher borrowings associated with progress in acquiring business-use land increased financial exposure arising from reliance on debt. - FY2022-Q1WorsenedAnnual report
「Liabilities increased by ¥1,156 million from the end of the previous consolidated fiscal year to ¥22,113 million. This was mainly due to a ¥781 million increase in borrowings related to the real estate sales business and the rental apartment business.」
Borrowings associated with the real estate sales and rental apartment businesses increased by ¥781 million, increasing financial exposure arising from reliance on interest-bearing debt. - FY2021-Q3WorsenedAnnual report
「Liabilities increased by ¥4,896 million from the end of the previous consolidated fiscal year to ¥23,046 million. This was mainly due to an increase in borrowings associated with the smooth progress of land acquisitions and other activities related to the real estate sales business.」
Liabilities increased by ¥4,896 million from the end of the previous fiscal year due to higher borrowings associated with progress in acquiring business-use land, increasing financial exposure arising from reliance on debt. - FY2021-Q2WorsenedAnnual report
「Liabilities increased by ¥6,804 million from the end of the previous consolidated fiscal year to ¥24,954 million. This was mainly due to an increase in borrowings associated with the smooth progress of land acquisitions and other activities related to the real estate sales business.」
Liabilities increased by ¥6,804 million as borrowings rose in connection with the acquisition of land for business use, expanding the financial exposure arising from dependence on interest-bearing debt. - FY2021-Q1WorsenedAnnual report
「Liabilities increased by ¥2,037 million from the end of the previous consolidated fiscal year to ¥20,188 million. This was mainly due to a ¥2,347 million increase in borrowings related to the real estate sales business.」
Borrowings related to the real estate sales business increased by ¥2,347 million, expanding the financial exposure arising from dependence on borrowings. - FY2020RestatedAnnual report
「Because funds for acquiring land for condominiums and funds for purchasing land and buildings such as rental office buildings are sourced primarily through borrowings from financial institutions, our financial structure is highly dependent on interest-bearing debt.」
The company's financial structure and funding risks arising from its dependence on borrowings to fund land and rental-asset acquisitions were reconfirmed. - FY2019RestatedAnnual report
「Because funds for acquiring land for condominiums and funds for purchasing land and buildings such as rental office buildings are sourced primarily through borrowings from financial institutions, our financial structure is highly dependent on interest-bearing debt.」
The company's dependence on borrowings to fund land and rental-asset acquisitions, and the related funding risks arising from interest rates and borrowing terms, were reconfirmed. - FY2018First statedAnnual report
「Because funds for acquiring land for condominiums and funds for purchasing land and buildings such as rental office buildings are sourced primarily through borrowings from financial institutions, our financial structure is highly dependent on interest-bearing debt. Accordingly, if current interest rates fluctuate significantly, or if restrictions are imposed on borrowing terms and we breach them, making it impossible to raise funds as planned, our business performance and financial condition may be affected.」
The company newly identified as financial risks its high dependence on borrowings to fund land and rental-asset acquisitions, and funding constraints arising from interest-rate fluctuations or breaches of borrowing terms.