Dependence on Interest-Bearing Debt and Changes in Financing Conditions
First written in FY2016. 22 of 33 entries say "Worsened", first in FY2018. Latest entry: 2026-09-10.
Early Age 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.
81 other companies' latest entry also says "Worsened".
- 2026-09-10WorsenedEarnings
「This mainly reflected a ¥711.998 million increase in borrowings due to the acquisition of land for business use and the completion of buildings and other factors.」
Interest-bearing debt exposure increased further, with borrowings rising by ¥711.998 million from the end of the previous consolidated fiscal year. - FY2026-H1WorsenedAnnual report
「Borrowings increased by ¥313,557 thousand, primarily due to the acquisition of land for business use and the completion of buildings.」
Borrowings increased by ¥313,557 thousand in connection with the acquisition of land for business use and the completion of buildings, expanding the exposure to reliance on interest-bearing debt. No actual loss arising from the risk is disclosed. - 2026-06-11WorsenedEarnings
「At the end of the interim consolidated accounting period, total liabilities were ¥10,789.974 million, an increase of ¥331.264 million from the end of the previous consolidated fiscal year. This mainly reflected a ¥313.557 million increase in borrowings due to the acquisition of land for business use and the completion of buildings.」
Borrowings increased by ¥313.557 million in connection with the acquisition of land for business use and the completion of buildings, expanding interest-bearing debt exposure. - FY2025WorsenedAnnual report
「(Total free cash flow) 736,170 △1,246,594 Total interest-bearing debt A 8,786,784 9,685,780 Reliance on interest-bearing debt A/B 61.03% 63.78%」
Free cash flow changed from positive ¥736,170 thousand to negative ¥1,246,594 thousand, while total interest-bearing debt rose to ¥9,685,780 thousand and reliance rose to 63.78%. - FY2025-H1WorsenedAnnual report
「This was primarily due to an increase of ¥492,457 thousand in long-term borrowings resulting from the acquisition of land for new development and other factors.」
Long-term borrowings increased by ¥492,457 thousand due to the acquisition of land for new development and other factors, expanding exposure to interest-bearing debt from the end of the previous consolidated fiscal year. - FY2024-Q2WorsenedAnnual report
「This was primarily due to increases of ¥219,359 thousand in income taxes payable and other taxes and ¥31,264 thousand in borrowings.」
Borrowings increased by ¥31,264 thousand, and exposure to interest-bearing debt expanded again after the decrease in borrowings at the end of the previous fiscal year. - FY2024-Q1WorsenedAnnual report
「Concerns about soaring real estate prices, higher construction costs resulting from supply constraints for construction materials, and rising interest rates are becoming more pronounced.」
Concerns about higher construction costs and rising interest rates are said to be emerging, with external risks relating to the financing environment under reliance on borrowings being emphasized. quantified is false, materialized is false. - FY2023WorsenedAnnual report
「Total interest-bearing debt A 8,356,236 8,563,327 Total assets B 13,154,883 13,488,222 Reliance on interest-bearing debt A/B 63.5% 63.5%」
Total interest-bearing debt increased from ¥8,356,236 thousand to ¥8,563,327 thousand, while reliance remained flat at 63.5%. Free cash flow changed from positive ¥693,735 thousand to negative ¥151,954 thousand. - FY2023-Q3WorsenedAnnual report
「This was mainly due to a ¥116.925 million decrease in accrued corporate taxes and other taxes and a ¥75.240 million increase in borrowings from the acquisition of new land for development, among other factors.」
Borrowings increased by ¥75,240 thousand due to the acquisition of land for new development and other factors, and exposure to interest-bearing debt expanded again from the end of the previous fiscal year. - FY2023-Q2WorsenedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year amounted to ¥9,370,584 thousand, an increase of ¥123,752 thousand from the end of the previous consolidated fiscal year. This was primarily due to an increase of ¥174,646 thousand in borrowings.」
Borrowings increased by ¥174,646 thousand, reversing the decline in borrowings at the end of the previous fiscal year, and exposure to reliance on interest-bearing debt expanded. quantified is true, materialized is false. - FY2023-Q1WorsenedAnnual report
「Total liabilities at the end of the first quarter of the current consolidated fiscal year amounted to ¥9,319,007 thousand, an increase of ¥72,175 thousand from the end of the previous consolidated fiscal year. This was primarily due to a ¥105,315 thousand decrease in income taxes payable and other taxes, and a ¥178,351 thousand increase in borrowings.」
Borrowings increased by ¥178,351 thousand, reversing the decline in borrowings and the reduction in exposure to interest-bearing debt at the end of the previous fiscal year, with borrowings increasing again in the current quarter. - FY2022MitigatedAnnual report
「Total interest-bearing debt A 9,021,234 8,356,236 Total assets B 13,423,658 13,154,883 Reliance on interest-bearing debt A/B 67.2% 63.5%」
Total interest-bearing debt declined from ¥9,021,234 thousand in the previous fiscal year to ¥8,356,236 thousand, and reliance also declined from 67.2% to 63.5%, reducing the exposure to reliance on borrowings. - FY2022-Q3MitigatedAnnual report
「Total liabilities as of the end of the third quarter of the current consolidated fiscal year were ¥9,237.185 million, down ¥451.358 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥677.956 million decrease in borrowings.」
Borrowings decreased by ¥677,956 thousand, continuing to reduce the exposure to interest-bearing debt that had expanded through the previous quarter. - FY2022-Q2MitigatedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year amounted to ¥9,248,097 thousand, a decrease of ¥440,446 thousand from the end of the previous consolidated fiscal year. This was primarily due to a decrease of ¥687,101 thousand in borrowings.」
Borrowings decreased by ¥687,101 thousand, reducing the exposure to interest-bearing debt that had expanded through the previous quarter. - FY2022-Q1MitigatedAnnual report
「This was primarily due to a decrease of ¥293,604 thousand in long-term borrowings.」
Long-term borrowings decreased by ¥293,604 thousand, reducing the exposure to interest-bearing debt that had expanded through the previous quarter. quantified is true, materialized is false. - FY2021-Q3WorsenedAnnual report
「Total liabilities as of the end of the third quarter of the current consolidated fiscal year were ¥9,716.492 million, up ¥889.704 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥967.824 million increase in borrowings.」
Borrowings increased by ¥967,824 thousand, expanding the exposure to reliance on interest-bearing debt and changes in the financing environment. - FY2021-Q2WorsenedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year amounted to ¥9,327,844 thousand, an increase of ¥501,056 thousand from the end of the previous consolidated fiscal year. This was primarily due to an increase of ¥498,694 thousand in borrowings.」
Borrowings increased by ¥498,694 thousand, expanding the exposure to reliance on interest-bearing debt and changes in the financing environment. - FY2021-Q1WorsenedAnnual report
「Total liabilities at the end of the first quarter of the current consolidated fiscal year amounted to ¥8,948,672 thousand, an increase of ¥121,884 thousand from the end of the previous consolidated fiscal year. This was primarily due to an increase of ¥176,546 thousand in borrowings.」
Borrowings increased by ¥176,546 thousand and total liabilities also increased by ¥121,884 thousand from the end of the previous consolidated fiscal year, expanding the exposure to reliance on interest-bearing debt. - FY2020WorsenedAnnual report
「Total interest-bearing debt A 7,597,206 8,126,033 Total assets B 11,715,439 12,391,138 Reliance on interest-bearing debt A/B 64.8% 65.6%」
Total interest-bearing debt increased from ¥7,597,206 thousand to ¥8,126,033 thousand, while reliance on interest-bearing debt rose from 64.8% to 65.6%. - FY2020-Q3WorsenedAnnual report
「This was mainly due to a ¥523.949 million increase in current portions of long-term borrowings and long-term borrowings.」
Current and long-term portions of long-term borrowings increased by ¥523,949 thousand, expanding the exposure to reliance on interest-bearing debt and changes in the financing environment. - FY2020-Q2WorsenedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year amounted to ¥8,941,206 thousand, an increase of ¥576,488 thousand from the end of the previous consolidated fiscal year. This was primarily due to an increase of ¥610,800 thousand in borrowings.」
Borrowings increased by ¥610,800 thousand, expanding the exposure to reliance on interest-bearing debt and changes in the financing environment. - FY2020-Q1WorsenedAnnual report
「This was primarily due to an increase of ¥192,453 thousand in borrowings.」
Total liabilities at the end of the quarter increased by ¥145,482 thousand from the end of the previous consolidated fiscal year, primarily due to a ¥192,453 thousand increase in borrowings, and the exposure to reliance on borrowings expanded. - FY2019WorsenedAnnual report
「Total interest-bearing debt A 6,844,308 7,597,206 Total assets B 10,745,389 11,715,439 Reliance on interest-bearing debt A/B 63.7% 64.8%」
Total interest-bearing debt increased to ¥7,597,206 thousand and reliance on interest-bearing debt rose to 64.8%, indicating greater reliance on borrowings than in the previous fiscal year. - FY2019-Q3WorsenedAnnual report
「This was mainly due to a ¥680.250 million increase in long-term borrowings.」
Long-term borrowings increased by ¥680,250 thousand, expanding the exposure to reliance on interest-bearing debt and changes in the financing environment. - FY2019-Q2WorsenedAnnual report
「This was primarily due to an increase of ¥465,762 thousand in long-term borrowings.」
Long-term borrowings increased by ¥465,762 thousand, expanding the exposure to reliance on interest-bearing debt and changes in the financing environment. - FY2019-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the first quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes regarding the risks associated with reliance on interest-bearing debt and changes in the financing environment. - FY2018WorsenedAnnual report
「Total interest-bearing debt A 5,904,458 6,844,308 Total assets B 9,534,326 10,745,389 Reliance on interest-bearing debt A/B 61.9% 63.7%」
Total interest-bearing debt increased from ¥5,904,458 thousand to ¥6,844,308 thousand, while reliance on interest-bearing debt increased from 61.9% to 63.7%. - FY2018-Q3RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the third quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
No material changes have been identified regarding the risks associated with reliance on interest-bearing debt and changes in the financing environment. - FY2018-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes regarding the risks associated with reliance on interest-bearing debt and changes in the financing environment. - FY2018-Q1RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the first quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes regarding the risks associated with reliance on interest-bearing debt and changes in the financing environment. - FY2017-Q3RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the third quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes regarding the risks associated with reliance on interest-bearing debt and changes in the financing environment. - FY2017-Q2RestatedAnnual report
「There were no newly arising business or other risks during the cumulative consolidated period for the second quarter. Nor were there any material changes to the business or other risks described in the securities report for the previous fiscal year.」
No material changes have been identified regarding the risks associated with reliance on interest-bearing debt and changes in the financing environment. - FY2016First statedAnnual report
「Our group primarily finances the acquisition of land and buildings for the real estate development and sales business and income-producing properties owned by the company for the property management and operations business through borrowings from financial institutions. Interest-bearing debt dependence ratio: A/B 60.2%. Total interest-bearing debt: ¥5,165,459 thousand.」
The company explains that real estate acquisitions are primarily financed through borrowings and discloses an interest-bearing debt dependence ratio of 60.2% and total interest-bearing debt of ¥5,165,459 thousand. It indicates that changes in financing conditions or creditworthiness could make financing insufficient.