Interest Rate Risk and Mitigation Through Long-Term Borrowing and Fixed Rates
First written in FY2016. 5 of 8 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2025: 13 of 68 companies on the "Worse" side.
34 other companies' latest entry also says "Other".
- FY2025Slight decline in long-term and fixed-rate ratiosAnnual report
「The long-term ratio of interest-bearing debt was 95.3%, and the fixed-rate ratio was 92.4% at the end of the consolidated fiscal year. Both ratios exclude SPC borrowings.」
The company continues to address rising interest rates through long-term borrowing and fixed-rate financing, but the long-term ratio and fixed-rate ratio declined from 95.8% and 95.5%, respectively, in the previous disclosure. - FY2024RestatedAnnual report
「The long-term ratio of interest-bearing debt was 95.8%, and the fixed-rate ratio was 95.5% at the end of the consolidated fiscal year. Both ratios exclude SPC borrowings.」
The company continues to use long-term borrowing, fixed-rate financing and interest-rate hedges to address the risk of rising interest rates, and has disclosed a long-term ratio of 95.8% and a fixed-rate ratio of 95.5%. - FY2022RestatedAnnual report
「The long-term ratio of interest-bearing debt was 96.8%, and the fixed-rate ratio was 94.1% at the end of the consolidated fiscal year.」
The company continues to follow a policy of using long-term borrowing, fixed-rate financing and interest-rate swaps, and has disclosed a long-term ratio of 96.8% and a fixed-rate ratio of 94.1%. - FY2021MitigatedAnnual report
「The long-term ratio of interest-bearing debt was 97.0%, and the fixed-rate ratio was 93.6% at the end of the consolidated fiscal year.」
The company continued to address interest-rate fluctuations through long-term borrowing and fixed-rate financing, raising the long-term ratio from 89.7% to 97.0% and the fixed-rate ratio from 86.7% to 93.6%. - FY2020RestatedAnnual report
「At the end of the consolidated fiscal year, long-term borrowings accounted for 89.7% of interest-bearing debt and fixed-rate borrowings accounted for 86.7%.」
The company continues its policy of using long-term borrowings, fixed-rate financing, and interest rate swaps to address interest rate risk, and disclosed a long-term borrowing ratio of 89.7% and a fixed-rate ratio of 86.7%. - FY2019RestatedAnnual report
「As of the end of March 2019, interest-bearing debt stood at ¥1,289.8 billion and the D/E ratio was 2.3x. To reduce interest expense and the impact of interest rate fluctuations in its financing, the company obtains most of its interest-bearing debt through long-term borrowings. In light of financial conditions, it uses floating rates for some project finance and has fixed interest rates for almost all other borrowings.」
The company has updated its interest-bearing debt balance and D/E ratio and continues to manage interest rate fluctuations through long-term borrowings, fixed-rate financing, interest rate swaps, and other measures. - FY2018RestatedAnnual report
「As of the end of March 2018, interest-bearing debt stood at ¥1,210,376 million and the D/E ratio was 2.6x. To reduce interest expense and the impact of interest rate fluctuations in its financing, the company obtains most of its interest-bearing debt through long-term borrowings. In light of financial conditions, it uses floating rates for some project finance and has fixed interest rates for almost all other borrowings.」
The company reported interest-bearing debt of ¥1,210.376 billion and a D/E ratio of 2.6x, and continues its policy of managing interest rate risk through long-term borrowings, fixed-rate financing, interest rate swaps, and other measures. - FY2016First statedAnnual report
「To reduce interest expense and the impact of interest rate fluctuations, the Group obtains most of its interest-bearing debt through long-term borrowings. In light of financial conditions, it uses floating rates for some project finance and has fixed interest rates for almost all other borrowings.」
The company states that rising interest rates could have a significant medium- to long-term impact, and uses long-term borrowings, fixed-rate financing, and interest rate swaps as measures.