Interest-Bearing Debt and Financing Risks from M&A and Nursing Care Investment
First written in FY2016. 18 of 34 entries say "Mitigated", first in FY2019-Q1. Latest entry: FY2026.
Ship Healthcare Holdings moved to the "Worse" side of this theme in 2016, 8 years before the typical company in this theme (2024).
The whole theme swung hardest in 2025: 16 of 29 companies on the "Worse" side.
12 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「The balance of interest-bearing debt at the end of the current fiscal year was ¥31,896 million.」
The balance of interest-bearing debt decreased from ¥39,303 million at the end of the previous fiscal year to ¥31,896 million, contracting exposure to financing associated with M&A, investments and other activities. - 2026-05-12MitigatedEarnings
「“Long-term borrowings” decreased by ¥5,013 million and “deferred tax liabilities” decreased by ¥1,026 million」
Long-term borrowings declined, reducing interest-bearing debt exposure associated with M&A and investment. - FY2026-H1MitigatedAnnual report
「Long-term borrowings 30,620 29,411」
Long-term borrowings decreased from ¥30,620 million at the end of the previous fiscal year to ¥29,411 million, contracting exposure to interest-bearing debt and financing associated with M&A, investment in nursing care and other activities. - FY2025MitigatedAnnual report
「The balance of interest-bearing debt at the end of the current fiscal year was ¥39,303 million.」
The balance of interest-bearing debt decreased from ¥59,910 million at the end of the previous fiscal year to ¥39,303 million, contracting exposure to financing associated with M&A, investments and other activities at the end of the fiscal year. - FY2025-H1MitigatedAnnual report
「Liabilities were ¥219,991 million, a decrease of ¥25,343 million from the end of the previous fiscal year. This was mainly due to decreases of ¥10,978 million in notes and accounts payable, ¥8,208 million in electronic obligations and ¥4,876 million in long-term borrowings, among other factors.」
Total liabilities decreased by ¥25,343 million, and long-term borrowings also decreased by ¥4,876 million, contracting exposure to interest-bearing debt and financing associated with M&A, investment in nursing care and other activities. - FY2024-Q3MitigatedAnnual report
「Liabilities were ¥234,332 million, a decrease of ¥16,530 million from the end of the previous fiscal year. This was mainly due to decreases of ¥25,016 million in bonds with stock acquisition rights due for redemption within one year and ¥7,819 million in notes and accounts payable, despite an increase of ¥14,847 million in short-term borrowings, among other factors.」
Total liabilities decreased by ¥16,530 million, and bonds due for redemption within one year also disappeared, resulting in an overall contraction in exposure to financing and interest-bearing debt. Short-term borrowings, however, increased. - FY2024-Q2MitigatedAnnual report
「Liabilities were ¥242,541 million, a decrease of ¥8,321 million from the end of the previous fiscal year.」
Total liabilities decreased by ¥8,321 million from the end of the previous fiscal year, while long-term borrowings also decreased from ¥41,571 million to ¥39,473 million. Exposure to interest-bearing debt and financing contracted during the quarter. - FY2024-Q1MitigatedAnnual report
「Liabilities were ¥245,789 million, a decrease of ¥5,073 million from the end of the previous fiscal year.」
Total liabilities decreased by ¥5,073 million from the end of the previous fiscal year, while long-term borrowings also decreased from ¥41,571 million to ¥40,555 million. Exposure to interest-bearing debt and financing contracted during the quarter. - FY2023-Q3WorsenedAnnual report
「Liabilities were ¥243,229 million, an increase of ¥30,473 million from the end of the previous fiscal year. This was mainly due to increases of ¥9,153 million in short-term borrowings, ¥7,257 million in electronic obligations and ¥4,189 million in long-term borrowings, despite a decrease of ¥2,848 million in income taxes payable, among other factors.」
Liabilities increased by ¥30,473 million from the end of the previous fiscal year, and both short-term and long-term borrowings increased, expanding exposure to financing and interest-bearing debt associated with M&A, investment in nursing care and other activities. - FY2023-Q2WorsenedAnnual report
「Liabilities were ¥235,087 million, an increase of ¥22,331 million from the end of the previous fiscal year. This was mainly due to increases of ¥9,302 million in short-term borrowings, ¥5,142 million in long-term borrowings and ¥1,466 million in electronic obligations, despite a decrease of ¥1,449 million in notes and accounts payable, among other factors.」
Liabilities increased by ¥22,331 million from the end of the previous fiscal year, and both short-term and long-term borrowings increased, expanding exposure to financing and interest-bearing debt. - FY2023-Q1WorsenedAnnual report
「Short-term borrowings 2,401 2,579 Bonds with stock acquisition rights 25,041 25,035 Long-term borrowings 29,970 30,704」
Short-term and long-term borrowings increased from the end of the previous fiscal year, and the balance of interest-bearing debt, including bonds with stock acquisition rights, increased. Exposure to financing associated with M&A, investments and other activities expanded during the quarter. - FY2022MitigatedAnnual report
「Total 42,246 38,371」
The balance of interest-bearing debt decreased from ¥42,246 million at the end of the previous fiscal year to ¥38,371 million, contracting exposure to interest-bearing debt and financing associated with M&A and investment in nursing care at the end of the fiscal year. - FY2022-Q3MitigatedAnnual report
「Liabilities were ¥203,744 million, a decrease of ¥15,649 million from the end of the previous fiscal year. This was mainly due to an increase of ¥2,134 million in electronic obligations, more than offset by decreases of ¥8,570 million in notes and accounts payable, ¥4,678 million in income taxes payable and ¥2,388 million in long-term borrowings, among other factors.」
Total liabilities and long-term borrowings decreased, contracting exposure to interest-bearing debt and financing associated with M&A, investment in nursing care and other activities. - FY2022-Q2MitigatedAnnual report
「Liabilities were ¥193,557 million, a decrease of ¥25,837 million from the end of the previous fiscal year. This was mainly due to an increase of ¥809 million in short-term borrowings, more than offset by decreases of ¥17,258 million in notes and accounts payable, ¥3,161 million in income taxes payable and ¥2,274 million in electronic obligations, among other factors.」
Total liabilities decreased by ¥25,837 million from the end of the previous fiscal year, and long-term borrowings also decreased, resulting in an overall contraction in exposure to financing and interest-bearing debt. Short-term borrowings, however, increased by ¥809 million. - FY2022-Q1MitigatedAnnual report
「Liabilities were ¥201,560 million, a decrease of ¥17,833 million from the end of the previous fiscal year.」
Total liabilities decreased by ¥17,833 million from the end of the previous fiscal year. Within interest-bearing debt, long-term borrowings decreased from ¥32,721 million to ¥32,087 million, while short-term borrowings increased from ¥1,248 million to ¥1,710 million. - FY2021MitigatedAnnual report
「The balance of interest-bearing debt at the end of the current fiscal year was ¥42,246 million.」
The balance of interest-bearing debt decreased from ¥44,926 million at the end of the previous fiscal year to ¥42,246 million, and exposure to interest-bearing debt associated with M&A and investment in nursing care contracted at the end of the current fiscal year. - FY2021-Q3WorsenedAnnual report
「Liabilities were ¥206,866 million, an increase of ¥2,674 million from the end of the previous fiscal year. This was mainly due to increases of ¥2,739 million in short-term borrowings and ¥2,626 million in electronic obligations, despite a decrease of ¥3,433 million in long-term borrowings, among other factors.」
Although long-term borrowings decreased, short-term borrowings increased from ¥935 million at the end of the previous fiscal year to ¥3,674 million, expanding exposure to financing through short-term borrowings. - FY2021-Q2WorsenedAnnual report
「Liabilities were ¥193,395 million, a decrease of ¥10,796 million from the end of the previous fiscal year. This was mainly due to an increase of ¥3,888 million in short-term borrowings, more than offset by decreases of ¥12,138 million in notes and accounts payable and ¥1,160 million in income taxes payable, among other factors.」
Although total liabilities decreased, short-term borrowings increased from ¥935 million at the end of the previous fiscal year to ¥4,823 million, expanding exposure to financing through short-term borrowings. - FY2021-Q1WorsenedAnnual report
「Liabilities were ¥194,347 million, a decrease of ¥9,844 million from the end of the previous fiscal year. This was mainly due to an increase of ¥3,775 million in short-term borrowings, more than offset by decreases of ¥11,731 million in notes and accounts payable and ¥3,284 million in income taxes payable, among other factors.」
Although total liabilities decreased, short-term borrowings increased by ¥3,775 million from ¥935 million to ¥4,710 million. Although long-term borrowings decreased, the composition of borrowings indicates that exposure to financing through short-term borrowings has expanded. - FY2020MitigatedAnnual report
「Total 47,637 44,926」
The balance of interest-bearing debt decreased from ¥47,637 million at the end of the previous fiscal year to ¥44,926 million. Long-term borrowings also decreased from ¥39,700 million to ¥36,987 million, and exposure to interest-bearing debt contracted at the end of the current fiscal year. - FY2020-Q3MitigatedAnnual report
「Liabilities were ¥204,301 million, an increase of ¥2,824 million from the end of the previous fiscal year. This was mainly due to increases of ¥2,982 million in notes and accounts payable and ¥2,775 million in electronic obligations, despite decreases of ¥2,492 million in income taxes payable and ¥1,548 million in long-term borrowings, among other factors.」
Although total liabilities increased, long-term borrowings decreased by ¥1,548 million from the end of the previous fiscal year, and exposure to interest-bearing debt associated with M&A and investment in nursing care contracted. - FY2020-Q2MitigatedAnnual report
「Liabilities were ¥202,471 million, an increase of ¥993 million from the end of the previous fiscal year. This was mainly due to an increase of ¥6,503 million in notes and accounts payable, despite decreases of ¥3,102 million in electronic obligations and ¥1,461 million in long-term borrowings, among other factors.」
Although total liabilities increased by ¥993 million, long-term borrowings decreased by ¥1,461 million, and exposure to interest-bearing debt associated with M&A and investment in nursing care contracted during the quarter. - FY2020-Q1MitigatedAnnual report
「Liabilities were ¥197,574 million, a decrease of ¥3,903 million from the end of the previous fiscal year.」
Total liabilities decreased by ¥3,903 million from the end of the previous fiscal year, while long-term borrowings also decreased from ¥39,700 million to ¥38,533 million. Exposure to interest-bearing debt and financing contracted during the quarter. - FY2019-Q3WorsenedAnnual report
「Liabilities were ¥193,496 million, an increase of ¥10,670 million from the end of the previous fiscal year. This was mainly due to an increase of ¥25,122 million in bonds with stock acquisition rights, despite decreases of ¥8,877 million in notes and accounts payable and ¥3,793 million in income taxes payable, among other factors.」
Liabilities increased by ¥10,670 million from the end of the previous fiscal year due to the ¥25,122 million increase in bonds with stock acquisition rights, expanding exposure to interest-bearing debt and financing. - FY2019-Q2WorsenedAnnual report
「Liabilities were ¥156,427 million, a decrease of ¥26,399 million from the end of the previous fiscal year. This was mainly due to an increase of ¥4,350 million in long-term borrowings, more than offset by decreases of ¥20,976 million in notes and accounts payable and ¥3,355 million in electronic obligations, among other factors.」
Although total liabilities decreased, long-term borrowings increased by ¥4,350 million from the end of the previous fiscal year, and exposure to interest-bearing debt and financing associated with M&A, investment in nursing care and other activities has expanded. - FY2019-Q1MitigatedAnnual report
「Liabilities were ¥165,652 million, a decrease of ¥17,174 million from the end of the previous fiscal year.」
Total liabilities decreased by ¥17,174 million from the end of the previous fiscal year, while long-term borrowings also decreased from ¥36,765 million to ¥35,645 million. Exposure to interest-bearing debt associated with M&A and investment in nursing care contracted during the quarter. - FY2018WorsenedAnnual report
「Non-current liabilities stood at ¥45,154 million, compared with ¥43,530 million at the end of the previous fiscal year, an increase of ¥1,624 million. This was mainly due to increases of ¥618 million in long-term borrowings and ¥490 million in deferred tax liabilities, among other factors.」
Non-current liabilities increased, and long-term borrowings also rose by ¥618 million from the end of the previous fiscal year, with exposure to financing and interest-bearing debt continuing. - FY2018-Q3WorsenedAnnual report
「Liabilities were ¥168,892 million, a decrease of ¥1,015 million from the end of the previous fiscal year. This was mainly due to increases of ¥3,769 million in electronic obligations and ¥1,771 million in long-term borrowings, more than offset by a decrease of ¥5,966 million in notes and accounts payable, among other factors.」
Although total liabilities decreased, long-term borrowings increased by ¥1,771 million from the end of the previous fiscal year, and exposure to interest-bearing debt and financing has continued. - FY2018-Q2WorsenedAnnual report
「Liabilities were ¥152,803 million, a decrease of ¥17,104 million from the end of the previous fiscal year. This was mainly due to increases of ¥2,031 million in long-term borrowings and ¥1,070 million in electronic obligations, more than offset by decreases of ¥19,657 million in notes and accounts payable and ¥1,915 million in income taxes payable, among other factors.」
Although total liabilities decreased, long-term borrowings increased by ¥2,031 million from the end of the previous fiscal year, and exposure to interest-bearing debt and financing has continued and expanded. - FY2018-Q1WorsenedAnnual report
「Liabilities amounted to ¥152,064 million, a decrease of ¥17,843 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥2,384 million in electronic recorded obligations and ¥1,919 million in long-term borrowings, while notes and accounts payable—trade decreased by ¥21,858 million and income taxes payable by ¥2,984 million, among other changes.」
Although short-term borrowings decreased, long-term borrowings increased by ¥1,919 million, and exposure to interest-bearing debt remains. - FY2017-Q3WorsenedAnnual report
「Liabilities amounted to ¥152,868 million, an increase of ¥15,934 million from the end of the previous consolidated fiscal year. The main factors were a ¥2,366 million decrease in income taxes payable, while short-term borrowings increased by ¥9,346 million and electronic recorded obligations by ¥7,390 million, among other changes.」
Short-term borrowings increased by ¥9,346 million from the end of the previous consolidated fiscal year, further increasing exposure to funding and interest-bearing debt associated with M&A and other activities. - FY2017-Q2MaterialisedAnnual report
「Liabilities amounted to ¥146,337 million, an increase of ¥9,403 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥5,274 million in notes and accounts payable—trade and ¥779 million in income taxes payable, while short-term borrowings increased by ¥9,005 million and electronic recorded obligations by ¥3,927 million, among other changes.」
Short-term borrowings increased by ¥9,005 million from the end of the previous consolidated fiscal year, with continued exposure to funding associated with M&A and other activities. - FY2017-Q1MaterialisedAnnual report
「The main factors were decreases of ¥3,178 million in notes and accounts payable—trade and ¥1,963 million in income taxes payable, while short-term borrowings increased by ¥9,684 million, electronic recorded obligations by ¥6,914 million, and provision for bonuses by ¥965 million, among other changes.」
Along with the expansion of assets and liabilities associated with the business integration and other factors, short-term borrowings increased from ¥1,615 million to ¥11,300 million, creating exposure to interest-bearing debt and funding. - FY2016First statedAnnual report
「The Group's future business plans may continue to increase interest-bearing debt, including funding needs related to M&A and funding needs in the nursing care division of the life care business. There is no assurance that funding will be available on terms favorable to the company, which could constrain its business.」
Funding needs and increases in interest-bearing debt associated with M&A and nursing care facility investments are identified as risks. Interest-bearing debt at the end of the fiscal year included ¥2,050 million in bonds and long-term borrowings, among other items.