Reducing Interest-Bearing Debt and Improving Cash Efficiency and Financial Soundness
First written in FY2018. 19 of 28 entries say "Advanced", first in FY2019-Q2. Latest entry: 2026-11-09.
The whole theme swung hardest in 2026: 3 of 19 companies on the "Worse" side.
8 other companies' latest entry also says "Advanced".
- FY2026-H1AdvancedAnnual report
「• Interest-bearing debt declined to ¥4,780 million, down ¥721 million from the end of the previous consolidated fiscal year. As a result, the ratio of interest-bearing debt to equity (D/E ratio) fell to 0.44, down 0.05 from the end of the previous consolidated fiscal year.」
The company reduced interest-bearing debt by ¥721 million from the end of the previous fiscal year, lowering the D/E ratio to 0.44. This represents specific progress in improving financial soundness. - FY2025AdvancedAnnual report
「The D/E ratio for the fiscal year was 0.49, and we assess that the company operated in line with its target.」
Under its revamped financial framework, the company reduced interest-bearing debt and lowered the D/E ratio to 0.49. It continues to focus on balancing growth investments with financial soundness and on management that prioritizes cash returns above the cost of capital. - FY2025-H1AdvancedAnnual report
「Interest-bearing debt declined to ¥5,358 million, down ¥715 million from the end of the previous consolidated fiscal year. As a result, the ratio of interest-bearing debt to equity (D/E ratio) fell to 0.50, down 0.06 from the end of the previous consolidated fiscal year.」
Reported specific progress in reducing interest-bearing debt to improve financial soundness, with a ¥715 million decrease during the current interim consolidated accounting period and a D/E ratio of 0.50. - FY2024ReframedAnnual report
「Amid calls for management that takes the cost of capital and share price into account, the company reviewed its financial strategy and revamped its financial framework during the fiscal year. Through the appropriate allocation of management capital, it aims to improve its ability to generate future cash flow and capital efficiency, and to manage its finances in a way that supports sustainable growth and enhances corporate value.」
The company is shifting from debt-reduction-focused financial management to a financial framework combining cash returns above the cost of capital, an optimal capital structure, growth investments and cash flow allocation. - FY2024-Q3AdvancedAnnual report
「Interest-bearing debt declined to ¥5,218 million, down ¥700 million from the end of the previous consolidated fiscal year. As a result, the ratio of interest-bearing debt to equity (D/E ratio) fell to 0.49, down 0.08 from the end of the previous consolidated fiscal year.」
Reported specific progress in reducing interest-bearing debt, with the balance at ¥5.218 billion, down ¥700 million from the end of the previous fiscal year, and a D/E ratio of 0.49. - FY2024-Q1AdvancedAnnual report
「• Interest-bearing debt declined to ¥5,511 million, down ¥407 million from the end of the previous consolidated fiscal year. As a result, the ratio of interest-bearing debt to equity (D/E ratio) fell to 0.55, down 0.02 from the end of the previous consolidated fiscal year.」
Reported specific progress in reducing interest-bearing debt and improving financial soundness, with the balance at ¥5.511 billion, down ¥407 million from the end of the previous fiscal year, and a D/E ratio of 0.55. - FY2023ReframedAnnual report
「The company plans to allocate ¥2.1 billion to growth investments during the period of its Medium-Term Management Plan. It estimates a three-year cumulative target of ¥4.8 billion for underlying operating cash flow during the plan period, defined as operating cash flow less changes in working capital, and will allocate the funds primarily to growth investments. In addition, to launch new businesses, the company plans to maintain a certain level of debt capacity during the period of its Medium-Term Management Plan 2023-2025 so that it can undertake large-scale investments.」
The company is shifting from its previous debt-reduction-focused financial management to a policy of maintaining a certain level of borrowing capacity and allocating funds to investments, based on ¥2.1 billion of growth investments and ¥4.8 billion of underlying operating cash flow. - FY2023-Q3Interest-bearing debt continued to increaseAnnual report
「• Interest-bearing debt increased to ¥5,554 million, up ¥840 million from the end of the previous consolidated fiscal year. As a result, the ratio of interest-bearing debt to equity (D/E ratio) rose to 0.56, up 0.08 from the end of the previous consolidated fiscal year.」
Regarding the theme of reducing interest-bearing debt and improving financial soundness, the balance and D/E ratio increased from the end of the previous fiscal year at the end of the third quarter. - FY2023-Q2Small increase in interest-bearing debtAnnual report
「Interest-bearing debt was ¥4,798 million, up ¥85 million from the end of the previous consolidated fiscal year. As a result, the ratio of interest-bearing debt to equity (D/E ratio) was 0.49, up 0.02 from the end of the previous consolidated fiscal year.」
Regarding the theme of reducing interest-bearing debt, the balance and D/E ratio increased slightly from the end of the previous fiscal year at the end of the current quarter. - FY2023-Q1AdvancedAnnual report
「Interest-bearing debt was ¥4,353 million, down ¥360 million from the end of the previous consolidated fiscal year. As a result, the ratio of interest-bearing debt to equity (D/E ratio) was 0.45, down 0.02 from the end of the previous consolidated fiscal year.」
Reported progress in reducing interest-bearing debt to ¥4.353 billion and lowering the D/E ratio to 0.45. - FY2022AdvancedAnnual report
「During the fiscal year, cash flow generated total inflows of ¥2.281 billion from underlying operating cash flow, defined as operating cash flow excluding changes in working capital, and asset sales, including sales of cross-held shares. These inflows were allocated to ¥655 million of investments, mostly in fixed assets such as manufacturing equipment, and ¥299 million of shareholder returns in the form of dividends.」
Allocated inflows from underlying operating cash flow and asset sales to growth investments, shareholder returns and repayment of interest-bearing debt. The policy of investing more than ¥2.5 billion in growth investments and generating more than ¥4.5 billion in cumulative underlying operating cash flow over 3 years during the Medium-Term Management Plan period also remains in place. - FY2022-Q3AdvancedAnnual report
「Interest-bearing debt was ¥4,714 million, down ¥868 million from the end of the previous consolidated fiscal year. As a result, the ratio of interest-bearing debt to equity (D/E ratio) was 0.49, down 0.15 from the end of the previous consolidated fiscal year.」
Reported progress in improving financial soundness, with interest-bearing debt and the D/E ratio declining significantly from the end of the previous fiscal year. - FY2022-Q2AdvancedAnnual report
「Interest-bearing debt was ¥5,028 million, down ¥554 million from the end of the previous consolidated fiscal year. As a result, the ratio of interest-bearing debt to equity (D/E ratio) was 0.54, down 0.10 from the end of the previous consolidated fiscal year.」
Reported progress in reducing interest-bearing debt to ¥5.028 billion, a decrease of ¥554 million from the end of the previous fiscal year, with the D/E ratio down 0.10. - FY2022-Q1AdvancedAnnual report
「Interest-bearing debt was ¥5,554 million, down ¥28 million from the end of the previous consolidated fiscal year. As a result, the ratio of interest-bearing debt to equity (D/E ratio) was 0.61, down 0.03 from the end of the previous consolidated fiscal year.」
Reported progress in reducing interest-bearing debt, with the balance at ¥5.554 billion, down ¥28 million from the end of the previous fiscal year, and a D/E ratio of 0.61. - FY2021Continued increase in interest-bearing debt and maintenance of financial capacityAnnual report
「The company plans to allocate more than ¥2.5 billion to growth investments during the period of its Medium-Term Management Plan 2020-2022. It has set a three-year cumulative target of more than ¥4.5 billion for underlying operating cash flow during the plan period, defined as operating cash flow less changes in working capital, and will allocate the funds primarily to growth investments.」
While presenting a financial strategy of allocating funds to growth investments using the cash management system and cash flow, interest-bearing debt at the end of the fiscal year increased by ¥112 million from the end of the previous fiscal year. - FY2021-Q3Reacceleration in interest-bearing debtAnnual report
「Interest-bearing debt increased by ¥340 million from the end of the previous consolidated fiscal year to ¥5.810 billion. As a result, the D/E ratio was 0.69, up 0.03 from the end of the previous consolidated fiscal year.」
Against the trend of reducing interest-bearing debt that continued through FY2020, interest-bearing debt increased by ¥340 million at the end of the third quarter, and the D/E ratio also rose to 0.69. - FY2021-Q2AdvancedAnnual report
「Working capital, calculated as trade receivables plus inventories less trade payables, decreased by ¥794 million from the end of the previous consolidated fiscal year to ¥4.320 billion. This reflected progress in collecting trade receivables that had accumulated by the end of the previous consolidated fiscal year. Interest-bearing debt decreased by ¥226 million from the end of the previous consolidated fiscal year to ¥5.243 billion. As a result, the D/E ratio was 0.64, down 0.02 from the end of the previous consolidated fiscal year.」
As collection of trade receivables progressed, working capital decreased by ¥794 million. Interest-bearing debt also decreased by ¥226 million to ¥5.243 billion, lowering the D/E ratio to 0.64. - FY2021-Q1Temporary increase in interest-bearing debtAnnual report
「Interest-bearing debt increased by ¥235 million from the end of the previous consolidated fiscal year to ¥5.705 billion. As a result, the ratio of interest-bearing debt to equity, or the D/E ratio, was 0.70, up 0.04 from the end of the previous consolidated fiscal year.」
Against the trend of reducing interest-bearing debt through the previous fiscal year, interest-bearing debt increased by ¥235 million at the end of the first quarter, while the D/E ratio also rose by 0.04. - FY2020AdvancedAnnual report
「② Interest-bearing debt decreased by ¥145 million, from ¥5.616 billion to ¥5.470 billion.」
The company advanced measures including the operation of a cash management system and reduced interest-bearing debt from ¥5.616 billion at the end of the previous fiscal year to ¥5.470 billion. - FY2020-Q3AdvancedAnnual report
「Total liabilities at the end of the third quarter of the current consolidated fiscal year were ¥14.293 billion, down ¥87 million from the end of the previous consolidated fiscal year. The main reasons for the decrease in liabilities were a ¥620 million increase in short-term borrowings, offset by decreases of ¥376 million in notes and accounts payable and ¥343 million in bonds and long-term borrowings.」
While short-term borrowings increased by ¥620 million, bonds and long-term borrowings decreased by ¥343 million, indicating progress in reducing interest-bearing debt. - FY2020-Q2AdvancedAnnual report
「The main reasons for the decrease in liabilities were decreases of ¥588 million in notes and accounts payable and ¥467 million in bonds and long-term borrowings. The main uses of cash included ¥637 million for repayment of long-term borrowings, ¥88 million for redemption of bonds and ¥298 million for dividend payments.」
By the end of the second quarter, bonds and long-term borrowings had decreased by ¥467 million, indicating progress in reducing interest-bearing debt through the repayment of long-term borrowings and redemption of bonds. - FY2019AdvancedAnnual report
「In addition to improving cash efficiency by accelerating the collection of trade receivables, we have begun operating a cash management system as a measure to maintain financial soundness and reduce interest-bearing debt so that we can respond to future changes in financial conditions. Interest-bearing debt, including borrowings and lease liabilities, stood at ¥5.616 billion at the end of the fiscal year, while cash and cash equivalents stood at ¥4.817 billion.」
Began operating a cash management system and reduced interest-bearing debt to ¥5.616 billion. - FY2019-Q3AdvancedAnnual report
「Total liabilities at the end of the third quarter of the current consolidated fiscal year were ¥14.028 billion, down ¥151 million from the end of the previous consolidated fiscal year. The main reasons for the decrease in liabilities were a ¥624 million increase in notes and accounts payable, offset by a ¥747 million decrease in long-term and current borrowings and bonds.」
As of the end of the third quarter, long-term and current borrowings and bonds had decreased by ¥747 million, indicating progress in reducing interest-bearing debt. - FY2019-Q2AdvancedAnnual report
「The main reasons for the decrease in liabilities were a ¥240 million increase in notes and accounts payable, offset by decreases of ¥183 million in electronically recorded obligations and ¥417 million in long-term and current borrowings and bonds.」
Long-term and current borrowings and bonds decreased by ¥417 million, indicating progress in reducing interest-bearing debt. - FY2018First statedAnnual report
「In addition to improving cash efficiency by accelerating the collection of trade receivables, we are taking steps to maintain financial soundness and reduce interest-bearing debt so that we can respond to future changes in financial conditions. Interest-bearing debt, including borrowings and lease liabilities, stood at ¥6.173 billion at the end of the fiscal year, while cash and cash equivalents stood at ¥5.1 billion.」
Record for the first time as an independent theme the measures to improve cash efficiency and financial soundness by combining accelerated collection of trade receivables, interest-bearing debt reduction and the maintenance of liquidity on hand.