Reliance on Interest-Bearing Debt and Deteriorating Financing Conditions
First written in FY2020. 4 of 8 entries say "Worsened", first in FY2025. Latest entry: 2026-08-10.
Palma moved to the "Worse" side of this theme in 2025, 4 years after 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".
- FY2025Increase in the interest-bearing debt ratioAnnual report
「Interest-bearing debt accounted for 23.7% of total assets in the fiscal year ending September 2025.」
The interest-bearing debt ratio rose from 20.2% in the fiscal year ended September 2024 to 23.7%, increasing reliance on borrowings to fund development. - FY2024MitigatedAnnual report
「Because the company primarily finances business funds, including the costs of acquiring land for self-storage facility development and part of construction costs in the turnkey solutions service, through borrowings from financial institutions, interest-bearing debt represented 20.2% of total assets in the fiscal year ended September 2024.」
The ratio of interest-bearing debt to total assets fell from 27.5% in the fiscal year ended September 2023 to 20.2%. - FY2023MitigatedAnnual report
「Because the company primarily finances business funds, including the costs of acquiring land for self-storage facility development and part of construction costs in the turnkey solutions service, through borrowings from financial institutions, interest-bearing debt represented 27.5% of total assets in the fiscal year ended September 2023.」
The ratio of interest-bearing debt to total assets declined from 31.0% in the fiscal year ended September 2022 to 27.5% in the fiscal year ended September 2023. The company continues to monitor lending conditions at financial institutions and maintain a funding policy that does not depend on any specific financial institution. - FY2022MitigatedAnnual report
「Because the company primarily finances business funds, including the costs of acquiring land for self-storage facility development and part of construction costs in the turnkey solutions service, through borrowings from financial institutions, interest-bearing debt represented 31.0% of total assets in the fiscal year ended September 2022.」
Reliance on interest-bearing debt declined from 49.3% in the fiscal year ended September 2020 to 31.0%. Countermeasures include monitoring lending conditions at financial institutions and raising funds without relying on any specific financial institution. - FY2020First statedAnnual report
「Because the company primarily finances business funds, including the costs of acquiring land for self-storage facility development and part of construction costs in the turnkey solutions service, through borrowings from financial institutions, interest-bearing debt represented 49.3% of total assets in the fiscal year ended September 2020.」
The company quantified its reliance on interest-bearing debt for development funding at 49.3% of total assets for the first time, and indicated the potential impact of higher interest rates, increases in the investment market and risk premiums, and difficulties in raising funds.