Interest Rate Risk on Borrowings and Hedging with Interest Rate Swaps
First written in FY2016. 8 of 10 entries say "Mitigated", first in FY2018. Latest entry: FY2026.
The whole theme swung hardest in 2025: 13 of 67 companies on the "Worse" side.
12 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Borrowings comprise loans primarily used to finance capital expenditures and special loans provided in response to the spread of COVID-19, and the longest repayment period extends to 5 years after the fiscal year-end.」
The borrowing structure, including special loans, has continued, but the longest repayment period was shortened from 6 years in the previous fiscal year to 5 years. - FY2025MitigatedAnnual report
「Borrowings comprise loans primarily used to finance capital expenditures and special loans provided in response to the spread of COVID-19, and the longest repayment period extends to 6 years after the fiscal year-end.」
The borrowing structure, including special loans, has continued, but the longest repayment period was shortened from 7 years in the previous fiscal year to 6 years. - FY2024MitigatedAnnual report
「Borrowings comprise loans primarily used to finance capital expenditures and special loans provided in response to the spread of COVID-19, and the longest repayment period extends to 7 years after the fiscal year-end.」
The borrowing structure, including special loans, has continued, but the longest repayment period was shortened from 8 years in the previous fiscal year to 7 years. - FY2023MitigatedAnnual report
「Borrowings comprise loans primarily used to finance capital expenditures and special loans provided in response to the spread of COVID-19, and the longest repayment period extends to 8 years after the fiscal year-end.」
The borrowing structure, including special loans, has continued, but the longest repayment period changed from 9 years in the previous fiscal year to 8 years. - FY2022MitigatedAnnual report
「Borrowings comprise loans primarily used to finance capital expenditures and special loans provided in response to the spread of COVID-19, and the longest repayment period extends to 9 years after the fiscal year-end.」
The borrowing structure, including special loans to address the infectious disease, has continued, but the longest repayment period changed from 10 years in the previous fiscal year to 9 years. - FY2021Changes in the borrowing structure, including special loansAnnual report
「Borrowings comprise loans primarily used to finance capital expenditures and special loans provided in response to the spread of COVID-19, and the longest repayment period extends to 10 years after the fiscal year-end.」
Special loans to address the infectious disease were added to the borrowings, bringing the longest repayment period to 10 years. No derivative transactions were conducted during the current fiscal year. - FY2020MitigatedAnnual report
「Borrowings are primarily used to finance capital expenditures, and the longest repayment period extends to 7 years after the fiscal year-end. Derivative transactions are limited to hedging fluctuations in the interest payable on borrowings, and the company does not engage in speculative transactions. The borrowings related to derivative transactions were fully repaid in the previous consolidated fiscal year.」
The longest repayment period for borrowings changed from 8 years to 7 years, and the borrowings subject to interest rate swaps remained fully repaid in the previous fiscal year. - FY2019MitigatedAnnual report
「Borrowings are primarily used to finance capital expenditures, and the longest repayment period extends to 8 years after the fiscal year-end. Some of these borrowings are exposed to interest rate risk and are hedged using derivative transactions, specifically interest rate swaps. Borrowings subject to derivative transactions were fully repaid during the current consolidated fiscal year through early repayment.」
The company discloses hedging through interest rate swaps, while the related borrowings were fully repaid during the current fiscal year through early repayment. - FY2018MitigatedAnnual report
「Borrowings are primarily used to finance capital expenditures, and the longest repayment period extends to 9 years after the fiscal year-end. Some of these borrowings are exposed to interest rate risk and are hedged using derivative transactions, specifically interest rate swaps.」
The longest repayment period changed from 14 years as previously disclosed to 9 years, while hedging of interest rate risk on borrowings has continued. - FY2016First statedAnnual report
「Borrowings are primarily used to finance capital expenditures, and the longest repayment period extends to 14 years after the fiscal year-end. Some of these borrowings are exposed to interest rate risk and are hedged using derivative transactions, specifically interest rate swaps.」
The company discloses the long-term repayment period and interest rate risk associated with borrowings for capital expenditure funding, and hedges the risk using interest rate swaps.