Changes in Important Affiliates and Higher Borrowings to Fund M&A
First written in FY2017. 10 of 20 entries say "Worsened", first in FY2020. Latest entry: FY2026.
Cross Marketing Group moved to the "Worse" side of this theme in 2026, 2 years after the typical company in this theme (2024).
The whole theme swung hardest in 2025: 16 of 29 companies on the "Worse" side.
15 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「During the consolidated fiscal year, the company raised ¥3,000 million in long-term borrowings to expand the digital marketing business, maintain the group’s business base and invest in continued growth.」
The company raised ¥3,000 million in long-term borrowings to expand the digital marketing business and for other purposes, increasing the balance of long-term borrowings. The risk of increased borrowings associated with M&A and growth investment has expanded again. - FY2026-H1MitigatedAnnual report
「The main factor was a ¥556 million decrease in cash outflows for the repayment of long-term borrowings.」
The company repaid ¥556 million in long-term borrowings, continuing to reduce borrowings in response to the risk of increased borrowings associated with M&A and growth investment. - FY2025MitigatedAnnual report
「While there was a ¥1,154 million decrease in cash outflows for the repayment of long-term borrowings and a ¥373 million decrease in outflows for the acquisition of treasury shares, there was also a ¥400 million increase in proceeds from long-term borrowings.」
The company raised ¥400 million through long-term borrowings while repaying ¥1,154 million, and total liabilities also decreased by ¥1,113 million from the end of the previous fiscal year. The risk of increased borrowings associated with M&A, growth investment and other activities was partially mitigated during the fiscal year. - FY2025-H1MitigatedAnnual report
「The main factors were a ¥598 million decrease in cash outflows for the repayment of long-term borrowings and ¥373 million in outflows for the acquisition of treasury shares.」
The company repaid ¥598 million in long-term borrowings, reducing borrowings in response to the risk of increased borrowings associated with M&A, growth investment and other activities. - FY2024-Q2MitigatedAnnual report
「The main factor was a ¥500 million decrease in cash outflows for the repayment of long-term borrowings.」
The company repaid ¥500 million in long-term borrowings during the quarter, continuing to reduce borrowings in response to the risk of increased borrowings associated with M&A, growth investment and other activities. - FY2024-Q1MitigatedAnnual report
「Non-current liabilities were ¥2,855 million, down ¥218 million year on year. The main component was ¥2,536 million in long-term borrowings. As a result, liabilities were ¥7,579 million, down ¥641 million year on year.」
Non-current liabilities decreased by ¥218 million and total liabilities by ¥641 million from the end of the previous fiscal year, partially mitigating the risk of increased borrowings associated with M&A and growth investment during the quarter. - FY2023WorsenedAnnual report
「During the consolidated fiscal year, the company raised ¥2,100 million in long-term borrowings to expand the digital marketing business, implement a flexible capital policy in response to changes in the management environment and fund shareholder returns. It also repaid ¥839 million in long-term borrowings during the consolidated fiscal year.」
The company raised ¥2,100 million in long-term borrowings to expand the digital marketing business and fund its capital policy. Although it repaid ¥839 million, the balance of long-term borrowings increased from the end of the previous fiscal year, quantifying the risk of increased borrowings. - FY2023-Q3WorsenedAnnual report
「Long-term borrowings 1,674,373 2,028,717 Total liabilities 6,997,723 7,396,576」
From the end of the previous consolidated fiscal year, long-term borrowings increased from ¥1,674,373 thousand to ¥2,028,717 thousand, while total liabilities increased from ¥6,997,723 thousand to ¥7,396,576 thousand, indicating continued increases in borrowings and liabilities. - FY2023-Q2WorsenedAnnual report
「The main factors were a ¥1,000 million increase in proceeds from long-term borrowings, offset by ¥492 million in outflows for the acquisition of shares in a subsidiary without a change in the scope of consolidation and a ¥404 million decrease in outflows for the repayment of long-term borrowings.」
The company disclosed ¥1,000 million in funding from long-term borrowings and ¥492 million for the acquisition of subsidiary shares during the same period, shifting from the previous period’s focus on repaying borrowings to funding accompanied by an increase in borrowings. - FY2022MitigatedAnnual report
「During the consolidated fiscal year, the company raised ¥1,800 million in short-term borrowings to meet temporary funding needs, but repaid the full amount. It also repaid ¥903 million in long-term borrowings.」
In response to the risk of increased borrowings associated with M&A and other activities, the company repaid the full ¥1,800 million in short-term borrowings and also repaid ¥903 million in long-term borrowings. - FY2022-Q2MitigatedAnnual report
「The main factor was a ¥420 million decrease in cash outflows for the repayment of long-term borrowings.」
In response to the risk of increased borrowings associated with M&A, growth investment and other activities, the company repaid ¥420 million in long-term borrowings during the cumulative quarter, and continued to reduce borrowings. - FY2021MitigatedAnnual report
「During the consolidated fiscal year, the company repaid a total of ¥1,319 million in long-term and short-term borrowings.」
In response to the risk of increased borrowings associated with M&A, growth investment and other activities, the company repaid a total of ¥1,319 million in long-term and short-term borrowings, reducing interest-bearing debt. - FY2020WorsenedAnnual report
「As a result, borrowings, or interest-bearing debt, stood at ¥4,288 million at the end of the current fiscal year, an increase of ¥1,467 million, or 52.0%, from the end of the previous fiscal year.」
Borrowing to stabilize the financial base and fund growth investment brought interest-bearing debt to ¥4,288 million, up 52.0% from the end of the previous fiscal year. The risk of increased borrowings associated with M&A and other activities has been quantified. - FY2017First statedAnnual report
「Funding for M&A and other activities is provided through internal funds, borrowings from financial institutions and other sources, and the balance of borrowings may increase. In addition, if M&A or other activities result in a change involving a material affiliated company, this may affect our group’s financial position and performance.」
While pursuing M&A and the establishment of new subsidiaries, the company identifies increased borrowings resulting from the financing of these activities and changes involving material affiliated companies as risks.