Interest rate risk on interest-bearing debt
First written in FY2017. 4 of 9 entries say "Mitigated", first in FY2018. Latest entry: FY2026.
Hokuetsu moved to the "Worse" side of this theme in 2019, 4 years before the typical company in this theme (2023).
The whole theme swung hardest in 2025: 31 of 96 companies on the "Worse" side.
40 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Net debt-to-equity ratio 0.23x 0.27x」
Due to an increase in net interest-bearing debt, the net debt-to-equity ratio rose from 0.23x in the previous fiscal year to 0.27x. - FY2025MitigatedAnnual report
「The ratio of the Group's interest-bearing debt to total assets was 25.1% at the end of the previous consolidated fiscal year and 21.2% at the end of the consolidated fiscal year under review. Accordingly, we are working to improve the efficiency of Group funds through measures including group financing.」
The interest-bearing debt ratio declined from 25.1% to 21.2%. - FY2024MitigatedAnnual report
「The ratio of the Group's interest-bearing debt to total assets was 26.7% at the end of the previous consolidated fiscal year and 25.1% at the end of the consolidated fiscal year under review.」
The interest-bearing debt ratio declined from 26.7% to 25.1%, and measures to improve funding efficiency through group financing and other means continue. - FY2023WorsenedAnnual report
「The ratio of the Group's interest-bearing debt to total assets was 26.3% at the end of the previous consolidated fiscal year and 26.7% at the end of the consolidated fiscal year under review.」
The interest-bearing debt ratio increased from 26.3% to 26.7%. Group financing continues as a measure to improve funding efficiency. - FY2022MitigatedAnnual report
「The ratio of the Group's interest-bearing debt to total assets was 31.4% at the end of the previous consolidated fiscal year and 26.3% at the end of the consolidated fiscal year under review. Accordingly, we are working to improve the efficiency of Group funds through measures including group financing.」
The interest-bearing debt ratio declined from 31.4% to 26.3%, and the Group is advancing measures to improve funding efficiency. - FY2021WorsenedAnnual report
「The ratio of the Group's interest-bearing debt to total assets was 31.0% at the end of the previous consolidated fiscal year and 31.4% at the end of the consolidated fiscal year under review.」
The interest-bearing debt ratio increased from 31.0% to 31.4%, rising further from 29.8% in the previous fiscal year. - FY2019WorsenedAnnual report
「The ratio of the Group's interest-bearing debt to total assets was 29.5% at the end of the previous consolidated fiscal year and 29.8% at the end of the consolidated fiscal year under review.」
The interest-bearing debt ratio increased from 29.5% to 29.8%, reversing the declines recorded through the previous fiscal year. - FY2018MitigatedAnnual report
「The ratio of the Group's interest-bearing debt to total assets was 32.2% at the end of the previous consolidated fiscal year and 29.5% at the end of the consolidated fiscal year under review.」
The interest-bearing debt ratio is stated as having declined from 32.2% to 29.5%. - FY2017First statedAnnual report
「Interest-bearing debt as a percentage of the Group’s total assets was 35.6% at the end of the previous consolidated fiscal year and 32.2% at the end of the current consolidated fiscal year. Future interest-rate trends may affect the Group’s operating results and financial position.」
The company reports interest-bearing debt ratios of 35.6% and 32.2% of total assets and identifies interest-rate movements as a risk.