Interest rate risk on variable-rate borrowings and hedging with interest rate swaps
First written in FY2019. 1 of 5 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2025: 11 of 65 companies on the "Worse" side.
103 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「There were no applicable matters in the consolidated fiscal year ended 31 March 2025.」
The disclosure stated that derivative transactions to which hedge accounting was applied, including interest rate swaps, continued not to exist. - FY2024Disappearance of the interest rate swap disclosureAnnual report
「There were no applicable matters in the consolidated fiscal year ended 31 March 2024.」
The interest rate swap transactions disclosed in the previous fiscal year were no longer included in the current fiscal year's disclosure of derivative transactions to which hedge accounting was applied. The risk associated with variable-rate borrowings itself continued to be disclosed. - FY2022Decline in the fair value of interest rate swapsAnnual report
「Interest rate swap transactions: fixed payments, variable receipts; long-term borrowings; 1,000,000; 1,000,000; 3,038」
The contract amount of interest rate swaps was maintained at 1,000,000, while the fair value fell from 5,940 in the previous fiscal year to 3,038. - FY2021Decrease in the amount of interest rate swap contractsAnnual report
「Special treatment for interest rate swaps Interest rate swap transactions Fixed payments, variable receipts Long-term borrowings 1,000,000 1,000,000 5,940」
The contract amount of interest rate swaps fell from ¥3 billion in the previous fiscal year to ¥1 billion, changing the amount designated as the hedged exposure against interest rate fluctuation risk on long-term borrowings. - FY2019First statedAnnual report
「Variable-rate borrowings are exposed to interest rate fluctuation risk. For some of the long-term borrowings, however, the Company uses derivative transactions, specifically interest rate swaps, as hedging instruments under individual contracts to avoid the risk of fluctuations in interest payable and fix interest payments.」
The interest rate fluctuation risk on variable-rate borrowings and the use of interest rate swaps for some long-term borrowings were described for the first time.