Risk of Reliance on Interest-Bearing Debt and Failure to Improve Financial Strength
First written in FY2016. 17 of 35 entries say "Mitigated", first in FY2019-Q1. Latest entry: 2026-11-10.
Medical System Network moved to the "Worse" side of this theme in 2016, 5 years before the typical company in this theme (2021).
The whole theme swung hardest in 2020: 64 of 142 companies on the "Worse" side.
79 other companies' latest entry also says "Mitigated".
- FY2026WorsenedAnnual report
「Meanwhile, liabilities totaled ¥62,686 million, an increase of ¥8,445 million from the end of the previous fiscal year. Current liabilities totaled ¥34,592 million, an increase of ¥10,215 million from the end of the previous fiscal year. This was mainly due to an increase in short-term borrowings.」
Current liabilities and total liabilities increased due to an increase in short-term borrowings. Interest-bearing debt dependence was 47.0%, up from 42.2% in the previous fiscal year. - FY2026-H1WorsenedAnnual report
「Liabilities totaled ¥54,480 million, an increase of ¥239 million from the end of the previous fiscal year. Current liabilities totaled ¥26,769 million, an increase of ¥2,392 million from the end of the previous fiscal year. This was mainly due to an increase in short-term borrowings, despite decreases in long-term borrowings due within one year, income taxes payable and the provision for bonuses. Non-current liabilities totaled ¥27,710 million, a decrease of ¥2,152 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
While long-term borrowings and non-current liabilities decreased, current liabilities and total liabilities increased due to an increase in short-term borrowings. The financial position showed both improvement and deterioration. - FY2025MitigatedAnnual report
「The interest-bearing debt dependence ratio of our group, defined as interest-bearing debt as a percentage of total assets, was 42.2% for the consolidated fiscal year. We intend to improve our financial position by increasing profitability and strengthening shareholders' equity.」
Interest-bearing debt dependence was 42.2%, and the policy of improving the financial position continues. The equity ratio also rose to 23.0%. Meanwhile, total liabilities increased from the end of the previous fiscal year due to increases in short-term borrowings and other items. - FY2025-H1WorsenedAnnual report
「Liabilities totaled ¥54,708 million, an increase of ¥1,777 million from the end of the previous fiscal year. Current liabilities totaled ¥28,048 million, an increase of ¥4,834 million from the end of the previous fiscal year. This was mainly due to an increase in short-term borrowings. Non-current liabilities totaled ¥26,659 million, a decrease of ¥3,057 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
While long-term borrowings and non-current liabilities decreased, current liabilities and total liabilities increased due to an increase in short-term borrowings. The financial position deteriorated with respect to short-term borrowings. - FY2024-Q2MitigatedAnnual report
「Liabilities totaled ¥51,057 million, a decrease of ¥677 million from the end of the previous fiscal year. Non-current liabilities totaled ¥28,899 million, a decrease of ¥1,486 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities, non-current liabilities and long-term borrowings decreased from the end of the previous fiscal year, and the financial position improved partially from the deterioration seen in the previous quarter. - FY2024-Q1WorsenedAnnual report
「Meanwhile, liabilities totaled ¥53,465 million, an increase of ¥1,729 million from the end of the previous fiscal year. Current liabilities totaled ¥23,348 million, an increase of ¥1,998 million from the end of the previous fiscal year. This was mainly due to an increase in accounts payable.」
Total liabilities and current liabilities increased from the end of the previous fiscal year, and short-term borrowings also increased from ¥1,016 million to ¥1,664 million. Although non-current liabilities decreased, the situation regarding improvement of the financial position deteriorated. - FY2023-Q3WorsenedAnnual report
「Liabilities totaled ¥54,395 million, an increase of ¥4,740 million from the end of the previous fiscal year. Current liabilities totaled ¥24,341 million, an increase of ¥3,905 million from the end of the previous fiscal year. This was mainly due to increases in accounts payable and short-term borrowings. Non-current liabilities totaled ¥30,053 million, an increase of ¥834 million from the end of the previous fiscal year. This was mainly due to an increase in lease liabilities included in other non-current liabilities, despite a decrease in long-term borrowings.」
Total liabilities and current liabilities increased from the end of the previous fiscal year, and short-term borrowings and lease liabilities also increased. The situation regarding dependence on interest-bearing debt and improvement of the financial position is worsening. - FY2023-Q2WorsenedAnnual report
「Liabilities totaled ¥50,527 million, an increase of ¥872 million from the end of the previous fiscal year. Current liabilities totaled ¥20,966 million, an increase of ¥530 million from the end of the previous fiscal year. This was mainly due to an increase in short-term borrowings.」
Total liabilities increased by ¥872 million from the end of the previous fiscal year, and short-term borrowings also increased by ¥500 million. Meanwhile, long-term borrowings decreased, and the equity ratio rose slightly. - FY2023-Q1WorsenedAnnual report
「Meanwhile, liabilities totaled ¥51,788 million, an increase of ¥2,134 million from the end of the previous fiscal year. Current liabilities totaled ¥21,146 million, an increase of ¥710 million from the end of the previous fiscal year. This was mainly due to increases in accounts payable and short-term borrowings, despite a decrease in the provision for bonuses. Non-current liabilities totaled ¥30,642 million, an increase of ¥1,423 million from the end of the previous fiscal year. This was mainly due to an increase in lease liabilities included in other non-current liabilities.」
Total liabilities and both current and non-current liabilities increased from the end of the previous fiscal year, and short-term borrowings and lease liabilities also increased. The equity ratio declined from 21.1% to 20.2%. - FY2022MitigatedAnnual report
「Our group's dependence on interest-bearing debt in the current fiscal year, measured as interest-bearing debt as a percentage of total assets, was 47.0%.」
Interest-bearing debt dependence declined from 50.5% in the previous fiscal year to 47.0%, and the policy of improving the financial position continues. - FY2022-Q3MitigatedAnnual report
「Liabilities totaled ¥52,183 million, a decrease of ¥1,076 million from the end of the previous fiscal year. Non-current liabilities totaled ¥25,143 million, a decrease of ¥2,698 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities, non-current liabilities and long-term borrowings decreased from the end of the previous fiscal year, and the financial position continued to improve partially. - FY2022-Q2MitigatedAnnual report
「Liabilities totaled ¥49,928 million, a decrease of ¥3,332 million from the end of the previous fiscal year. Non-current liabilities totaled ¥25,811 million, a decrease of ¥2,030 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities, non-current liabilities and long-term borrowings decreased from the end of the previous fiscal year, and the situation regarding dependence on interest-bearing debt and the financial position improved partially. - FY2022-Q1MitigatedAnnual report
「Meanwhile, liabilities totaled ¥51,314 million, a decrease of ¥1,945 million from the end of the previous fiscal year. Non-current liabilities totaled ¥26,688 million, a decrease of ¥1,153 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities, non-current liabilities and long-term borrowings decreased from the end of the previous fiscal year, and the financial position continued to improve partially. - FY2021MitigatedAnnual report
「Our group's dependence on interest-bearing debt in the current fiscal year, measured as interest-bearing debt as a percentage of total assets, was 50.5%. Our policy is to improve our financial position through higher earnings capacity and stronger equity capital.」
Interest-bearing debt dependence declined from 56.4% in the previous fiscal year to 50.5%, and long-term borrowings also decreased. The policy of improving the financial position continues. - FY2021-Q3MitigatedAnnual report
「Liabilities totaled ¥55,181 million, a decrease of ¥1,864 million from the end of the previous fiscal year. Non-current liabilities totaled ¥30,507 million, a decrease of ¥3,241 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities, non-current liabilities and long-term borrowings decreased from the end of the previous fiscal year, and the equity ratio also rose from 14.2% to 16.7%. As short-term borrowings increased, the improvement in the financial position was partial. - FY2021-Q2MitigatedAnnual report
「Liabilities totaled ¥53,451 million, a decrease of ¥3,594 million from the end of the previous fiscal year. Non-current liabilities totaled ¥31,518 million, a decrease of ¥2,231 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities, non-current liabilities and long-term borrowings decreased from the end of the previous fiscal year, and the equity ratio also rose from 14.2% to 15.5%. The financial position improved partially during the quarter. - FY2021-Q1Decrease in liabilities and decline in equity ratioAnnual report
「Meanwhile, liabilities totaled ¥56,406 million, a decrease of ¥639 million from the end of the previous fiscal year. Non-current liabilities totaled ¥32,584 million, a decrease of ¥1,165 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities and long-term borrowings decreased, while short-term borrowings increased, and the equity ratio declined from 14.2% to 13.8%. The financial position showed both improvement and deterioration. - FY2020-Q3MitigatedAnnual report
「Liabilities totaled ¥56,235 million, a decrease of ¥1,938 million from the end of the previous fiscal year. Non-current liabilities totaled ¥31,878 million, a decrease of ¥2,450 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities, non-current liabilities and long-term borrowings decreased from the end of the previous fiscal year. The financial position has improved partially. - FY2020-Q2MitigatedAnnual report
「Liabilities totaled ¥55,798 million, a decrease of ¥2,375 million from the end of the previous fiscal year. Current liabilities totaled ¥23,014 million, a decrease of ¥829 million from the end of the previous fiscal year. This was mainly due to decreases in short-term borrowings and long-term borrowings due within one year, despite an increase in accounts payable. Non-current liabilities totaled ¥32,783 million, a decrease of ¥1,545 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities, short-term borrowings, long-term borrowings due within one year and long-term borrowings decreased from the end of the previous fiscal year. The equity ratio also increased from 15.6% to 16.2%. - FY2020-Q1MitigatedAnnual report
「Meanwhile, liabilities totaled ¥57,152 million, a decrease of ¥1,021 million from the end of the previous fiscal year. Non-current liabilities totaled ¥33,732 million, a decrease of ¥596 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities and non-current liabilities decreased, and long-term borrowings also decreased. The equity ratio rose slightly from 15.6% at the end of March 2019 to 15.8%, indicating a temporary improvement in the financial position. - FY2019WorsenedAnnual report
「Our group's dependence on interest-bearing debt in the current fiscal year, measured as interest-bearing debt as a percentage of total assets, was 56.4%.」
Interest-bearing debt dependence increased from 53.8% in the previous fiscal year to 56.4%. The equity ratio also declined from 16.9% to 15.6%, indicating a deterioration in the position with respect to improving the financial position. - FY2019-Q3WorsenedAnnual report
「Liabilities totaled ¥54,567 million, an increase of ¥2,392 million from the end of the previous fiscal year. Current liabilities totaled ¥23,837 million, an increase of ¥2,068 million from the end of the previous fiscal year. This was mainly due to increases in accounts payable and short-term borrowings. Non-current liabilities totaled ¥30,729 million, an increase of ¥324 million from the end of the previous fiscal year. This was mainly due to an increase in long-term borrowings.」
Total liabilities, short-term borrowings and long-term borrowings increased from the end of the previous fiscal year. The equity ratio also declined to 16.4%, indicating a deterioration in dependence on liabilities in efforts to improve the financial position. - FY2019-Q2MitigatedAnnual report
「Liabilities totaled ¥50,988 million, a decrease of ¥1,185 million from the end of the previous fiscal year. Current liabilities totaled ¥21,300 million, a decrease of ¥468 million from the end of the previous fiscal year. This was mainly due to decreases in accounts payable and income taxes payable, despite increases in short-term borrowings and long-term borrowings due within one year. Non-current liabilities totaled ¥29,688 million, a decrease of ¥716 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities and non-current liabilities, including long-term borrowings, decreased, while the equity ratio rose from 16.9% to 17.4%. Short-term borrowings and other items increased, so the improvement in the financial position was partial. - FY2019-Q1MitigatedAnnual report
「Meanwhile, liabilities totaled ¥51,337 million, a decrease of ¥836 million from the end of the previous fiscal year. Current liabilities totaled ¥21,965 million, an increase of ¥196 million from the end of the previous fiscal year. This was mainly due to increases in accounts payable and short-term borrowings, despite a decrease in income taxes payable. Non-current liabilities totaled ¥29,371 million, a decrease of ¥1,033 million from the end of the previous fiscal year. This was mainly due to a decrease in long-term borrowings.」
Total liabilities decreased by ¥836 million, and long-term borrowings also decreased. Although short-term borrowings increased, the equity ratio rose slightly from 16.9% at the end of the previous fiscal year to 17.2%, indicating a partial improvement in the financial position. - FY2018WorsenedAnnual report
「Our group's dependence on interest-bearing debt in the current fiscal year, measured as interest-bearing debt as a percentage of total assets, was 53.8%. Although our policy is to improve our financial position through higher earnings capacity and stronger equity capital, if we are unable to improve our financial position as planned, our group's business plans and performance may be affected.」
Interest-bearing debt dependence increased from 47.4% in the previous fiscal year to 53.8%. The equity ratio also declined from 20.1% to 16.9%, indicating a quantified increase in the risk associated with improving the financial position. - FY2018-Q3WorsenedAnnual report
「Liabilities totaled ¥48,487 million, an increase of ¥8,394 million from the end of the previous fiscal year. Current liabilities totaled ¥20,986 million, an increase of ¥4,066 million from the end of the previous fiscal year. This was mainly due to increases in accounts payable, short-term borrowings and long-term borrowings due within one year. Non-current liabilities totaled ¥27,500 million, an increase of ¥4,328 million from the end of the previous fiscal year. This was mainly due to an increase in long-term borrowings.」
Short-term borrowings, long-term borrowings due within one year and long-term borrowings increased, and total liabilities also increased from the end of the previous fiscal year. The equity ratio was 17.5%, up slightly from 17.0% at the end of the second quarter but below 20.1% at the end of the previous fiscal year. - FY2018-Q2WorsenedAnnual report
「Liabilities totaled ¥47,646 million, an increase of ¥7,553 million from the end of the previous fiscal year. Current liabilities totaled ¥20,747 million, an increase of ¥3,827 million from the end of the previous fiscal year. This was mainly due to increases in short-term borrowings and long-term borrowings due within one year. Non-current liabilities totaled ¥26,898 million, an increase of ¥3,725 million from the end of the previous fiscal year. This was mainly due to an increase in long-term borrowings.」
Total liabilities, short-term borrowings and long-term borrowings increased, while the equity ratio declined from 20.1% at the end of the previous fiscal year to 17.0%. Dependence on liabilities in efforts to improve the financial position has further worsened. - FY2017WorsenedAnnual report
「Our group's dependence on interest-bearing debt in the current fiscal year, measured as interest-bearing debt as a percentage of total assets, was 47.4%. Although our policy is to improve our financial position by reducing borrowings through higher earnings capacity and stronger equity capital, if we are unable to improve our financial position as planned, our group's business plans and performance may be affected.」
Interest-bearing debt dependence was 47.4%, up from 44.6% in the previous fiscal year. Reducing borrowings and strengthening equity capital are identified as the response measures. - FY2017-Q3WorsenedAnnual report
「Non-current liabilities totaled ¥21,268 million, an increase of ¥3,747 million from the end of the previous fiscal year. This was mainly due to an increase in long-term borrowings.」
Total liabilities totaled ¥41,817 million, and long-term borrowings increased to ¥16,922 million. The equity ratio was 19.1%, below 20.3% at the end of the previous fiscal year. - FY2017-Q2WorsenedAnnual report
「Liabilities totaled ¥40,136 million, an increase of ¥1,554 million from the end of the previous fiscal year. Current liabilities totaled ¥18,229 million, a decrease of ¥2,831 million from the end of the previous fiscal year. This was mainly due to decreases in accounts payable, short-term borrowings and income taxes payable. Non-current liabilities totaled ¥21,907 million, an increase of ¥4,386 million from the end of the previous fiscal year. This was mainly due to an increase in long-term borrowings.」
Although short-term borrowings decreased, non-current liabilities, including long-term borrowings, increased by ¥4,386 million, and total liabilities increased by ¥1,554 million. The equity ratio was 19.5%, below 20.3% at the end of the previous fiscal year. - FY2017-Q1WorsenedAnnual report
「This was mainly due to an increase in short-term borrowings.」
Short-term borrowings increased from ¥3,607 million at the end of the previous fiscal year to ¥7,125 million, while the equity ratio declined from 20.3% to 19.1%. - FY2016First statedAnnual report
「Our group's dependence on interest-bearing debt in the current fiscal year, measured as interest-bearing debt as a percentage of total assets, was 44.6%. Our policy is to improve our financial position by reducing borrowings through higher earnings capacity and stronger equity capital.」
Interest-bearing debt dependence was 44.6%, with reducing borrowings and strengthening equity capital identified as the response measures.