Dependence on Interest-Bearing Debt and Rising Interest Rates
First written in FY2017. 16 of 24 entries say "Mitigated", first in FY2018. Latest entry: FY2027-H1.
Tri Chemical Laboratories moved to the "Worse" side of this theme in 2026, 5 years after the typical company in this theme (2021).
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
83 other companies' latest entry also says "Worsened".
- FY2027-H1WorsenedAnnual report
「At the end of the interim period of the current consolidated fiscal year, fixed liabilities stood at ¥5,281.653 million, up ¥1,760.824 million from the end of the previous consolidated fiscal year. This was mainly due to an increase in long-term borrowings and other factors.」
Fixed liabilities increased from ¥3,520.829 million at the end of the previous fiscal year to ¥5,281.653 million due to an increase in long-term borrowings, increasing exposure to interest-bearing debt and rising interest rates. - FY2026WorsenedAnnual report
「(Fixed liabilities) At the end of the current consolidated fiscal year, fixed liabilities stood at ¥3,520.829 million, up ¥2,346.115 million from the end of the previous consolidated fiscal year. This was mainly due to an increase in long-term borrowings and other factors.」
Fixed liabilities increased from ¥1,174.714 million at the end of the previous fiscal year to ¥3,520.829 million due to an increase in long-term borrowings, increasing exposure to interest-bearing debt and rising interest rates. - FY2026-H1MitigatedAnnual report
「At the end of the interim period of the current consolidated fiscal year, fixed liabilities stood at ¥937.755 million, down ¥236.958 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease in long-term borrowings and other factors.」
Fixed liabilities decreased to ¥937.755 million, continuing to indicate reduced exposure to interest-bearing debt and rising interest rates due to the decrease in long-term borrowings. - FY2025MitigatedAnnual report
「(Fixed liabilities) At the end of the current consolidated fiscal year, fixed liabilities stood at ¥1,174.714 million, down ¥566.109 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease in long-term borrowings and other factors.」
Fixed liabilities decreased, and long-term borrowings also declined from ¥1,212.920 million at the end of the previous fiscal year to ¥722.950 million. - FY2025-H1MitigatedAnnual report
「Proceeds from long-term borrowings — 200,000 Repayments of long-term borrowings △ 413,160 △ 380,677」
During the interim period, there were proceeds of ¥200 million from long-term borrowings, while repayments amounted to ¥380.677 million. The balance of fixed liabilities also decreased by ¥211.210 million due to the reduction in long-term borrowings. - FY2025-Q1Borrowings and repayments occurring concurrentlyAnnual report
「Proceeds from long-term borrowings — 200,000 Repayments of long-term borrowings △ 196,848 △ 189,487」
In the first quarter, proceeds of ¥200 million from long-term borrowings coincided with repayments of ¥189.487 million, and the balance of long-term borrowings declined slightly from ¥1,212.920 million to ¥1,209.900 million. - FY2024MitigatedAnnual report
「At the end of the current consolidated fiscal year, fixed liabilities stood at ¥1,740.824 million, down ¥823.004 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease in long-term borrowings and other factors.」
Fixed liabilities decreased by ¥823.004 million, while long-term borrowings also declined from ¥1,913.787 million at the end of the previous fiscal year to ¥1,212.920 million, indicating reduced exposure to interest-bearing debt and rising interest rates. - FY2024-Q3MitigatedAnnual report
「At the end of the third quarter of the current consolidated fiscal year, fixed liabilities stood at ¥1,911.338 million, down ¥652.489 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease in long-term borrowings and other factors.」
Fixed liabilities decreased by ¥652.489 million from the end of the previous fiscal year due to a decrease in long-term borrowings, continuing to indicate reduced exposure to interest-bearing debt. - FY2024-Q2MitigatedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, fixed liabilities stood at ¥2,113.039 million, down ¥450.788 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease in long-term borrowings and other factors.」
Fixed liabilities decreased by ¥450.788 million from the end of the previous consolidated fiscal year due to a decrease in long-term borrowings, indicating reduced exposure to interest-bearing debt. - FY2024-Q1MitigatedAnnual report
「At the end of the first quarter of the current consolidated fiscal year, fixed liabilities stood at ¥2,300.977 million, down ¥262.850 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease in long-term borrowings and other factors.」
Fixed liabilities decreased from the end of the previous fiscal year due to a decrease in long-term borrowings, indicating reduced exposure to interest-bearing debt. - FY2023MitigatedAnnual report
「Fixed liabilities stood at ¥2,563.828 million, down ¥939.264 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease in long-term borrowings and other factors.」
Fixed liabilities decreased by ¥939.264 million from the end of the previous fiscal year due to a decrease in long-term borrowings, indicating reduced exposure to interest-bearing debt. - FY2023-Q3MitigatedAnnual report
「At the end of the third quarter of the current consolidated fiscal year, fixed liabilities stood at ¥2,722.574 million, down ¥780.518 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease in long-term borrowings and other factors.」
Fixed liabilities decreased by ¥780.518 million from the end of the previous consolidated fiscal year due to a decrease in long-term borrowings, indicating reduced exposure to interest-bearing debt. - FY2023-Q2MitigatedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, fixed liabilities stood at ¥2,915.325 million, down ¥587.766 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease in long-term borrowings and other factors.」
Fixed liabilities decreased by ¥587.766 million from the end of the previous consolidated fiscal year due to a decrease in long-term borrowings, indicating reduced exposure to interest-bearing debt. - FY2023-Q1MitigatedAnnual report
「The balance of non-current liabilities at the end of the first quarter of the consolidated fiscal year decreased by ¥354.973 million from the end of the previous consolidated fiscal year to ¥3,148.118 million. This was mainly due to a decrease in long-term borrowings, among other factors.」
Fixed liabilities decreased by ¥354.973 million from the end of the previous consolidated fiscal year due to a decrease in long-term borrowings, indicating reduced exposure to interest-bearing debt. - FY2022MitigatedAnnual report
「(Non-current liabilities) The balance of non-current liabilities at the end of the consolidated fiscal year decreased by ¥472.816 million from the end of the previous consolidated fiscal year to ¥3,503.092 million. This was mainly due to a decrease in long-term borrowings, among other factors.」
The company states that non-current liabilities decreased from the end of the previous fiscal year due to a decline in long-term borrowings, and that short-term borrowings also decreased. - FY2022-Q3MitigatedAnnual report
「The balance of current liabilities at the end of the third quarter of the consolidated fiscal year decreased by ¥83.261 million from the end of the previous consolidated fiscal year to ¥3,207.199 million. This was mainly due to a decrease in short-term borrowings, despite increases in accounts payable and the current portion of long-term borrowings, among other factors. (Non-current liabilities) The balance of non-current liabilities at the end of the third quarter of the consolidated fiscal year decreased by ¥712.524 million from the end of the previous consolidated fiscal year to ¥3,263.384 million. This was mainly due to a decrease in long-term borrowings, among other factors.」
Short-term borrowings fell from ¥580 million at the end of the previous consolidated fiscal year to zero, while long-term borrowings also declined. Debt reduction and balance-sheet deleveraging have continued. - FY2022-Q2MitigatedAnnual report
「(Current liabilities) The balance of current liabilities at the end of the second quarter of the consolidated fiscal year decreased by ¥399.895 million from the end of the previous consolidated fiscal year to ¥2,890.564 million. This was mainly due to a decrease in short-term borrowings, among other factors. (Non-current liabilities) The balance of non-current liabilities at the end of the second quarter of the consolidated fiscal year decreased by ¥480.915 million from the end of the previous consolidated fiscal year to ¥3,494.993 million. This was mainly due to a decrease in long-term borrowings, among other factors.」
Current and non-current liabilities decreased from the end of the previous consolidated fiscal year due to declines in short-term and long-term borrowings. - FY2021WorsenedAnnual report
「As of the end of the consolidated fiscal year, interest-bearing debt accounted for 25.4% of the Group's total assets.」
Dependence on interest-bearing debt increased from 23.7% in the previous fiscal year to 25.4%, and the company continues to disclose the risk of higher interest expense when interest rates rise. - FY2020MitigatedAnnual report
「As of the end of the consolidated fiscal year, interest-bearing debt accounted for 23.7% of the Group's total assets.」
Dependence on interest-bearing debt declined from 24.3% in the previous fiscal year to 23.7%. However, the risk of higher interest expense when interest rates rise remains. - FY2019WorsenedAnnual report
「As of the end of the consolidated fiscal year, interest-bearing debt accounted for 24.3% of the Group's total assets.」
Dependence on interest-bearing debt declined from 24.8% in the previous fiscal year to 24.3%. Although this is below the historical level of 29.4%, it increased by 0.5 percentage points from the most recently disclosed figure. - FY2018MitigatedAnnual report
「As of the end of the current fiscal year, interest-bearing debt accounted for 24.8% of the Company's total assets.」
The company states that dependence on interest-bearing debt declined from 29.4% in FY2017 to 24.8%. However, it continues to indicate the potential impact of higher interest rates. - FY2017First statedAnnual report
「As of the end of the fiscal year under review, interest-bearing debt represented 29.4% of our total assets.」
The disclosure quantifies dependence on interest-bearing debt at 29.4% and notes the potential impact of higher interest expense if borrowing rates rise.