Borrowings, Interest Rate Fluctuations and Breaches of Financial Covenants
First written in FY2022. 6 of 7 entries say "Mitigated", first in FY2023. Latest entry: FY2026.
The whole theme swung hardest in 2017: 8 of 54 companies on the "Worse" side.
52 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「As of 31 March 2026, interest-bearing debt represented 15.1% of total assets under IFRS.」
The interest-bearing debt ratio fell from 18.7% in the previous fiscal year to 15.1%, while the balance of borrowings decreased from ¥14,800 million to ¥13,320 million. Interest rate risk continues to be disclosed. - FY2026-H1MitigatedAnnual report
「This was due to a ¥740 million reduction in borrowings from repayments.」
Borrowings decreased by ¥740 million through repayments, with the balance falling from ¥14,800 million to ¥14,060 million. Risks including interest rate fluctuations and breaches of financial covenants remain, but borrowings continue to decline. - FY2025MitigatedAnnual report
「As of 31 March 2025, interest-bearing debt accounted for 18.7% of total assets under IFRS.」
The interest-bearing debt ratio fell from 25.6% in the previous fiscal year to 18.7%. The company states that interest rate and funding risks remain even after refinancing and repayments. - FY2024-Q3MitigatedAnnual report
「Total liabilities at the end of the third quarter of the consolidated fiscal year were ¥28,610 million, an increase of ¥328 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥765 million increase in trade and other payables resulting from purchases of equipment related to the expansion of offices, partly offset by a ¥534 million decrease in borrowings resulting from repayments.」
Borrowings decreased by ¥534 million through repayments, with the balance declining from ¥17,998 million to ¥17,464 million. Although the risks of rising interest rates and breaches of financial covenants remain, borrowings have declined. - FY2024-Q2MitigatedAnnual report
「This was due to a ¥546 million decrease in borrowings resulting from repayments.」
Borrowings decreased by ¥546 million through repayments, with the balance declining from ¥17,998 million to ¥17,452 million. - FY2023MitigatedAnnual report
「As of 31 March 2023, interest-bearing debt accounted for 25.6% of total assets under IFRS.」
The interest-bearing debt ratio declined from 28.5% in the previous fiscal year to 25.6%, and borrowings were repaid, but the risks of rising interest rates and breaches of financial covenants remain. - FY2022First statedAnnual report
「As of the end of the consolidated fiscal year, interest-bearing debt accounted for 28.5% of total assets under IFRS. If interest rates rise in response to future trends in the financial markets and elsewhere, this may affect the company’s operating results.」
Against the backdrop of an interest-bearing debt ratio of 28.5%, borrowings totaling approximately ¥19.0 billion and financial covenants on syndicated loans, the company discloses the risks of rising interest rates, refinancing and loss of the benefit of time.