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Ncd (4783) · FactUpdated full-year debt-to-equity ratioLatest Earnings (2026-08-07): "Other"

Increase in Liabilities and Decline in the Equity Ratio

First written in FY2017-Q3. . Latest entry: 2026-08-07.

35entries
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How it moved
ProgressHeldSoftenedWorseOtherFY2017-Q3 – 2026-08-072017: 420172018: 420182019: 420192020: 420202021: 420212022: 420222023: 420232024: 320242025: 120252026: 32026
Same theme, other companies
Decline in equity ratio due to increase in liabilitiesA theme 39 companies write about · 40 as a headwind · 0 as a tailwind

The whole theme swung hardest in 2026: 9 of 34 companies on the "Worse" side.

14 other companies' latest entry also says "Other".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Showing 14 of the 39 companies compared. The sentences above are computed from all 39.
Full recordFilings, disclosures and news, newest first
  1. 2026-08-07OtherEarnings

    「Net assets decreased by ¥421 million from the end of the previous consolidated fiscal year to ¥8,128 million, while the equity ratio declined from 50.1% at the end of the previous consolidated fiscal year to 48.2%.」

    The changes in net assets and the equity ratio at the end of the first quarter were updated.
  2. FY2026Updated full-year debt-to-equity ratioAnnual report

    「Net assets increased by ¥695 million from the end of the previous consolidated fiscal year to ¥8,549 million, while the equity ratio rose from 48.4% at the end of the previous consolidated fiscal year to 50.1%.」

    Net assets were ¥8,549 million and the equity ratio was 50.1%, up from 48.4% at the end of the previous fiscal year.
  3. 2026-05-15OtherEarnings

    「Net assets increased by ¥695 million from the end of the previous consolidated fiscal year to ¥8,549 million, while the equity ratio rose from 48.4% at the end of the previous consolidated fiscal year to 50.1%.」

    Net assets and the equity ratio increased, with the equity ratio exceeding 50%.
  4. FY2025Updated full-year debt-to-equity ratioAnnual report

    「Net assets increased by ¥1,450 million from the end of the previous consolidated fiscal year to ¥7,854 million, and the equity ratio rose from 42.6% at the end of the previous consolidated fiscal year to 48.4%.」

    Net assets were ¥7,854 million and the equity ratio was 48.4%, up from 42.6% at the end of the previous fiscal year. Liabilities decreased by ¥253 million to ¥8,241 million.
  5. FY2025-H1Updated liabilities and equity ratio at the end of the interim periodAnnual report

    「Liabilities decreased by ¥760 million from the end of the previous consolidated fiscal year to ¥7,735 million. Net assets increased by ¥692 million to ¥7,096 million, and the equity ratio rose from 42.6% at the end of the previous consolidated fiscal year to 47.4%.」

    At the end of the interim period, liabilities decreased by ¥760 million, while net assets increased by ¥692 million. The equity ratio rose from 42.6% to 47.4%.
  6. FY2024Updated full-year debt-to-equity ratioAnnual report

    「Liabilities increased by ¥1,153 million from the end of the previous consolidated fiscal year to ¥8,495 million. Net assets increased by ¥1,358 million to ¥6,403 million, and the equity ratio rose from 40.4% at the end of the previous consolidated fiscal year to 42.6%.」

    At the end of the fiscal year, liabilities increased to ¥8,495 million, while net assets increased to ¥6,403 million. The equity ratio rose from 40.4% to 42.6%.
  7. FY2024-Q3Updated liabilities and equity ratio at the end of the third quarterAnnual report

    「Liabilities increased by ¥652 million from the end of the previous consolidated fiscal year to ¥7,994 million. Net assets increased by ¥904 million to ¥5,950 million, and the equity ratio rose from 40.4% at the end of the previous consolidated fiscal year to 42.3%.」

    At the end of the third quarter, liabilities increased by ¥652 million, while net assets increased by ¥904 million. The equity ratio rose from 40.4% to 42.3%.
  8. FY2024-Q2Updated second-quarter-end liabilities and equity ratioAnnual report

    「Liabilities decreased by ¥437 million from the end of the previous consolidated fiscal year to ¥6,904 million. Net assets increased by ¥635 million to ¥5,681 million, and the equity ratio rose from 40.4% at the end of the previous consolidated fiscal year to 44.7%.」

    At the end of the second quarter, liabilities decreased to ¥6,904 million, while net assets increased to ¥5,681 million. The equity ratio rose from 40.4% to 44.7%.
  9. FY2024-Q1Updated first-quarter-end liabilities and equity ratioAnnual report

    「Net assets increased by ¥82 million from the end of the previous consolidated fiscal year to ¥5,127 million, and the equity ratio rose from 40.4% at the end of the previous consolidated fiscal year to 40.6%.」

    At the end of the first quarter, liabilities were ¥7,395 million and net assets were ¥5,127 million. The equity ratio rose from 40.4% to 40.6%.
  10. FY2023Updated full-year debt-to-equity ratioAnnual report

    「Total liabilities decreased by ¥80 million from the end of the previous consolidated fiscal year to ¥7,342 million. …Net assets increased by ¥576 million from the end of the previous consolidated fiscal year to ¥5,045 million, and the equity ratio rose from 37.3% at the end of the previous consolidated fiscal year to 40.4%.」

    At the end of the full year, liabilities had declined to ¥7,342 million, net assets stood at ¥5,045 million, and the equity ratio had risen from 37.3% to 40.4%.
  11. FY2023-Q3Updated the decrease in liabilities and increase in the equity ratioAnnual report

    「Total liabilities decreased by ¥488 million from the end of the previous consolidated fiscal year to ¥6,933 million. The main decreases were ¥375 million in income taxes payable and ¥285 million in provision for bonuses. The main increase was ¥152 million in short-term borrowings. Net assets increased by ¥539 million from the end of the previous consolidated fiscal year to ¥5,007 million, and the equity ratio rose from 37.3% at the end of the previous consolidated fiscal year to 41.6%.」

    At the end of the third quarter, liabilities decreased by ¥488 million and net assets increased by ¥539 million. The equity ratio rose from 37.3% at the end of the previous fiscal year to 41.6%.
  12. FY2023-Q2Updated the decrease in liabilities and increase in the equity ratioAnnual report

    「Total liabilities decreased by ¥798 million from the end of the previous consolidated fiscal year to ¥6,624 million. The main decreases were ¥268 million in income taxes payable, ¥243 million in provision for bonuses, ¥138 million in accounts payable and ¥132 million in liabilities related to retirement benefits. Net assets increased by ¥282 million from the end of the previous consolidated fiscal year to ¥4,750 million, and the equity ratio rose from 37.3% at the end of the previous consolidated fiscal year to 41.4%.」

    At the end of the second quarter, liabilities decreased by ¥798 million and net assets increased by ¥282 million. The equity ratio rose from 37.3% at the end of the previous fiscal year to 41.4%.
  13. FY2023-Q1Decrease in liabilities and increase in the equity ratio at the end of the first quarterAnnual report

    「Total liabilities decreased by ¥262 million from the end of the previous consolidated fiscal year to ¥7,160 million. The main decreases were ¥429 million in provision for bonuses, ¥354 million in income taxes payable and ¥143 million in accounts payable. Net assets increased by ¥92 million from the end of the previous consolidated fiscal year to ¥4,561 million, and the equity ratio rose from 37.3% at the end of the previous consolidated fiscal year to 38.6%.」

    At the end of the first quarter, liabilities decreased by ¥262 million and net assets increased by ¥92 million. The equity ratio rose from 37.3% to 38.6%.
  14. FY2022Updated the full-year increase in liabilities and decline in the equity ratioAnnual report

    「Total liabilities increased by ¥771 million from the end of the previous consolidated fiscal year to ¥7,422 million. Net assets increased by ¥303 million from the end of the previous consolidated fiscal year to ¥4,468 million, and the equity ratio declined from 38.3% at the end of the previous consolidated fiscal year to 37.3%.」

    At the end of the full year, liabilities increased by ¥771 million, while net assets increased by ¥303 million. The equity ratio declined from 38.3% to 37.3%.
  15. FY2022-Q3Updated the third-quarter-end increase in liabilities and increase in the equity ratioAnnual report

    「Total liabilities increased by ¥409 million from the end of the previous consolidated fiscal year to ¥7,060 million. The main increases were ¥250 million in accounts payable and ¥247 million in income taxes payable. The main decrease was ¥247 million in short-term borrowings. Net assets increased by ¥435 million from the end of the previous consolidated fiscal year to ¥4,600 million, and the equity ratio rose from 38.3% at the end of the previous consolidated fiscal year to 39.2%.」

    At the end of the third quarter, liabilities increased by ¥409 million, while net assets increased by ¥435 million. The equity ratio rose from 38.3% to 39.2%.
  16. FY2022-Q2Decrease in liabilities and increase in the equity ratio at the end of the second quarterAnnual report

    「Total liabilities decreased by ¥371 million from the end of the previous consolidated fiscal year to ¥6,279 million. The main decrease was ¥349 million in short-term borrowings. The main increase was ¥137 million in income taxes payable. Net assets increased by ¥206 million from the end of the previous consolidated fiscal year to ¥4,371 million, and the equity ratio rose from 38.3% at the end of the previous consolidated fiscal year to 40.7%.」

    At the end of the second quarter, liabilities decreased by ¥371 million and net assets increased by ¥206 million. The equity ratio rose from 38.3% at the end of the previous fiscal year to 40.7%.
  17. FY2022-Q1Updated first-quarter-end liabilities and equity ratioAnnual report

    「Total liabilities increased by ¥341 million from the end of the previous consolidated fiscal year to ¥6,992 million. The main increase was ¥51 million in lease liabilities. Net assets increased by ¥51 million from the end of the previous consolidated fiscal year to ¥4,216 million, and the equity ratio declined from 38.3% at the end of the previous consolidated fiscal year to 37.4%.」

    At the end of the first quarter, liabilities increased by ¥341 million and net assets increased by ¥51 million. The equity ratio declined from 38.3% to 37.4%.
  18. FY2021Updated the full-year decrease in liabilities and increase in the equity ratioAnnual report

    「Total liabilities decreased by ¥1,053 million from the end of the previous consolidated fiscal year to ¥6,651 million. Net assets increased by ¥251 million from the end of the previous consolidated fiscal year to ¥4,165 million, and the equity ratio rose from 33.5% at the end of the previous consolidated fiscal year to 38.3%.」

    At the end of the full year, liabilities decreased by ¥1,053 million and net assets increased by ¥251 million. The equity ratio rose from 33.5% to 38.3%.
  19. FY2021-Q3Updated the decrease in liabilities and increase in the equity ratio at the end of the third quarterAnnual report

    「Total liabilities decreased by ¥718 million from the end of the previous consolidated fiscal year to ¥6,986 million. The main decreases were ¥471 million in lease liabilities, ¥285 million in provision for bonuses and ¥203 million in accounts payable. The main increase was ¥460 million in short-term borrowings. Net assets increased by ¥31 million from the end of the previous consolidated fiscal year to ¥3,945 million, and the equity ratio rose from 33.5% at the end of the previous consolidated fiscal year to 35.9%.」

    At the end of the third quarter, liabilities decreased by ¥718 million and net assets increased by ¥31 million. The equity ratio rose from 33.5% to 35.9%.
  20. FY2021-Q2Decrease in liabilities and increase in the equity ratio at the end of the second quarterAnnual report

    「Total liabilities decreased by ¥620 million from the end of the previous consolidated fiscal year to ¥7,083 million. Net assets increased by ¥67 million from the end of the previous consolidated fiscal year to ¥3,981 million, and the equity ratio rose from 33.5% at the end of the previous consolidated fiscal year to 35.8%.」

    At the end of the second quarter, liabilities decreased by ¥620 million and net assets increased by ¥67 million. The equity ratio rose from 33.5% to 35.8%.
  21. FY2021-Q1Updated first-quarter-end liabilities and equity ratioAnnual report

    「Equity ratio (%) 30.8 32.9 33.5」

    The equity ratio at the end of the first quarter was 32.9%, down from 33.5% at the end of the previous consolidated fiscal year. Total liabilities were ¥7,677 million, down from ¥7,704 million at the end of the previous fiscal year.
  22. FY2020Updated full-year debt-to-equity ratioAnnual report

    「Total liabilities increased by ¥109 million from the end of the previous consolidated fiscal year to ¥7,704 million. Net assets increased by ¥460 million from the end of the previous consolidated fiscal year to ¥3,913 million, and the equity ratio rose from 31.1% at the end of the previous consolidated fiscal year to 33.5%.」

    At the end of the full year, liabilities increased, but the equity ratio rose from 31.1% to 33.5% as a result of the increase in net assets.
  23. FY2020-Q3Updated the decrease in liabilities and increase in the equity ratio at the end of the third quarterAnnual report

    「Total liabilities decreased by ¥337 million from the end of the previous consolidated fiscal year to ¥7,258 million. The main decreases were ¥198 million in provision for bonuses and ¥158 million in accounts payable. The main increase was ¥225 million in short-term borrowings. Net assets increased by ¥287 million from the end of the previous consolidated fiscal year to ¥3,741 million, and the equity ratio rose from 31.1% at the end of the previous consolidated fiscal year to 33.9%.」

    At the end of the third quarter, liabilities decreased by ¥337 million and net assets increased by ¥287 million. The equity ratio rose from 31.1% at the end of the previous fiscal year to 33.9%.
  24. FY2020-Q2Decrease in liabilities and increase in the equity ratio at the end of the second quarterAnnual report

    「Total liabilities decreased by ¥501 million from the end of the previous consolidated fiscal year to ¥7,093 million. The main decrease was ¥132 million in income taxes payable. Net assets increased by ¥185 million from the end of the previous consolidated fiscal year to ¥3,639 million, and the equity ratio rose from 31.1% at the end of the previous consolidated fiscal year to 33.8%.」

    At the end of the second quarter, liabilities decreased by ¥501 million and net assets increased by ¥185 million. The equity ratio rose from 31.1% at the end of the previous fiscal year to 33.8%.
  25. FY2020-Q1Updated first-quarter-end liabilities and equity ratioAnnual report

    「Total liabilities increased by ¥84 million from the end of the previous consolidated fiscal year to ¥7,679 million. The main increase was ¥237 million in short-term borrowings. The main decreases were ¥259 million in provision for bonuses and ¥194 million in accounts payable. Net assets decreased by ¥18 million from the end of the previous consolidated fiscal year to ¥3,434 million, and the equity ratio declined from 31.1% at the end of the previous consolidated fiscal year to 30.8%.」

    At the end of the first quarter, liabilities increased by ¥84 million and net assets decreased by ¥18 million. The equity ratio declined from 31.1% to 30.8%.
  26. FY2019Updated full-year debt-to-equity ratioAnnual report

    「Total liabilities decreased by ¥386 million from the end of the previous consolidated fiscal year to ¥7,595 million. Net assets increased by ¥364 million from the end of the previous consolidated fiscal year to ¥3,453 million, and the equity ratio rose from 27.8% at the end of the previous consolidated fiscal year to 31.1%.」

    At the end of the full year, liabilities had declined to ¥7,595 million, net assets stood at ¥3,453 million, and the equity ratio had risen to 31.1%.
  27. FY2019-Q3Updated the decrease in liabilities and increase in the equity ratioAnnual report

    「Total liabilities decreased by ¥795 million from the end of the previous consolidated fiscal year to ¥7,186 million. The main decreases were ¥463 million in liabilities related to retirement benefits, ¥264 million in provision for bonuses and ¥199 million in lease liabilities. The main increase was ¥225 million in short-term borrowings. Net assets increased by ¥352 million from the end of the previous consolidated fiscal year to ¥3,442 million, and the equity ratio rose from 27.8% at the end of the previous consolidated fiscal year to 32.3%.」

    At the end of the third quarter, liabilities decreased by ¥795 million and net assets increased by ¥352 million. The equity ratio rose from 27.8% at the end of the previous fiscal year to 32.3%.
  28. FY2019-Q2Updated the decrease in liabilities and increase in the equity ratioAnnual report

    「Total liabilities decreased by ¥723 million from the end of the previous consolidated fiscal year to ¥7,258 million. The main decreases were ¥478 million in liabilities related to retirement benefits, ¥108 million in provision for bonuses and ¥106 million in lease liabilities. Net assets increased by ¥267 million from the end of the previous consolidated fiscal year to ¥3,357 million, and the equity ratio rose from 27.8% at the end of the previous consolidated fiscal year to 31.5%.」

    Liabilities decreased by ¥723 million and net assets increased by ¥267 million. The equity ratio rose from 27.8% at the end of the previous fiscal year to 31.5%.
  29. FY2019-Q1Updated the decrease in liabilities and increase in the equity ratioAnnual report

    「Total liabilities decreased by ¥279 million from the end of the previous consolidated fiscal year to ¥7,702 million. The main decrease was ¥479 million in liabilities related to retirement benefits. The main increase was ¥217 million in short-term borrowings. Net assets increased by ¥46 million from the end of the previous consolidated fiscal year to ¥3,135 million, and the equity ratio rose from 27.8% at the end of the previous consolidated fiscal year to 28.8%.」

    At the end of the first quarter, liabilities decreased by ¥279 million and net assets increased by ¥46 million. The equity ratio rose from 27.8% at the end of the previous fiscal year to 28.8%.
  30. FY2018Updated the decrease in liabilities and increase in the equity ratioAnnual report

    「Total liabilities 8,300,610 7,981,623」

    Total liabilities at the end of the full year were ¥7,981 million, down from the end of the previous fiscal year. The equity ratio rose from 23.5% at the end of the previous fiscal year to 27.8%.
  31. FY2018-Q3Updated the decrease in liabilities and increase in the equity ratioAnnual report

    「Total liabilities decreased by ¥256 million from the end of the previous consolidated fiscal year to ¥8,043 million. The main decreases were ¥238 million in accounts payable, ¥193 million in provision for bonuses and ¥181 million in lease liabilities. The main increase was ¥232 million in short-term borrowings. Net assets increased by ¥322 million from the end of the previous consolidated fiscal year to ¥2,873 million, and the equity ratio rose from 23.5% at the end of the previous consolidated fiscal year to 26.3%.」

    Liabilities decreased by ¥256 million and net assets increased by ¥322 million. The equity ratio rose from 23.5% at the end of the previous fiscal year to 26.3%.
  32. FY2018-Q2Reduction in liabilities and increase in the equity ratioAnnual report

    「Total liabilities decreased by ¥300 million from the end of the previous consolidated fiscal year to ¥8,000 million. The main decreases were ¥189 million in lease liabilities and ¥93 million in accounts payable. Net assets increased by ¥228 million from the end of the previous consolidated fiscal year to ¥2,779 million, and the equity ratio rose from 23.5% at the end of the previous consolidated fiscal year to 25.8%.」

    The position changed from the increase in liabilities and decline in the equity ratio reported in the previous quarterly disclosure: liabilities decreased by ¥300 million, net assets increased by ¥228 million, and the equity ratio rose to 25.8%.
  33. FY2018-Q1Updated the equity ratio at the end of the first quarter to 23.3%Annual report

    「Net assets increased by ¥21 million from the end of the previous consolidated fiscal year to ¥2,571 million. The equity ratio declined from 23.5% at the end of the previous consolidated fiscal year to 23.3%.」

    The equity ratio declined from 23.5% at the end of the previous fiscal year to 23.3% at the end of the first quarter.
  34. FY2017Updated the full-year equity ratio to 23.5%Annual report

    「At the end of the consolidated fiscal year under review, retained earnings had increased by ¥166 million from the end of the previous consolidated fiscal year, while the equity ratio had declined by 1.1 percentage points to 23.5%.」

    The equity ratio rose from 22.9% at the end of the third quarter to 23.5% at the end of the full year, but declined by 1.1 percentage points from 24.6% at the end of the previous fiscal year.
  35. FY2017-Q3First statedAnnual report

    「Total liabilities increased by ¥316 million from the end of the previous consolidated fiscal year to ¥8,034 million. The main increases were ¥240 million in short-term borrowings and ¥237 million in long-term borrowings. The main decrease was ¥217 million in provision for bonuses. Net assets decreased by ¥127 million from the end of the previous consolidated fiscal year to ¥2,386 million, and the equity ratio declined from 24.6% at the end of the previous consolidated fiscal year to 22.9%.」

    At the end of the third quarter, liabilities had increased by ¥316 million and the equity ratio had declined from 24.6% to 22.9%. Increases in short-term and long-term borrowings were identified as the main factors behind the increase in liabilities.
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Ncd's next results are scheduled for 2026-11-06. Read the earnings preview It last moved in the Earnings of 2026-08-07: "Other".
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Increase in Liabilities and Decline in the Equity Ratio | NCD Co.,Ltd. (4783) | Komori