Reliance on Interest-Bearing Debt and Financing Constraints
First written in FY2020. 9 of 18 entries say "Worsened", first in FY2022-Q1. Latest entry: FY2026-H1.
Premier Anti-Aging moved to the "Worse" side of this theme in 2022, 1 year after the typical company in this theme (2021).
The whole theme swung hardest in 2017: 26 of 105 companies on the "Worse" side.
11 other companies' latest entry also says "Other".
- FY2026-H1Increase in short-term borrowings and decrease in long-term borrowingsAnnual report
「Current liabilities decreased by ¥18 million from the end of the previous consolidated fiscal year to ¥2,978 million. This was mainly due to a ¥326 million decrease in accounts payable and a ¥320 million increase in short-term borrowings. Non-current liabilities decreased by ¥71 million from the end of the previous consolidated fiscal year to ¥461 million. This was mainly due to a ¥43 million decrease in long-term borrowings.」
Short-term borrowings increased by ¥320 million while long-term borrowings decreased by ¥43 million, resulting in opposing movements in the composition of interest-bearing debt. - FY2025MitigatedAnnual report
「The borrowings schedule shows a balance of ¥2,374 million at the beginning of the fiscal year and ¥1,064 million at the end of the fiscal year.」
Borrowings decreased by ¥1,310 million, improving the financial position with respect to dependence on interest-bearing debt and constraints on financing. - FY2025-H1MitigatedAnnual report
「Current liabilities decreased by ¥436 million from the end of the previous consolidated fiscal year to ¥3,322 million. This was mainly due to a ¥408 million decrease in short-term borrowings. Non-current liabilities decreased by ¥191 million from the end of the previous consolidated fiscal year to ¥926 million. This was mainly due to a ¥129 million decrease in long-term borrowings.」
Short-term and long-term borrowings decreased, and dependence on interest-bearing debt decreased numerically from the end of the previous fiscal year. - FY2024-Q3WorsenedAnnual report
「Current liabilities increased by ¥750 million from the end of the previous consolidated fiscal year to ¥3,766 million. This was mainly due to a ¥171 million increase in trade payables, a ¥407 million increase in short-term borrowings, and a ¥155 million increase in long-term borrowings due within one year. Non-current liabilities decreased by ¥263 million from the end of the previous consolidated fiscal year to ¥1,245 million. This was mainly due to a ¥313 million decrease in long-term borrowings.」
Short-term borrowings and long-term borrowings due within one year increased, and total liabilities increased as this exceeded the decrease in long-term borrowings. Dependence on interest-bearing debt is increasing numerically. - FY2024-Q1WorsenedAnnual report
「Current liabilities increased by ¥889 million from the end of the previous consolidated fiscal year to ¥3,905 million. This was mainly due to a ¥205 million increase in accounts payable and a ¥582 million increase in short-term borrowings. Non-current liabilities decreased by ¥79 million from the end of the previous consolidated fiscal year to ¥1,429 million. This was mainly due to a ¥73 million decrease in long-term borrowings.」
Short-term borrowings increased by ¥582 million, and total liabilities increased as this exceeded the decrease in long-term borrowings. Dependence on interest-bearing debt increased numerically from the end of the previous fiscal year. - FY2023WorsenedAnnual report
「The schedule of borrowings and other debt showed a balance of ¥1,413.228 million at the beginning of the fiscal year and ¥2,164.671 million at the end of the fiscal year.」
Borrowings increased by ¥751.443 million from the end of the previous fiscal year, indicating a numerical increase in dependence on interest-bearing debt. - FY2023-Q3WorsenedAnnual report
「Current liabilities increased by ¥301.838 million from the end of the previous fiscal year to ¥3,522.380 million, mainly due to a ¥346.000 million increase in short-term borrowings. Non-current liabilities increased by ¥825.139 million from the end of the previous fiscal year to ¥1,557.026 million, mainly due to a ¥741.048 million increase in long-term borrowings.」
Short-term and long-term borrowings increased from the end of the previous fiscal year, quantitatively increasing dependence on interest-bearing liabilities. However, there had been no breach of the financial covenants. - FY2023-Q2WorsenedAnnual report
「Current liabilities increased by ¥565.586 million from the end of the previous fiscal year to ¥3,786.127 million, mainly due to a ¥758.000 million increase in short-term borrowings. Non-current liabilities increased by ¥899.087 million from the end of the previous fiscal year to ¥1,630.974 million, mainly due to an ¥815.140 million increase in long-term borrowings.」
Short-term and long-term borrowings increased, quantitatively increasing dependence on interest-bearing liabilities. However, there had been no breach of the financial covenants at the end of the second quarter. - FY2023-Q1MitigatedAnnual report
「Current liabilities increased by ¥434.263 million from the end of the previous fiscal year to ¥3,654.804 million. This was mainly due to a ¥663.932 million increase in accrued expenses and a ¥390.000 million decrease in short-term borrowings.」
Short-term borrowings decreased by ¥390.000 million, and long-term borrowings also decreased by ¥57.004 million. The company continued to have no breach of the financial covenants. - FY2022WorsenedAnnual report
「The schedule of borrowings and other debt showed a balance of ¥911.412 million at the beginning of the fiscal year and ¥1,413.228 million at the end of the fiscal year.」
Borrowings increased by ¥501.816 million from the end of the previous fiscal year. Although there had been no breach of the financial covenants, dependence on interest-bearing liabilities increased on a quantitative basis. - FY2022-Q3WorsenedAnnual report
「Current liabilities decreased by ¥1,349.641 million from the end of the previous fiscal year to ¥4,242.189 million. This was mainly due to a ¥463.363 million decrease in accounts payable, a ¥900.000 million increase in short-term borrowings, a ¥1,721.202 million decrease in income taxes payable, and a ¥521.607 million decrease in consumption taxes payable and other items included in “Other” current liabilities.」
Short-term borrowings increased by ¥900.000 million from the end of the previous fiscal year, quantitatively increasing dependence on interest-bearing liabilities. However, there had been no breach of the financial covenants at the end of the third quarter. - FY2022-Q2WorsenedAnnual report
「This was mainly due to a decrease in accounts payable, down ¥205.602 million from the end of the previous fiscal year, an increase in short-term borrowings of ¥760.000 million, a decrease in income taxes payable of ¥681.964 million, and a decrease in consumption taxes payable of ¥521.607 million. There had been no breach of the relevant financial covenants at the end of the second quarter.」
Short-term borrowings increased by ¥760.000 million from the end of the previous fiscal year, quantitatively increasing dependence on interest-bearing liabilities. However, there had been no breach of the financial covenants. - FY2022-Q1WorsenedAnnual report
「This was mainly due to an increase in accounts payable associated with business expansion, up ¥391.151 million from the end of the previous fiscal year, an increase in short-term borrowings of ¥2,050.000 million, and a decrease in income taxes payable of ¥867.651 million.」
Short-term borrowings increased by ¥2,050.000 million due to business expansion, quantitatively worsening the risk of dependence on interest-bearing liabilities. However, there had been no breach of the financial covenants at the end of the first quarter. - FY2021MitigatedAnnual report
「The schedule of borrowings and other debt showed a balance of ¥1,991.721 million at the beginning of the fiscal year and ¥911.412 million at the end of the fiscal year.」
Borrowings declined significantly, and the company continued to have no breach of the financial covenants at the fiscal year-end. - FY2021-Q3RestatedAnnual report
「There had been no breach of the relevant financial covenants as of the end of the third quarter. In addition, borrowings outstanding under the syndicated loan agreement at the end of the third quarter were as follows, with no undrawn amount remaining.」
The company continued to maintain a position with no breach of the financial covenants. Borrowings outstanding under the syndicated loan agreement were stated to be ¥504.350 million. - FY2021-Q2MitigatedAnnual report
「Cash outflows comprised ¥1,050.000 million for repayment of short-term borrowings and ¥141.415 million for repayment of long-term borrowings. There was no breach of the relevant financial covenants at the end of the second quarter.」
Repayment of short-term and long-term borrowings had progressed, and there had been no breach of the financial covenants as of the quarter-end. The risk had been quantified, but no breach of the financial covenants had occurred. - FY2021-Q1MitigatedAnnual report
「This was mainly due to increases in accounts payable associated with business expansion, up ¥343.126 million from the end of the previous fiscal year, and accrued expenses, up ¥676.160 million, partly offset by repayment of short-term borrowings, down ¥1,050.000 million, and a decrease in income taxes payable, down ¥211.584 million. Non-current liabilities decreased by ¥72.771 million from the end of the previous fiscal year to ¥590.188 million, mainly due to early repayment of long-term borrowings, down ¥72.793 million.」
The company stated that repayments and early repayments of short-term and long-term borrowings had progressed, and that there had been no breach of the financial covenants as of the end of the quarter. - FY2020First statedAnnual report
「Interest-bearing liabilities increased to fund the additional working capital required due to increases in trade receivables and inventories.」
Interest-bearing liabilities stood at ¥1,991.721 million, and the interest-bearing debt ratio was 29.08%. The commitment line contains financial covenants.