Financial Risks from Interest-Bearing Debt and Rising Interest Rates
First written in FY2016. 15 of 25 entries say "Mitigated", first in FY2018. Latest entry: 2026-08-07.
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
83 other companies' latest entry also says "Mitigated".
- 2026-08-07MitigatedEarnings presentation
「Reduction of interest-bearing debt continues to progress smoothly」
The company disclosed progress in reducing interest-bearing debt alongside declines in long-term borrowings and other debt. - FY2026MitigatedAnnual report
「Liabilities at the end of the current consolidated fiscal year stood at ¥13,239 million, down ¥1,798 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥868 million in long-term borrowings, including the current portion, and ¥862 million in short-term borrowings.」
Decreases in long-term and short-term borrowings reduced both total liabilities and exposure to interest-bearing debt. - FY2026-H1Changes in the composition of borrowings and a modest decline in liabilitiesAnnual report
「Liabilities at the end of the interim consolidated accounting period stood at ¥14,935 million, down ¥102 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥278 million in long-term borrowings, including the current portion, and ¥193 million in accounts payable included in other current liabilities, offset by decreases of ¥151 million in notes and accounts payable and ¥574 million in short-term borrowings.」
Total liabilities decreased by ¥102 million, while long-term borrowings increased by ¥278 million and short-term borrowings decreased by ¥574 million. The overall reduction in financial exposure and the change in the composition of borrowings are both noted. - FY2025MitigatedAnnual report
「Liabilities at the end of the current consolidated fiscal year stood at ¥15,038 million, down ¥2,654 million from the end of the previous consolidated fiscal year. The main factors were a ¥142 million increase in notes and accounts payable, offset by decreases of ¥2,125 million in short-term borrowings, ¥274 million in other current liabilities, ¥278 million in deferred tax liabilities and ¥152 million in retirement benefit liabilities.」
Total liabilities decreased, mainly due to a ¥2,125 million decrease in short-term borrowings, indicating reduced exposure to interest-bearing debt. Long-term borrowings, however, increased. - FY2025-H1Decrease in Short-Term Borrowings and Increase in Long-Term BorrowingsAnnual report
「Liabilities at the end of the interim consolidated accounting period stood at ¥17,054 million, down ¥638 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥1,243 million in long-term borrowings, including the current portion, and ¥512 million in notes and accounts payable, offset by decreases of ¥2,073 million in short-term borrowings and ¥320 million in other current liabilities.」
Although total liabilities decreased by ¥638 million, long-term borrowings, including the current portion, increased by ¥1,243 million, while short-term borrowings decreased by ¥2,073 million, among other changes to the composition of borrowings. - FY2024-Q3Increase in long-term borrowings, decrease in liabilitiesAnnual report
「Liabilities at the end of the third quarter of the current consolidated fiscal year stood at ¥18,375 million, down ¥982 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥426 million in short-term borrowings and ¥1,077 million in other current liabilities, despite a ¥600 million increase in long-term borrowings, including the current portion.」
Total liabilities decreased by ¥982 million, while long-term borrowings, including the current portion, increased by ¥600 million, and the change in the composition of borrowings has continued. - FY2024-Q2Decrease in Short-Term Borrowings and Increase in Long-Term BorrowingsAnnual report
「Liabilities at the end of the second quarter of the current consolidated fiscal year stood at ¥19,044 million, down ¥314 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥732 million in notes and accounts payable and ¥636 million in long-term borrowings, including the current portion, offset by decreases of ¥723 million in short-term borrowings and ¥909 million in other current liabilities.」
Although total liabilities decreased, long-term borrowings, including the current portion, increased by ¥636 million, while short-term borrowings decreased by ¥723 million. The composition of borrowings changed. - FY2024-Q1MitigatedAnnual report
「The change was due to increases of ¥475 million in notes and accounts payable and ¥270 million in short-term borrowings, offset by decreases of ¥979 million in other current liabilities and ¥426 million in long-term borrowings.」
Short-term borrowings increased by ¥270 million, while long-term borrowings decreased by ¥426 million, and total liabilities also decreased by ¥628 million from the end of the previous consolidated fiscal year. - FY2023-Q3WorsenedAnnual report
「Liabilities at the end of the third quarter of the current consolidated fiscal year stood at ¥19,842 million, up ¥2,994 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥950 million in notes and accounts payable, ¥1,077 million in short-term borrowings and ¥1,277 million in long-term borrowings, including the current portion, despite a ¥368 million decrease in other current liabilities.」
Total liabilities increased by ¥2,994 million, while short-term and long-term borrowings, including the current portion, also increased, expanding financial exposure after the downward trend in borrowings through the previous quarter. - FY2023-Q2WorsenedAnnual report
「Liabilities at the end of the second quarter of the current consolidated fiscal year stood at ¥17,882 million, up ¥1,033 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥1,052 million in notes and accounts payable, ¥266 million in income taxes payable and ¥728 million in long-term borrowings, including the current portion, despite a ¥1,086 million decrease in other current liabilities.」
Total liabilities increased by ¥1,033 million, and long-term borrowings, including the current portion, increased by ¥728 million, marking a shift from the downward trend in liabilities and borrowings through the previous quarter. - FY2023-Q1MitigatedAnnual report
「Short-term borrowings 2,271 2,370 Current portion of long-term borrowings 1,909 1,816 Long-term borrowings 3,573 3,191」
Short-term borrowings increased by ¥99 million, while long-term borrowings, including the current portion, decreased by ¥475 million from ¥5,482 million at the end of the previous consolidated fiscal year to ¥5,007 million. - FY2022-Q3MitigatedAnnual report
「Liabilities at the end of the third quarter of the current consolidated fiscal year stood at ¥15,888 million, down ¥153 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥331 million in notes and accounts payable and ¥452 million in long-term borrowings, including the current portion, despite a ¥768 million increase in other current liabilities.」
Long-term borrowings, including the current portion, decreased by ¥452 million and total liabilities decreased by ¥153 million, indicating reduced exposure to interest-bearing debt. - FY2022-Q2MitigatedAnnual report
「Liabilities at the end of the second quarter of the current consolidated fiscal year stood at ¥14,648 million, down ¥1,393 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥1,141 million in long-term borrowings, including the current portion, and ¥420 million in notes and accounts payable, despite a ¥268 million increase in short-term borrowings.」
Although short-term borrowings increased, long-term borrowings, including the current portion, decreased by ¥1,141 million, and total liabilities decreased by ¥1,393 million. The reduction in exposure to interest-bearing debt has continued. - FY2022-Q1MitigatedAnnual report
「Liabilities at the end of the first quarter of the current consolidated fiscal year stood at ¥15,222 million, down ¥818 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥247 million in other current liabilities and ¥604 million in long-term borrowings.」
Long-term borrowings decreased by ¥604 million and total liabilities decreased by ¥818 million, indicating reduced exposure to interest-bearing debt. - FY2021WorsenedAnnual report
「Liabilities at the end of the current consolidated fiscal year stood at ¥16,041 million, down ¥49 million from the end of the previous consolidated fiscal year. The main factors were increases of ¥700 million in long-term borrowings and ¥320 million in deferred tax liabilities, offset by decreases of ¥664 million in notes and accounts payable, ¥278 million in the current portion of long-term borrowings and ¥159 million in accounts payable.」
Although total liabilities decreased, long-term borrowings increased by ¥700 million, and the balance of interest-bearing debt, including the current portion of long-term borrowings, also increased. - FY2021-Q2Increase in long-term borrowingsAnnual report
「Liabilities at the end of the second quarter of the current consolidated fiscal year stood at ¥15,920 million, down ¥170 million from the end of the previous consolidated fiscal year. The main factors were a ¥500 million increase in long-term borrowings, offset by decreases of ¥318 million in notes and accounts payable and ¥316 million in other current liabilities.」
Total liabilities decreased by ¥170 million, while long-term borrowings increased by ¥500 million. The trend of declining exposure to interest-bearing debt through the previous period has partly changed. - FY2021-Q1MitigatedAnnual report
「Liabilities at the end of the first quarter of the current consolidated fiscal year stood at ¥15,094 million, down ¥996 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥81 million in notes and accounts payable, ¥91 million in short-term borrowings and ¥600 million in long-term borrowings, including the current portion.」
Liabilities declined due to decreases in short-term and long-term borrowings, and the reduction in exposure to interest-bearing debt has continued. - FY2020-Q3MitigatedAnnual report
「Short-term borrowings 2,657 2,034 Current portion of long-term borrowings 2,386 2,285 Long-term borrowings 4,000 3,666」
Short-term and long-term borrowings declined from the end of the previous consolidated fiscal year, indicating lower exposure to interest-bearing debt. - FY2020-Q2MitigatedAnnual report
「Liabilities at the end of the second quarter of the current consolidated fiscal year stood at ¥19,414 million, down ¥592 million from the end of the previous consolidated fiscal year. The main factors were decreases of ¥259 million in short-term borrowings and ¥140 million in long-term borrowings, among other items.」
Liabilities decreased due to declines in short-term and long-term borrowings, indicating reduced exposure to interest-bearing debt. - FY2020-Q1MitigatedAnnual report
「Liabilities at the end of the first quarter of the current consolidated fiscal year stood at ¥19,696 million, down ¥310 million from the end of the previous consolidated fiscal year. The main factor was a decrease in long-term borrowings and other items.」
Liabilities decreased by ¥310 million from the end of the previous consolidated fiscal year, mainly due to a decrease in long-term borrowings and other items, indicating reduced exposure to interest-bearing debt. - FY2018MitigatedAnnual report
「For the fiscal year ended March 2018, interest-bearing debt as a percentage of total assets was 26.9%, including lease obligations. The Group is working to reduce interest-bearing debt, including borrowings.」
Interest-bearing debt dependence declined from 28.1% in the previous period to 26.9%, as the company continued to reduce borrowings. - FY2017WorsenedAnnual report
「The Group primarily finances capital investment through borrowings from financial institutions. For the fiscal year ended March 2017, interest-bearing debt as a percentage of total assets was 28.1%, including lease obligations.」
The interest-bearing debt ratio rose from 27.9% in the previous fiscal year to 28.1%, and the Group continues to identify financial impact risks arising from borrowings and rising interest rates. - FY2016First statedAnnual report
「The Group primarily finances capital investment through borrowings from financial institutions. For the fiscal year ended March 2016, interest-bearing debt as a percentage of total assets was 27.9%, including lease obligations.」
The Group reported an interest-bearing debt ratio of 27.9% and described efforts to reduce interest-bearing debt and the impact of rising interest rates.