Interest Rate Fluctuations on Interest-Bearing Debt
First written in FY2016. 5 of 7 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2026: 6 of 28 companies on the "Worse" side.
14 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「These borrowings are exposed to interest rate fluctuation risk because they bear variable interest rates. The Group manages liquidity risk by having each company prepare a monthly cash flow plan and through other measures.」
Interest rate risk from variable-rate borrowings and liquidity management through monthly cash flow plans have been reconfirmed. - FY2024RestatedAnnual report
「These borrowings are exposed to interest rate fluctuation risk because they bear variable interest rates. The Group manages liquidity risk by having each company prepare a monthly cash flow plan and through other measures.」
Interest rate risk from variable-rate borrowings and liquidity management through monthly cash flow plans have been reconfirmed. - FY2023RestatedAnnual report
「These borrowings are exposed to interest rate fluctuation risk because they bear variable interest rates. The Group manages liquidity risk by having each company prepare a monthly cash flow plan and through other measures.」
Interest rate risk from variable-rate borrowings and liquidity management through monthly cash flow plans have been reconfirmed. - FY2021RestatedAnnual report
「Short-term borrowings are primarily financing for operating transactions and are subject to interest rate fluctuation risk, but have only short-term payment maturities. The Group manages liquidity risk by having each company prepare a monthly cash flow plan and through other measures.」
The interest rate fluctuation risk associated with short-term borrowings and liquidity management through monthly cash flow plans have been reconfirmed. - FY2019ReframedAnnual report
「Short-term borrowings are used mainly to finance operating transactions and are subject to interest rate fluctuation risk, but have only short-term payment maturities. The Group manages liquidity risk through measures including the preparation of monthly cash-flow plans by each company.」
The explanation has changed from a description of measures using conventional interest rate swaps to one focused on the interest rate fluctuation risk associated with short-term borrowings and liquidity management through monthly cash flow plans. - FY2018RestatedAnnual report
「The Group conducts some interest rate swap transactions to avoid the risks arising from these interest rate fluctuations, but there is no guarantee that such risks can be completely avoided or reduced.」
The interest rate fluctuation risk and the fact that it cannot be completely avoided even through interest rate swaps have been reaffirmed. - FY2016First statedAnnual report
「The Group finances its operations through interest-bearing debt, including bank borrowings, and is affected by interest rate fluctuations resulting from interest rate conditions and other changes in financial markets.」
The Group uses interest rate swaps in part, but states that it cannot completely avoid or reduce the risk.