Interest-Bearing Debt and the Risk of Rising Interest Rates
First written in FY2016. 17 of 30 entries say "Worsened", first in FY2018. Latest entry: FY2026.
Nippon Concrete Industries moved to the "Worse" side of this theme in 2018, 7 years before the typical company in this theme (2025).
The whole theme swung hardest in 2026: 2 of 10 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「The balance of interest-bearing debt of the Group at the end of the consolidated fiscal year was ¥1,334.3 million.」
Interest-bearing debt decreased from ¥1,385.7 million in the previous period to ¥1,334.3 million. The Group continues to strengthen earnings capacity, improve cash flow, diversify its funding methods and maintain most borrowings at fixed interest rates. - FY2025MitigatedAnnual report
「The balance of interest-bearing debt of the Group at the end of the consolidated fiscal year was ¥1,385.7 million.」
Interest-bearing debt decreased from ¥1,414.2 million in the previous period to ¥1,385.7 million. The Group continues to strengthen earnings capacity, improve cash flow, diversify its funding methods and maintain most borrowings at fixed interest rates. - FY2025-H1MitigatedAnnual report
「Total liabilities decreased by ¥460.4 million from the end of the previous period to ¥3,699.5 million. …The primary factor behind the decrease in fixed liabilities was a reduction in long-term borrowings.」
Total liabilities decreased by ¥460.4 million from the end of the previous period, and long-term borrowings decreased from ¥653.3 million to ¥571.8 million. Exposure to interest-bearing debt and rising interest rate risk has declined in part. - FY2024WorsenedAnnual report
「The balance of interest-bearing debt of the Group at the end of the consolidated fiscal year was ¥1,414.2 million. If interest rates rise in the future due to changes in financial conditions, this may affect the Group's operating results and financial position.」
Interest-bearing debt increased from ¥1,403.6 million in the previous period to ¥1,414.2 million, expanding exposure to rising interest rate risk. The company states that most borrowings carry fixed interest rates. - FY2024-Q3WorsenedAnnual report
「Total liabilities increased by ¥96.9 million from the end of the previous period to ¥4,037.3 million. Current liabilities increased by ¥25 million to ¥2,571.7 million, while fixed liabilities increased by ¥71.8 million to ¥1,465.6 million. The primary factor behind the increase in fixed liabilities was an increase in long-term borrowings.」
Fixed liabilities increased by ¥71.8 million from the end of the previous period, expanding exposure to interest-bearing debt and rising interest rate risk, mainly due to an increase in long-term borrowings. - FY2024-Q2Repayment of long-term borrowings and increase in short-term borrowingsAnnual report
「This was primarily because cash outflows, including ¥111.4 million in repayments of long-term borrowings, exceeded cash inflows, including a net increase of ¥24.3 million in short-term borrowings.」
Repayments of long-term borrowings exceeded the net increase in short-term borrowings, changing the composition by borrowing maturity. - FY2024-Q1Decrease in long-term borrowings and increase in short-term borrowingsAnnual report
「The primary factor behind the decrease in current liabilities was a reduction in electronically recorded obligations, while the primary factor behind the decrease in fixed liabilities was a reduction in long-term borrowings.」
While long-term borrowings decreased from the end of the previous period, short-term borrowings increased from ¥404.96 million to ¥426.3 million, and exposure to interest-bearing debt and rising interest rate risk changed by borrowing maturity. - FY2023WorsenedAnnual report
「The balance of interest-bearing debt of the Group at the end of the consolidated fiscal year was ¥1,403.6 million. If interest rates rise in the future due to changes in financial conditions, this may affect the Group's operating results and financial position.」
Interest-bearing debt increased from ¥1,370.5 million in the previous period to ¥1,403.6 million, expanding exposure to rising interest rate risk. - FY2023-Q3WorsenedAnnual report
「The primary factors behind the increase in current liabilities were increases in notes and accounts payable and electronically recorded obligations, while the primary factor behind the increase in fixed liabilities was an increase in long-term borrowings.」
Long-term borrowings increased from ¥637.8 million at the end of the previous period to ¥705.6 million, while short-term borrowings also increased from ¥400 million to ¥440.352 million, expanding exposure to interest-bearing debt and rising interest rate risk. - FY2023-Q2Increase in short-term borrowings and decrease in long-term borrowingsAnnual report
「This was primarily because cash outflows, including ¥118.7 million in repayments of long-term borrowings, exceeded cash inflows, including a net increase of ¥45.5 million in short-term borrowings.」
While repayments of long-term borrowings progressed, short-term borrowings increased by a net ¥45.5 million. Exposure to interest-bearing debt and rising interest rate risk changed by borrowing maturity. - FY2023-Q1Increase in short-term borrowings and decrease in long-term borrowingsAnnual report
「The primary factors behind the decrease in current liabilities were reductions in current portions of long-term borrowings, accrued corporate taxes and provisions, while the primary factor behind the decrease in fixed liabilities was a reduction in long-term borrowings.」
While long-term borrowings decreased, short-term borrowings increased from the end of the previous period, and exposure to rising interest rate risk changed by borrowing maturity. - FY2022WorsenedAnnual report
「These funds were procured mainly through borrowings from financial institutions, and the balance of interest-bearing debt of the Group at the end of the consolidated fiscal year was ¥1,370.5 million. If interest rates rise in the future due to changes in financial conditions, this may affect the Group's operating results and financial position.」
Interest-bearing debt increased from ¥1,198.3 million in the previous period to ¥1,370.5 million, expanding exposure to rising interest rate risk. - FY2022-Q3WorsenedAnnual report
「Current liabilities increased by ¥300.4 million from the end of the previous period to ¥2,780.2 million, while fixed liabilities decreased by ¥115.5 million to ¥948.7 million. The primary factor behind the increase in current liabilities was an increase in electronically recorded obligations, while the primary factor behind the decrease in fixed liabilities was a reduction in long-term borrowings.」
While long-term borrowings decreased, short-term borrowings on the balance sheet increased from ¥405 million at the end of the previous period to ¥702.4 million, with exposure to interest-bearing debt and rising interest rate risk through short-term borrowings continuing. - FY2022-Q2WorsenedAnnual report
「This was primarily because cash inflows, including a net increase of ¥290 million in short-term borrowings, exceeded cash outflows, including a net decrease of ¥1,058 million in long-term borrowings.」
While long-term borrowings decreased, the net increase in short-term borrowings was greater, expanding exposure to rising interest rate risk alongside an increase in total borrowings. - FY2022-Q1MitigatedAnnual report
「The main reason for the decrease in non-current liabilities was a decrease in long-term borrowings.」
Fixed liabilities decreased from the end of the previous period due to a reduction in long-term borrowings, and exposure to interest-bearing debt and rising interest rate risk declined in part from the end of the previous period. - FY2021WorsenedAnnual report
「These funds are obtained mainly through borrowings from financial institutions. At the end of the consolidated fiscal year, our group's interest-bearing debt was ¥11,983 million. If interest rates rise in the future due to changes in financial conditions, this could affect our group's earnings and financial position.」
Interest-bearing debt increased from ¥1,013 million in the previous period to ¥1,198 million, expanding exposure to rising interest rate risk. - FY2021-Q3WorsenedAnnual report
「Current liabilities increased by ¥3,818 million from the end of the previous fiscal year to ¥24,013 million, while non-current liabilities decreased by ¥165 million to ¥12,574 million. The main reason for the increase in current liabilities was an increase in short-term borrowings, while the main reason for the decrease in non-current liabilities was a decrease in long-term borrowings.」
Although long-term borrowings declined, current liabilities increased due to an increase in short-term borrowings, and exposure to rising interest-rate risk through short-term borrowings continued. - FY2021-Q2WorsenedAnnual report
「This was mainly because cash inflow factors, including a net increase of ¥1,449 million in short-term borrowings, exceeded cash outflow factors, including a net decrease of ¥1,121 million in long-term borrowings.」
Although long-term borrowings declined, the net increase in short-term borrowings was greater, and exposure to rising interest-rate risk continued as total borrowings increased. - FY2021-Q1WorsenedAnnual report
「Current liabilities increased by ¥1,802 million from the end of the previous fiscal year to ¥21,997 million, while non-current liabilities decreased by ¥178 million to ¥12,560 million. The main reason for the increase in current liabilities was an increase in short-term borrowings, while the main reason for the decrease in non-current liabilities was a decrease in long-term borrowings.」
Although long-term borrowings declined, total interest-bearing debt increased from the end of the previous fiscal year due to an increase in short-term borrowings, expanding exposure to rising interest-rate risk. - FY2020-Q3WorsenedAnnual report
「Current liabilities decreased by ¥2,268 million from the end of the previous fiscal year to ¥22,202 million, while non-current liabilities increased by ¥940 million to ¥13,570 million. The main reason for the decrease in current liabilities was a decline in payment obligations, including electronically recorded obligations, accompanying lower sales, while the main reason for the increase in non-current liabilities was an increase in long-term borrowings.」
Non-current liabilities increased from the end of the previous fiscal year, primarily due to an increase in long-term borrowings, expanding exposure to interest-bearing debt and rising interest-rate risk. - FY2020-Q2WorsenedAnnual report
「This was mainly because cash inflow factors, including a net increase of ¥101 million in long-term borrowings, were less than cash outflow factors, including dividend payments of ¥198 million.」
A net increase of ¥101 million in long-term borrowings was disclosed, expanding exposure to interest-bearing debt and rising interest-rate risk. - FY2019MitigatedAnnual report
「At the end of the consolidated fiscal year, our group's interest-bearing debt was ¥10,132 million. If interest rates rise in the future due to changes in financial conditions, this could affect our group's earnings and financial position. Our group intends to reduce interest-bearing debt by strengthening earnings capacity and improving cash flow, while continuing efforts to lower interest costs by diversifying funding methods. Approximately 80% of our group's borrowings are at fixed interest rates.」
Interest-bearing debt declined from ¥10,531 million in the previous fiscal year to ¥10,132 million, while the policy of maintaining approximately 80% of borrowings at fixed rates also continued. - FY2019-Q3WorsenedAnnual report
「Current liabilities increased by ¥810 million from the end of the previous fiscal year to ¥24,197 million, while non-current liabilities increased by ¥471 million to ¥12,981 million. The main reason for the increase in current liabilities was an increase in payment obligations, including electronically recorded obligations, accompanying higher sales, while the main reason for the increase in non-current liabilities was an increase in long-term borrowings.」
Non-current liabilities increased by ¥471 million from the end of the previous fiscal year, primarily due to an increase in long-term borrowings, expanding exposure to interest-bearing debt and rising interest-rate risk. - FY2019-Q2WorsenedAnnual report
「Current liabilities increased by ¥1,307 million from the end of the previous fiscal year to ¥24,693 million, while non-current liabilities increased by ¥1,194 million to ¥13,704 million. The main reason for the increase in non-current liabilities was an increase in long-term borrowings.」
Non-current liabilities increased by ¥1,194 million from the end of the previous fiscal year due to an increase in long-term borrowings, expanding exposure to interest-bearing debt and rising interest-rate risk. - FY2019-Q1WorsenedAnnual report
「Current liabilities increased by ¥175 million from the end of the previous fiscal year to ¥23,562 million, while non-current liabilities increased by ¥1,155 million to ¥13,665 million. The main reason for the increase in current liabilities was an increase in short-term borrowings, while the main reason for the increase in non-current liabilities was an increase in long-term borrowings.」
Current and non-current liabilities increased from the end of the previous fiscal year due to increases in short- and long-term borrowings, expanding exposure to interest-bearing debt and rising interest-rate risk. - FY2018WorsenedAnnual report
「These funds are obtained mainly through borrowings from financial institutions. At the end of the consolidated fiscal year, our group's interest-bearing debt was ¥10,531 million. If interest rates rise in the future due to changes in financial conditions, this could affect our group's earnings and financial position.」
Interest-bearing debt was ¥10,531 million, and the risk of an impact on earnings and financial position if interest rates rise continues to be disclosed. - FY2017MitigatedAnnual report
「Our group intends to reduce interest-bearing debt by strengthening earnings capacity and improving cash flow, while continuing efforts to lower interest costs by diversifying funding methods. Approximately 80% of our group's borrowings are at fixed interest rates.」
Measures addressing interest-bearing debt and rising interest-rate risk include debt reduction, diversified funding methods and borrowings with approximately 80% fixed-rate exposure. - FY2016First statedAnnual report
「At the end of the consolidated fiscal year, our group's interest-bearing debt was ¥8,923 million. If interest rates rise in the future due to changes in financial conditions, this could affect our group's earnings and financial position.」
The response measures are reducing interest-bearing debt, diversifying funding methods and using fixed-rate borrowings.