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Toyo Asano Foundation (5271) · RiskMitigated

Risk of Higher Finance Costs Due to Rising Interest Rates

First written in FY2017. 19 of 33 entries say "Worsened", first in FY2019-Q1. Latest entry: FY2027-H1.

33entries
10years
1from disclosures
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How it moved
ProgressHeldSoftenedWorseWorsenedFY2021-Q1 – FY2023-Q1MitigatedFY2026-H1 – FY2027-H12017: 120172018: 420182019: 420192020: 420202021: 420212022: 420222023: 320232024: 420242025: 220252026: 32026
Same theme, other companies
Interest-rate fluctuation risk on borrowingsA theme 312 companies write about · 312 as a headwind · 0 as a tailwind

Toyo Asano Foundation moved to the "Worse" side of this theme in 2020, 3 years before the typical company in this theme (2023).

The whole theme swung hardest in 2025: 29 of 96 companies on the "Worse" side.

41 other companies' latest entry also says "Mitigated".

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 200 companies compared. The sentences above are computed from all 200.Comparing 200 of the theme's 312 threads.
Full recordFilings, disclosures and news, newest first
  1. FY2027-H1MitigatedAnnual report

    「Liabilities decreased by ¥635 million from the end of the previous consolidated fiscal year to ¥9,882 million. This was mainly due to a ¥320 million increase in electronically recorded obligations and a ¥910 million decrease in long-term borrowings.」

    Long-term borrowings decreased by ¥910 million, and borrowings outstanding declined even including the ¥200 million net increase in short-term borrowings, reducing exposure to the risk of higher interest rates.
  2. 2026-10-09MitigatedEarnings

    「Due to a ¥910 million decrease in long-term borrowings, among other factors」

    Long-term borrowings declined by ¥910 million from the end of the previous consolidated fiscal year, reducing exposure to interest-rate fluctuation risk.
  3. FY2026MitigatedAnnual report

    「Interest-bearing debt at the end of the consolidated fiscal year amounted to ¥8,383 million. Borrowings from financial institutions are also being used as the primary source of funding for the renovation of the Tokyo plant and construction of the new head office.」

    Interest-bearing debt decreased from ¥8,520 million in the previous fiscal year to ¥8,383 million. Borrowings associated with investment remain, but exposure to interest rate fluctuation risk has decreased slightly.
  4. FY2026-H1MitigatedAnnual report

    「Cash flows from financing activities decreased by ¥932 million, compared with an increase of ¥323 million in the previous interim consolidated accounting period. This was mainly due to proceeds of ¥323 million from a sale-and-leaseback transaction and outflows of ¥1,118 million for repayment of long-term borrowings.」

    Long-term borrowings decreased by ¥947 million due to repayments, reducing exposure to the risk of higher interest rates.
  5. FY2025WorsenedAnnual report

    「Our group is working to reduce interest-bearing debt, but interest-bearing debt at the end of the consolidated fiscal year amounted to ¥8,520 million. In addition, borrowings from financial institutions are being used as the primary source of funding for the renovation of the Tokyo plant and construction of the new head office.」

    Interest-bearing debt increased from ¥5,877 million in the previous fiscal year to ¥8,520 million, and borrowings associated with investment in the Tokyo plant and new head office are also exposed to interest rate fluctuation risk.
  6. FY2025-H1WorsenedAnnual report

    「Liabilities decreased by ¥108 million from the end of the previous consolidated fiscal year to ¥10,979 million. This was mainly due to a ¥398 million increase in long-term borrowings and decreases of ¥288 million in notes and accounts payable, ¥91 million in electronic recorded obligations and ¥154 million in income taxes payable, among other factors.」

    Although total liabilities decreased, long-term borrowings increased by ¥398 million, and the combined balance of short-term and long-term borrowings also increased from the end of the previous fiscal year. Exposure to the risk of higher interest rates is expanding.
  7. FY2025-Q1WorsenedAnnual report

    「Liabilities increased by ¥592 million from the end of the previous consolidated fiscal year to ¥11,680 million. This was mainly due to increases of ¥548 million in long-term borrowings and ¥97 million in short-term borrowings, partly offset by a ¥174 million decrease in income taxes payable, among other factors.」

    Long-term borrowings increased by ¥548 million and short-term borrowings by ¥97 million, increasing borrowings exposed to the risk of higher interest rates from the end of the previous consolidated fiscal year.
  8. FY2024MitigatedAnnual report

    「Interest-bearing debt at the end of the consolidated fiscal year amounted to ¥5,877 million. In addition, borrowings from financial institutions are being used as the primary source of funding for the renovation of the Tokyo plant and construction of the new head office.」

    The plan to use borrowings for construction of the new head office and other projects continues, but interest-bearing debt decreased from ¥6,514 million in the previous fiscal year to ¥5,877 million.
  9. FY2024-Q3WorsenedAnnual report

    「Liabilities increased by ¥537 million from the end of the previous consolidated fiscal year to ¥12,049 million. This was mainly due to increases of ¥651 million in long-term borrowings and ¥225 million in electronic recorded obligations, partly offset by a ¥398 million decrease in short-term borrowings, among other factors.」

    The increase in long-term borrowings exceeded the decrease in short-term borrowings, and the combined balance of short-term and long-term borrowings increased from the end of the previous consolidated fiscal year. Exposure to the risk of higher interest rates increased.
  10. FY2024-Q2MitigatedAnnual report

    「Liabilities decreased by ¥8 million from the end of the previous consolidated fiscal year to ¥11,502 million. This was mainly due to increases of ¥398 million in electronic recorded obligations and ¥417 million in long-term borrowings, and decreases of ¥365 million in notes and accounts payable and ¥445 million in short-term borrowings, among other factors.」

    Although long-term borrowings increased by ¥417 million, short-term borrowings decreased by ¥445 million, reducing the combined balance of short-term and long-term borrowings by approximately ¥28 million from the end of the previous consolidated fiscal year. Exposure to the risk of higher interest rates decreased slightly.
  11. FY2024-Q1WorsenedAnnual report

    「Liabilities increased by ¥705 million from the end of the previous consolidated fiscal year to ¥12,216 million. This was mainly due to increases of ¥322 million in long-term borrowings, ¥289 million in electronic recorded obligations and ¥147 million in short-term borrowings, partly offset by a ¥103 million decrease in notes and accounts payable, among other factors.」

    Long-term borrowings increased by ¥322 million and short-term borrowings by ¥147 million. As total borrowings increased by ¥469 million from the end of the previous consolidated fiscal year, exposure to the risk of higher interest rates increased.
  12. FY2023-Q3WorsenedAnnual report

    「Liabilities increased by ¥317 million from the end of the previous consolidated fiscal year to ¥14,190 million. This was mainly due to increases of ¥143 million in long-term borrowings, ¥173 million in short-term borrowings and ¥640 million in electronic recorded obligations, partly offset by a ¥1,013 million decrease in notes and accounts payable, among other factors.」

    Long-term borrowings increased by ¥143 million and short-term borrowings by ¥173 million, expanding exposure to the risk of higher interest rates from the end of the previous consolidated fiscal year.
  13. FY2023-Q2MitigatedAnnual report

    「Cash flows from financing activities decreased by ¥171 million, compared with an increase of ¥492 million in the same quarter of the previous year. This was mainly due to proceeds of ¥900 million from long-term borrowings and outflows of ¥1,097 million for repayment of long-term borrowings.」

    Repayments of long-term borrowings exceeded new borrowings, and the combined balance of short-term and long-term borrowings also decreased from the end of the previous consolidated fiscal year, reducing exposure to the risk of higher interest rates.
  14. FY2023-Q1WorsenedAnnual report

    「Liabilities increased by ¥663 million from the end of the previous consolidated fiscal year to ¥14,536 million. This was mainly due to increases of ¥619 million in advances received on uncompleted construction contracts and ¥289 million in long-term borrowings, partly offset by a ¥416 million decrease in notes and accounts payable, among other factors.」

    Long-term borrowings increased by ¥289 million from the end of the previous consolidated fiscal year, expanding exposure to the risk of higher interest rates.
  15. FY2022WorsenedAnnual report

    「Interest-bearing debt at the end of the consolidated fiscal year amounted to ¥6,514 million. In addition, borrowings from financial institutions are being used as the primary source of funding for the renovation of the Tokyo plant.」

    Interest-bearing debt increased from ¥6,158 million in the previous fiscal year to ¥6,514 million, and exposure to interest rate fluctuation risk is expanding because borrowings are also being used for the renovation of the Tokyo plant.
  16. FY2022-Q3WorsenedAnnual report

    「Liabilities increased by ¥1,439 million from the end of the previous consolidated fiscal year to ¥14,832 million. This was mainly due to increases of ¥929 million in notes and accounts payable and ¥1,369 million in long-term borrowings, partly offset by decreases of ¥438 million in short-term borrowings and ¥76 million in electronic recorded obligations, among other factors.」

    Long-term borrowings increased by ¥1,369 million, and total borrowings increased from the end of the previous fiscal year because the increase exceeded the decrease in short-term borrowings, expanding exposure to the risk of higher interest rates.
  17. FY2022-Q2WorsenedAnnual report

    「Liabilities decreased by ¥678 million from the end of the previous consolidated fiscal year to ¥12,714 million. This was mainly due to a ¥1,098 million increase in long-term borrowings, and decreases of ¥843 million in electronic recorded obligations and ¥493 million in short-term borrowings, among other factors.」

    Although total liabilities decreased, long-term borrowings increased by ¥1,098 million, causing total borrowings to increase despite the decrease in short-term borrowings. Exposure to the risk of higher interest rates is expanding.
  18. FY2022-Q1WorsenedAnnual report

    「Liabilities decreased by ¥640 million from the end of the previous consolidated fiscal year to ¥12,753 million. This was mainly due to a ¥1,185 million increase in long-term borrowings, partly offset by decreases of ¥707 million in electronic recorded obligations and ¥502 million in short-term borrowings, among other factors.」

    Although short-term borrowings decreased, long-term borrowings increased by ¥1,185 million, and the combined balance of short-term and long-term borrowings increased from approximately ¥6,158 million at the end of the previous fiscal year to approximately ¥6,318 million. Exposure to the risk of higher interest rates is expanding.
  19. FY2021WorsenedAnnual report

    「Interest-bearing debt at the end of the consolidated fiscal year amounted to ¥6,158 million. In addition, borrowings from financial institutions are being used as the primary source of funding for the renovation of the Tokyo plant.」

    Interest-bearing debt increased from ¥5,692 million to ¥6,158 million, and exposure to the risk of higher interest rates is expanding because borrowings will also be used for the renovation of the Tokyo plant.
  20. FY2021-Q3WorsenedAnnual report

    「Liabilities increased by ¥2,049 million from the end of the previous consolidated fiscal year to ¥13,320 million. This was mainly due to increases of ¥1,032 million in notes and accounts payable, ¥246 million in electronic recorded obligations, ¥326 million in short-term borrowings and ¥275 million in long-term borrowings, among other factors.」

    Short-term borrowings increased by ¥326 million and long-term borrowings by ¥275 million, expanding exposure to the risk of higher interest rates from the end of the previous fiscal year.
  21. FY2021-Q2WorsenedAnnual report

    「Liabilities increased by ¥5 million from the end of the previous consolidated fiscal year to ¥11,276 million. This was mainly due to increases of ¥298 million in notes and accounts payable and ¥161 million in short-term borrowings, and decreases of ¥191 million in electronic recorded obligations and ¥188 million in other payables, among other factors.」

    Short-term borrowings increased by ¥161 million, and the combined balance of short-term and long-term borrowings also increased from the end of the previous fiscal year, expanding exposure to the risk of higher interest rates.
  22. FY2021-Q1WorsenedAnnual report

    「Liabilities increased by ¥130 million from the end of the previous consolidated fiscal year to ¥11,400 million. This was mainly due to increases of ¥287 million in short-term borrowings and ¥433 million in long-term borrowings, partly offset by a ¥253 million decrease in notes and accounts payable, among other factors.」

    Both short-term and long-term borrowings increased, expanding exposure to the risk of higher interest rates through the increase in interest-bearing debt from the end of the previous fiscal year.
  23. FY2020RestatedAnnual report

    「Our group is working to reduce interest-bearing debt, but interest-bearing debt at the end of the consolidated fiscal year amounted to ¥5,692 million. If interest rates rise beyond our group’s assumptions, this may affect our group’s performance.」

    Interest-bearing debt of ¥5,692 million was disclosed, and the possibility that higher-than-expected interest rate increases could affect performance continues to be cited.
  24. FY2020-Q3WorsenedAnnual report

    「Liabilities decreased by ¥27 million from the end of the previous consolidated fiscal year to ¥11,538 million. This was mainly due to increases of ¥394 million in notes and accounts payable and ¥103 million in long-term borrowings, and decreases of ¥300 million in other payables and ¥225 million in electronic recorded obligations, among other factors.」

    Although total liabilities decreased, long-term borrowings increased by ¥103 million, and the combined balance of short-term and long-term borrowings also increased from the end of the previous fiscal year. Exposure to the risk of higher interest rates increased.
  25. FY2020-Q2MitigatedAnnual report

    「Liabilities decreased by ¥1,575 million from the end of the previous consolidated fiscal year to ¥9,989 million. This was mainly due to a ¥90 million increase in short-term borrowings, decreases of ¥711 million in notes and accounts payable, ¥333 million in electronic recorded obligations and ¥149 million in long-term borrowings, among other factors.」

    Short-term borrowings increased by ¥90 million, while long-term borrowings decreased by ¥149 million. The combined balance of short-term and long-term borrowings decreased from ¥5,526 million at the end of the previous fiscal year to ¥5,467 million, reducing exposure to the risk of higher interest rates.
  26. FY2020-Q1WorsenedAnnual report

    「Liabilities decreased by ¥124 million from the end of the previous consolidated fiscal year to ¥11,440 million. This was mainly due to a ¥197 million increase in short-term borrowings, a ¥243 million decrease in notes and accounts payable and a ¥92 million decrease in income taxes payable, among other factors.」

    Short-term borrowings increased by ¥197 million, and interest-bearing debt on the balance sheet, comprising total short-term and long-term borrowings, rose to approximately ¥6,041 million from ¥5,526 million at the end of the previous fiscal year. Exposure to the risk of higher interest rates increased.
  27. FY2019MitigatedAnnual report

    「Our group is working to reduce interest-bearing debt, but interest-bearing debt at the end of the consolidated fiscal year, comprising total long-term and short-term borrowings, amounted to ¥5,526 million. If interest rates rise beyond our assumptions, this may affect our group’s performance.」

    The risk of higher interest rates remains, but interest-bearing debt decreased from ¥5,889 million in the previous fiscal year to ¥5,526 million.
  28. FY2019-Q3WorsenedAnnual report

    「Liabilities decreased by ¥531 million from the end of the previous consolidated fiscal year to ¥12,074 million. This was mainly due to a ¥293 million increase in long-term borrowings, a ¥293 million decrease in the provision for directors’ retirement benefits and a ¥618 million decrease in notes and accounts payable, among other factors.」

    Although total liabilities decreased, long-term borrowings increased by ¥293 million. The combined balance of short-term and long-term borrowings increased from approximately ¥5,889 million at the end of the previous consolidated fiscal year to approximately ¥6,193 million at the end of the third quarter, expanding exposure to the risk of higher interest rates.
  29. FY2019-Q2MitigatedAnnual report

    「Cash flows from financing activities decreased by ¥265 million, compared with an increase of ¥179 million in the same quarter of the previous year. This was mainly due to proceeds of ¥1,050 million from long-term borrowings and outflows of ¥1,263 million for repayment of long-term borrowings.」

    Repayments of long-term borrowings exceeded new borrowings, and the combined balance of short-term and long-term borrowings also decreased from ¥5,889 million at the end of the previous consolidated fiscal year to ¥5,775 million. Exposure to the risk of higher interest rates has decreased.
  30. FY2019-Q1WorsenedAnnual report

    「Liabilities increased by ¥510 million from the end of the previous consolidated fiscal year to ¥13,116 million. This was mainly due to increases of ¥511 million in short-term and long-term borrowings and ¥140 million in electronic recorded obligations, partly offset by a ¥193 million decrease in income taxes payable, among other factors.」

    Short-term and long-term borrowings increased by a combined ¥511 million, and interest-bearing debt rose from ¥5,889 million at the end of the previous consolidated fiscal year to approximately ¥6,401 million. Although there was no statement assessing the risk of higher interest rates itself, borrowings exposed to that risk increased.
  31. FY2018MitigatedAnnual report

    「Interest-bearing debt at the end of the consolidated fiscal year amounted to ¥5,889 million, comprising total long-term and short-term borrowings. If interest rates rise beyond our assumptions, this may affect our group’s performance.」

    The risk of higher interest rates remains, but interest-bearing debt decreased from the ¥6,270 million reported previously to ¥5,889 million.
  32. FY2018-Q3Disclosed an increase in borrowingsAnnual report

    「Liabilities increased by ¥769 million from the end of the previous consolidated fiscal year to ¥12,948 million. This was mainly due to increases of ¥223 million in short-term borrowings and ¥187 million in long-term borrowings, among other factors.」

    Increases in short-term and long-term borrowings were disclosed. However, there was no disclosure regarding the impact of, or an assessment of, the risk of higher interest rates.
  33. FY2017First statedAnnual report

    「Our group is working to reduce interest-bearing debt based on the Fifth Three-Year Medium-Term Management Plan. However, interest-bearing debt at the end of the consolidated fiscal year, comprising total long-term and short-term borrowings, amounted to ¥6,270 million. If interest rates rise beyond our assumptions, this may affect our group’s performance.」

    Interest-bearing debt of ¥6,270 million was reported, with higher-than-expected interest rate increases identified as a risk to performance.
Moved together

"Downside risks to economic conditions from crude oil prices, a slowdown in emerging markets, and fluctuations in foreign exchange rates and stock prices" moved the same way as this thread, in the same document, in 16 of its 33 moves.

16161411109★123456
  1. ★This thread
  2. 1Downside risks to economic conditions from crude oil prices, a slowdown in emerging markets, and fluctuations in foreign exchange rates and stock prices16×
  3. 2Medium- to long-term targets of a 30% equity ratio and 8% ROE16×
  4. 3Improving Profitability by Strengthening Cost Competitiveness14×
  5. 4Reduction of Interest-Bearing Debt Under the Fifth Medium-Term Three-Year Management Plan11×
  6. 5Weak Demand and Intensifying Competition for Orders in the Concrete Pile Market10×
  7. 6Liquidity risk of being unable to make payments when due9×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Toyo Asano Foundation yet. It last moved in the Earnings of 2026-10-09: "Mitigated".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Risk of Higher Finance Costs Due to Rising Interest Rates | TOYO ASANO FOUNDATION CO.,LTD. (5271) | Komori