Funding Costs and Investment Constraints from Increased Borrowing and Interest-Rate Changes
First written in FY2024. 4 of 7 entries say "Worsened", first in 2026-06-04. Latest entry: 2026-08-28.
Stg moved to the "Worse" side of this theme in 2026, 2 years after the typical company in this theme (2024).
The whole theme swung hardest in 2025: 16 of 29 companies on the "Worse" side.
15 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Interest-bearing debt, excluding lease obligations, was ¥2,798 million as of 31 March 2025, representing 42.06% of total liabilities and net assets, and ¥4,708 million as of 31 March 2026, representing 48.85%.」
Interest-bearing debt increased from ¥2,798 million to ¥4,708 million, and its ratio to total liabilities and net assets rose from 42.06% to 48.85%, increasing exposure to borrowing and interest-rate risks. - FY2025MitigatedAnnual report
「Interest-bearing debt, excluding lease obligations, was ¥2,874 million as of 31 March 2024, representing 48.80% of total liabilities and net assets, and ¥2,798 million as of 31 March 2025, representing 42.06%.」
Interest-bearing debt decreased by ¥76 million, and its ratio to total liabilities and net assets fell by 6.74 percentage points. Risks from higher liabilities associated with new capital investment and interest-rate fluctuations remain. - FY2024First statedAnnual report
「Interest-bearing debt was ¥2,727 million as of 31 March 2023, representing 53.72% of total liabilities and net assets, and ¥2,874 million as of 31 March 2024, representing 48.80%.」
The Group identifies as risks the increase in liabilities accompanying capital investment, changes in interest rates and financial conditions, and investment constraints if funding cannot be obtained as planned.