Liquidity and Interest Rate Risk on Borrowings
First written in FY2018. 12 of 23 entries say "Worsened", first in FY2019. Latest entry: FY2026.
Adventure moved to the "Worse" side of this theme in 2019, 3 years before the typical company in this theme (2022).
The whole theme swung hardest in 2017: 3 of 11 companies on the "Worse" side.
8 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Interest-bearing debt (¥ thousand) 7,121,843 10,424,657 Less: Cash and cash equivalents (¥ thousand) 16,344,995 13,263,692 Net interest-bearing debt (¥ thousand) △9,223,152 △2,839,035 Equity (¥ thousand) 8,988,391 9,038,268 Equity ratio (%) 32.7 32.1」
Interest-bearing debt increased from ¥7,121,843 thousand in the previous fiscal year to ¥10,424,657 thousand, while the negative net interest-bearing debt figure narrowed as cash declined. The equity ratio decreased from 32.7% to 32.1%. - FY2026-H1WorsenedAnnual report
「Cash provided by financing activities during the six-month period was ¥484.328 million (cash used of ¥995.408 million in the same period of the previous year). This was mainly attributable to proceeds from long-term borrowings.」
Proceeds of ¥1,100.000 million from long-term borrowings increased the carrying amount of long-term borrowings from ¥6,612.334 million at the end of the previous fiscal year to ¥7,423.773 million. Although total liabilities declined, exposure to borrowings increased. - FY2024WorsenedAnnual report
「Interest-bearing debt (¥ thousands) 3,656,672 8,414,007 Less: Cash and cash equivalents (¥ thousands) 14,004,852 17,007,750 Net interest-bearing debt (¥ thousands) △10,348,180 △8,593,742 Equity (¥ thousands) 11,363,455 11,050,813 Equity ratio (%) 48.3 37.2」
Interest-bearing debt increased from ¥3,656.672 million to ¥8,414.007 million, while the equity ratio declined from 48.3% to 37.2%. Net interest-bearing debt remained negative due to the increase in cash. - FY2024-Q3WorsenedAnnual report
「Total liabilities at the end of the third quarter of the current consolidated fiscal year were ¥17,129.988 million, up ¥4,951.450 million from the end of the previous consolidated fiscal year. The main factor behind the increase was an increase in bonds and borrowings.」
Total liabilities increased by ¥4,951.450 million from the end of the previous consolidated fiscal year due to long-term borrowings related to the acquisition of Tabikobo and working capital, among other factors. The carrying amount of long-term borrowings also increased from ¥2,949.114 million to ¥7,829.679 million. Exposure to liquidity and interest-rate risk is expanding further. - FY2024-Q2WorsenedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year were ¥16,044.144 million, up ¥3,865.606 million from the end of the previous consolidated fiscal year. The main factor behind the increase was an increase in bonds and borrowings.」
Total liabilities increased by ¥3,865.606 million from the end of the previous consolidated fiscal year, mainly due to the drawdown of ¥5,000.000 million in long-term borrowings. Exposure to liquidity and interest-rate risk related to borrowings is expanding again. - FY2024-Q1WorsenedAnnual report
「① Lenders MUFG Bank, Ltd. Mizuho Bank, Ltd. ② Borrowing amount ¥3,000 million ¥2,000 million ③ Interest rate Fixed rate Floating rate ⑤ Borrowing term 7 years 5 years」
The company drew down a total of ¥5 billion in new borrowings to fund the acquisition of shares in Tabikobo and working capital. The borrowings include both fixed-rate and floating-rate facilities, increasing exposure to borrowings and interest-rate movements. - FY2023-Q3MitigatedAnnual report
「During the nine-month period ended [the current third quarter], financing activities resulted in a net cash outflow of ¥627.714 million, compared with net cash inflow of ¥4,881.572 million in the same period of the previous year. This was mainly due to ¥368.430 million in repayments of long-term borrowings.」
As repayment of long-term borrowings progressed, long-term borrowings decreased from ¥3,528.749 million at the end of the previous consolidated fiscal year to ¥3,160.319 million. Exposure to borrowings continues to decline. - FY2023-Q2MitigatedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year were ¥9,366.815 million, down ¥1,849.787 million from the end of the previous consolidated fiscal year. The main factors behind the decrease were reductions in trade and other payables, bonds and borrowings, and current income tax payables.」
Total liabilities decreased by ¥1,849.787 million from the end of the previous consolidated fiscal year due to the repayment of long-term borrowings and other factors. Exposure to borrowings continued to decline. - FY2023-Q1MitigatedAnnual report
「Total liabilities at the end of the first quarter of the current consolidated fiscal year were ¥9,594.657 million, down ¥1,621.945 million from the end of the previous consolidated fiscal year. The main factors behind the decrease were reductions in trade and other payables, bonds and borrowings, and current income tax payables.」
Total liabilities decreased by ¥1,621.945 million from the end of the previous consolidated fiscal year due to reductions in bonds and borrowings and continued repayments. Exposure to borrowings continued to decline. - FY2022MitigatedAnnual report
「Interest-bearing debt (¥ thousands) 4,189,053 Less: Cash and cash equivalents (¥ thousands) 12,754,783 Net interest-bearing debt (¥ thousands) △8,565,729 Equity (¥ thousands) 9,619,282 Equity ratio (%) 46.2」
Interest-bearing debt decreased from ¥6,962.531 million in the previous fiscal year to ¥4,189.053 million, while cash and cash equivalents amounted to ¥12,754.783 million. As a result, net interest-bearing debt was negative ¥8,565.729 million and the equity ratio was 46.2%. This indicated continued reduction in exposure to borrowings. - FY2022-Q3MitigatedAnnual report
「Cash provided by financing activities during the nine-month period ended in the third quarter was ¥4,881.572 million (cash used of ¥3,215.015 million in the same period of the previous year). This was mainly attributable to proceeds of ¥5,350.486 million from the issuance of shares, proceeds of ¥364.987 million from the sale of treasury shares, and an outflow of ¥582.865 million for the repayment of long-term borrowings.」
The carrying amount of long-term borrowings decreased from ¥4,748.870 million at the end of the previous consolidated fiscal year to ¥4,066.005 million as repayment of long-term borrowings continued. Exposure to borrowings continues to decline. - FY2022-Q2MitigatedAnnual report
「This was mainly attributable to proceeds of ¥5,375.310 million from the issuance of shares, proceeds of ¥366.675 million from the sale of treasury shares, and an outflow of ¥364.471 million for the repayment of long-term borrowings.」
An outflow of ¥364.471 million arose from the repayment of long-term borrowings, reducing long-term borrowings from ¥4,748.870 million at the end of the previous consolidated fiscal year to ¥4,384.399 million. - FY2022-Q1MitigatedAnnual report
「Total liabilities at the end of the first quarter of the current consolidated fiscal year were ¥9,449.504 million, a decrease of ¥438.579 million from the end of the previous consolidated fiscal year. The main factors behind the decrease were declines in bonds and borrowings and income taxes payable.」
Total liabilities decreased by ¥438.579 million from the end of the previous consolidated fiscal year, due to decreases in bonds and borrowings and the repayment of long-term borrowings. Exposure to borrowings continues to decline. - FY2021MitigatedAnnual report
「Interest-bearing debt (¥ thousand) 11,054,877 6,962,531 Less: Cash and cash equivalents (¥ thousand) 6,998,325 5,105,449 Net interest-bearing debt (¥ thousand) 4,056,551 1,857,081 Equity ratio (%) 8.8 18.9」
Interest-bearing debt and net interest-bearing debt declined from the end of the previous fiscal year, while the equity ratio increased from 8.8% to 18.9%, indicating reduced exposure to borrowings. - FY2021-Q2MitigatedAnnual report
「Total liabilities at the end of the second quarter of the current consolidated fiscal year were ¥9,537.733 million, a decrease of ¥5,894.346 million from the end of the previous consolidated fiscal year. This was mainly because, as with the previously mentioned assets, certain consolidated subsidiaries were excluded from consolidation following the transfer of their shares, reducing operating liabilities and other liabilities, bonds and borrowings, lease liabilities and other operating-related liabilities.」
The exclusion of a consolidated subsidiary following the transfer of its shares and borrowing repayments reduced total liabilities and operating-related liabilities, including bonds and borrowings and lease liabilities, thereby reducing exposure to borrowings. - FY2021-Q1MitigatedAnnual report
「Cash used in financing activities during the cumulative first-quarter period was ¥841.439 million, compared with cash provided of ¥28.988 million in the previous cumulative first-quarter period. This was mainly due to repayments of short- and long-term borrowings.」
Repayments of short- and long-term borrowings progressed, making repayments the main cause of the quarter's cash outflows associated with borrowings. Total liabilities also declined by ¥5,678.487 million from the end of the previous consolidated fiscal year, mainly due to the exclusion of a subsidiary from the scope of consolidation. - FY2020WorsenedAnnual report
「Interest-bearing debt (¥ thousand) 9,703,586 11,054,877 Less: Cash and cash equivalents (¥ thousand) 6,247,796 4,056,551 Net interest-bearing debt (¥ thousand) 6,247,796 4,056,551」
Interest-bearing debt increased from ¥9,703.586 million at the end of the previous fiscal year to ¥11,054.877 million, expanding total exposure including borrowings and lease liabilities. Meanwhile, net interest-bearing debt declined due to an increase in cash. - FY2020-Q3WorsenedAnnual report
「At a meeting of the Board of Directors held on 22 April 2020, the Company resolved to borrow funds. In response to the impact of the spread of COVID-19 on its business, the borrowing was undertaken to maintain ample liquidity and stabilize operations. (1) Lender 株式会社三菱UFJ銀行 (2) Borrowing amount ¥2,000 million (3) Drawdown date 30 April 2020 (4) Repayment term 1 year (5) Collateral None」
The disclosure of a resolution to execute additional borrowings of ¥2,000.000 million to secure liquidity on hand indicated an increase in exposure to borrowings. - FY2020-Q1WorsenedAnnual report
「This was mainly due to a net increase of ¥330.679 million in short-term borrowings and ¥300.000 million in proceeds from long-term borrowings, despite cash outflows of ¥409.081 million for repayments of long-term borrowings and ¥100.112 million for repayments of lease liabilities.」
Short-term borrowings increased on a net basis and long-term borrowings were executed, resulting in continued liquidity exposure associated with borrowings. - FY2019WorsenedAnnual report
「Borrowings are exposed to liquidity risk. Based on reports from each department, the responsible department prepares and updates funding plans in a timely manner and manages liquidity risk by maintaining liquidity on hand and taking other measures.」
Interest-bearing debt increased from ¥4,878.153 million in the previous fiscal year to ¥9,703.586 million, increasing exposure to the liquidity risk associated with borrowings. - FY2018First statedAnnual report
「Borrowings are exposed to liquidity risk. Some borrowings carry variable interest rates and are exposed to interest rate risk.」
In connection with the increase in borrowings, the Company disclosed securing funds for repayment and interest rate fluctuations arising from variable-rate borrowings as financial risks.