Borrowing Dependence and Liquidity Risk
First written in FY2016. 19 of 30 entries say "Mitigated", first in FY2017-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2017: 26 of 105 companies on the "Worse" side.
84 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「At the end of the consolidated fiscal year, interest-bearing debt, including borrowings, bonds and lease liabilities, stood at ¥302.917 million, while cash and cash equivalents stood at ¥3,087.552 million.」
Interest-bearing debt stood at ¥302.917 million and cash and cash equivalents at ¥3,087.552 million, maintaining a position in which available liquidity substantially exceeded interest-bearing debt. Cash flow from operating activities was also an inflow of ¥756.705 million. - FY2026-H1MitigatedAnnual report
「Total liabilities stood at ¥1,677.477 million, down ¥838.399 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥370.993 million in other current liabilities, ¥290.288 million in notes and accounts payable and ¥174.737 million in accrued income taxes.」
Although cash and cash equivalents decreased by ¥88.590 million, total liabilities declined by ¥838.399 million and short-term borrowings also fell to ¥150.000 million. Overall, reliance on borrowings and liquidity exposure declined. - FY2025-H1MitigatedAnnual report
「Total liabilities stood at ¥1,664.537 million, down ¥1,588.448 million from the end of the previous consolidated fiscal year. …… Cash and cash equivalents at the end of the interim consolidated fiscal period stood at ¥2,127.518 million, down ¥318.913 million from the end of the previous consolidated fiscal year.」
Although cash and cash equivalents decreased, total liabilities declined by ¥1,588.448 million from the end of the previous fiscal year, and short-term borrowings also fell to ¥100.000 million. Overall, reliance on borrowings and liquidity exposure declined. - FY2024MitigatedAnnual report
「At the end of the consolidated fiscal year, interest-bearing debt, including borrowings, bonds and lease obligations, stood at ¥319.961 million, while cash and cash equivalents stood at ¥2,446.431 million.」
Interest-bearing debt decreased from ¥1,194.351 million at the end of the previous fiscal year to ¥319.961 million, while cash and cash equivalents stood at ¥2,446.431 million. Reliance on borrowings and liquidity exposure declined further. - FY2024-Q3MitigatedAnnual report
「Total liabilities stood at ¥2,398.637 million, down ¥857.699 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥747.282 million in short-term borrowings and ¥168.479 million in notes and accounts payable.」
Although cash and deposits decreased by ¥599.483 million, total liabilities and short-term borrowings declined substantially, reducing reliance on borrowings and liquidity exposure from the end of the previous consolidated fiscal year. - FY2024-Q2MitigatedAnnual report
「Cash and cash equivalents, hereinafter referred to as "funds," stood at ¥2,179.221 million at the end of the second quarter of the current consolidated fiscal year, up ¥157.765 million from the end of the previous consolidated fiscal year. …… Total liabilities stood at ¥2,050.902 million, down ¥1,205.434 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥486.752 million decrease in short-term borrowings……」
Cash and cash equivalents increased, while total liabilities and short-term borrowings decreased. Cash flow from operating activities was also a positive ¥1,019.249 million, indicating an improvement in liquidity and reduced reliance on borrowings. - FY2023MitigatedAnnual report
「At the end of the consolidated fiscal year, interest-bearing debt, including borrowings, bonds and lease obligations, stood at ¥1,194.351 million, while cash and cash equivalents stood at ¥2,021.456 million.」
Interest-bearing debt decreased from ¥1,250.667 million at the end of the previous fiscal year to ¥1,194.351 million, while cash and cash equivalents of ¥2,021.456 million continued to exceed interest-bearing debt. The company also stated its policy of securing liquidity through short-term borrowings, overdraft facilities and other means. - FY2023-Q3WorsenedAnnual report
「Total assets at the end of the third quarter of the current consolidated fiscal year stood at ¥8,189.748 million, up ¥768.026 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥752.422 million in notes and accounts receivable and contract assets, ¥159.701 million in work in process, ¥157.545 million in electronically recorded monetary claims and ¥149.095 million in land, despite a ¥371.495 million decrease in cash and deposits. Total liabilities stood at ¥2,910.576 million, up ¥459.015 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥477.166 million in notes and accounts payable and ¥155.633 million in short-term borrowings, despite decreases of ¥160.453 million in accrued income taxes and ¥129.476 million in current maturities of long-term borrowings.」
Cash and deposits decreased by ¥371.495 million, while total liabilities increased by ¥459.015 million and short-term borrowings increased by ¥155.633 million, indicating greater reliance on borrowings and increased liquidity exposure from the end of the previous fiscal year. - FY2023-Q2WorsenedAnnual report
「Cash and cash equivalents, hereinafter referred to as "funds," stood at ¥1,780.661 million at the end of the second quarter of the current consolidated fiscal year, down ¥246.631 million from the end of the previous consolidated fiscal year.」
Cash and cash equivalents decreased by ¥246.631 million from the end of the previous fiscal year, reducing the liquidity buffer. Cash flow from operating activities was a positive ¥50.490 million, while short-term borrowings stood at ¥865.594 million, both down from the end of the previous fiscal year. - FY2023-Q1WorsenedAnnual report
「Total liabilities stood at ¥2,813.398 million, up ¥361.837 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥311.152 million in short-term borrowings and ¥113.774 million in notes and accounts payable, despite a ¥180.884 million decrease in other current liabilities.」
Short-term borrowings increased by ¥311.152 million and total liabilities increased by ¥361.837 million. Cash and deposits decreased by ¥521.464 million, indicating a shift from the improved liquidity position at the end of the previous fiscal year to greater reliance on borrowings and cash outflows. - FY2022MitigatedAnnual report
「At the end of the consolidated fiscal year, interest-bearing debt, including borrowings and lease obligations, stood at ¥1,250.667 million, while cash and cash equivalents stood at ¥2,027.293 million.」
Cash and cash equivalents stood at ¥2,027.293 million, exceeding interest-bearing debt of ¥1,250.667 million. Although short-term borrowings increased, the company disclosed a policy of maintaining sufficient liquidity on hand. - FY2022-Q3MitigatedAnnual report
「Total assets at the end of the third quarter of the current consolidated fiscal year stood at ¥6,823.128 million, up ¥322.018 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥325.067 million in notes and accounts receivable and contract assets and ¥218.569 million in cash and deposits, despite a ¥205.483 million decrease in other current assets. Total liabilities stood at ¥2,275.852 million, down ¥256.974 million from the end of the previous consolidated fiscal year.」
Cash and deposits increased by ¥218.569 million and total liabilities decreased by ¥256.974 million, indicating an improvement in liquidity and reduced reliance on borrowings from the previous period. Short-term borrowings, however, increased by ¥344.685 million. - FY2022-Q2WorsenedAnnual report
「Cash and cash equivalents, hereinafter referred to as "funds," stood at ¥1,204.032 million at the end of the second quarter of the current consolidated fiscal year, down ¥380.952 million from the end of the previous consolidated fiscal year. …… Total liabilities stood at ¥2,315.249 million, down ¥217.577 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥365.872 million in notes and accounts payable and ¥120.496 million in other current liabilities, despite a ¥266.548 million increase in short-term borrowings.」
Cash and cash equivalents decreased while short-term borrowings increased. Although total liabilities declined, the company’s reliance on short-term borrowings and negative cash flow from operating activities of ¥421.306 million indicate increased liquidity exposure. - FY2021MitigatedAnnual report
「At the end of the consolidated fiscal year, interest-bearing debt, including borrowings and lease obligations, stood at ¥796.926 million, while cash and cash equivalents stood at ¥1,584.985 million.」
Interest-bearing debt decreased from ¥1,444.438 million at the end of the previous fiscal year to ¥796.926 million, while cash and cash equivalents increased from ¥978.383 million to ¥1,584.985 million. Cash flow from operating activities was also a positive ¥1,693.909 million, indicating an improvement in liquidity and reduced reliance on borrowings. - FY2021-Q3MitigatedAnnual report
「Total liabilities stood at ¥2,627.048 million, down ¥686.373 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥643.447 million in short-term borrowings and ¥378.873 million in other current liabilities, despite increases of ¥150.000 million in long-term borrowings and ¥139.903 million in notes and accounts payable.」
Short-term borrowings and total liabilities decreased from the end of the previous consolidated fiscal year, indicating a partial reduction in reliance on borrowings and liquidity exposure. - FY2021-Q2MitigatedAnnual report
「Total liabilities stood at ¥2,560.953 million, down ¥752.467 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥491.219 million in other current liabilities and ¥400.546 million in short-term borrowings, despite a ¥200.000 million increase in long-term borrowings.」
Although cash and cash equivalents decreased by ¥118.612 million, short-term borrowings and total liabilities declined from the end of the previous fiscal year, indicating a partial reduction in reliance on borrowings and liquidity exposure. - FY2021-Q1MitigatedAnnual report
「Cash and deposits increased by ¥339.985 million, while long-term borrowings increased by ¥200.000 million. At the same time, other current liabilities decreased by ¥551.373 million and short-term borrowings decreased by ¥175.077 million.」
As cash and deposits increased while short-term borrowings and other current liabilities decreased, total liabilities fell by ¥578.254 million from the end of the previous fiscal year, indicating an improvement in liquidity and reduced reliance on borrowings from the previous period. - FY2020WorsenedAnnual report
「At the end of the consolidated fiscal year, interest-bearing debt, including borrowings and lease obligations, stood at ¥1,444.438 million, while cash and cash equivalents stood at ¥978.383 million.」
Interest-bearing debt increased from ¥1,089.289 million at the end of the previous fiscal year to ¥1,444.438 million, while cash and cash equivalents decreased from ¥1,058.555 million to ¥978.383 million. The company has stated that it intends to secure sufficient liquidity through internal funds, short-term borrowings and overdraft facilities. - FY2020-Q2MitigatedAnnual report
「Cash and cash equivalents, hereinafter referred to as funds, at the end of the second quarter of the current consolidated accounting period were ¥1,156,841 thousand, an increase of ¥98,286 thousand from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥84,236 thousand in other non-current liabilities and ¥73,694 thousand in short-term borrowings, while other current liabilities increased by ¥287,791 thousand and notes and accounts payable increased by ¥177,954 thousand.」
Cash and cash equivalents increased by ¥98.286 million from the end of the previous fiscal year, while short-term borrowings decreased by ¥73.694 million. Cash flow from operating activities was also a positive ¥377.478 million, indicating an improvement in liquidity from the previous period. - FY2019RestatedAnnual report
「Short-term working capital and research and development expenses are funded primarily with internal funds and short-term borrowings from financial institutions. The company secures sufficient liquidity by monitoring its cash-flow position and outlook and entering into overdraft agreements with numerous financial institutions.」
The company indicates that it will continue securing liquidity through internal funds, short-term borrowings, and overdraft agreements with numerous financial institutions even after cancelling the commitment line. Interest-bearing debt was ¥1,089,289 thousand, and cash and cash equivalents were ¥1,058,555 thousand. - FY2019-Q3RestatedAnnual report
「Total liabilities were ¥2,696,252 thousand, an increase of ¥17,084 thousand from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥157,605 thousand in short-term borrowings and ¥56,587 thousand in other non-current liabilities, despite a decrease of ¥187,616 thousand in notes and accounts payable.」
Short-term borrowings increased by ¥157,605 thousand from the end of the previous consolidated fiscal year, and borrowing dependence and liquidity exposure continue. - FY2019-Q2WorsenedAnnual report
「Cash and cash equivalents, hereinafter referred to as funds, at the end of the second quarter of the current consolidated accounting period were ¥1,006,962 thousand, a decrease of ¥376,563 thousand from the end of the previous consolidated fiscal year. Total liabilities were ¥2,861,103 thousand, an increase of ¥181,935 thousand from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥388,120 thousand in short-term borrowings, despite decreases of ¥103,497 thousand in notes and accounts payable and ¥102,610 thousand in other current liabilities.」
Cash and cash equivalents declined by ¥376,563 thousand from the previous fiscal year-end, while short-term borrowings increased by ¥388,120 thousand, indicating greater borrowing dependence and liquidity exposure. - FY2018MitigatedAnnual report
「For capital investment and long-term working capital, the company intends to obtain long-term borrowings from financial institutions if a shortfall arises, after taking available liquidity into account. At the end of the current consolidated fiscal year, interest-bearing debt, including borrowings and lease liabilities, was ¥1,303,263 thousand, while cash and cash equivalents were ¥1,383,526 thousand.」
The company disclosed that interest-bearing debt was reduced through repayment of borrowings and that cash and cash equivalents exceeded interest-bearing debt. It continues its policy of securing liquidity through overdraft agreements and commitment lines. - FY2018-Q3MitigatedAnnual report
「The syndicated commitment line agreement was extended, but the balance of borrowings under the agreement was zero at the end of the third quarter of the current consolidated fiscal year, and the company does not plan to take out new borrowings. Borrowing is conducted through bilateral transactions with financial institutions, and the company considers that near-term business funding is secured and that it faces no financial impediment.」
The company states that borrowings under the syndicated agreement have fallen to zero and that near-term business funding is secured through bilateral borrowings and its relationships with financial institutions. - FY2018-Q2MitigatedAnnual report
「The company also maintains good relationships with its relationship financial institutions and has secured near-term business funding by increasing its credit facilities and entering into new overdraft agreements. It therefore considers that it faces no financial impediment.」
In addition to the previous extension of the commitment line and switch to bilateral transactions, the company is reaffirming that near-term funding has been secured through increased credit facilities and new overdraft agreements. - FY2018-Q1MitigatedAnnual report
「The commitment line agreement that was under discussion at the end of the previous consolidated fiscal year was extended on 5 October 2017 through 4 October 2018. Financial institutions that did not participate in the extension switched to bilateral transactions, increased the credit facilities available to the company, and continued their dealings with it. The company therefore considers that it faces no financial impediment.」
The company progressed from discussions with financial institutions to extending the commitment line, switching to bilateral transactions, and increasing its credit facilities, and considers that it faces no financial impediment. - FY2017-Q3RestatedAnnual report
「The company is holding discussions to obtain support from its relationship financial institutions for the purpose of securing near-term business funding.」
The company is reaffirming its policy of holding discussions with financial institutions to secure business funding. - FY2017-Q2WorsenedAnnual report
「The company is holding discussions to obtain support from its relationship financial institutions and secure near-term business funding.」
The disclosure has changed from stating in the previous quarter that near-term business funding was secured to stating that the company is discussing support with financial institutions. Cash and cash equivalents at the end of the second quarter were ¥565,026 thousand, down ¥394,439 thousand from the beginning of the period. - FY2017-Q1MitigatedAnnual report
「The company is not in breach of the financial covenants attached to the commitment line supporting its working capital, and has obtained a degree of understanding from the consortium of banks comprising the commitment line. It therefore considers that its near-term business funding is secured.」
The company states that there has been no breach of the financial covenants and that near-term business funding has been secured with the understanding of the consortium of banks. - FY2016First statedAnnual report
「To procure working capital efficiently, the company has entered into a syndicated long-term lending commitment agreement with 4 relationship banks.」
The company disclosed total lending commitments of ¥2,000,000 thousand, drawn borrowings of ¥1,200,000 thousand, and an undrawn amount of ¥800,000 thousand.