Higher Funding Costs Due to Rising Interest Rates and Credit Downgrades
First written in FY2023. 3 of 4 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2025: 12 of 50 companies on the "Worse" side.
33 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, the global economy was generally on a gradual recovery path, although uncertainty caused by U.S. trade policy and persistently high interest rates, particularly in Europe and the United States, continued and some regions showed signs of stagnation.」
Interest rates remain high, particularly in Europe and the United States, and the previously identified concern about the impact of higher interest rates on the business environment continues. - FY2025RestatedAnnual report
「If policy interest rates are raised, or if credit-rating agencies downgrade the Company's credit rating, primarily in Japan, the Americas and Europe, financing costs may increase and affect business performance.」
Continues to identify the risk of higher financing costs resulting from policy rate hikes and credit downgrades, with diversification of funding sources, including borrowings and corporate bonds, as a response. - FY2025-H1RestatedAnnual report
「During the current interim consolidated accounting period, the global economy entered a recovery trend, although concerns arose over the impact of heightened geopolitical risks, including escalating tensions in the Middle East, and persistently high interest rates in the United States and Europe.」
Reiterates the previously identified risk that persistently high interest rates in Europe and the United States could affect financing and the economy. - FY2023First statedAnnual report
「If policy interest rates are raised to combat inflation, particularly in the Americas and Europe, or if credit-rating agencies downgrade the Company's credit rating, funding costs may increase and affect results.」
Higher funding costs resulting from policy rate hikes or credit-rating downgrades have been newly identified as a funding-related risk.