Funding and Liquidity Supporting Capital Expenditure and M&A
First written in FY2016. 21 of 32 entries say "Mitigated", first in FY2017. Latest entry: 2026-09-30.
Nidec moved to the "Worse" side of this theme in 2026, 1 year after the typical company in this theme (2025).
The whole theme swung hardest in 2025: 12 of 50 companies on the "Worse" side.
16 other companies' latest entry also says "Worsened".
- 2026-09-30WorsenedFinancial results
「Interest-bearing debt was ¥1,200.365 billion (¥639.192 billion at the end of the previous fiscal year), net interest-bearing debt was ¥303.556 billion (¥392.938 billion at the end of the previous fiscal year), and the borrowing ratio including lease obligations was 31.5% (21.9% at the end of the previous fiscal year). The debt-to-equity ratio was 0.86x (0.52x at the end of the previous fiscal year), while the net debt-to-equity ratio was 0.22x (0.32x at the end of the previous fiscal year).」
While net interest-bearing debt decreased, interest-bearing debt, the borrowing ratio and the debt-to-equity ratio increased from the end of the previous fiscal year. - FY2026WorsenedAnnual report
「As of 31 March 2026, these commitment line agreements were in breach of the financial covenants under (2) above, but remained undrawn. As of the filing date of the securities report, the company had obtained consent from MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation to waive their rights to demand acceleration arising from the breach of financial covenants and other conditions.」
While securing ¥600 billion in commitment lines, the company disclosed a breach of the net worth maintenance covenant. The facilities remained undrawn, and waivers of the rights to demand acceleration had been obtained. - FY2026-H1MitigatedAnnual report
「The purpose is to secure flexible and stable funding measures and strengthen the financial base. Borrowing limit: ¥300 billion; ¥300 billion. Contract term: 7 November 2025 to 6 November 2026 (1 year)」
While the investigation remains ongoing, the company entered into unsecured, unguaranteed commitment line agreements with its 2 principal transaction banks, ¥300 billion each and ¥600 billion in total, securing liquidity. - FY2025Update on undrawn borrowing facilities and outstanding borrowingsAnnual report
「NIDEC's undrawn borrowing facilities amounted to ¥1,307.059 billion at the end of the fiscal year.」
While securing ¥1,307.059 billion in undrawn borrowing facilities, short-term borrowings amounted to ¥93.710 billion and long-term debt to ¥542.336 billion. - FY2025-H1WorsenedAnnual report
「Net interest-bearing debt was ¥452.676 billion (¥383.894 billion at the end of the previous fiscal year), while the borrowing ratio including lease liabilities was 21.0% (19.0% at the end of the previous fiscal year). The debt-to-equity ratio was 0.42x (0.37x at the end of the previous fiscal year), and the net debt-to-equity ratio was 0.28x (0.24x at the end of the previous fiscal year).」
Net interest-bearing debt, the borrowing ratio and the debt-to-equity ratio increased from the end of the previous fiscal year following the consolidation of PSA e-Motors as a subsidiary and other factors. - FY2024MitigatedAnnual report
「NIDEC's undrawn borrowing facilities amounted to ¥1,340.242 billion at the end of the fiscal year.」
The company disclosed ¥1,340.242 billion in undrawn borrowing facilities, a shelf registration limit for bond issuance and its cash management system (CMS), securing funding capacity to support capital expenditures, M&A and other activities. - FY2024-Q3MitigatedAnnual report
「Although funds raised through long-term debt amounted to ¥50 billion, cash outflows totaled ¥77.505 billion due mainly to ¥85.228 billion in repayments of interest-bearing debt, centered on bond redemptions and short-term borrowings, and ¥40.227 billion in dividend payments to owners of the parent.」
While raising ¥50 billion through long-term debt, the company repaid ¥85.228 billion of interest-bearing debt and updated its funding management, including investment, shareholder returns and debt repayment. - FY2024-Q2MitigatedAnnual report
「Although funds raised through long-term debt amounted to ¥50 billion, cash outflows totaled ¥72.708 billion due mainly to ¥100.555 billion in repayments of interest-bearing debt, centered on bond redemptions and short-term borrowings, and ¥20.116 billion in dividend payments to owners of the parent.」
While raising ¥50 billion through long-term debt, the company repaid ¥100.555 billion of interest-bearing debt, reducing the balance of interest-bearing debt by ¥31.810 billion from the end of the previous fiscal year. - FY2024-Q1MitigatedAnnual report
「Total liabilities increased by ¥48.926 billion from the end of the previous fiscal year to ¥1,548.021 billion. The main factor was a ¥40.239 billion increase in trade and other payables. Meanwhile, interest-bearing debt decreased by ¥16.042 billion.」
While total liabilities including trade and other payables increased, interest-bearing debt decreased by ¥16.042 billion from the end of the previous fiscal year. - FY2023MitigatedAnnual report
「NIDEC's undrawn borrowing facilities amounted to ¥1,248 billion at the end of the fiscal year.」
The company secured funding measures including bonds, borrowings, its cash management system (CMS) and undrawn borrowing facilities, disclosing capacity to meet future M&A, research and development and capital expenditure needs. - FY2023-Q3Update on funding flows from borrowings, bond issuance and redemptions, and shareholder returnsAnnual report
「Cash flow from financing activities during the first 3 quarters of the current consolidated cumulative period was an outflow of ¥15.650 billion. Proceeds comprised ¥120 billion from bond issuance and ¥66.009 billion raised through long-term debt, while outflows included ¥135 billion for bond redemptions, ¥46.683 billion for the acquisition of treasury shares and ¥40.426 billion in dividend payments to owners of the parent.」
The company updated its funding and debt management, including bond issuance, long-term debt financing, bond redemptions, the acquisition of treasury shares and dividends. - FY2023-Q2Update on funding flows from borrowings, bond issuance and redemptions, and shareholder returnsAnnual report
「Cash flows from financing activities during the first six months of the fiscal year amounted to an outflow of ¥14.088 billion. This reflected, among other factors, a net increase of ¥80.234 billion in short-term borrowings and proceeds of ¥50 billion from the issuance of bonds, offset by expenditure of ¥85 billion for bond redemptions and ¥46.680 billion for the acquisition of treasury shares.」
The company updated its funding and debt management, including an increase in short-term borrowings, ¥50 billion in bond issuance, ¥85 billion in bond redemptions and the acquisition of treasury shares. - FY2023-Q1MitigatedAnnual report
「On 6 July 2022, based on its shelf registration for domestic bonds (planned issue amount: ¥600 billion; expiry: 8 April 2024), the company determined the terms of issuance for straight bonds with a total issue amount of ¥50 billion as follows. … Use of proceeds: the funds are scheduled to be used to repay short-term borrowings.」
After the filing date, the company issued ¥50 billion in domestic unsecured bonds and raised funds to repay short-term borrowings. - FY2022Update on short-term borrowings and undrawn borrowing facilitiesAnnual report
「NIDEC's undrawn borrowing facilities amounted to ¥1,180.248 billion at the end of the fiscal year.」
While securing ¥1,180.248 billion in undrawn borrowing facilities, short-term borrowings increased by ¥99.658 billion year on year to ¥130.635 billion. - FY2022-Q3Increase in short-term borrowings and bond redemptionsAnnual report
「Cash flow from financing activities was an outflow of ¥32 billion. This reflected expenditures of ¥38.940 billion for bond redemptions and ¥35.132 billion in dividend payments to owners of the parent, partly offset by a net increase in short-term borrowings of ¥80.147 billion.」
The company disclosed financing activities including bond redemptions, dividends and an increase in short-term borrowings, updating its funding and debt management to support investment and shareholder returns. - FY2021MitigatedAnnual report
「NIDEC's undrawn borrowing facilities amounted to ¥1,318.218 billion at the end of the fiscal year.」
The company secured ¥1,318.218 billion in undrawn borrowing facilities and disclosed funding capacity through bonds, borrowings and operating cash flow. - FY2021-Q3MitigatedAnnual report
「Total liabilities decreased by ¥43.874 billion from the end of the previous fiscal year to ¥1,110.986 billion. The main factor was a ¥40.421 billion decrease in interest-bearing debt.」
The company disclosed that interest-bearing debt decreased by ¥40.421 billion from the end of the previous fiscal year and that total liabilities also declined. - FY2021-Q2RestatedAnnual report
「The principal uses of the ¥53.062 billion in funds during the first 2 quarters of the current consolidated cumulative period were expenditure of ¥17.679 billion for repayment of long-term debt, dividend payments to owners of the parent of ¥17.573 billion and a net decrease in short-term borrowings of ¥11.674 billion.」
While proceeding with long-term debt repayment, dividends and a reduction in short-term borrowings, the company also issued ¥50 billion in bonds and continued its funding and debt management. - FY2021-Q1MitigatedAnnual report
「Nippon Denko Co., Ltd. 12th series of unsecured bonds 10 June 2020 ¥50 billion 0.030 9 June 2023」
The company issued ¥50 billion of its 12th series of unsecured bonds and continued to secure funding measures to support capital expenditures, M&A and other activities, despite bond redemptions. - FY2020MitigatedAnnual report
「NIDEC's undrawn borrowing facilities amounted to ¥1,079.263 billion at the end of the fiscal year.」
The company disclosed ¥1,079.263 billion in undrawn borrowing facilities, bond issuance and operating cash flow, securing funding capacity to support acquisitions and capital expenditures. - FY2020-Q3MitigatedAnnual report
「The principal sources of the ¥156.672 billion in funds obtained during the first 3 quarters of the current consolidated cumulative period were ¥200 billion in proceeds from bond issuance and a net increase in short-term borrowings of ¥76.625 billion.」
The company continued to raise funds to support acquisitions and capital expenditures through ¥200 billion in bond issuance and an increase in short-term borrowings. - FY2020-Q2MitigatedAnnual report
「The principal sources of the ¥74.157 billion in funds obtained during the first 2 quarters of the current consolidated cumulative period were ¥100 billion in proceeds from bond issuance and a net increase in short-term borrowings of ¥24.232 billion.」
The issuance of ¥100 billion in bonds and an increase in short-term borrowings secured funding measures to support acquisitions and capital expenditures. - FY2020-Q1MitigatedAnnual report
「On 12 July 2019, based on its shelf registration for domestic bonds (planned issue amount: ¥300 billion; expiry: 4 April 2020), the company determined the terms of issuance for straight bonds with a total issue amount of ¥100 billion as follows.」
By the filing date, the company had issued ¥100 billion in domestic unsecured bonds and secured funding to repay short-term borrowings and redeem bonds. - FY2019MitigatedAnnual report
「NIDEC's undrawn borrowing facilities amounted to ¥1,056.826 billion at the end of the fiscal year.」
The company disclosed ¥1,056.826 billion in undrawn borrowing facilities, operating cash flow of ¥170.233 billion and funding measures including bond issuance, stating that these would enable it to meet future funding needs. - FY2019-Q3MitigatedAnnual report
「The principal uses of the ¥19.805 billion in funds during the first 3 quarters of the current consolidated cumulative period were dividend payments to owners of the parent of ¥29.486 billion, expenditure of ¥26.134 billion for the acquisition of treasury shares and expenditure of ¥15.814 billion for repayment of long-term debt. Meanwhile, proceeds from bond issuance were ¥39.642 billion.」
While paying dividends, acquiring treasury shares and repaying debt, the company raised ¥39.642 billion through bond issuance and continued to secure funding measures. - FY2019-Q2MitigatedAnnual report
「Nippon Denko Co., Ltd. 2021-maturity euro-denominated unsecured straight bonds 27 September 2018 €300 million 0.487 27 September 2021」
The company issued €300 million of euro-denominated unsecured straight bonds, specifying a funding measure to support investment, acquisitions and other activities. - FY2018MitigatedAnnual report
「NIDEC's undrawn borrowing facilities amounted to ¥1,043.628 billion at the end of the fiscal year.」
The company disclosed ¥1,043.628 billion in undrawn borrowing facilities, operating cash flow of ¥175.568 billion and funding measures including bond issuance, stating that these would be sufficient to meet future funding needs. - FY2018-Q3RestatedAnnual report
「Meanwhile, proceeds from bond issuance were ¥115.001 billion, and funds raised through long-term debt were ¥84.060 billion.」
While repaying short-term borrowings and redeeming bonds, the company continued to issue bonds and raise long-term debt, reaffirming its funding measures to support investment and acquisitions. - FY2018-Q2MitigatedAnnual report
「Meanwhile, proceeds from bond issuance were ¥115.001 billion, and funds raised through long-term debt were ¥83.220 billion.」
While repaying short-term borrowings and other debt, the company issued ¥115.001 billion in bonds and raised ¥83.220 billion through long-term debt, specifying funding measures to support investment and acquisitions. - FY2018-Q1MitigatedAnnual report
「The principal uses of the ¥23.5 billion in funds during the first quarter of the current consolidated cumulative period were a net decrease in short-term borrowings of ¥131.580 billion and dividend payments to owners of the parent of ¥13.347 billion. Meanwhile, funds raised comprised ¥82.583 billion in long-term debt and ¥50.001 billion from bond issuance.」
While making substantial repayments of short-term borrowings, the company raised ¥82.583 billion through long-term debt and issued ¥50.001 billion in bonds, specifying its funding measures. - FY2017MitigatedAnnual report
「NIDEC believes that these funding sources, cash flows from operating activities and undrawn committed credit facilities will be sufficient to meet future funding needs.」
While investment spending for M&A and other activities increased, the company stated that it would rely on operating cash flow, borrowings, bonds and ¥953.241 billion in undrawn committed credit facilities. - FY2016First statedAnnual report
「NIDEC depends on borrowings from financial institutions and direct funding from the financial markets to finance its capital expenditures and M&A activities.」
The company identifies as risks funding constraints arising from reduced lending limits at financial institutions, lower credit ratings and deterioration in market conditions.