Interest-rate risk on borrowings and hedging with interest-rate swaps
First written in FY2019. 17 of 21 entries say "Worsened", first in FY2022. Latest entry: 2026-10-03.
JALCO Holdings moved to the "Worse" side of this theme in 2022, 3 years before the typical company in this theme (2025).
The whole theme swung hardest in 2025: 13 of 59 companies on the "Worse" side.
6 other companies' latest entry also says "Worsened".
- 2026-10-03Worsenedfinance.yahoo.co.jp
「However, the significant increase in interest expense widened the deficit, resulting in an ordinary loss of ¥108 million and a quarterly net loss of ¥94 million.」
It has been reported that the increase in interest expense resulted in an ordinary loss and a quarterly net loss in the first quarter of the fiscal year ending March 2027, bringing the impact of the financial cost burden to the surface. - FY2026WorsenedAnnual report
「Interest expense 1,955,563」
Interest expense increased from ¥1.575 billion in the previous fiscal year to ¥1.955 billion as borrowings increased in connection with real estate acquisitions and other matters. The burden of financial expenses, including interest on bonds payable and borrowing fees, has increased. - FY2026-H1WorsenedAnnual report
「Interest expense 789,054 842,406」
Interest expense increased from ¥789.054 million in the same period of the previous year to ¥842.406 million. The figures reflect the increased burden of financial expenses associated with higher borrowings and the refinancing of borrowings. - FY2025WorsenedAnnual report
「Interest expense 1,575,369」
Interest expense increased from ¥1.185 billion in the previous fiscal year to ¥1.575 billion, and ¥118 million in interest on bonds payable was also recorded. The burden of financial expenses increased as borrowings and bonds payable rose in connection with real estate acquisitions. - FY2025-H1WorsenedAnnual report
「Interest expense 546,475 789,054」
Interest expense increased from ¥546.475 million in the same period of the previous year to ¥789.054 million. The figures reflect the increased burden of financial expenses associated with higher borrowings and bonds payable. - FY2024WorsenedAnnual report
「Interest expense 1,185,150」
Interest expense increased from ¥1.025 billion in the previous fiscal year to ¥1.185 billion, and the increase in borrowings associated with real estate acquisitions and the greater financial cost burden continue. - FY2024-Q3WorsenedAnnual report
「Interest expense 751,495 832,056」
Interest expense for the cumulative third quarter increased from ¥751.495 million in the same period of the previous year to ¥832.056 million, and the borrowing and financial cost burdens associated with real estate investment continue to increase. - FY2024-Q2WorsenedAnnual report
「Interest expense 476,808 546,475」
Interest expense increased from ¥476.808 million in the same period of the previous year to ¥546.475 million, and the borrowing and financial cost burdens associated with real estate acquisitions continue to increase. - FY2024-Q1WorsenedAnnual report
「Interest expense 230,350 269,116」
Interest expense increased from ¥230.350 million in the same period of the previous year to ¥269.116 million, and the borrowing and financial cost burdens associated with real estate investment continue to increase. - FY2023WorsenedAnnual report
「Interest expense 590,464 1,025,432」
Interest expense increased from ¥590 million in the previous fiscal year to ¥1.025 billion. The increase in borrowings associated with real estate acquisitions and the greater financial cost burden are reflected in the figures. - FY2023-Q3WorsenedAnnual report
「Interest expense 408,561 751,495」
Interest expense for the cumulative third quarter increased from ¥408.561 million in the same period of the previous year to ¥751.495 million, quantifying the increase in borrowing and financial cost burdens associated with the expansion of real estate investment. - FY2023-Q2WorsenedAnnual report
「Interest expense 242,813 476,808」
Interest expense increased from ¥242.813 million in the same period of the previous year to ¥476.808 million. The increase in borrowings and the greater financial cost burden associated with the expansion of real estate investment are reflected in the figures. - FY2023-Q1WorsenedAnnual report
「Interest expense 123,072 230,350」
Interest expense increased from ¥123.072 million in the same period of the previous year to ¥230.350 million. The increase in borrowings and the greater financial cost burden associated with the expansion of real estate investment are reflected in the figures. - FY2022WorsenedAnnual report
「In its real estate investment business, the Group plans to fund operations using not only its own funds but also borrowings from banks, shinkin banks, credit cooperatives and other financial institutions, as well as equity financing and bonds. Accordingly, the balance of interest-bearing debt may increase further as the business expands. In addition, if interest rates rise sharply or are expected to rise, funding costs may increase while the Group may be unable to raise rents under its leases sufficiently to match the increase in market interest rates.」
In addition to the previous explanation of variable-rate borrowings and interest rate swaps, the disclosure explicitly states the possibility of an increase in interest-bearing debt as real estate investment expands, as well as the risk that rising market interest rates will increase funding costs without allowing the increase to be passed through to rents. - FY2021RestatedAnnual report
「Borrowings at variable interest rates are exposed to the risk of interest rate fluctuations, and some of this risk is hedged using derivative transactions, specifically interest rate swaps.」
The company continues to address interest rate fluctuation risk on variable-rate borrowings by hedging part of the risk with interest rate swaps. - FY2020RestatedAnnual report
「Borrowings at variable interest rates are exposed to the risk of interest rate fluctuations, and some of this risk is hedged using derivative transactions, specifically interest rate swaps.」
The company continues to address interest rate fluctuation risk on variable-rate borrowings by hedging part of the risk with interest rate swaps. - FY2019First statedAnnual report
「Borrowings at variable interest rates are exposed to the risk of interest rate fluctuations, and some of this risk is hedged using derivative transactions, specifically interest rate swaps.」
The interest rate fluctuation risk associated with variable-rate borrowings was identified as a standalone topic for the first time, and the disclosure states that part of the risk is hedged using interest rate swaps.