Building a Stable Financial Foundation
First written in FY2016. 20 of 35 entries say "Advanced", first in FY2017-Q2. Latest entry: 2026-07-29.
20 other companies' latest entry also says "Worsened".
- 2026-07-29WorsenedEarnings presentation
「Interest-bearing debt 489.2 591.4 +102.2 Free cash flow 253.2 -241.2 △494.3」
Free cash flow was an outflow in the first quarter, and interest-bearing debt increased from the end of the previous fiscal year. The D/E ratio also rose from 0.22x to 0.26x, indicating a temporary deterioration in the financial base from the previous fiscal year-end. - FY2026AdvancedAnnual report
「Free cash flow was an inflow of ¥472.1 billion. … Interest-bearing debt decreased by ¥177.1 billion from the end of the previous fiscal year to ¥489.2 billion, and the debt-to-equity ratio was 0.22x, an improvement of 0.12 points from the end of the previous fiscal year.」
Full-year free cash flow was an inflow of ¥472.1 billion, and interest-bearing debt and the D/E ratio improved. Net interest-bearing debt was negative ¥169.8 billion, meaning that cash exceeded interest-bearing debt. - FY2026-H1AdvancedAnnual report
「As a result, free cash flow, calculated as the combined cash flow from operating activities and cash flow from investing activities, was an inflow of ¥174.2 billion, an increase of ¥168.4 billion from the same period of the previous year. … Interest-bearing debt decreased by ¥140.9 billion from the end of the previous fiscal year to ¥525.5 billion, and the debt-to-equity ratio was 0.27x, an improvement of 0.07 points from the end of the previous fiscal year.」
Free cash flow increased to an inflow of ¥174.2 billion, interest-bearing debt decreased by ¥140.9 billion, and the debt-to-equity ratio improved to 0.27x. Unlike the simultaneous increase in free cash flow and debt seen through the previous fiscal year, the improvement in the current interim period was accompanied by a decrease in debt. - FY2025Free cash flow increased while debt also increasedAnnual report
「Free cash flow was an inflow of ¥213.2 billion. … Interest-bearing debt increased by ¥117.7 billion from the end of the previous fiscal year to ¥666.4 billion, and the debt-to-equity ratio was 0.34x, a deterioration of 0.05 points from the end of the previous fiscal year.」
Free cash flow increased to an inflow of ¥213.2 billion, while interest-bearing debt and the D/E ratio deteriorated. - FY2025-H1WorsenedAnnual report
「Interest-bearing debt increased by ¥98.8 billion from the end of the previous fiscal year to ¥647.4 billion, and the debt-to-equity ratio was 0.34x, a deterioration of 0.05 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥91.3 billion to ¥163.4 billion, and the net debt-to-equity ratio was 0.09x, a deterioration of 0.05 points from the end of the previous fiscal year.」
Free cash flow was an inflow of ¥5.8 billion, while interest-bearing debt, net interest-bearing debt, and both the total and net D/E ratios had all deteriorated from the end of the previous fiscal year. - FY2024-Q3WorsenedAnnual report
「Interest-bearing debt increased by ¥59.8 billion from the end of the previous fiscal year to ¥668.3 billion, and the debt-to-equity ratio was 0.39x, a deterioration of 0.02 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥96.3 billion to ¥285.3 billion, and the net debt-to-equity ratio was 0.17x, a deterioration of 0.05 points from the end of the previous fiscal year.」
At the end of the third quarter, total interest-bearing debt, net interest-bearing debt, and both the total and net D/E ratios had all deteriorated from the end of the previous fiscal year. Free cash flow was an outflow of ¥19.0 billion, and deterioration in financial strength continued. - FY2024-Q2WorsenedAnnual report
「Free cash flow was an outflow of ¥8.2 billion, an improvement of ¥28.1 billion in outflows from the same period of the previous year. … Interest-bearing debt increased by ¥33.3 billion from the end of the previous fiscal year to ¥641.8 billion, and the debt-to-equity ratio was 0.38x, a deterioration of 0.01 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥49.7 billion to ¥238.7 billion, and the net debt-to-equity ratio was 0.14x, a deterioration of 0.02 points from the end of the previous fiscal year.」
Free cash flow was an outflow, and interest-bearing debt, net interest-bearing debt, and both the total and net D/E ratios had all deteriorated from the end of the previous fiscal year. - FY2024-Q1AdvancedAnnual report
「As a result, free cash flow, calculated as the combined cash flow from operating activities and cash flow from investing activities, was an inflow of ¥73.3 billion, up ¥24.1 billion from the same period of the previous year.」
First-quarter free cash flow was an inflow of ¥73.3 billion, up ¥24.1 billion year on year. - FY2023AdvancedAnnual report
「Free cash flow for the fiscal year was an inflow of ¥102.5 billion. Interest-bearing debt at the end of the fiscal year increased by ¥11.1 billion from the end of the previous fiscal year to ¥608.5 billion, and the debt-to-equity ratio was 0.37x, an improvement of 0.02 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥22.4 billion to ¥189.0 billion, and the net debt-to-equity ratio was 0.12x, a deterioration of 0.01 points from the end of the previous fiscal year.」
Free cash flow was an inflow of ¥102.5 billion, and the total D/E ratio improved. Meanwhile, net interest-bearing debt and the net D/E ratio deteriorated, so improvements and deterioration occurred simultaneously. - FY2023-Q3WorsenedAnnual report
「Interest-bearing debt increased by ¥167.3 billion from the end of the previous fiscal year to ¥764.7 billion, and the debt-to-equity ratio was 0.50x, a deterioration of 0.11 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥192.5 billion to ¥359.1 billion, and the net debt-to-equity ratio was 0.24x, a deterioration of 0.13 points from the end of the previous fiscal year.」
At the end of the third quarter, interest-bearing debt, net interest-bearing debt, and both the total and net debt-to-equity ratios had all deteriorated from the end of the previous fiscal year. - FY2023-Q2WorsenedAnnual report
「Interest-bearing debt increased by ¥72.0 billion from the end of the previous fiscal year to ¥669.4 billion, and the debt-to-equity ratio was 0.43x, a deterioration of 0.04 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥66.1 billion to ¥232.7 billion, and the net debt-to-equity ratio was 0.15x, a deterioration of 0.04 points from the end of the previous fiscal year.」
At the end of the second quarter, total interest-bearing debt, net interest-bearing debt, and both the total and net D/E ratios had all deteriorated from the end of the previous fiscal year. - FY2023-Q1AdvancedAnnual report
「Interest-bearing debt decreased by ¥32.8 billion from the end of the previous fiscal year to ¥564.6 billion, and the debt-to-equity ratio was 0.37x, an improvement of 0.02 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, decreased by ¥27.9 billion to ¥138.7 billion, and the net debt-to-equity ratio was 0.09x, an improvement of 0.02 points from the end of the previous fiscal year.」
At the end of the first quarter, interest-bearing debt, net interest-bearing debt, and both the total and net debt-to-equity ratios had all improved from the end of the previous fiscal year. - FY2022AdvancedAnnual report
「Free cash flow for the fiscal year was an inflow of ¥84.1 billion. Interest-bearing debt at the end of the fiscal year decreased by ¥105.5 billion from the end of the previous fiscal year to ¥597.4 billion, and the debt-to-equity ratio was 0.39x, an improvement of 0.15 points from the end of the previous fiscal year.」
Free cash flow was an inflow of ¥84.1 billion, and interest-bearing debt and the D/E ratio improved from the end of the previous fiscal year. Net interest-bearing debt also decreased by ¥12.9 billion, and the net D/E ratio was 0.11x. - FY2022-Q3WorsenedAnnual report
「Interest-bearing debt decreased by ¥14.0 billion from the end of the previous fiscal year to ¥688.9 billion, and the debt-to-equity ratio was 0.52x, an improvement of 0.02 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥95.5 billion to ¥275.0 billion, and the net debt-to-equity ratio was 0.21x, a deterioration of 0.07 points from the end of the previous fiscal year.」
Total interest-bearing debt and the total D/E ratio improved, while net interest-bearing debt increased by ¥95.5 billion and the net D/E ratio deteriorated to 0.21x. Free cash flow was also an outflow of ¥27.4 billion, so improvements and deterioration in financial strength occurred simultaneously. - FY2022-Q2WorsenedAnnual report
「Interest-bearing debt decreased by ¥1.3 billion from the end of the previous fiscal year to ¥701.6 billion, and the debt-to-equity ratio was 0.53x, an improvement of 0.01 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥38.6 billion to ¥218.2 billion, and the net debt-to-equity ratio was 0.17x, a deterioration of 0.03 points from the end of the previous fiscal year.」
Total interest-bearing debt and the total D/E ratio improved slightly, while net interest-bearing debt increased by ¥38.6 billion and the net D/E ratio deteriorated to 0.17x. Improvements and deterioration in financial metrics occurred simultaneously. - FY2022-Q1AdvancedAnnual report
「As a result, free cash flow, calculated as the combined cash flow from operating activities and cash flow from investing activities, was an inflow of ¥65.0 billion, a deterioration of ¥19.2 billion from the same period of the previous year. … Interest-bearing debt increased by ¥4.0 billion from the end of the previous fiscal year to ¥706.9 billion, and the debt-to-equity ratio was 0.54x, broadly unchanged from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, decreased by ¥35.6 billion to ¥143.9 billion, and the net debt-to-equity ratio was 0.11x, an improvement of 0.03 points from the end of the previous fiscal year.」
First-quarter free cash flow was an inflow of ¥65.0 billion, net interest-bearing debt decreased by ¥35.6 billion, and the net D/E ratio improved to 0.11x. Total interest-bearing debt increased by ¥4.0 billion, while the total D/E ratio was 0.54x, broadly unchanged from the end of the previous fiscal year. - FY2021-Q3WorsenedAnnual report
「As a result, free cash flow, calculated as the combined cash flow from operating activities and cash flow from investing activities, was an outflow of ¥108.2 billion, a deterioration of ¥157.4 billion from the same period of the previous year. … Interest-bearing debt increased by ¥158.2 billion from the end of the previous fiscal year to ¥833.6 billion, and the debt-to-equity ratio was 0.79x, a deterioration of 0.05 points from the end of the previous fiscal year.」
Free cash flow was an outflow of ¥108.2 billion, and interest-bearing debt and the total debt-to-equity ratio also deteriorated from the end of the previous fiscal year. - FY2021-Q1AdvancedAnnual report
「Interest-bearing debt decreased by ¥12.3 billion from the end of the previous fiscal year to ¥663.1 billion, and the debt-to-equity ratio was 0.73x, an improvement of 0.01 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, decreased by ¥58.6 billion to ¥257.5 billion, and the net debt-to-equity ratio was 0.28x, an improvement of 0.07 points from the end of the previous fiscal year.」
Interest-bearing debt, net interest-bearing debt, and both the total and net D/E ratios improved from the end of the previous fiscal year. Free cash flow was also an inflow of ¥84.2 billion. - FY2020-Q3AdvancedAnnual report
「After reflecting the impact of applying IFRS 16, interest-bearing debt and net interest-bearing debt decreased by ¥33.2 billion and ¥8.0 billion, respectively, from the beginning of the fiscal year. The debt-to-equity ratio and net debt-to-equity ratio improved by 0.07 points and 0.02 points, respectively, from the beginning of the fiscal year.」
Compared with the beginning of the fiscal year, adjusted for the impact of IFRS 16, interest-bearing debt, net interest-bearing debt, and both the total and net D/E ratios improved. - FY2020-Q2AdvancedAnnual report
「Free cash flow was an inflow of ¥55.6 billion, up ¥72.8 billion from the same period of the previous year. … After reflecting the impact of applying IFRS 16, interest-bearing debt and net interest-bearing debt decreased by ¥45.7 billion and ¥37.4 billion, respectively, from the beginning of the fiscal year.」
Free cash flow improved to an inflow of ¥55.6 billion. Compared with the beginning of the fiscal year, adjusted for the impact of applying IFRS 16, interest-bearing debt decreased by ¥45.7 billion and net interest-bearing debt by ¥37.4 billion, and the D/E ratio also improved. Compared with the end of the previous fiscal year, however, total and net interest-bearing debt and the D/E ratios deteriorated due to the impact of lease liabilities and other factors. - FY2020-Q1WorsenedAnnual report
「Interest-bearing debt increased by ¥143.4 billion from the end of the previous fiscal year to ¥695.9 billion, and the debt-to-equity ratio was 0.83x, a deterioration of 0.19 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥107.9 billion to ¥382.1 billion, and the net debt-to-equity ratio was 0.45x, a deterioration of 0.13 points from the end of the previous fiscal year.」
Free cash flow was an inflow of ¥83.1 billion, but interest-bearing debt, net interest-bearing debt, and both the total and net D/E ratios had deteriorated from the end of the previous fiscal year. - FY2019WorsenedAnnual report
「Free cash flow for the fiscal year was an outflow of ¥12.4 billion. … Interest-bearing debt increased by ¥31.8 billion from the end of the previous fiscal year to ¥552.5 billion, and the debt-to-equity ratio was 0.64x, a deterioration of 0.05 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥99.5 billion to ¥274.2 billion, and the net debt-to-equity ratio was 0.32x, a deterioration of 0.12 points from the end of the previous fiscal year.」
Full-year free cash flow turned negative, while interest-bearing debt and both the total and net D/E ratios deteriorated. - FY2019-Q3WorsenedAnnual report
「Interest-bearing debt increased by ¥11.7 billion from the end of the previous fiscal year to ¥532.4 billion, and the debt-to-equity ratio was 0.62x, a deterioration of 0.03 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥89.7 billion to ¥264.4 billion, and the net debt-to-equity ratio was 0.31x, a deterioration of 0.11 points from the end of the previous fiscal year.」
At the end of the third quarter, total interest-bearing debt, net interest-bearing debt, and both the total and net debt-to-equity ratios had deteriorated from the end of the previous fiscal year. - FY2019-Q2WorsenedAnnual report
「Interest-bearing debt increased by ¥62.9 billion from the end of the previous fiscal year to ¥583.7 billion, and the debt-to-equity ratio was 0.66x, a deterioration of 0.07 points from the end of the previous fiscal year. Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, increased by ¥38.2 billion to ¥213.0 billion, and the net debt-to-equity ratio was 0.24x, a deterioration of 0.04 points from the end of the previous fiscal year.」
At the end of the second quarter, interest-bearing debt and net interest-bearing debt had increased from the end of the previous fiscal year, and both the total and net debt-to-equity ratios had deteriorated. - FY2019-Q1AdvancedAnnual report
「As a result, free cash flow, calculated as the combined cash flow from operating activities and cash flow from investing activities, was an inflow of ¥35.8 billion, down ¥78.6 billion year on year. … As a result, cash and cash equivalents stood at ¥369.7 billion, up ¥23.7 billion from the end of the previous fiscal year. … Interest-bearing debt on a net basis, calculated by deducting cash and cash equivalents from interest-bearing debt, was ¥159.1 billion, down ¥15.6 billion from the end of the previous fiscal year, and the net debt-to-equity ratio was 0.18x, an improvement of 0.02 points from the end of the previous fiscal year.」
Although free cash flow decreased year on year, cash and cash equivalents increased, net interest-bearing debt decreased by ¥15.6 billion, and the net D/E ratio improved to 0.18x. Total interest-bearing debt and the total D/E ratio increased, so the improvement was limited to a net basis. - FY2018AdvancedAnnual report
「Free cash flow for the current consolidated accounting year, the total of cash flow from operating activities and cash flow from investing activities, amounted to ¥115.8 billion. Net interest-bearing debt, calculated by deducting cash and cash equivalents from interest-bearing debt, was ¥174.7 billion, down ¥52.3 billion from the end of the previous fiscal year, and the net debt-to-equity ratio was 0.20x, an improvement of 0.07 points from the end of the previous fiscal year.」
Free cash flow was ¥115.8 billion, net interest-bearing debt decreased by ¥5.23 billion, and the net D/E ratio improved to 0.20x. Meanwhile, total interest-bearing debt and the total D/E ratio increased, indicating that the improvement in financial condition was limited to a net basis. - FY2018-Q3AdvancedAnnual report
「As a result, free cash flow, the combined total of cash flow from operating activities and cash flow from investing activities, amounted to ¥38.2 billion, an improvement of ¥31.4 billion from the same period of the previous year. Cash flow from financing activities amounted to ¥38.6 billion, mainly reflecting proceeds from the issuance of bonds. As a result, cash and cash equivalents amounted to ¥318.8 billion, an increase of ¥78.8 billion from the end of the previous fiscal year.」
Free cash flow for the 3rd quarter cumulative period amounted to ¥38.2 billion, an improvement of ¥31.4 billion year on year. Including proceeds from financing activities such as bond issuance, cash and cash equivalents increased by ¥78.8 billion from the end of the previous fiscal year. - FY2018-Q2AdvancedAnnual report
「As a result, free cash flow, the combined total of cash flow from operating activities and cash flow from investing activities, amounted to ¥75.3 billion, an improvement of ¥28.3 billion from the same period of the previous year. Cash flow from financing activities amounted to ¥55.9 billion, mainly reflecting proceeds from the issuance of bonds. As a result, cash and cash equivalents amounted to ¥372.5 billion, an increase of ¥132.5 billion from the end of the previous fiscal year.」
Free cash flow for the 2nd quarter cumulative period amounted to ¥75.3 billion, an improvement of ¥28.3 billion year on year. Cash flow from financing activities also amounted to ¥55.9 billion, mainly due to bond issuance, and cash and cash equivalents increased by ¥132.5 billion from the end of the previous fiscal year. - FY2018-Q1AdvancedAnnual report
「As a result, free cash flow, the combined total of cash flow from operating activities and cash flow from investing activities, amounted to ¥114.5 billion, an improvement of ¥50.8 billion from the same period of the previous year. Cash and cash equivalents amounted to ¥414.9 billion, an increase of ¥174.9 billion from the end of the previous fiscal year.」
Free cash flow for the 1st quarter amounted to ¥114.5 billion, an improvement of ¥50.8 billion year on year. Cash and cash equivalents also increased by ¥174.9 billion from the end of the previous fiscal year. - FY2017AdvancedAnnual report
「Free cash flow amounted to ¥99.0 billion. The balance of interest-bearing debt at the end of the current consolidated accounting year was ¥466.9 billion, down ¥12.6 billion from the end of the previous consolidated accounting year, and the debt-to-equity ratio was 0.55x, an improvement of 0.07 points from the end of the previous consolidated accounting year.」
The company disclosed full-year free cash flow, the debt balance and the D/E ratio, presenting the improvement in its financial base through specific figures. - FY2017-Q3AdvancedAnnual report
「As a result, free cash flow, the combined total of cash flow from operating activities and cash flow from investing activities, amounted to ¥6.8 billion, an improvement of ¥55.8 billion from the same period of the previous year. As a result, cash and cash equivalents amounted to ¥218.7 billion, an increase of ¥26.4 billion from the end of the previous fiscal year.」
Free cash flow for the 3rd quarter cumulative period amounted to ¥6.8 billion, an improvement of ¥55.8 billion year on year. Cash and cash equivalents also increased by ¥26.4 billion from the end of the previous fiscal year. - FY2017-Q2AdvancedAnnual report
「As a result, free cash flow, the combined total of cash flow from operating activities and cash flow from investing activities, amounted to ¥47.0 billion, an improvement of ¥37.6 billion from the same period of the previous year. As a result, cash and cash equivalents amounted to ¥270.9 billion, an increase of ¥78.6 billion from the end of the previous fiscal year.」
Free cash flow amounted to ¥47.0 billion, an improvement of ¥37.6 billion year on year. Cash and cash equivalents also increased by ¥78.6 billion from the end of the previous fiscal year. - FY2016First statedAnnual report
「Under the policy of “Building a stable financial base,” we strengthened the balance sheet by securing net income and improving the debt-to-equity ratio through measures including reducing interest-bearing debt.」
The company’s policy is to strengthen its financial position by securing profits and reducing interest-bearing debt.