Higher Borrowings and a Lower Equity Ratio
First written in FY2019-Q3. 10 of 25 entries say "Mitigated", first in FY2020-Q1. Latest entry: FY2026.
Asti moved to the "Worse" side of this theme in 2021, the same year as the typical company in this theme.
The whole theme swung hardest in 2026: 9 of 34 companies on the "Worse" side.
8 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Interest-bearing liabilities, including borrowings and lease obligations, stood at ¥12,059 million at the end of the current consolidated fiscal year. Cash and cash equivalents stood at ¥3,852 million at the same date.」
Interest-bearing liabilities decreased from ¥13,500 million at the previous year-end to ¥12,059 million, while the equity ratio rose to 55.5%. - 2026-05-14MitigatedEarnings
「The main factor was a decrease of ¥611 million in short-term borrowings, down 13.9% year on year.」
Both short-term and long-term borrowings declined, indicating progress in reducing liabilities. - FY2026-H1MitigatedAnnual report
「Liabilities decreased by ¥435 million from the end of the previous consolidated fiscal year to ¥21,030 million. The main factor was a ¥548 million decrease in notes and accounts payable.」
Liabilities decreased by ¥435 million from the end of the previous consolidated fiscal year, while the equity ratio remained at 53.3%, broadly unchanged from the previous year-end. - FY2025-H1MitigatedAnnual report
「Liabilities decreased by ¥1,174 million from the end of the previous consolidated fiscal year to ¥22,516 million. The main factors were decreases of ¥725 million in short-term borrowings and ¥597 million in long-term borrowings. The equity ratio was 51.6%, up 1.0 percentage point from the end of the previous consolidated fiscal year.」
Both short- and long-term borrowings declined, reducing liabilities by ¥1,174 million, while the equity ratio rose 1.0 percentage point. Financial leverage and the equity ratio improved. - FY2024MitigatedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, including borrowings and lease liabilities, stood at ¥15,723 million. Cash and cash equivalents stood at ¥2,779 million.」
Interest-bearing debt declined from ¥17,036 million at the end of the previous fiscal year to ¥15,724 million, while the equity ratio rose from 45.5% to 50.6%. - FY2024-Q3MitigatedAnnual report
「Liabilities decreased by ¥89 million from the end of the previous consolidated fiscal year to ¥25,163 million. The main factors were a ¥1,033 million increase in short-term borrowings and a ¥1,125 million decrease in long-term borrowings. Net assets increased by ¥2,141 million to ¥23,245 million, mainly due to increases of ¥1,596 million in retained earnings and ¥540 million in the foreign currency translation adjustment. The equity ratio was 48.0%, up 2.5 percentage points from the end of the previous consolidated fiscal year.」
Short-term borrowings increased, but total liabilities declined due to lower long-term borrowings, while higher net assets raised the equity ratio by 2.5 percentage points to 48.0%. - FY2024-Q2Higher short-term borrowings, with the equity ratio continuing to riseAnnual report
「Liabilities increased by ¥195 million from the end of the previous consolidated fiscal year to ¥25,448 million. The main factors were a ¥2,069 million increase in short-term borrowings, a ¥762 million decrease in notes and accounts payable and a ¥743 million decrease in long-term borrowings. Net assets increased by ¥2,013 million to ¥23,118 million, mainly due to increases of ¥1,226 million in retained earnings and ¥735 million in the foreign currency translation adjustment. The equity ratio was 47.5%, up 2.0 percentage points from the end of the previous consolidated fiscal year.」
Short-term borrowings increased by ¥2,069 million and long-term borrowings decreased by ¥743 million, while higher net assets raised the equity ratio by 2.0 percentage points to 47.5%. - FY2024-Q1Higher short-term borrowings, but higher equity ratioAnnual report
「Liabilities increased by ¥987 million from the end of the previous consolidated fiscal year to ¥26,240 million. The main factor was a ¥1,465 million increase in short-term borrowings. Net assets increased by ¥1,399 million to ¥22,504 million, mainly due to increases of ¥711 million in retained earnings and ¥606 million in the foreign currency translation adjustment. As a result, the equity ratio was 46.1%, up 0.6 percentage point from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥987 million due to higher short-term borrowings, while the equity ratio rose from 45.5% to 46.1% due to higher net assets. - FY2023-Q3Higher long-term borrowings, but higher equity ratioAnnual report
「Liabilities increased by ¥1,593 million from the end of the previous consolidated fiscal year to ¥25,069 million. The main factors were a ¥449 million increase in notes and accounts payable, a ¥1,759 million decrease in short-term borrowings and a ¥2,230 million increase in long-term borrowings. Net assets increased by ¥1,571 million to ¥20,847 million, mainly due to a ¥980 million increase in retained earnings. The equity ratio was 45.4%, up 0.4 percentage point from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥1,593 million due in part to higher long-term borrowings, while the equity ratio rose from 45.0% to 45.4% due to higher net assets. - FY2023-Q2Higher liabilities, with the equity ratio continuing to riseAnnual report
「Liabilities increased by ¥801 million from the end of the previous consolidated fiscal year to ¥24,277 million. The main factor was a ¥731 million increase in notes and accounts payable. Net assets increased by ¥2,115 million to ¥21,392 million, mainly due to increases of ¥984 million in retained earnings and ¥1,140 million in the foreign currency translation adjustment. The equity ratio was 46.8%, up 1.8 percentage points from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥801 million, while net assets increased by ¥2,115 million, raising the equity ratio from 45.0% to 46.8%, up 1.8 percentage points. - FY2023-Q1Higher liabilities, but higher equity ratioAnnual report
「Liabilities increased by ¥582 million from the end of the previous consolidated fiscal year to ¥24,057 million. The main factor was a ¥316 million increase in provision for bonuses. Net assets increased by ¥1,130 million to ¥20,407 million, mainly due to increases of ¥397 million in retained earnings and ¥730 million in the foreign currency translation adjustment. As a result, the equity ratio was 45.8%, up 0.8 percentage point from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥582 million, while net assets increased by ¥1,130 million, raising the equity ratio from 45.0% to 45.8%, up 0.8 percentage point. The previous downward trend in the equity ratio has changed. - FY2022WorsenedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, including borrowings and lease liabilities, stood at ¥15,997 million. Cash and cash equivalents stood at ¥1,964 million.」
Interest-bearing debt increased from ¥10,001 million at the end of the previous fiscal year to ¥15,997 million, while the equity ratio declined from 51.6% to 45.0%. - FY2022-Q3WorsenedAnnual report
「Liabilities increased by ¥7,033 million from the end of the previous consolidated fiscal year to ¥23,828 million. The main factors were increases of ¥873 million in notes and accounts payable, ¥4,155 million in short-term borrowings and ¥1,821 million in long-term borrowings. Net assets increased by ¥118 million to ¥18,056 million, mainly due to a ¥496 million increase in the foreign currency translation adjustment and a ¥349 million decrease in retained earnings. The equity ratio was 43.1%, down 8.5 percentage points from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥7,033 million due in part to higher short- and long-term borrowings, while the equity ratio declined 8.5 percentage points to 43.1%. - FY2022-Q2WorsenedAnnual report
「Liabilities increased by ¥1,745 million from the end of the previous consolidated fiscal year to ¥18,539 million. The main factors were a ¥2,116 million increase in long-term borrowings and a ¥606 million decrease in short-term borrowings. Net assets increased by ¥292 million to ¥18,231 million.」
Liabilities increased by ¥1,745 million due to higher long-term borrowings, while the equity ratio declined 2.1 percentage points from the end of the previous consolidated fiscal year to 49.5%. - FY2022-Q1Lower short-term borrowings, higher long-term borrowings, and a slight decline in the equity ratioAnnual report
「Liabilities increased by ¥323 million from the end of the previous consolidated fiscal year to ¥17,117 million. The main factors were a ¥1,300 million decrease in short-term borrowings and a ¥1,525 million increase in long-term borrowings. Net assets increased by ¥159 million to ¥18,098 million, mainly due to a ¥173 million increase in the foreign currency translation adjustment. The equity ratio was 51.4%, down 0.2 percentage point from the end of the previous consolidated fiscal year.」
Short-term borrowings declined while long-term borrowings increased, resulting in a ¥323 million increase in total liabilities. The equity ratio edged down from 51.6% to 51.4%. - FY2021WorsenedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, including borrowings and lease liabilities, stood at ¥10,000 million. Cash and cash equivalents stood at ¥2,194 million.」
Interest-bearing debt increased from ¥8,223 million at the end of the previous fiscal year to ¥10,000 million. The equity ratio also declined from 53.7% to 51.6%, increasing financial leverage. - FY2021-Q3WorsenedAnnual report
「Liabilities increased by ¥2,519 million from the end of the previous consolidated fiscal year to ¥16,502 million. The main factors were increases of ¥970 million in notes and accounts payable and ¥2,294 million in short-term borrowings, partly offset by a ¥690 million decrease in long-term borrowings. Net assets increased by ¥18 million to ¥16,288 million. The equity ratio was 49.6%, down 4.1 percentage points from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥2,519 million due in part to higher short-term borrowings, while the equity ratio declined 4.1 percentage points to 49.6%. - FY2021-Q2WorsenedAnnual report
「Liabilities increased by ¥344 million from the end of the previous consolidated fiscal year to ¥14,327 million. The main factors were a ¥770 million increase in short-term borrowings and a ¥459 million decrease in long-term borrowings. Net assets decreased by ¥556 million to ¥15,712 million, mainly due to a ¥523 million decrease in retained earnings. The equity ratio was 52.3%, down 1.4 percentage points from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥344 million due to higher short-term borrowings, while net assets and the equity ratio declined due in part to lower retained earnings. - FY2021-Q1Higher short-term borrowings, but lower total liabilitiesAnnual report
「Liabilities decreased by ¥524 million from the end of the previous consolidated fiscal year to ¥13,458 million. The main factors were a ¥970 million decrease in notes and accounts payable, a ¥722 million increase in short-term borrowings and a ¥200 million decrease in income taxes payable. As a result, the equity ratio was 53.6%, down 0.1 percentage point from the end of the previous consolidated fiscal year.」
Short-term borrowings increased by ¥722 million, while total liabilities decreased by ¥524 million due to lower accounts payable and other items. The equity ratio edged down from 53.7% to 53.6%, indicating mixed movements in financial indicators. - FY2020MitigatedAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, including borrowings and lease liabilities, stood at ¥8,223 million. Cash and cash equivalents stood at ¥2,026 million.」
Interest-bearing debt declined from ¥8,712 million at the end of the previous fiscal year to ¥8,223 million, while cash and cash equivalents stood at ¥2,026 million. - FY2020-Q3MitigatedAnnual report
「Liabilities decreased by ¥732 million from the end of the previous consolidated fiscal year to ¥14,608 million. The main factors were decreases of ¥1,541 million in short-term borrowings and ¥655 million in notes and accounts payable, partly offset by a ¥1,678 million increase in long-term borrowings. The equity ratio was 53.5%, up 1.9 percentage points from the end of the previous consolidated fiscal year.」
Although long-term borrowings increased, total liabilities declined by ¥732 million due to decreases in short-term borrowings and other items, while the equity ratio rose 1.9 percentage points to 53.5%. - FY2020-Q2MitigatedAnnual report
「Liabilities decreased by ¥647 million from the end of the previous consolidated fiscal year to ¥14,693 million. The main factor was a ¥698 million decrease in notes and accounts payable. The equity ratio was 53.0%, up 1.4 percentage points from the end of the previous consolidated fiscal year.」
Liabilities decreased by ¥647 million from the end of the previous consolidated fiscal year, while the equity ratio also rose 1.4 percentage points, indicating continued improvement in financial condition. - FY2020-Q1MitigatedAnnual report
「Liabilities decreased by ¥952 million from the end of the previous consolidated fiscal year to ¥14,388 million. The main factors were decreases of ¥941 million in notes and accounts payable and ¥102 million in borrowings.」
Liabilities and borrowings declined from the end of the previous consolidated fiscal year, while the equity ratio rose 1.7 percentage points to 53.3%. - FY2019Higher borrowings, but higher equity ratioAnnual report
「At the end of the current consolidated fiscal year, interest-bearing debt, including borrowings and lease liabilities, stood at ¥8,712 million. Cash and cash equivalents stood at ¥1,744 million.」
Interest-bearing debt increased to ¥8,712 million from the end of the previous fiscal year, while the equity ratio rose from 50.0% to 51.6% among the key indicators. - FY2019-Q3First statedAnnual report
「Liabilities increased by ¥1,127 million from the end of the previous consolidated fiscal year to ¥16,489 million. The main factors were increases in short-term borrowings of ¥1,197 million and long-term borrowings of ¥879 million, as well as a ¥639 million decrease in accounts payable included in other current liabilities. The equity ratio was 49.0%, down 1.0 percentage point from the end of the previous consolidated fiscal year.」
Liabilities increased due to higher short-term and long-term borrowings, while the equity ratio declined 1.0 percentage point from the end of the previous consolidated fiscal year.