Interest-rate fluctuations on borrowings
First written in FY2019. 1 of 2 entries say "Restated". Latest entry: FY2020.
The whole theme swung hardest in 2025: 13 of 59 companies on the "Worse" side.
89 other companies' latest entry also says "Restated".
- FY2020RestatedAnnual report
「Variable-rate borrowings are exposed to interest-rate risk. For long-term borrowings among these, we use derivative transactions, specifically interest-rate swaps, as hedging instruments for each contract to avoid fluctuations in interest payments and fix the interest expense.」
The company continued to address the interest rate risk associated with variable-rate borrowings by using interest rate swaps for long-term borrowings. - FY2019First statedAnnual report
「Variable-rate borrowings are exposed to interest-rate risk. For long-term borrowings among these, we use derivative transactions, specifically interest-rate swaps, as hedging instruments for each contract to avoid fluctuations in interest payments and fix the interest expense.」
For the first time, the company separately identified the interest rate risk associated with variable-rate borrowings and the use of interest rate swaps to fix the interest rates on long-term borrowings as an independent topic.