Risk of higher interest expense and funding costs caused by rising interest rates
First written in FY2017. 2 of 3 entries say "Restated". Latest entry: FY2019.
The whole theme swung hardest in 2025: 11 of 65 companies on the "Worse" side.
103 other companies' latest entry also says "Restated".
- FY2019RestatedAnnual report
「Rising interest rates may increase interest payments and funding costs, adversely affecting the group's operating results and financial position.」
The company continues to disclose the risk of rising interest rates and hedging through interest-rate swaps. - FY2018RestatedAnnual report
「Rising interest rates may increase interest payments and funding costs, adversely affecting the group's operating results and financial position.」
The risk of higher interest payments and funding costs caused by rising interest rates, together with hedging through interest-rate swaps, is disclosed again. - FY2017First statedAnnual report
「The group uses derivatives, specifically interest-rate swaps, as hedging instruments for individual contracts to avoid the risk of fluctuations in interest payments and fix interest expense. However, some interest-bearing liabilities remain exposed to changes in interest rates. Accordingly, rising interest rates may increase interest payments and funding costs, adversely affecting the group's operating results and financial position.」
The company discloses the risk that some interest-bearing liabilities will be affected by rising interest rates, while also using interest-rate swaps for hedging.