Reliance on Interest-Bearing Debt and Rising Financing Costs
First written in FY2020. 7 of 21 entries say "Mitigated", first in FY2022-Q1. Latest entry: 2026-08-14.
The whole theme swung hardest in 2017: 26 of 105 companies on the "Worse" side.
- 2026-08-14MitigatedEarnings presentation
「Interest-bearing debt 1,429」
Interest-bearing debt in the first quarter was ¥1,429 million, down from ¥2,135.551 million at the end of the fiscal year ending March 2026. - FY2026MitigatedAnnual report
「As a result, interest-bearing debt totaled ¥2,135.551 million at the end of the fiscal year, a decrease of ¥4,003.355 million from the end of the previous consolidated fiscal year.」
The company repaid ¥723.744 million in long-term borrowings using proceeds from the transfer of businesses and other sources, reducing interest-bearing debt significantly from ¥6,138.906 million at the end of the previous fiscal year to ¥2,135.551 million. - FY2026-H1MitigatedAnnual report
「Fixed liabilities totaled ¥1,599.957 million, down 68.2% from the end of the previous consolidated fiscal year. The main component was lease liabilities of ¥601.900 million, down 84.3%.」
Fixed liabilities and lease liabilities declined significantly, reducing exposure to interest-bearing debt and lease liabilities from the end of the previous fiscal year. Meanwhile, short-term borrowings increased to ¥992.000 million. - FY2025WorsenedAnnual report
「During the fiscal year, the company newly raised ¥934.000 million from financial institutions to secure working capital for its massage franchise operations and to open new facilities for its facility-based nursing care services. It is also limiting cash outflows for new facility-based nursing care services by leasing the facilities. As a result, interest-bearing debt totaled ¥6,138.906 million at the end of the fiscal year.」
The company newly raised ¥934.000 million to expand its franchise and facility-based nursing care services, significantly increasing the interest-bearing debt balance. - FY2025-H1WorsenedAnnual report
「Current liabilities at the end of the interim consolidated accounting period totaled ¥1,773.361 million, up 20.2% from the end of the previous consolidated fiscal year. The main component was short-term borrowings of ¥550.000 million, up 83.3%. Fixed liabilities totaled ¥4,148.760 million, up 40.7%. The main component was lease liabilities of ¥2,998.664 million, up 78.7%.」
Short-term borrowings and lease liabilities increased, with current liabilities up 20.2% and fixed liabilities up 40.7%. Exposure to interest-bearing debt and lease liabilities is increasing. - FY2024WorsenedAnnual report
「During the fiscal year, the company newly raised ¥650.000 million from financial institutions to secure working capital for its massage franchise operations and to open new facilities for its facility-based nursing care services. It is also limiting cash outflows for new facility-based nursing care services by leasing the facilities. As a result, interest-bearing debt totaled ¥3,484.236 million at the end of the fiscal year.」
The company newly raised ¥650.000 million to fund working capital for its franchise operations and the opening of new facility-based nursing care locations. The interest-bearing debt balance increased from ¥2,091.891 million at the end of the previous fiscal year to ¥3,484.236 million. - FY2024-Q3WorsenedAnnual report
「Current liabilities at the end of the third quarter of the current consolidated fiscal year totaled ¥1,134.577 million, up 31.2% year on year. The main factors were ¥100.000 million in newly raised short-term borrowings, current maturities of long-term borrowings of ¥458.160 million, up 13.2%, and other current liabilities of ¥495.188 million, up 43.7%. Fixed liabilities totaled ¥2,473.408 million, up 27.6%. The main components were long-term borrowings of ¥1,014.910 million, down 10.3%, lease liabilities of ¥1,172.703 million, up 118.6%, and other fixed liabilities of ¥175.480 million, up 10.4%.」
The company newly raised ¥100.000 million in short-term borrowings, and current liabilities, fixed liabilities and lease liabilities increased from the end of the previous fiscal year. Exposure to interest-bearing debt and lease liabilities is increasing. - FY2024-Q2Update to borrowings and lease liability balancesAnnual report
「Current liabilities at the end of the second quarter of the current consolidated fiscal year totaled ¥1,226.152 million, up 41.8% from the end of the previous consolidated fiscal year. The main components were current maturities of long-term borrowings of ¥431.490 million, up 6.6%, and other current liabilities of ¥484.687 million, up 40.7%. Fixed liabilities totaled ¥2,115.860 million, up 9.1%. The main component was lease liabilities of ¥831.378 million, up 55.0%.」
Current and fixed liabilities increased from the end of the previous fiscal year, and the balances of current maturities of long-term borrowings and lease liabilities were updated. - FY2024-Q1Updated borrowing balanceAnnual report
「Current liabilities at the end of the first quarter of the current consolidated fiscal year totaled ¥1,052.260 million, an increase of ¥187.657 million from the end of the previous consolidated fiscal year. This was mainly due to ¥160.000 million in short-term borrowings. Fixed liabilities totaled ¥1,838.827 million, a decrease of ¥100.340 million from the end of the previous consolidated fiscal year, mainly because long-term borrowings declined by ¥102.042 million.」
Short-term borrowings of ¥160.000 million were incurred, while long-term borrowings declined by ¥102.042 million. The composition of the borrowings balance was updated. - FY2023WorsenedAnnual report
「During the fiscal year, the company newly raised ¥1,000.000 million from financial institutions to secure working capital for its massage franchise operations and to acquire a facility-based nursing care services business. As a result, interest-bearing debt totaled ¥2,091.891 million at the end of the fiscal year.」
The interest-bearing debt balance increased from ¥995.351 million at the end of the previous fiscal year to ¥2,091.891 million, mainly due to ¥1,000.000 million in new borrowings and lease liabilities related to facility-based nursing care services. - FY2023-Q2WorsenedAnnual report
「Fixed liabilities totaled ¥1,256.499 million, up 49.5% from the end of the previous fiscal year. The main component was long-term borrowings of ¥881.767 million, up 46.4%.」
Fixed liabilities and long-term borrowings increased significantly from the end of the previous consolidated fiscal year, expanding exposure to interest-bearing debt. - FY2023-Q1MitigatedAnnual report
「Fixed liabilities totaled ¥786.019 million, down 6.5% year on year. The main component was long-term borrowings of ¥542.992 million, down 9.9%.」
Fixed liabilities and long-term borrowings declined from the end of the previous fiscal year, reducing the interest-bearing debt balance. - FY2022Update to interest-bearing debt balanceAnnual report
「During the fiscal year, the company newly raised ¥200.000 million from financial institutions to secure working capital for the franchise business related to its massage franchise operations. As a result, interest-bearing debt totaled ¥995.351 million at the end of the fiscal year.」
The company newly raised ¥200.000 million as working capital for its franchise operations and reported an interest-bearing debt balance of ¥995.351 million at the fiscal year-end. - FY2022-Q3Updated borrowing balanceAnnual report
「Fixed liabilities totaled ¥908.910 million, down 9.4% year on year. The main components were long-term borrowings of ¥674.142 million, down 4.5%, and bonds of ¥10.000 million, down 90.0%.」
The balances of fixed liabilities and long-term borrowings at the end of the third quarter were updated. Meanwhile, bonds due for redemption within one year totaled ¥100.000 million under current liabilities. - FY2022-Q2WorsenedAnnual report
「The main factor behind the increase was ¥200.000 million in proceeds from long-term borrowings. Meanwhile, the main factor behind the decrease was ¥174.934 million in repayments of long-term borrowings.」
During the cumulative second quarter, the company raised ¥200.000 million through long-term borrowings, bringing the balance of long-term borrowings at the end of September to ¥731.489 million, up 3.7% year on year. Exposure to interest-bearing debt increased. - FY2022-Q1MitigatedAnnual report
「Fixed liabilities totaled ¥948.345 million, down 5.4% year on year. The main component was long-term borrowings of ¥640.807 million, down 9.2%.」
Fixed liabilities and long-term borrowings declined from the end of the previous fiscal year, and the interest-bearing debt balance was updated. - FY2021-Q3Updated borrowing balanceAnnual report
「The main components were short-term borrowings of ¥302.420 million, the current portion of long-term borrowings of ¥277.732 million and other current liabilities of ¥216.141 million. Non-current liabilities totaled ¥830.556 million. The main components were long-term borrowings of ¥542.856 million and bonds of ¥110.000 million.」
The Company updated the balances of short-term borrowings, the current portion of long-term borrowings, long-term borrowings and bonds as components of interest-bearing debt at the end of December 2020. - FY2021-Q2Update on borrowing activityAnnual report
「The main factor contributing to the increase was ¥480.000 million in proceeds from long-term borrowings. The main factor contributing to the decrease was ¥144.155 million in repayments of long-term borrowings.」
During the cumulative second quarter, the Company made ¥480.000 million in long-term borrowings, adding factual information regarding the potential dependence on long-term debt. - FY2020First statedAnnual report
「The collection period for operating receipts is longer than the payment period for operating expenses. If the scale of the business expands, the Company may need to raise funds through borrowings from financial institutions or bond issuance as working capital increases, potentially resulting in dependence on interest-bearing debt.」
The Company has identified as a standalone risk the possibility of dependence on interest-bearing debt, including borrowings and bonds, when the business expands due to the difference between collection and payment periods.