Reliance on Borrowings and Changes in Interest Rates and Financial Institution Policies
First written in FY2020. 16 of 26 entries say "Mitigated", first in FY2021-Q1. Latest entry: 2026-08-14.
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「The Group finances capital expenditures for the expansion of new businesses through borrowings from financial institutions. The ratio of total interest-bearing debt to total assets remained high, at 30.1% for the fiscal year ended March 2025 and 39.5% for the fiscal year ending March 2026.」
The interest-bearing debt ratio rose from 30.1% to 39.5%. The Group also entered into borrowing agreements totaling ¥16,765 million, including funding for the acquisition of WITH Holdings, increasing exposure to reliance on borrowings and changes in interest rates and financial institution policies. - FY2026-H1MitigatedAnnual report
「This was due to decreases in short-term borrowings (¥2,057 million), accrued expenses (¥466 million), and income taxes payable (¥398 million), among other factors.」
Short-term borrowings decreased by ¥2,057 million from the end of the previous consolidated fiscal year, reducing exposure to reliance on borrowings and changes in interest rates and financial institution policies. - FY2025WorsenedAnnual report
「The ratio of total interest-bearing debt to total assets remained high, at 28.3% for the fiscal year ended March 2024 and 30.1% for the fiscal year ended March 2025.」
The interest-bearing debt ratio rose from 28.3% to 30.1%, and short-term borrowings also increased by ¥545 million, increasing exposure to reliance on borrowings and changes in interest rates and financial institution policies. - FY2025-H1MitigatedAnnual report
「This was due to decreases in short-term borrowings (¥1,203 million) and accrued expenses (¥128 million), among other factors.」
Short-term borrowings decreased by ¥1,203 million, reducing exposure to reliance on borrowings and changes in interest rates and financial institution policies from the end of the previous consolidated fiscal year. - FY2024RestatedAnnual report
「The ratio of total interest-bearing debt to total assets remained high, at 28.3% for both the fiscal years ended March 2023 and March 2024.」
The interest-bearing debt ratio was 28.3%, unchanged from the previous fiscal year, and funding risks arising from changes in borrowing costs and financial institution policies continue to be recognized. - FY2024-Q3MitigatedAnnual report
「This was due to decreases in short-term borrowings (¥370 million), current maturities of long-term borrowings (¥224 million), and income taxes payable (¥137 million), among other factors, despite an increase in accrued expenses (¥67 million).」
Short-term borrowings decreased by ¥370 million, current maturities of long-term borrowings by ¥224 million, and long-term borrowings by ¥89 million, further reducing exposure to reliance on borrowings and changes in interest rates and financial institution policies. - FY2024-Q2MitigatedAnnual report
「This was due to decreases in short-term borrowings (¥855 million), current maturities of long-term borrowings (¥136 million), and accounts payable (¥103 million), among other factors.」
Short-term borrowings and current maturities of long-term borrowings decreased, further reducing exposure to reliance on borrowings and changes in interest rates and financial institution policies. - FY2024-Q1MitigatedAnnual report
「This was due to decreases in short-term borrowings (¥1,320 million), accounts payable (¥110 million), income taxes payable (¥139 million), and the provision for bonuses (¥122 million), among other factors.」
Short-term borrowings decreased by ¥1,320 million from the end of the previous consolidated fiscal year, further reducing exposure associated with reliance on borrowings. - FY2023MitigatedAnnual report
「The ratio of total interest-bearing debt to total assets remained high, at 34.9% for the fiscal year ended March 2022 and 28.3% for the fiscal year ended March 2023.」
The interest-bearing debt ratio declined from 34.9% to 28.3%, reducing exposure to funding risks associated with reliance on borrowings. - FY2023-Q3MitigatedAnnual report
「This was due to a decrease in short-term borrowings of ¥771 million and the provision for bonuses of ¥116 million, among other factors, despite an increase in accrued expenses of ¥65 million. This was due to decreases in long-term borrowings of ¥352 million and long-term advances received of ¥24 million, among other factors, despite an increase in deferred tax liabilities of ¥56 million.」
Short-term borrowings decreased by ¥771 million and long-term borrowings by ¥352 million, further reducing exposure associated with reliance on borrowings. - FY2023-Q2MitigatedAnnual report
「This was due to decreases in short-term borrowings of ¥1,191 million, income taxes payable of ¥58 million, accounts payable of ¥43 million and current-portion long-term borrowings of ¥34 million, among other factors, despite an increase in the provision for bonuses of ¥11 million.」
Short-term borrowings decreased by ¥1,191 million and current-portion long-term borrowings by ¥34 million, reducing exposure associated with reliance on borrowings. - FY2023-Q1MitigatedAnnual report
「This was due to decreases in short-term borrowings of ¥1,514 million and the provision for bonuses of ¥118 million, among other factors.」
Short-term borrowings decreased by ¥1,514 million from the end of the previous fiscal year, further reducing exposure associated with reliance on borrowings. - FY2022MitigatedAnnual report
「The ratio of total interest-bearing debt to total assets remained high, at 38.6% for the fiscal year ended March 2021 and 34.9% for the fiscal year ended March 2022.」
The interest-bearing debt ratio decreased from 38.6% to 34.9%. Funding risks arising from changes in borrowing rates and financial institutions' policies remain, but exposure associated with reliance on borrowings has declined from the previous fiscal year. - FY2022-Q3MitigatedAnnual report
「This was due to a decrease in short-term borrowings of ¥1,073 million and the provision for bonuses of ¥96 million, among other factors, despite an increase in current-portion long-term borrowings of ¥38 million.」
Short-term borrowings decreased by ¥1,073 million from the end of the previous fiscal year, while long-term borrowings also decreased by ¥139 million. Exposure associated with reliance on borrowings has further declined. - FY2022-Q2MitigatedAnnual report
「This was due to a decrease in short-term borrowings of ¥2,215 million, among other factors, despite an increase in accounts payable of ¥102 million.」
Short-term borrowings decreased by ¥2,215 million from the end of the previous fiscal year, further reducing exposure associated with reliance on borrowings. - FY2022-Q1MitigatedAnnual report
「This was due to decreases in short-term borrowings of ¥2,066 million and the provision for bonuses of ¥104 million, among other factors.」
Short-term borrowings decreased by ¥2,066 million from the end of the previous fiscal year, while long-term borrowings also decreased by ¥150 million. Exposure associated with reliance on borrowings declined in the first quarter as borrowings outstanding decreased. - FY2021WorsenedAnnual report
「The ratio of total interest-bearing debt to total assets remained high, at 35.2% for the fiscal year ended March 2020 and 38.6% for the fiscal year ended March 2021.」
The interest-bearing debt ratio increased from 35.2% to 38.6%, increasing exposure to funding risks arising from changes in borrowing rates and financial institutions' policies. - FY2021-Q3MitigatedAnnual report
「This was due to decreases in short-term borrowings of ¥914 million and the provision for bonuses of ¥51 million, among other factors, despite an increase in current-portion long-term borrowings of ¥40 million.」
Short-term borrowings decreased by ¥914 million, while current-portion long-term borrowings increased by ¥40 million and long-term borrowings by ¥219 million. Total borrowings decreased by approximately ¥654 million from the end of the previous fiscal year. - FY2021-Q2MitigatedAnnual report
「This was due to decreases in short-term borrowings of ¥1,547 million and current-portion long-term borrowings of ¥116 million, among other factors, despite an increase in the provision for bonuses of ¥91 million.」
Short-term borrowings decreased by ¥1,547 million and current-portion long-term borrowings by ¥116 million year on year, while long-term borrowings also decreased by ¥195 million. Borrowings outstanding continue to decline, but there is no disclosure stating that the risk of rising interest rates and other risks have disappeared. - FY2021-Q1MitigatedAnnual report
「This was due to decreases in short-term borrowings of ¥1,677 million and current-portion long-term borrowings of ¥71 million, among other factors.」
Borrowings outstanding decreased from the end of the previous fiscal year due to a decline in short-term borrowings and other items. There is no disclosure stating that the risk of rising interest rates and other risks have disappeared. - FY2020First statedAnnual report
「The ratio of total interest-bearing debt to total assets remained high, at 45.4% for the fiscal year ended March 2019 and 35.2% for the fiscal year ended March 2020.」
The disclosure describes the possibility that rising interest rates or changes in financial institutions' policies could make it difficult to secure the funding required to open facilities.