Financial risks arising from fluctuations in interest rates, liquidity and the securities market
First written in FY2017. 17 of 25 entries say "Worsened", first in FY2020. Latest entry: 2026-11-09.
Mikuni moved to the "Worse" side of this theme in 2019, 7 years before the typical company in this theme (2026).
The whole theme swung hardest in 2026: 8 of 23 companies on the "Worse" side.
3 other companies' latest entry also says "Worsened".
- FY2026MitigatedAnnual report
「As of 31 March 2026, the balance of short- and long-term borrowings, including current maturities, was ¥35,100 million.」
The balance of borrowings decreased from ¥39,995 million in the previous fiscal year to ¥35,100 million, reducing financial exposure. - 2026-05-29MitigatedRevisions to earnings forecasts
「これは主に、短期借入金が42億４千２百万円並びに１年以内返済予定の長期借入金が11億３千５百万円減少したことによるものであります。」
短期借入金及び１年以内返済予定の長期借入金が減少し、前期まで拡大していた借入金エクスポージャーに縮小がみられる。 - FY2026-H1WorsenedAnnual report
「Current liabilities were ¥46,901 million, an increase of ¥556 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥2,303 million in short-term borrowings, despite decreases of ¥651 million in notes and accounts payable-trade, ¥299 million in electronically recorded obligations, ¥356 million in current maturities of long-term borrowings, and ¥509 million in accounts payable included in “Other.” Non-current liabilities were ¥23,181 million, a decrease of ¥1,586 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease of ¥1,719 million in long-term borrowings.」
Short-term borrowings increased by ¥2,303 million, while long-term borrowings decreased by ¥1,719 million, indicating a shift in the borrowing mix toward short-term borrowings and a modest increase in borrowing exposure. - FY2025WorsenedAnnual report
「As of 31 March 2025, the balance of short- and long-term borrowings, including current maturities, was ¥39,995 million.」
The balance of borrowings increased from ¥35,363 million in the previous fiscal year to ¥39,995 million, expanding financial exposure related to interest rates and liquidity. The ¥6,200 million commitment line remains in place. - FY2025-H1WorsenedAnnual report
「Current liabilities were ¥52,989 million, an increase of ¥9,728 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥11,039 million in short-term borrowings, despite decreases of ¥560 million in notes and accounts payable-trade, ¥299 million in electronically recorded obligations, ¥356 million in current maturities of long-term borrowings, and ¥509 million in accounts payable included in “Other.” Non-current liabilities were ¥25,781 million, a decrease of ¥1,896 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥1,080 million in long-term borrowings and ¥764 million in deferred tax liabilities.」
Short-term borrowings increased by ¥11,039 million, while long-term borrowings decreased by ¥1,080 million. Net borrowings from financing activities increased by ¥8,989 million, expanding borrowing exposure. - FY2024-Q3WorsenedAnnual report
「Current liabilities were ¥50,834 million, an increase of ¥13,255 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥12,843 million in short-term borrowings. Non-current liabilities were ¥29,223 million, a decrease of ¥1,107 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥1,333 million in deferred tax liabilities, while long-term borrowings decreased by ¥2,445 million.」
Short-term borrowings increased by ¥12,843 million, while long-term borrowings decreased by ¥2,445 million. The combined balance of short- and long-term borrowings increased from the end of the previous consolidated fiscal year, expanding financial exposure. - FY2024-Q2WorsenedAnnual report
「Current liabilities were ¥43,178 million, an increase of ¥5,599 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥6,480 million in short-term borrowings. Non-current liabilities were ¥29,888 million, a decrease of ¥442 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease of ¥1,244 million in long-term borrowings.」
Short-term borrowings increased by ¥6,480 million, while long-term borrowings decreased by ¥1,244 million. The combined balance of short- and long-term borrowings increased from the end of the previous consolidated fiscal year. - FY2024-Q1WorsenedAnnual report
「Current liabilities were ¥42,849 million, an increase of ¥5,270 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥6,000 million in short-term borrowings.」
Short-term borrowings increased by ¥6,000 million from the end of the previous consolidated fiscal year, expanding financial exposure related to liquidity and borrowings. - FY2023-Q3WorsenedAnnual report
「Current liabilities were ¥41,751 million, an increase of ¥8,197 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥6,056 million in short-term borrowings.」
Short-term borrowings increased by ¥6,056 million, expanding liquidity and borrowing exposure from the end of the previous consolidated fiscal year. - FY2023-Q2WorsenedAnnual report
「Current liabilities were ¥41,361 million, an increase of ¥7,808 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥5,810 million in short-term borrowings. Non-current liabilities were ¥30,780 million, a decrease of ¥663 million from the end of the previous consolidated fiscal year. This was mainly due to a decrease of ¥1,226 million in long-term borrowings.」
Short-term borrowings increased by ¥5,810 million, while long-term borrowings decreased by ¥1,226 million. The combined balance of short- and long-term borrowings increased from the end of the previous consolidated fiscal year, expanding financial exposure. - FY2023-Q1WorsenedAnnual report
「Current liabilities were ¥39,621 million, an increase of ¥6,068 million from the end of the previous consolidated fiscal year, mainly because short-term borrowings increased by ¥4,091 million. Non-current liabilities were ¥31,202 million, a decrease of ¥241 million from the end of the previous consolidated fiscal year, mainly because long-term borrowings decreased by ¥555 million.」
Short-term borrowings increased by ¥4,091 million, while long-term borrowings decreased by ¥555 million. The combined balance of short- and long-term borrowings increased from the end of the previous consolidated fiscal year. - FY2022MitigatedAnnual report
「As of 31 March 2022, the balance of short- and long-term borrowings, including borrowings due for repayment within 1 year, was ¥35,363 million.」
The balance of short- and long-term borrowings decreased from ¥36,568 million in the previous fiscal year to ¥35,363 million, reducing borrowing exposure. - FY2022-Q3WorsenedAnnual report
「Current liabilities were ¥33,550 million, an increase of ¥2,332 million from the end of the previous consolidated fiscal year. This was mainly because notes and accounts payable increased by ¥1,892 million and short-term borrowings increased by ¥1,611 million. Non-current liabilities were ¥34,544 million, an increase of ¥267 million from the end of the previous consolidated fiscal year, mainly because long-term borrowings increased by ¥223 million.」
Short- and long-term borrowings increased from the end of the previous consolidated fiscal year, expanding financial exposure related to borrowings and liquidity. - FY2022-Q2MitigatedAnnual report
「Current liabilities were ¥32,307 million, an increase of ¥1,088 million from the end of the previous consolidated fiscal year, mainly because short-term borrowings increased by ¥1,390 million. Non-current liabilities were ¥32,688 million, a decrease of ¥1,588 million, mainly because long-term borrowings decreased by ¥1,758 million.」
While short-term borrowings increased, long-term borrowings decreased by ¥1,758 million, and the combined balance of short- and long-term borrowings declined from the end of the previous consolidated fiscal year. - FY2022-Q1MitigatedAnnual report
「Non-current liabilities were ¥33,299 million, a decrease of ¥977 million from the end of the previous consolidated fiscal year, mainly because long-term borrowings decreased by ¥1,007 million.」
Long-term borrowings decreased by ¥1,007 million from the end of the previous consolidated fiscal year, while non-current liabilities also decreased by ¥977 million. Part of the borrowing exposure has contracted. - FY2021WorsenedAnnual report
「As of 31 March 2021, the balance of short- and long-term borrowings, including borrowings due for repayment within 1 year, was ¥36,568 million.」
The balance of short- and long-term borrowings increased from ¥33,627 million in the previous fiscal year to ¥36,568 million, expanding borrowing exposure. - FY2021-Q3WorsenedAnnual report
「Current liabilities were ¥37,024 million, an increase of ¥5,817 million from the end of the previous consolidated fiscal year. This was mainly because short-term borrowings increased by ¥7,508 million, although notes and accounts payable decreased by ¥754 million. Non-current liabilities were ¥34,053 million, an increase of ¥1,590 million from the end of the previous consolidated fiscal year, mainly because long-term borrowings increased by ¥1,001 million.」
Short- and long-term borrowings increased from the end of the previous consolidated fiscal year, expanding financial exposure related to borrowings and liquidity. - FY2021-Q2WorsenedAnnual report
「Current liabilities were ¥31,961 million, an increase of ¥754 million from the end of the previous consolidated fiscal year. This was mainly because short-term borrowings increased by ¥5,949 million, although notes and accounts payable decreased by ¥3,837 million and other liabilities decreased by ¥753 million due to payments for capital investment and other factors. Non-current liabilities were ¥35,062 million, an increase of ¥2,600 million from the end of the previous consolidated fiscal year, mainly because long-term borrowings increased by ¥2,237 million.」
Short-term borrowings increased by ¥5,949 million and long-term borrowings by ¥2,237 million, expanding borrowing exposure. - FY2021-Q1WorsenedAnnual report
「Current liabilities were ¥33,367 million, an increase of ¥2,160 million from the end of the previous consolidated fiscal year. This was mainly because short-term borrowings increased by ¥4,497 million, although trade payables decreased by ¥2,005 million. Non-current liabilities were ¥33,040 million, an increase of ¥577 million from the end of the previous consolidated fiscal year, mainly because long-term borrowings increased by ¥302 million.」
Short-term borrowings increased by ¥4,497 million and long-term borrowings by ¥302 million, expanding debt and borrowing exposure. - FY2020WorsenedAnnual report
「As of 31 March 2020, the balance of short- and long-term borrowings, including borrowings due for repayment within 1 year, was ¥33,627 million.」
The company discloses short- and long-term borrowings of ¥33,627 million as financial exposure related to financial markets and liquidity. - FY2020-Q1MaterialisedAnnual report
「Interest expense 92 107」
Interest expense increased from ¥92 million in the same period of the previous year to ¥107 million, indicating that higher costs related to interest-rate and financial risks are reflected in profit and loss. - FY2019-Q3MaterialisedAnnual report
「Ordinary profit was ¥3,180 million, up 6.6% year on year, partly due to higher interest expense. Interest expense 280 325」
In relation to interest-rate and financial risks, the increase in interest expense from ¥280 million in the same period of the previous year to ¥325 million is reflected in the income statement. - FY2017First statedAnnual report
「Changes in interest-rate levels and liquidity availability resulting from changes in monetary policy in various countries and other factors may affect borrowing rates and cash management at the Group’s Japanese and overseas subsidiaries. Fluctuations in securities markets may also affect the Group’s operating results and financial position.」
In addition to foreign exchange risk, the company has classified fluctuations in interest rates and liquidity arising from monetary policy in various countries, borrowing rates and cash management at overseas subsidiaries, and securities markets as financial risks.