Funding Environment, Interest Rate Fluctuations, and Financial Covenant Risk
First written in FY2016. 9 of 20 entries say "Mitigated", first in FY2022. Latest entry: 2026-06-29.
The whole theme swung hardest in 2025: 12 of 50 companies on the "Worse" side.
23 other companies' latest entry also says "Mitigated".
- 2026-06-29MitigatedTimely disclosure
「本リファイナンスは、既存劣後ローンの借換制限条項（※1）を遵守しつつ、調達手段の多様化、財務基盤の維持・強化を図ることを目的としております。」
新規劣後ローンによる既存劣後ローンの借換えと調達手段の多様化を決定し、資金調達環境に対する対応策を具体化した。 - FY2026MitigatedAnnual report
「At the end of the consolidated fiscal year, liquidity, comprising ¥1.2932 trillion in cash and cash equivalents plus ¥200 billion in unused committed lines, totaled ¥1.4932 trillion, equivalent to 3.6 months of monthly sales.」
Net cash totaled ¥443 billion, while liquidity, including cash and committed lines, was secured at ¥1.4932 trillion. - FY2026-H1Decline in net cash and increase in interest-bearing debtAnnual report
「At the end of the interim period of the current consolidated fiscal year, cash and cash equivalents decreased by ¥52.3 billion from the end of the previous fiscal year to ¥1.0533 trillion, while interest-bearing debt increased by ¥96.9 billion to ¥802.1 billion. As a result, the company had a net cash position of ¥251.2 billion.」
Net cash contracted from the end of the previous fiscal year as cash and cash equivalents declined and interest-bearing debt increased. However, the company has not shifted to a net interest-bearing debt position. - FY2025MitigatedAnnual report
「At the end of the consolidated fiscal year, liquidity consisting of ¥1,105.6 billion in cash and cash equivalents plus ¥200.0 billion in unused committed credit lines totaled ¥1,305.6 billion, equivalent to 3.1 months of monthly sales.」
The company secured liquidity of ¥1,305.6 billion by combining cash and cash equivalents with committed credit lines, demonstrating its capacity to respond to changes in funding conditions. - FY2024-Q3MitigatedAnnual report
「At the end of the third quarter, cash and cash equivalents increased by ¥28.6 billion from the end of the previous consolidated fiscal year to ¥745.6 billion, while interest-bearing debt decreased by ¥80.5 billion to ¥535.0 billion. As a result, the company had a net cash position of ¥210.7 billion.」
Cash and cash equivalents increased and interest-bearing debt decreased by ¥80.5 billion from the end of the previous fiscal year, resulting in net cash of ¥210.7 billion. Financial headroom to address funding conditions and other factors improved from the end of the previous fiscal year. - FY2024-Q2MitigatedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, cash and cash equivalents increased by ¥64.1 billion from the end of the previous fiscal year to ¥781.2 billion, while interest-bearing debt decreased by ¥59.7 billion to ¥555.8 billion. As a result, the company had a net cash position of ¥225.4 billion.」
Interest-bearing debt declined and net cash increased to ¥225.4 billion. Financial headroom to address funding conditions and other factors has improved from FY2024-Q1. - FY2024-Q1MitigatedAnnual report
「At the end of the first quarter of the current consolidated fiscal year, cash and cash equivalents decreased by ¥31.0 billion from the end of the previous fiscal year to ¥686.1 billion, while interest-bearing debt decreased by ¥40.4 billion to ¥575.1 billion. As a result, the company had a net cash position of ¥111.0 billion.」
Financial headroom improved from the end of the previous fiscal year as interest-bearing debt declined and the company secured net cash of ¥111.0 billion. - FY2023MitigatedAnnual report
「As a result, the company had a net cash position of ¥101.6 billion.」
The net cash position improved from ¥34.6 billion previously to ¥101.6 billion, while interest-bearing debt also decreased by ¥65.3 billion from the end of the previous fiscal year. - FY2023-Q3Decline in net cash and increase in interest-bearing debtAnnual report
「Cash and cash equivalents increased by ¥17.5 billion from the end of the previous fiscal year to ¥757.9 billion, while interest-bearing debt increased by ¥42.5 billion to ¥723.3 billion. As a result, the company had a net cash position of ¥34.6 billion.」
The company maintained a net cash position following FY2023-Q2, but it narrowed from ¥46.8 billion in the previous quarter to ¥34.6 billion, while interest-bearing debt increased. - FY2023-Q2MitigatedAnnual report
「As a result, the company had a net cash position of ¥46.8 billion.」
The company reversed from net interest-bearing debt of ¥78.6 billion in FY2023-Q1 to a net cash position. However, interest-bearing debt increased by ¥49.5 billion from the end of the previous consolidated fiscal year. - FY2023-Q1WorsenedAnnual report
「Cash and cash equivalents decreased by ¥6.2 billion from the end of the previous consolidated fiscal year to ¥734.2 billion, while interest-bearing debt increased by ¥132.0 billion to ¥812.8 billion. As a result, net interest-bearing debt, calculated by subtracting year-end cash and cash equivalents from interest-bearing debt, was ¥78.6 billion.」
The company shifted from net cash at the end of FY2022 to net interest-bearing debt, while interest-bearing debt increased to ¥812.8 billion. The direction has changed from the improvement in the financial base indicated at the end of FY2022. - FY2022MitigatedAnnual report
「Interest-bearing debt decreased by ¥75.1 billion from the end of the previous consolidated fiscal year to ¥680.8 billion. As a result, net interest-bearing debt, calculated by subtracting year-end cash and cash equivalents from interest-bearing debt, was a net cash position of ¥59.6 billion.」
Interest-bearing debt, which had increased in response to the infectious disease and other factors, declined, improving the position to net cash of ¥59.6 billion on a net interest-bearing debt basis. - FY2022-Q3Increase in short-term borrowings and expansion of interest-bearing debtAnnual report
「Cash and cash equivalents increased by ¥29.1 billion from the end of the previous consolidated fiscal year to ¥767.9 billion, while interest-bearing debt increased by ¥128.9 billion to ¥884.8 billion.」
Interest-bearing debt increased by ¥128.9 billion from the end of the previous consolidated fiscal year, mainly due to an increase in short-term borrowings and other factors, resulting in net interest-bearing debt of ¥116.9 billion. - FY2022-Q2Continued increase in short-term borrowingsAnnual report
「Interest-bearing debt increased by ¥103.9 billion from the end of the previous consolidated fiscal year to ¥859.8 billion, mainly due to an increase in short-term borrowings and other factors.」
Interest-bearing debt increased by ¥103.9 billion from the end of the previous fiscal year, mainly due to short-term borrowings and other factors, and borrowings for business funding continued to increase. - FY2022-Q1Short-term borrowings continue to increaseAnnual report
「Interest-bearing debt increased by ¥111.8 billion from the end of the previous consolidated fiscal year to ¥867.7 billion, mainly due to an increase in short-term borrowings and other factors.」
Interest-bearing debt increased by ¥111.8 billion from the end of the previous fiscal year, mainly due to an increase in short-term borrowings and other factors. Net cash provided by financing activities also increased by ¥108.3 billion. - FY2021-Q2Additional borrowing and continued fundraisingAnnual report
「Net cash provided by financing activities increased by ¥323.6 billion, compared with a ¥3.1 billion decrease in the same period of the previous year, mainly because the company raised funds to prepare for business funding risks associated with COVID-19.」
The company continued to raise funds to prepare for business funding risks associated with the infectious disease, resulting in ¥323.6 billion of net cash provided by financing activities. Interest-bearing debt increased by ¥338.9 billion from the end of the previous fiscal year to ¥958.8 billion. - FY2021-Q1Execution of additional borrowingAnnual report
「Net cash provided by financing activities increased by ¥366.5 billion, compared with a ¥38.9 billion decrease in the same period of the previous year, mainly because the company raised funds to prepare for business funding risks associated with COVID-19.」
The company raised funds to prepare for business funding risks, resulting in ¥366.5 billion of net cash provided by financing activities. Interest-bearing debt increased by ¥381.6 billion from the end of the previous fiscal year. - FY2020MaterialisedAnnual report
「To prepare for business funding risks associated with the global spread of COVID-19, the company raised a total of ¥290 billion through borrowings from its lending financial institutions between 30 April 2020 and 22 June 2020.」
To prepare for business funding risks associated with COVID-19, the company had raised a total of ¥290 billion through borrowings by the filing date. - FY2017RestatedAnnual report
「If financial markets become dislocated, tax reforms or changes are made to the systems of government-affiliated financial institutions, or the Group's credit ratings are downgraded, among other events, the Group's operating results and financial position may be adversely affected by higher funding costs or difficulty raising the required amount of funds.」
The company continues to disclose funding risks related to financial markets, changes in systems, credit ratings, rising interest rates, and financial covenants. - FY2016First statedAnnual report
「If financial markets become dislocated, tax reforms or changes are made to the systems of government-affiliated financial institutions, or the Group's credit ratings are downgraded, among other events, funding costs may increase and it may become difficult to raise the required amount of funds.」
The company identifies financial market conditions, tax and regulatory systems, credit ratings, rising interest rates, and breaches of financial covenants as funding risks.