Risks Relating to Substantial Borrowings, Interest Rate Fluctuations and Financial Covenants
First written in FY2021. 10 of 14 entries say "Mitigated", first in FY2022-Q1. Latest entry: 2026-08-13.
The whole theme swung hardest in 2017: 8 of 54 companies on the "Worse" side.
13 other companies' latest entry also says "Other".
- FY2026MitigatedAnnual report
「As of the end of the current consolidated fiscal year, total liabilities were ¥3,940,174 thousand, down ¥536,566 thousand year on year. Non-current liabilities were ¥2,026,905 thousand, down ¥501,547 thousand. This was mainly because long-term borrowings decreased by ¥533,356 thousand.」
Long-term borrowings decreased by ¥533,356 thousand from the end of the previous fiscal year, while total liabilities and non-current liabilities also declined. - 2026-05-14MitigatedEarnings
「Non-current liabilities were ¥2,026,905 thousand, down ¥501,547 thousand from the previous fiscal year-end. This was mainly because long-term borrowings decreased by ¥533,356 thousand.」
Borrowing exposure declined from the previous fiscal year-end due to a decrease in long-term borrowings. - FY2026-H1Change in Borrowing MixAnnual report
「Current liabilities were ¥2,084,539 thousand, up ¥136,251 thousand year on year. This was mainly because short-term borrowings increased by ¥190,000 thousand, despite a ¥45,016 thousand decrease in accrued corporate taxes and other liabilities. Non-current liabilities were ¥2,150,107 thousand, down ¥378,345 thousand. This was mainly because long-term borrowings decreased by ¥391,678 thousand.」
Short-term borrowings increased by ¥190,000 thousand while long-term borrowings decreased by ¥391,678 thousand, changing the composition of borrowings. - FY2024-Q2WorsenedAnnual report
「Current liabilities were ¥1,750,193 thousand, up ¥142,293 thousand year on year. This was mainly because short-term borrowings increased by ¥500,000 thousand, despite a ¥450,079 thousand decrease in other current liabilities.」
Short-term borrowings of ¥500,000 thousand, which had not been recorded at the end of the previous consolidated fiscal year, were recognized, and total liabilities also increased by ¥80,885 thousand, indicating greater borrowing exposure. - FY2024-Q1MitigatedAnnual report
「As of the end of the first quarter of the current consolidated fiscal year, total liabilities were ¥1,204,657 thousand, down ¥488,792 thousand year on year. Current liabilities were ¥1,180,173 thousand, down ¥427,725 thousand. This was mainly because other current liabilities decreased by ¥371,286 thousand. Non-current liabilities were ¥24,484 thousand, down ¥61,066 thousand. This was mainly because ¥60,712 thousand was transferred from long-term borrowings to current liabilities.」
Total liabilities and non-current liabilities have continued to decline from the end of the previous consolidated fiscal year, reducing liability exposure, including borrowings. - FY2023MitigatedAnnual report
「As of the end of the seventh consolidated fiscal year, interest-bearing debt accounted for 6.1% of total assets.」
The interest-bearing debt ratio declined from 9.1% in the previous fiscal year to 6.1%, and the balance of borrowings also decreased. - FY2023-Q3MitigatedAnnual report
「As of the end of the third quarter of the current consolidated fiscal year, total liabilities were ¥1,651,206 thousand, down ¥417,796 thousand year on year. Current liabilities were ¥1,472,847 thousand, down ¥233,574 thousand. … Non-current liabilities were ¥178,358 thousand, down ¥184,221 thousand. This was mainly because ¥181,032 thousand was transferred from long-term borrowings to current liabilities.」
Total liabilities and non-current liabilities have continued to decline from the end of the previous consolidated fiscal year, reducing liability exposure, including borrowings. - FY2023-Q2MitigatedAnnual report
「As of the end of the second quarter of the current consolidated fiscal year, total liabilities were ¥1,613,689 thousand, down ¥455,313 thousand year on year. Current liabilities were ¥1,372,974 thousand, down ¥333,448 thousand. This was mainly because other current liabilities decreased by ¥373,361 thousand. Non-current liabilities were ¥240,715 thousand, down ¥121,864 thousand. This was mainly because ¥120,288 thousand was transferred from long-term borrowings to current liabilities.」
Total liabilities and non-current liabilities declined from the end of the previous consolidated fiscal year, further reducing liability exposure, including long-term borrowings. - FY2022MitigatedAnnual report
「As of the end of the sixth consolidated fiscal year, interest-bearing debt accounted for 9.1% of total assets.」
The interest-bearing debt ratio declined from 35.1% previously to 9.1%, and the disclosure also describes debt repayments and successful negotiations to improve the terms of the financial covenants. - FY2022-Q3MitigatedAnnual report
「As of the end of the third quarter of the current consolidated fiscal year, total liabilities were ¥1,946,344 thousand, down ¥214,101 thousand year on year. Current liabilities were ¥1,531,993 thousand, down ¥31,925 thousand, while non-current liabilities were ¥414,350 thousand, down ¥182,175 thousand. This was mainly because ¥181,032 thousand was transferred from long-term borrowings to current liabilities.」
Total liabilities and non-current liabilities declined from the end of the previous consolidated fiscal year, indicating lower liability exposure, including borrowings. - FY2022-Q1MitigatedAnnual report
「As of the end of the first quarter of the current consolidated fiscal year, total liabilities were ¥1,423,894 thousand, down ¥736,551 thousand year on year. Current liabilities were ¥888,576 thousand, down ¥675,343 thousand. This was mainly because short-term borrowings decreased by ¥490,000 thousand and other current liabilities decreased by ¥116,841 thousand.」
Liabilities, including short-term borrowings, declined from the end of the previous consolidated fiscal year, while the equity ratio rose from 45.2% to 71.7%. - FY2021First statedAnnual report
「As of the end of the fifth consolidated fiscal year, interest-bearing debt accounted for 35.1% of total assets.」
The disclosure states financial covenant thresholds including net assets of at least ¥700,000 thousand, EBITDA of at least ¥480,000 thousand and cash flow of at least ¥350,000 thousand.