Increase in Borrowings and Decline in Equity Ratio Accompanying M&A Expansion
First written in FY2024. 7 of 9 entries say "Worsened", first in FY2025-H1. Latest entry: FY2026.
Meiho Holdings moved to the "Worse" side of this theme in 2026, 5 years after the typical company in this theme (2021).
The whole theme swung hardest in 2026: 9 of 34 companies on the "Worse" side.
7 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「As a result, the equity ratio was 29.3%, compared with 33.1% at the end of the previous consolidated fiscal year.」
The equity ratio decreased from 33.1% to 29.3%. The incurrence of ¥836.506 million in short-term borrowings and a net loss of ¥27.128 million attributable to owners of the parent put pressure on the financial position. - FY2026-H1WorsenedAnnual report
「As a result, the equity ratio was 28.4% (33.1% at the end of the previous consolidated fiscal year).」
The equity ratio declined from 33.1% at the end of the previous fiscal year to 28.4%, and pressure on the financial base intensified again as a result of increased short-term borrowings and an interim net loss. - FY2025MitigatedAnnual report
「As a result, the equity ratio was 33.1% (26.5% at the end of the previous consolidated fiscal year).」
The equity ratio rose from 26.5% at the end of the previous fiscal year to 33.1%, also improving from the 24.7% reported for the previous interim period. Pressure on the financial base from expanded M&A and borrowings eased somewhat. - FY2025-H1WorsenedAnnual report
「As a result, the equity ratio was 24.7% (26.5% at the end of the previous consolidated fiscal year).」
The equity ratio declined further, from 26.5% at the end of the previous consolidated fiscal year to 24.7%. - FY2024First statedAnnual report
「As a result, the equity ratio was 26.5% (51.2% at the end of the previous consolidated fiscal year).」
The company reported that the equity ratio declined from 51.2% to 26.5%, against a backdrop of large-scale M&A and increased borrowings.