Dependence on Interest-Bearing Debt and Financing Constraints
First written in FY2023. 10 of 15 entries say "Worsened", first in FY2024. Latest entry: FY2026.
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「As of the end of the fiscal year ended June 2026, borrowings amounted to ¥5,410.909 million, equivalent to 44.1% of total assets.」
Borrowings increased from ¥3,350 million at the end of the previous fiscal year to ¥5,410.909 million, indicating greater dependence on interest-bearing liabilities in connection with capital investment and new-material mass production. - FY2026-H1WorsenedAnnual report
「The main factor was an increase of ¥210,967 thousand in income taxes payable and an increase of ¥891,667 thousand in long-term borrowings, including the portion due within 1 year.」
Long-term borrowings including the portion due within 1 year increased by ¥891,667 thousand from the previous fiscal year-end, expanding borrowing dependence. The equity ratio was 45.0%. - FY2025WorsenedAnnual report
「At the end of the fiscal year ended June 2025, we had ¥3,350 million in borrowings, equivalent to 40.8% of total assets. In September 2024, we entered into a borrowing agreement for a total of ¥3,300 million under a syndicated loan, including a commitment line, and made partial early repayments of existing borrowings, but the balance of borrowings increased.」
Year-end borrowings increased from ¥2,768 million to ¥3,350 million, with borrowings representing 40.8% of total assets. - FY2025-H1WorsenedAnnual report
「The main factors were decreases of ¥159,243 thousand in accounts payable and ¥118,832 thousand in income taxes payable, partly offset by an increase of ¥681,753 thousand in long-term borrowings, including the portion due within 1 year, resulting from refinancing through a syndicated loan.」
Refinancing increased long-term borrowings by ¥681,753 thousand, bringing long-term borrowings including the portion due within 1 year to ¥3,450,000 thousand at the end of the interim period. The refinancing was intended to stabilize the financial base and secure funds for capital investment and working capital. - FY2024WorsenedAnnual report
「At the end of the fiscal year ended June 2024, we had ¥2,768 million in borrowings, equivalent to 38.3% of total assets. In September 2024, we borrowed a total of ¥3,300 million under a syndicated loan and made partial early repayments of existing borrowings, but the balance of borrowings increased.」
Year-end borrowings declined from ¥3,106 million to ¥2,768 million and as a percentage of total assets from 53.7% to 38.3%, but the balance increased after the ¥3,300 million syndicated loan in September 2024. - FY2024-Q3MitigatedAnnual report
「The main factors were increases of ¥77,246 thousand in advances received and ¥88,004 thousand in income taxes payable, partly offset by decreases of ¥135,450 thousand from repayments of lease liabilities, including the portion due within 1 year, and ¥238,618 thousand from repayments of long-term borrowings, including the portion due within 1 year.」
Repayments of long-term borrowings and lease liabilities progressed, reducing liabilities. The equity ratio also rose from 27.9% at the end of the previous fiscal year to 41.1%, indicating continued improvement in the financial base. - FY2024-Q2MitigatedAnnual report
「Assets at the end of the second quarter accounting period were ¥6,621,406 thousand, an increase of ¥833,170 thousand from the end of the previous fiscal year. The main factors were a ¥569,904 thousand increase in cash and deposits from quarterly net income and the issuance of new shares through the stock listing, and a ¥436,053 thousand increase in property, plant and equipment.」
The stock listing, new share issuance and earnings increased cash and deposits, while long-term borrowings declined through repayments. The equity ratio rose from 27.9% at the end of the previous fiscal year to 38.4%, indicating continued improvement in the financial base. - FY2024-Q1MitigatedAnnual report
「The main reasons for the increase in cash and deposits were the recognition of quarterly net income and the issuance of new shares of ¥758,586 thousand in connection with the stock listing.」
The stock listing and earnings increased cash and deposits from ¥1,728,427 thousand to ¥2,455,163 thousand and the equity ratio from 27.9% to 37.2%. Borrowings also declined through repayments, indicating an improved financial base. - FY2023First statedAnnual report
「At the end of the fiscal year ended June 2023, we had ¥3,106 million in borrowings, equivalent to 53.7% of total assets.」
The company plans to strengthen its financial base through liquidity on hand of ¥1,728 million, maintaining relationships with financial institutions and improving capital efficiency.