Deterioration of the financial base due to declines in net assets and the equity ratio
First written in FY2017. 3 of 36 entries say "Mitigated", first in FY2018-Q2. Latest entry: FY2027-H1.
The whole theme swung hardest in 2025: 6 of 14 companies on the "Worse" side.
6 other companies' latest entry also says "Other".
- FY2027-H1Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥59 million. This was mainly attributable to a decrease in non-controlling interests resulting from dividend payments to non-controlling shareholders and other factors.」
Net assets decreased by ¥59 million, from ¥4,852 million at the end of the previous consolidated fiscal year to ¥4,792 million. Meanwhile, the equity ratio rose from 71.9% to 76.4%. - 2026-10-08OtherEarnings presentation
「Total net assets 4,852 4,792 △1.2% Equity ratio 71.9% 76.4%」
Net assets at the end of August 2026 declined from the end of February 2026, while the equity ratio increased from 71.9% to 76.4%. The movements in net assets and the equity ratio diverged. - FY2026Increase in net assets, decline in equity ratioAnnual report
「Net assets increased by ¥412 million from the end of the previous consolidated fiscal year to ¥4,852 million. This was mainly due to a ¥291 million increase in retained earnings and a ¥122 million increase in non-controlling interests, among other factors.」
Net assets increased by ¥412 million from the end of the previous fiscal year to ¥4,852 million. Meanwhile, the equity ratio fell from 75.3% to 71.9%. - 2026-04-09OtherEarnings presentation
「Net assets 4,164 4,440 4,852 4,997 Equity ratio 72.9% 75.3% 71.9% —」
Net assets increased from ¥4,440 million to ¥4,852 million, while the equity ratio declined from 75.3% to 71.9%. - FY2026-H1Increase in net assets, decline in equity ratioAnnual report
「Net assets increased by ¥126 million, mainly due to an increase in retained earnings, among other factors.」
Net assets increased by ¥126 million from the end of the previous consolidated fiscal year to ¥4,566 million. Meanwhile, the equity ratio fell from 75.3% to 74.0%. - FY2025Increase in Net Assets and Equity RatioAnnual report
「Net assets increased by ¥275 million from the end of the previous consolidated fiscal year to ¥4,440 million. This was mainly due to a ¥213 million increase in retained earnings and a ¥63 million increase in non-controlling interests, among other factors.」
Net assets increased by ¥275 million from the end of the previous fiscal year to ¥4,440 million, while the equity ratio also rose from 72.9% to 75.3%. - FY2025-H1Increase in Net Assets and Equity RatioAnnual report
「Net assets increased by ¥30 million, mainly due to an increase in retained earnings, among other factors.」
Net assets increased by ¥30 million from the end of the previous consolidated fiscal year to ¥4,194 million, while the equity ratio also rose from 72.9% to 74.9%. - FY2025-Q1Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥180 million, mainly due to a decrease in non-controlling interests resulting from dividend payments to non-controlling shareholders, among other factors.」
Net assets decreased by ¥180 million from ¥4,164 million at the end of the previous consolidated fiscal year to ¥3,984 million. Meanwhile, the equity ratio rose from 72.9% to 79.5%. - FY2024Increase in net assets, decline in equity ratioAnnual report
「Net assets increased by ¥356 million from the end of the previous consolidated fiscal year to ¥4,164 million. This was mainly due to a ¥141 million increase in retained earnings and a ¥213 million increase in non-controlling interests, among other factors.」
Net assets increased from ¥3,807 million at the end of the previous fiscal year to ¥4,164 million, while the equity ratio fell from 80.4% to 72.9%. - FY2024-Q3Increase in net assets, decline in equity ratioAnnual report
「Net assets increased by ¥220 million, mainly due to increases in retained earnings and non-controlling interests, among other factors.」
Net assets increased by ¥220 million from the end of the previous consolidated fiscal year to ¥4,028 million. Meanwhile, the equity ratio fell from 80.4% to 74.7%. - FY2024-Q2Increase in net assets, decline in equity ratioAnnual report
「Net assets increased by ¥135 million, mainly due to increases in retained earnings and non-controlling interests, among other factors.」
Net assets increased by ¥135 million from ¥3,807 million at the end of the previous consolidated fiscal year to ¥3,942 million. Meanwhile, the equity ratio fell from 80.4% to 76.8%. - FY2024-Q1Decline in net assets and equity ratioAnnual report
「Net assets decreased by ¥52 million, mainly due to a decrease in non-controlling interests resulting from dividend payments to non-controlling shareholders, among other factors.」
Net assets decreased by ¥52 million from ¥3,807 million at the end of the previous consolidated fiscal year to ¥3,755 million, while the equity ratio also fell from 80.4% to 78.7%. - FY2023Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥541 million from the end of the previous consolidated fiscal year to ¥3,807 million. This was mainly due to a ¥239 million decrease in retained earnings and a ¥300 million decrease in non-controlling interests, among other factors.」
Net assets decreased by ¥541 million from ¥4,348 million to ¥3,807 million, while the equity ratio rose from 76.5% to 80.4%. - FY2023-Q3Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥418 million, mainly due to dividend payments and a decrease in non-controlling interests resulting from dividend payments to non-controlling shareholders, among other factors.」
Net assets decreased by ¥418 million from ¥4,348 million at the end of the previous consolidated fiscal year to ¥3,930 million. Meanwhile, the equity ratio rose from 76.5% to 80.5%. - FY2023-Q2Smaller decline in net assets; higher equity ratioAnnual report
「Net assets decreased by ¥405 million, mainly due to dividend payments and a decrease in non-controlling interests resulting from dividend payments to non-controlling shareholders, among other factors.」
Net assets decreased by ¥405 million from the end of the previous consolidated fiscal year to ¥3,943 million, while the equity ratio rose from 76.5% to 81.6%. - FY2023-Q1Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥472 million, mainly due to a decrease in non-controlling interests resulting from dividend payments to non-controlling shareholders, among other factors.」
Net assets decreased by ¥472 million from ¥4,348 million at the end of the previous consolidated fiscal year to ¥3,875 million. Meanwhile, the equity ratio rose from 76.5% to 79.5%. - FY2022Decline in net assets and slight decrease in equity ratioAnnual report
「Net assets decreased by ¥194 million from the end of the previous consolidated fiscal year to ¥4,348 million. This was mainly due to a ¥160 million decrease in retained earnings, among other factors.」
Net assets decreased from ¥4,543 million at the end of the previous year to ¥4,348 million, while the equity ratio also fell from 76.8% to 76.5%. - FY2022-Q3Decline in net assets and equity ratioAnnual report
「Net assets decreased by ¥106 million. This was mainly due to a decrease in retained earnings resulting from dividend payments and other factors, as well as a decrease in non-controlling interests resulting from dividend payments to non-controlling shareholders and other factors.」
Net assets decreased by ¥106 million from the end of the previous consolidated fiscal year to ¥4,436 million. The equity ratio, a key management indicator, was 76.0%, down from 76.8% in the previous fiscal year. - FY2022-Q2Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥89 million, mainly due to a decrease in non-controlling interests resulting from dividend payments to non-controlling shareholders, among other factors.」
Net assets decreased by ¥89 million from the end of the previous consolidated fiscal year to ¥4,453 million, while the equity ratio rose from 76.8% to 77.5%. - FY2022-Q1Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥184 million, mainly due to a decrease in non-controlling interests resulting from dividend payments to non-controlling shareholders, among other factors.」
Net assets decreased by ¥184 million from ¥4,543 million at the end of the previous consolidated fiscal year to ¥4,358 million. Meanwhile, the equity ratio rose from 76.8% to 76.9%. - FY2021Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥78 million from the end of the previous consolidated fiscal year to ¥4,543 million. This was mainly due to an ¥84 million decrease in retained earnings, among other factors.」
Net assets decreased by ¥78 million from the end of the previous year, while the equity ratio rose from 75.5% to 76.8%. - FY2021-Q3Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥55 million, mainly due to a decrease in retained earnings, among other factors.」
Net assets decreased by ¥55 million from the end of the previous consolidated fiscal year to ¥4,566 million. Meanwhile, the equity ratio rose from 75.5% to 76.0%. - FY2021-Q2Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥43 million, mainly due to a decrease in non-controlling interests, among other factors.」
Net assets decreased by ¥43 million from ¥4,621 million at the end of the previous consolidated fiscal year to ¥4,578 million, while the equity ratio rose from 75.5% to 77.4%. - FY2021-Q1Decline in net assets, slight increase in equity ratioAnnual report
「Net assets decreased by ¥247 million, mainly due to decreases in non-controlling interests and retained earnings, among other factors.」
Net assets decreased by ¥247 million from the end of the previous consolidated fiscal year to ¥4,374 million. Meanwhile, the equity ratio edged up from 75.5% to 75.6%. - FY2020-Q3Increase in net assets, decline in equity ratioAnnual report
「Net assets increased by ¥386 million, mainly due to increases in retained earnings and non-controlling interests, among other factors.」
Net assets increased by ¥386 million from the end of the previous consolidated fiscal year to ¥4,549 million. Meanwhile, the equity ratio fell from 81.2% to 76.2%. - FY2020-Q2Increase in net assets, decline in equity ratioAnnual report
「Net assets increased by ¥311 million, mainly due to increases in non-controlling interests and retained earnings, among other factors.」
Net assets increased by ¥311 million from the end of the previous consolidated fiscal year to ¥4,474 million. Meanwhile, the equity ratio fell from 81.2% to 77.7%. - FY2020-Q1Increase in net assets, decline in equity ratioAnnual report
「Net assets increased by ¥126 million, mainly due to increases in non-controlling interests and retained earnings, among other factors.」
Net assets increased by ¥126 million from ¥4,163 million at the end of the previous consolidated fiscal year to ¥4,289 million. Meanwhile, the equity ratio fell from 81.2% to 80.7%. - FY2019Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥134 million from the end of the previous consolidated fiscal year to ¥4,163 million. This was mainly due to a ¥167 million decrease in retained earnings, among other factors.」
Net assets decreased from ¥4,298 million to ¥4,163 million, while the equity ratio rose from 65.4% to 81.2%. - FY2019-Q3Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥51 million, mainly due to a decrease in retained earnings, among other factors.」
Net assets decreased by ¥51 million from ¥4,298 million at the end of the previous consolidated fiscal year to ¥4,246 million, while the equity ratio rose from 65.4% to 80.7%. - FY2019-Q2Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥181 million, mainly due to a decrease in retained earnings, among other factors.」
Net assets decreased from ¥4,298 million at the end of the previous consolidated fiscal year to ¥4,116 million, while the equity ratio rose from 65.4% to 82.1%. - FY2019-Q1Lower net assets and higher equity ratioAnnual report
「Net assets decreased by ¥274 million, mainly due to a decrease in retained earnings, among other factors.」
Net assets decreased from ¥4,298 million at the end of the previous consolidated fiscal year to ¥4,024 million, while the equity ratio rose from 65.4% to 82.6%. - FY2018MitigatedAnnual report
「Net assets increased by ¥3,460 million from the end of the previous consolidated fiscal year to ¥4,298 million. This was mainly due to a ¥4,169 million increase in capital surplus, among other factors.」
Net assets increased from ¥837 million to ¥4,298 million, while the equity ratio also rose from 5.4% to 65.4%. The erosion of the financial base has been further alleviated by the increase in capital surplus and other factors. - FY2018-Q3MitigatedAnnual report
「Net assets increased by ¥1,585 million, mainly due to an increase in retained earnings, among other factors.」
Net assets increased from ¥837 million at the end of the previous consolidated fiscal year to ¥2,423 million, while the equity ratio also rose from 5.4% to 24.1%. - FY2018-Q2MitigatedAnnual report
「Net assets increased by ¥1,180 million, mainly due to an increase in retained earnings, among other factors.」
Net assets increased from ¥837 million at the end of the previous consolidated fiscal year to ¥2,018 million, while the equity ratio also rose from 5.4% to 14.9%. - FY2018-Q1WorsenedAnnual report
「Net assets decreased by ¥409 million, mainly due to a decrease in retained earnings, among other factors.」
Net assets decreased by ¥409 million from the end of the previous consolidated fiscal year to ¥428 million, while the equity ratio also fell from 5.4% to 1.9%. - FY2017First statedAnnual report
「Net assets decreased by ¥617 million from the end of the previous consolidated fiscal year to ¥837 million. This was mainly due to a ¥722 million decrease in retained earnings, among other factors.」
Net assets were ¥837 million and the consolidated equity ratio was 5.4%, indicating that the financial base had contracted from the previous consolidated fiscal year.