Interest Rate Risk on Variable-Rate Borrowings and Its Mitigation Through Interest Rate Swaps
First written in FY2018. 10 of 11 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2025: 13 of 67 companies on the "Worse" side.
104 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「Floating-rate borrowings are subject to interest rate risk, but we hedge this risk through interest-rate swap transactions.」
The policy of hedging the interest rate risk associated with floating-rate borrowings using interest-rate swaps remains in place. - FY2023RestatedAnnual report
「Floating-rate borrowings are subject to interest rate risk, but we hedge this risk through interest-rate swap transactions.」
The policy of hedging the interest rate risk associated with floating-rate borrowings using interest-rate swaps remains in place. - FY2023-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including the interest rate risk associated with floating-rate borrowings. - FY2023-Q2RestatedAnnual report
「No new business or other risks arose during the six-month period of the current consolidated fiscal year. There were also no material changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including the interest rate risk associated with floating-rate borrowings. - FY2023-Q1RestatedAnnual report
「During the cumulative first quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including the interest rate risk associated with floating-rate borrowings. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including the interest rate risk associated with floating-rate borrowings. - FY2022-Q2RestatedAnnual report
「No new business or other risks arose during the six-month period of the current consolidated fiscal year. There were also no material changes to the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including the interest rate risk associated with floating-rate borrowings. - FY2022-Q1RestatedAnnual report
「During the cumulative first quarter, there were no newly arising business or other risks. There were also no material changes in the business and other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes to existing risks, including the interest rate risk associated with floating-rate borrowings. - FY2021RestatedAnnual report
「Floating-rate borrowings are subject to interest rate risk, but we hedge this risk through interest-rate swap transactions.」
The policy of hedging the interest rate risk associated with floating-rate borrowings using interest-rate swaps remains in place. - FY2019RestatedAnnual report
「Borrowings, corporate bonds and lease obligations relating to finance lease transactions are used primarily to finance capital investment. Variable-rate borrowings are exposed to interest rate fluctuation risk, which we hedge through interest rate swap transactions.」
The policy of hedging the interest rate risk associated with floating-rate borrowings using interest-rate swaps remains in place. - FY2018First statedAnnual report
「Borrowings, corporate bonds and lease obligations relating to finance lease transactions are used primarily to finance capital investment. Variable-rate borrowings are exposed to interest rate fluctuation risk, which we hedge through interest rate swap transactions.」
This is the first explicit reference to the interest rate risk associated with floating-rate borrowings and the use of interest-rate swaps to hedge that risk.