Interest Rate Fluctuation and Financial Covenant Risk
First written in FY2018. 13 of 23 entries say "Mitigated", first in FY2021-Q1. Latest entry: FY2027-H1.
- FY2027-H1MitigatedAnnual report
「Net cash used in financing activities during the current interim consolidated accounting period was ¥79 million, compared with ¥387 million used in the same period of the previous year. This was due to ¥25 million in repayments of lease obligations and ¥54 million in dividend payments.」
Cash used in financing activities decreased from ¥387 million in the same period of the previous year to ¥79 million, while repayments of lease obligations also continued. - FY2026MitigatedAnnual report
「The balance of interest-bearing debt, including lease liabilities, was ¥201,317 thousand as of the end of the consolidated fiscal year.」
Short-term and long-term borrowings were eliminated, leaving interest-bearing debt, including lease liabilities, of ¥201,317 thousand. Financial burden narrowed from ¥393,502 thousand at the end of the previous fiscal year. - FY2026-H1Decrease in short-term borrowings and increase in lease liabilitiesAnnual report
「Current liabilities decreased by ¥397 million from the end of the previous consolidated fiscal year to ¥1,421 million. This was mainly because decreases including ¥270 million in short-term borrowings and ¥66 million in accounts payable exceeded increases including ¥8 million in lease liabilities. Fixed liabilities increased by ¥166 million from the end of the previous consolidated fiscal year to ¥231 million. This was mainly due to an increase of ¥156 million in lease liabilities.」
Short-term borrowings decreased, while lease liabilities, apparently related to the relocation of production plants and other factors, increased, raising fixed liabilities. - FY2025-H1MitigatedAnnual report
「Current liabilities decreased by ¥42 million from the end of the previous consolidated fiscal year to ¥1,993 million. This was mainly because decreases including ¥290 million in short-term borrowings exceeded increases including ¥224 million in notes and accounts payable. Fixed liabilities decreased by ¥81 million from the end of the previous consolidated fiscal year to ¥221 million. This was mainly due to decreases of ¥24 million in long-term borrowings and ¥45 million in lease liabilities.」
Short-term borrowings, long-term borrowings and lease liabilities decreased, reducing both current and fixed liabilities from the end of the previous consolidated fiscal year. - FY2025-Q1Decrease in long-term borrowings and increase in short-term borrowingsAnnual report
「Current liabilities increased by ¥125 million from the end of the previous consolidated fiscal year to ¥2,160 million. This was mainly because increases including ¥71 million in notes and accounts payable and ¥140 million in short-term borrowings exceeded decreases including ¥20 million in accounts payable and ¥37 million in income taxes payable. Fixed liabilities decreased by ¥33 million from the end of the previous consolidated fiscal year to ¥269 million. This was mainly due to decreases including ¥22 million in lease liabilities and ¥18 million in long-term borrowings.」
Long-term borrowings and lease liabilities decreased, while short-term borrowings increased by ¥140 million, raising current liabilities. - FY2024Decrease in long-term borrowings and emergence of short-term borrowingsAnnual report
「Current liabilities increased by ¥307,104 thousand from the end of the previous consolidated fiscal year to ¥2,035,593 thousand. This was mainly because increases including ¥500,000 thousand in short-term borrowings exceeded decreases including ¥169,809 thousand in notes and accounts payable. Fixed liabilities decreased by ¥643,863 thousand from the end of the previous consolidated fiscal year to ¥302,968 thousand. This was mainly due to decreases of ¥545,530 thousand in long-term borrowings and ¥105,228 thousand in lease liabilities.」
Long-term borrowings and lease liabilities decreased, narrowing financial burden, while ¥500 million in short-term borrowings emerged, increasing current liabilities. - FY2024-Q2MitigatedAnnual report
「Fixed liabilities decreased by ¥320 million from the end of the previous consolidated fiscal year to ¥626 million. This was mainly due to decreases including ¥276 million in long-term borrowings and ¥44 million in lease liabilities resulting from repayments.」
Repayments of long-term borrowings and lease liabilities reduced fixed liabilities, financial burden and exposure to interest-rate fluctuations. - FY2024-Q1MitigatedAnnual report
「Fixed liabilities decreased by ¥68 million from the end of the previous consolidated fiscal year to ¥878 million. This was mainly due to a ¥53 million decrease in long-term borrowings resulting from repayments.」
Repayment of long-term borrowings reduced fixed liabilities, further narrowing financial burden. - FY2023-Q3MitigatedAnnual report
「Fixed liabilities decreased by ¥182 million from the end of the previous consolidated fiscal year to ¥1,064 million. This was mainly because decreases including ¥169 million in long-term borrowings and ¥36 million in lease liabilities exceeded increases including ¥18 million in deferred tax liabilities included in other fixed liabilities.」
Decreases in long-term borrowings and lease liabilities further reduced fixed liabilities and financial burden. - FY2023-Q2MitigatedAnnual report
「Fixed liabilities decreased by ¥88 million from the end of the previous consolidated fiscal year to ¥1,158 million. This was mainly because decreases including ¥112 million in long-term borrowings resulting from repayments」
Repayment of long-term borrowings reduced fixed liabilities by ¥88 million from the end of the previous fiscal year, with financial burden continuing to narrow. - FY2023-Q1MitigatedAnnual report
「Fixed liabilities decreased by ¥29 million from the end of the previous consolidated fiscal year to ¥1,217 million. This was mainly due to decreases including ¥56 million in long-term borrowings resulting from repayments」
Repayment of long-term borrowings reduced fixed liabilities by ¥29 million from the end of the previous consolidated fiscal year, narrowing financial burden. - FY2022MitigatedAnnual report
「The Group's interest-bearing debt ratio was 30.5% as of the end of the consolidated fiscal year ended February 2022. The Group is working to reduce its interest-bearing debt and improve its net financial income and expenses.」
The interest-bearing debt ratio fell from 66.6% in the previous fiscal year to 30.5%, while repayments of long-term borrowings also progressed. - FY2022-Q3MitigatedAnnual report
「Fixed liabilities decreased by ¥962 million from the end of the previous consolidated fiscal year to ¥1,322 million. This was mainly due to decreases of ¥950 million in long-term borrowings and ¥12 million in lease liabilities.」
Decreases in long-term borrowings and lease liabilities significantly reduced fixed liabilities, with financial burden and exposure to interest-rate fluctuations continuing to narrow. - FY2022-Q2MitigatedAnnual report
「Fixed liabilities decreased by ¥899 million from the end of the previous consolidated fiscal year to ¥1,385 million. This was mainly due to decreases including the repayment of ¥889 million in long-term borrowings, which was made as a result of the improvement in the Group's financial position.」
Repayment of ¥889 million in long-term borrowings reduced fixed liabilities by ¥899 million from the end of the previous fiscal year, indicating a reduction in financial burden. - FY2022-Q1MitigatedAnnual report
「Fixed liabilities decreased by ¥542 million from the end of the previous consolidated fiscal year to ¥1,743 million. This was mainly due to a ¥546 million decrease in long-term borrowings resulting from repayments.」
Repayment of long-term borrowings reduced fixed liabilities by ¥542 million from the end of the previous fiscal year, narrowing the exposure to financial burden. - FY2021-Q2Slight increase in fixed liabilities due to new borrowingsAnnual report
「Fixed liabilities increased by ¥48 million from the end of the previous consolidated fiscal year to ¥3,532 million. This was mainly because increases including ¥115 million in long-term borrowings from new financing exceeded decreases including ¥64 million in lease liabilities.」
Fixed liabilities increased from the end of the previous fiscal year, as the increase in long-term borrowings from new financing exceeded the decrease in lease liabilities. - FY2021-Q1MitigatedAnnual report
「Fixed liabilities decreased by ¥216 million from the end of the previous consolidated fiscal year to ¥3,267 million. This was mainly due to decreases of ¥177 million in long-term borrowings and ¥36 million in lease liabilities, resulting from repayments and other factors.」
Repayments of long-term borrowings and lease liabilities reduced fixed liabilities from the end of the previous fiscal year, narrowing the exposure to financial burden. - FY2020MaterialisedAnnual report
「The Group's interest-bearing debt ratio was 66.6% as of the end of the consolidated fiscal year ended February 2020. Although the commitment line agreement was terminated during the consolidated fiscal year because the Group breached its financial covenants, there was no outstanding balance drawn under the facility.」
The interest-bearing debt ratio rose from 49.7% in the previous fiscal year to 66.6%, and the commitment line agreement was terminated due to a breach of the financial covenants. - FY2020-Q3WorsenedAnnual report
「Fixed liabilities increased by ¥1,713 million from the end of the previous consolidated fiscal year to ¥3,660 million. This was mainly due to increases of ¥1,208 million in long-term borrowings from new financing and ¥465 million in lease liabilities resulting from the application of IFRS 16 Leases at overseas consolidated subsidiaries.」
Fixed liabilities increased by ¥1,713 million from the end of the previous fiscal year due to higher long-term borrowings and lease liabilities, indicating greater financial burden and exposure to interest-rate fluctuations. - FY2020-Q2WorsenedAnnual report
「Non-current liabilities increased by ¥1,516 million from the end of the previous consolidated fiscal year to ¥3,463 million. This was mainly due to increases of ¥971 million in long-term borrowings from new financing and ¥510 million in lease liabilities resulting from the adoption of IFRS 16 Leases by an overseas consolidated subsidiary, among other factors.」
Fixed liabilities increased due to higher long-term borrowings and lease liabilities, indicating greater financial burden and exposure to interest-rate fluctuations. - FY2020-Q1WorsenedAnnual report
「Non-current liabilities increased by ¥1,884 million from the end of the previous consolidated fiscal year to ¥3,830 million. This was mainly due to increases of ¥990 million in long-term borrowings from new financing and ¥552 million in lease liabilities resulting from the adoption of IFRS 16 Leases by an overseas consolidated subsidiary, among other factors.」
Long-term borrowings and lease liabilities increased from the end of the previous fiscal year, resulting in an ¥1,884 million increase in non-current liabilities. This represents greater exposure to interest-rate movements and financial burdens. - FY2019WorsenedAnnual report
「The Group's ratio of interest-bearing debt to total assets was 49.7% at the end of the consolidated fiscal year ending February 2019. Although the Group is working to reduce interest-bearing debt and improve its net financial income, an increase in interest-bearing debt or interest rates in the future could increase interest expense, affecting the Group's operating results and financial position.」
The ratio of interest-bearing debt to total assets rose from 24.8% in the previous fiscal year to 49.7%. The company states that it was not in breach of its financial covenants as of the filing date. - FY2018First statedAnnual report
「The ratio of interest-bearing debt to total assets was 24.8% at the end of the consolidated fiscal year ending February 2018. In addition, the commitment line agreement contains financial covenants requiring the company to maintain net assets above a certain level and not report ordinary losses for 2 consecutive fiscal years, among other conditions.」
The company discloses an interest-bearing debt ratio of 24.8% and financial covenants relating to maintaining net assets and avoiding ordinary losses, with the relevant figures and conditions specified.