Risks from interest rate fluctuations and financing constraints
First written in FY2016. 18 of 33 entries say "Restated". Latest entry: 2026-08-04.
Kanematsu moved to the "Worse" side of this theme in 2022, 3 years before the typical company in this theme (2025).
The whole theme swung hardest in 2022: 4 of 26 companies on the "Worse" side.
5 other companies' latest entry also says "Worsened".
- 2026-08-04WorsenedEarnings
「Interest-bearing debt increased by ¥7.858 billion from the end of the previous consolidated fiscal year to ¥162.705 billion. Net interest-bearing debt, after deducting cash and cash equivalents, increased by ¥14.509 billion to ¥109.122 billion.」
Interest-bearing debt and net interest-bearing debt increased from the end of the previous consolidated fiscal year, expanding exposure to interest-rate and financing risks. - FY2026MitigatedAnnual report
「The impact on profit before tax of a 1% rise in interest rates is as follows. Profit before tax: △1,138.」
The impact on profit before tax of a 1% rise in interest rates narrowed from △¥1,346 million in the previous year to △¥1,138 million. Interest-bearing debt also decreased. - FY2026-H1MitigatedAnnual report
「Interest-bearing debt decreased by ¥1,054.6 million from the end of the previous consolidated fiscal year to ¥16,835.5 million. Net interest-bearing debt, after deducting cash and cash equivalents, decreased by ¥797.2 million to ¥11,236.4 million. Interest-bearing debt does not include lease liabilities. As a result, the equity attributable to owners of the parent ratio was 28.3%, and the net interest-bearing debt-to-equity ratio (net DER) was 0.59 times.」
Interest-bearing debt and net interest-bearing debt decreased from the end of the previous year, and net DER declined from 0.69 times to 0.59 times. Exposure to interest rate and financing risks has decreased. - FY2025MitigatedAnnual report
「The impact on profit before tax of a 1% rise in interest rates is as follows. Profit before tax: △1,346.」
The impact on profit before tax of a 1% rise in interest rates narrowed from △¥1,663 million in the previous year to △¥1,346 million. Interest-bearing debt and net interest-bearing debt also decreased. - FY2025-H1MitigatedAnnual report
「Interest-bearing debt decreased by ¥2,123 million from the end of the previous consolidated fiscal year to ¥19,331.6 million. Net interest-bearing debt, after deducting cash and cash equivalents, decreased by ¥2,074.4 million to ¥13,868.1 million.」
Interest-bearing debt and net interest-bearing debt decreased from the end of the previous consolidated fiscal year, reducing exposure to interest rate and financing risks. - FY2024-Q3MaterialisedAnnual report
「Profit before tax for the quarter decreased by ¥538 million, or 1.9%, year on year to ¥27,880 million, mainly due to the deterioration in net finance income and impairment losses on investments accounted for using the equity method.」
The deterioration in net finance income was a factor behind the decline in profit before tax for the quarter. Finance costs increased from ¥2,619 million in the same period of the previous year to ¥4,824 million, while interest expense increased from ¥2,611 million to ¥4,658 million. - FY2024-Q2MaterialisedAnnual report
「Although operating profit increased, net finance income deteriorated. As a result, profit before tax for the quarter decreased by ¥1,009 million, or 4.7%, year on year to ¥20,373 million, while quarterly profit attributable to owners of the parent increased by ¥127 million, or 1.0%, to ¥12,339 million.」
The deterioration in net finance income was a factor behind the ¥1,009 million year-on-year decline in profit before tax for the quarter, reflecting the impact of interest rates and financing costs in actual results. - FY2024-Q1MaterialisedAnnual report
「Profit before tax for the quarter decreased by ¥485 million, or 5.2%, year on year to ¥8,872 million, mainly due to an increase in interest expense.」
Higher interest expense was a factor behind the decline in profit before tax for the quarter, reflecting the impact of interest rates and financing costs in actual results. - FY2023WorsenedAnnual report
「The impact on profit before tax of a 1% rise in interest rates on financial instruments held by the group at the end of the consolidated fiscal year is as follows. Profit before tax: △1,925.」
The impact on profit before tax of a 1% rise in interest rates increased from △¥980 million in the previous year to △¥1,925 million. The increase in borrowings to fund the tender offer and other purposes is also disclosed. - FY2022WorsenedAnnual report
「The impact on profit before tax of a 1% rise in interest rates is as follows. Profit before tax: △980.」
The impact on profit before tax of a 1% rise in interest rates increased from △¥808 million in the previous year to △¥980 million. Mitigation through interest rate swaps has continued. - FY2022-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended [the current third quarter]. There have also been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2022-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2021-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2021-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2020-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended [the current third quarter]. There have also been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2020-Q2RestatedAnnual report
「No new business or other risks arose during the first half of the current consolidated fiscal year. In addition, no material changes have occurred in the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2020-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2019WorsenedAnnual report
「The impact on profit before tax of a 1% rise in interest rates on financial instruments held by the consolidated group at the end of the consolidated fiscal year is as follows. Profit before tax: △¥883 million.」
The impact on profit before tax of a 1% rise in interest rates increased from △¥779 million in the previous year to △¥883 million. Mitigation through interest rate swap transactions has continued. - FY2019-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2019-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2019-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2018WorsenedAnnual report
「The impact on profit before tax of a 1% rise in interest rates on financial instruments held by the consolidated group at the end of the consolidated fiscal year is as follows.」
The impact on profit before tax of a 1% rise in interest rates was ¥779 million, up from ¥758 million in the previous year. Interest rate swaps are used for variable-rate borrowings. - FY2018-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2018-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2018-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2017RestatedAnnual report
「These borrowings are exposed to interest rate risk, and interest expense may increase if interest rates rise. The Company and certain consolidated subsidiaries use interest rate swap transactions to avoid interest rate risk on borrowings.」
The risk of higher interest expense from variable-rate borrowings and the use of interest rate swaps to address it have been reconfirmed. - FY2017-Q3RestatedAnnual report
「No new business or other risks arose during the nine months ended 31 December. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2017-Q2RestatedAnnual report
「No new business or other risks arose during the six months ended 30 September. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2017-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
No new developments or significant changes have been identified concerning the risks from interest rate movements and financing constraints. - FY2016First statedAnnual report
「These borrowings are exposed to interest rate risk, and interest expense may increase if interest rates rise.」
Some borrowings carry variable interest rates. The group manages this risk through interest rate swaps, cash holdings and ¥12,500 million in unused committed credit lines. The impact on profit before tax of a 1% rise in interest rates is △¥749 million.