Reliance on Interest-Bearing Debt and Interest-Rate Risk
First written in FY2016. 32 of 37 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-08-07.
The whole theme swung hardest in 2020: 64 of 142 companies on the "Worse" side.
- 2026-08-07WorsenedResults
「Short-term borrowings increased by ¥830 million」
Short-term borrowings increased by ¥830 million from the end of the previous fiscal year, indicating deterioration in the financial position relating to dependence on interest-bearing debt and interest-rate risk. - FY2026WorsenedAnnual report
「Interest-bearing debt currently accounts for approximately 44.1% of total assets, and the operating performance of the Group may be affected by future interest-rate fluctuations.」
Dependence on interest-bearing debt increased from approximately 39.9% to approximately 44.1%, while the outstanding balance of interest-bearing debt increased from ¥10,459 million to ¥13,710 million. - 2026-05-14WorsenedRevisions to earnings forecasts
「Current liabilities increased by ¥3.497 billion to ¥15.497 billion. This was mainly due to increases of ¥3.140 billion in short-term borrowings and ¥309 million in accrued income taxes and other liabilities.」
Current liabilities, including short-term borrowings, increased, while the equity ratio fell from 49.5% at the end of the previous fiscal year to 45.4%. - FY2026-H1WorsenedAnnual report
「Liabilities amounted to ¥15,445 million, an increase of ¥2,201 million from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥2,201 million from the end of the previous fiscal year, and short-term borrowings also increased by ¥1,800 million. The equity ratio declined from 49.5% to 46.0%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2025WorsenedAnnual report
「Interest-bearing debt currently accounts for approximately 39.9% of total assets, and the operating performance of the Group may be affected by future interest-rate fluctuations.」
Dependence on interest-bearing debt increased from approximately 39.0% in the previous fiscal year to approximately 39.9%, while the outstanding balance of interest-bearing debt increased from ¥9,940 million to ¥10,459 million. - FY2025-H1WorsenedAnnual report
「Liabilities amounted to ¥13,086 million, an increase of ¥337 million from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥337 million from the end of the previous consolidated fiscal year, and short-term borrowings also increased by ¥300 million. The equity ratio declined from 50.0% to 49.2%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2024-Q3WorsenedAnnual report
「Liabilities amounted to ¥13,521 million, an increase of ¥1,475 million from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥1,475 million from the end of the previous consolidated fiscal year, and short-term borrowings also increased by ¥531 million. The equity ratio declined from 50.2% to 48.1%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2024-Q2WorsenedAnnual report
「Liabilities amounted to ¥12,728 million, an increase of ¥682 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥339 million in notes and accounts payable and ¥331 million in short-term borrowings.」
Liabilities increased by ¥682 million from the end of the previous consolidated fiscal year, and short-term borrowings increased by ¥331 million, while the equity ratio also declined from 50.2% to 49.2%. - FY2024-Q1WorsenedAnnual report
「Current liabilities amounted to ¥11,274 million, an increase of ¥720 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥205 million in notes and accounts payable and ¥181 million in short-term borrowings.」
Current liabilities increased by ¥720 million and short-term borrowings by ¥181 million, while the equity ratio also declined from 50.2% to 48.7%. Deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations continues. - FY2023Dependence on interest-bearing debt declined while the equity ratio also declinedAnnual report
「Dependence on interest-bearing debt (%) 39.3 39.6 39.0」
Dependence on interest-bearing debt declined from 39.6% to 39.0%, and the outstanding balance of interest-bearing debt also decreased from ¥9,450 million to ¥9,433 million. Meanwhile, the equity ratio declined from 50.5% to 50.2%. - FY2023-Q3WorsenedAnnual report
「Current liabilities amounted to ¥11,067 million, an increase of ¥955 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥651 million in notes and accounts payable and ¥157 million in short-term borrowings.」
Current liabilities increased by ¥955 million and short-term borrowings by ¥157 million, while the equity ratio also declined from 50.5% to 48.7%. This describes deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2023-Q2WorsenedAnnual report
「Current liabilities amounted to ¥10,676 million, an increase of ¥564 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥277 million in notes and accounts payable and ¥176 million in short-term borrowings.」
Current liabilities increased by ¥564 million from the end of the previous consolidated fiscal year, and short-term borrowings increased by ¥176 million. The equity ratio also declined from 50.5% to 49.3%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2023-Q1WorsenedAnnual report
「Current liabilities amounted to ¥10,666 million, an increase of ¥554 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥113 million in notes and accounts payable and ¥300 million in short-term borrowings.」
Current liabilities increased by ¥554 million and short-term borrowings by ¥300 million, while the equity ratio also declined from 50.5% to 49.2%. The financial position deteriorated in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2022WorsenedAnnual report
「Interest-bearing debt currently accounts for approximately 39.6% of total assets, and the operating performance of the Group may be affected by future interest-rate fluctuations.」
Dependence on interest-bearing debt increased from approximately 39.3% in the previous fiscal year to approximately 39.6%. Short-term borrowings also increased from ¥8,360 million to ¥8,670 million. - FY2022-Q3WorsenedAnnual report
「Current liabilities amounted to ¥10,600 million, an increase of ¥747 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥466 million in notes and accounts payable and ¥310 million in short-term borrowings.」
Current liabilities increased by ¥747 million and short-term borrowings by ¥310 million. The equity ratio also declined from 50.7% to 49.3%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2022-Q2WorsenedAnnual report
「Liabilities amounted to ¥12,106 million, an increase of ¥459 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥207 million in notes and accounts payable and ¥330 million in short-term borrowings.」
Liabilities increased by ¥459 million from the end of the previous consolidated fiscal year, and short-term borrowings also increased by ¥330 million. The equity ratio declined from 50.7% to 49.6%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2022-Q1WorsenedAnnual report
「Liabilities amounted to ¥12,217 million, an increase of ¥570 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥261 million in notes and accounts payable and ¥310 million in short-term borrowings.」
Liabilities increased by ¥570 million from the end of the previous consolidated fiscal year, and short-term borrowings increased by ¥310 million. The equity ratio also declined from 50.7% to 49.2%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2021WorsenedAnnual report
「Interest-bearing debt currently accounts for approximately 39.3% of total assets, and the operating performance of the Group may be affected by future interest-rate fluctuations.」
Dependence on interest-bearing debt increased from approximately 38.6% in the previous fiscal year to approximately 39.3%. Although the outstanding balance of borrowings decreased, dependence relative to total assets worsened. - FY2021-Q3WorsenedAnnual report
「Liabilities totaled ¥12,741 million, an increase of ¥935 million from the end of the previous consolidated fiscal year. This was mainly attributable to increases of ¥376 million in notes and accounts payable and ¥412 million in short-term borrowings.」
Liabilities increased by ¥935 million, short-term borrowings by ¥412 million and long-term borrowings by ¥113 million. The equity ratio also declined from 51.0% to 48.3%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2021-Q2WorsenedAnnual report
「Liabilities amounted to ¥12,247 million, an increase of ¥442 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥405 million in short-term borrowings.」
Liabilities increased by ¥442 million from the end of the previous consolidated fiscal year, while short-term borrowings increased by ¥405 million and long-term borrowings by ¥142 million. The equity ratio also declined from 51.0% to 49.0%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2021-Q1WorsenedAnnual report
「This was due to an increase of ¥355 million in short-term borrowings and a decrease of ¥359 million in notes and accounts payable.」
Although total liabilities declined slightly, the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations deteriorated because short-term borrowings increased by ¥355 million and the equity ratio also declined. - FY2020WorsenedAnnual report
「Interest-bearing debt currently accounts for approximately 38.6% of total assets, and the operating performance of the Group may be affected by future interest-rate fluctuations.」
Dependence on interest-bearing debt increased from approximately 37.4% in the previous fiscal year to approximately 38.6%. Although the outstanding balance of borrowings decreased, dependence worsened because total assets declined. - FY2020-Q3WorsenedAnnual report
「Current liabilities amounted to ¥10,403 million, an increase of ¥260 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥113 million in notes and accounts payable and ¥75 million in short-term borrowings.」
Current liabilities increased by ¥260 million, and short-term borrowings also increased by ¥75 million. The equity ratio declined from 50.5% to 50.0%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2020-Q2WorsenedAnnual report
「Liabilities amounted to ¥12,612 million, an increase of ¥205 million from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥205 million from the end of the previous consolidated fiscal year, and short-term borrowings also increased by ¥128 million. The equity ratio declined from 50.5% to 50.0%. - FY2020-Q1WorsenedAnnual report
「Liabilities amounted to ¥12,693 million, an increase of ¥286 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥130 million in notes and accounts payable and ¥154 million in short-term borrowings.」
Liabilities increased by ¥286 million from the end of the previous consolidated fiscal year, and short-term borrowings also increased by ¥154 million. The equity ratio declined from 50.5% to 49.4%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2019WorsenedAnnual report
「Interest-bearing debt currently accounts for approximately 37.4% of total assets, and the operating performance of the Group may be affected by future interest-rate fluctuations.」
Dependence on interest-bearing debt increased from approximately 36.7% in the previous fiscal year to approximately 37.4%, while interest-bearing debt increased from ¥9,246 million to ¥9,356 million. - FY2019-Q3WorsenedAnnual report
「Liabilities totaled ¥12,710 million, an increase of ¥541 million from the end of the previous consolidated fiscal year. This was mainly attributable to increases of ¥454 million in notes and accounts payable and ¥322 million in short-term borrowings, and a decrease of ¥58 million in income taxes payable, among other factors.」
Liabilities increased by ¥541 million from the end of the previous fiscal year, and short-term borrowings also increased by ¥322 million. The equity ratio declined from 51.7% to 50.1%, indicating deterioration in the financial position in terms of dependence on interest-bearing debt and exposure to interest-rate fluctuations. - FY2019-Q2MitigatedAnnual report
「This was mainly due to a decrease of ¥174 million in short-term borrowings, among other factors.」
Short-term borrowings decreased by ¥174 million and long-term borrowings by ¥57 million, while total liabilities also decreased by ¥181 million from the end of the previous consolidated fiscal year. The financial dependence indicators show an equity ratio of 51.6%. - FY2018RestatedAnnual report
「Interest-bearing debt currently accounts for approximately 36.7% of total assets, and our group’s financial performance may be affected by future changes in interest rates.」
The ratio of interest-bearing debt to total assets was approximately 36.7%, unchanged from the previous period, and it continues to describe the risk from interest rate fluctuations. - FY2018-Q3WorsenedAnnual report
「Liabilities totaled ¥12,824 million, an increase of ¥503 million from the end of the previous consolidated fiscal year. This was mainly attributable to increases of ¥476 million in notes and accounts payable and ¥202 million in short-term borrowings, and a decrease of ¥53 million in the provision for bonuses, among other factors.」
Liabilities and short-term borrowings increased from the end of the previous consolidated fiscal year, while the equity ratio declined from 51.4% to 50.5%. It describes deterioration in the financial position with respect to dependence on interest-bearing debt and interest rate risk. - FY2018-Q2WorsenedAnnual report
「Liabilities were ¥1,279.7 million, an increase of ¥475 million from the end of the previous consolidated fiscal year. Current liabilities were ¥1,077.2 million, an increase of ¥513 million. This was mainly due to an increase of ¥371 million in short-term borrowings, among other factors.」
Liabilities increased by ¥475 million from the end of the previous consolidated fiscal year, and short-term borrowings also increased by ¥371 million. The equity ratio declined from 51.4% to 50.2%, indicating deterioration in the financial position with respect to dependence on interest-bearing debt and interest rate risk. - FY2018-Q1WorsenedAnnual report
「Liabilities were ¥1,260.4 million, an increase of ¥282 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥90 million in notes and accounts payable and ¥305 million in short-term borrowings, partly offset by a ¥51 million decrease in the provision for bonuses.」
Liabilities increased by ¥282 million from the end of the previous consolidated fiscal year, and short-term borrowings also increased by ¥305 million. The equity ratio declined from 51.4% to 50.6%, indicating a further deterioration in the financial position with respect to dependence on interest-bearing debt and interest rate risk. - FY2017WorsenedAnnual report
「Interest-bearing debt currently accounts for approximately 36.7% of total assets, and our group’s financial performance may be affected by future changes in interest rates.」
Interest-bearing debt increased from ¥9,215 million in the previous period to ¥9,320 million, while the ratio of interest-bearing debt to total assets rose from 36.3% to 36.7%. - FY2017-Q3WorsenedAnnual report
「Equity ratio (%) 51.5 48.5 51.7」
The equity ratio was 48.5% at the end of the third quarter, down from 51.7% at the end of the previous consolidated fiscal year and 50.7% at the end of the second quarter. Short-term borrowings also increased by ¥946 million from the end of the previous consolidated fiscal year. - FY2017-Q2RestatedAnnual report
「Equity ratio (%) 56.0 50.7 51.7」
The equity ratio was 50.7% at the end of the second quarter, below 51.7% at the end of the previous consolidated fiscal year. Liabilities were ¥1,249.6 million and short-term borrowings were ¥783.8 million, and it continues to disclose its financial dependence on debt. - FY2017-Q1WorsenedAnnual report
「Equity ratio (%) 55.4 50.1 51.7」
The equity ratio was 50.1% at the end of the first quarter, down from 51.7% at the end of the previous consolidated fiscal year. Short-term borrowings increased by ¥237 million and total liabilities increased by ¥517 million. - FY2016First statedAnnual report
「Interest-bearing debt currently accounts for approximately 36.3% of total assets, and our group’s financial performance may be affected by future changes in interest rates.」
It disclosed the ratio of interest-bearing debt to total assets as 26.7% for the fiscal year ended March 2014, 31.0% for the fiscal year ended March 2015 and 36.3% for the fiscal year ended March 2016, and explained the risk from interest rate fluctuations.