Expansion of Operating Cash Flow, Reduction of Interest-Bearing Debt, and Improvement in Equity Ratio
First written in FY2016. 23 of 34 entries say "Worsened", first in FY2018-Q1. Latest entry: 2026-08-07.
Nagahori moved to the "Worse" side of this theme in 2019, 3 years before the typical company in this theme (2022).
The whole theme swung hardest in 2017: 2 of 21 companies on the "Worse" side.
4 other companies' latest entry also says "Worsened".
- 2026-08-07WorsenedResults
「The equity ratio fell from 45.4% at the end of the previous consolidated fiscal year to 44.3%.」
The equity ratio fell from 45.4% to 44.3%. Short-term borrowings also increased by ¥8.330 billion. - FY2026WorsenedAnnual report
「Cash used in operating activities amounted to ¥968 million, compared with ¥972 million used in the previous fiscal year.」
While operating cash outflows narrowed slightly from the previous fiscal year, the equity ratio declined from 49.5% to 45.4%, and interest-bearing debt increased from ¥10,459 million to ¥13,710 million. The deterioration of the financial base continues relative to the targets of expanding operating cash flow, reducing liabilities and improving the equity ratio. - 2026-05-14OtherRevisions to earnings forecasts
「Cash used in operating activities amounted to ¥968 million, compared with ¥972 million used in the previous fiscal year.」
Cash outflow from operating activities continued, but decreased by ¥4 million from the previous fiscal year. - FY2026-H1WorsenedAnnual report
「Cash outflows from operating activities were ¥845 million (compared with outflows of ¥212 million in the same period of the previous year).」
Cash outflows from operating activities increased from ¥212 million in the same period of the previous year to ¥845 million. In addition, the equity ratio declined from 49.5% at the end of the previous fiscal year to 46.0%, while short-term borrowings increased by ¥1.8 billion. - FY2025WorsenedAnnual report
「Cash outflows from operating activities were ¥972 million (compared with outflows of ¥515 million in the previous fiscal year).」
Operating cash outflows increased from ¥515 million in the previous fiscal year to ¥972 million. Short-term borrowings also increased by ¥650 million, and the equity ratio declined from 50.0% to 49.5%. Financial conditions deteriorated relative to the targets of expanding operating cash flow, reducing liabilities and improving the equity ratio. - FY2025-H1Operating cash outflows narrowed, while liabilities increased and the equity ratio declinedAnnual report
「Cash outflows from operating activities were ¥212 million (compared with outflows of ¥487 million in the same period of the previous year).」
While cash outflows from operating activities narrowed from the same period of the previous year, liabilities increased by ¥337 million from the end of the previous consolidated fiscal year, and the equity ratio declined from 50.0% to 49.2%. - FY2024-Q3WorsenedAnnual report
「Current liabilities were ¥12.2 billion, an increase of ¥1,646 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥948 million in notes and accounts payable and ¥531 million in short-term borrowings.」
Current liabilities increased by ¥1,646 million from the end of the previous consolidated fiscal year, while short-term borrowings increased by ¥531 million. The equity ratio also declined from 50.2% at the end of the previous consolidated fiscal year to 48.1%, indicating a deterioration in financial conditions relative to the targets of expanding operating cash flow, reducing interest-bearing debt and improving the equity ratio. - FY2024-Q2WorsenedAnnual report
「Cash used in operating activities was ¥487 million, compared with an outflow of ¥375 million in the same period of the previous year.」
Cash outflows from operating activities increased from ¥375 million in the same period of the previous year to ¥487 million. Liabilities increased by ¥682 million from the end of the previous consolidated fiscal year, while the equity ratio declined from 50.2% to 49.2%. - FY2024-Q1WorsenedAnnual report
「Liabilities totaled ¥12,739 million, an increase of ¥693 million from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥693 million from the end of the previous consolidated fiscal year, while short-term borrowings also increased by ¥181 million. The equity ratio declined from 50.2% to 48.7%, indicating deterioration in financial metrics against the targets of expanding operating cash flow, reducing liabilities and improving the equity ratio. - FY2023Operating cash flow deficit coexisting with improved financial metricsAnnual report
「Cash used in operating activities was ¥20 million, compared with inflow of ¥670 million in the previous fiscal year.」
Operating cash flow deteriorated from inflow of ¥670 million in the previous fiscal year to an outflow of ¥20 million. Meanwhile, dependence on interest-bearing debt declined from 39.6% to 39.0%, but the equity ratio also declined from 50.5% to 50.2%. - FY2023-Q3WorsenedAnnual report
「Liabilities totaled ¥12,686 million, an increase of ¥882 million from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥882 million from the end of the previous consolidated fiscal year, while short-term borrowings also increased by ¥157 million. The equity ratio declined from 50.5% to 48.7%, indicating deterioration in the financial position against the targets of expanding operating cash flow, reducing interest-bearing debt and improving the equity ratio. - FY2023-Q2WorsenedAnnual report
「Cash used in operating activities was ¥375 million, compared with ¥362 million generated in the same period of the previous year.」
Operating cash flow deteriorated from ¥362 million generated in the same period of the previous year to an outflow of ¥375 million. The equity ratio also declined from 50.5% at the end of the previous consolidated fiscal year to 49.3%, indicating deterioration against the financial improvement target. - FY2023-Q1WorsenedAnnual report
「Liabilities totaled ¥12,328 million, an increase of ¥324 million from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥524 million from the end of the previous consolidated fiscal year, while the equity ratio also declined from 50.5% to 49.2%. The financial position deteriorated against the targets of expanding operating cash flow, reducing interest-bearing debt and improving the equity ratio. - FY2022WorsenedAnnual report
「Dependence on interest-bearing debt (%) 38.6 39.3 39.6」
Dependence on interest-bearing debt rose from 39.3% in the previous fiscal year to 39.6%, and interest-bearing debt increased from ¥9,267 million to ¥9,450 million. Operating cash flow declined from ¥903 million to ¥670 million, indicating deterioration against the financial improvement target. - FY2022-Q3WorsenedAnnual report
「Liabilities totaled ¥12,318 million, an increase of ¥671 million from the end of the previous consolidated fiscal year. This was mainly attributable to increases of ¥466 million in notes and accounts payable and ¥310 million in short-term borrowings.」
Liabilities increased by ¥671 million from the end of the previous consolidated fiscal year, while short-term borrowings also increased by ¥310 million. The equity ratio declined from 50.7% at the end of the previous fiscal year to 49.3%, indicating deterioration in the financial position against the targets of expanding operating cash flow, reducing interest-bearing debt and improving the equity ratio. - FY2022-Q2Improved operating cash flow coexisting with higher liabilities and a lower equity ratioAnnual report
「Cash generated from operating activities was ¥362 million, compared with ¥224 million generated in the same period of the previous year.」
Operating cash flow improved from ¥224 million in the same period of the previous year to ¥362 million. Meanwhile, the equity ratio declined from 50.7% at the end of the previous consolidated fiscal year to 49.6%, liabilities increased by ¥459 million, and short-term borrowings increased by ¥330 million. The company is also working to control purchasing and expense outlays. - FY2022-Q1WorsenedAnnual report
「Equity ratio (%) 50.1 49.2 50.7」
The equity ratio declined to 49.2% at the end of the first quarter, from 50.1% in the same period of the previous year and 50.7% at the end of the previous consolidated fiscal year. Liabilities also increased by ¥570 million from the end of the previous consolidated fiscal year, indicating deterioration against the financial improvement target. - FY2021Improved operating cash flow coexisting with higher dependence on interest-bearing debtAnnual report
「Cash generated from operating activities was ¥903 million, compared with inflow of ¥704 million in the previous fiscal year.」
Operating cash flow increased from ¥704 million in the previous fiscal year to ¥903 million, while dependence on interest-bearing debt rose from 38.6% to 39.3% and the equity ratio declined from 51.0% to 50.7%. - 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 from the end of the previous consolidated fiscal year, while the equity ratio also declined from 51.0% to 48.3%. The financial position deteriorated against the targets of reducing interest-bearing debt and improving the equity ratio. - FY2021-Q2Improved operating cash flow coexisting with higher borrowings and a lower equity ratioAnnual report
「Cash generated from operating activities was ¥224 million, compared with an outflow of ¥307 million in the same period of the previous year.」
Cash flow from operating activities improved from an outflow of ¥307 million in the same period of the previous year to inflow of ¥224 million. Meanwhile, short-term borrowings increased by ¥405 million and long-term borrowings by ¥142 million, while the equity ratio declined from 51.0% at the end of the previous consolidated fiscal year to 49.0%. - FY2021-Q1WorsenedAnnual report
「Equity ratio (%) 49.4 50.1 51.0」
The equity ratio declined from 51.0% at the end of the previous consolidated fiscal year to 49.4% at the end of the first quarter. Short-term borrowings also increased by ¥355 million, indicating deterioration against the financial improvement target. - FY2020Improved operating cash flow and lower borrowings coexisting with higher dependence on interest-bearing debtAnnual report
「Cash generated from operating activities was ¥704 million, compared with an outflow of ¥181 million in the previous fiscal year.」
Operating cash flow improved from an outflow of ¥181 million in the previous fiscal year to inflow of ¥704 million, and short-term borrowings also declined by ¥84 million. Meanwhile, dependence on interest-bearing debt rose from 37.4% to 38.6%. - FY2020-Q3WorsenedAnnual report
「Liabilities totaled ¥12,573 million, an increase of ¥166 million from the end of the previous consolidated fiscal year.」
Liabilities increased by ¥166 million from the end of the previous consolidated fiscal year, while the equity ratio also declined from 50.5% to 50.0%. The financial position deteriorated against the targets of expanding operating cash flow, reducing interest-bearing debt and improving the equity ratio. - FY2020-Q2WorsenedAnnual report
「Cash used in operating activities was ¥307 million, compared with an outflow of ¥297 million in the same period of the previous year.」
The operating cash flow outflow widened from ¥297 million in the same period of the previous year to ¥307 million. The equity ratio also declined from 50.5% at the end of the previous consolidated fiscal year to 50.0%, indicating continued deterioration against the financial improvement target. - FY2020-Q1WorsenedAnnual report
「Equity ratio (%) 51.4 49.4 50.5」
The equity ratio at the end of the first quarter was 49.4%, down from 50.5% at the end of the previous consolidated fiscal year. Liabilities also increased by ¥286 million, indicating deterioration against the targets of expanding operating cash flow and improving financial metrics. - FY2019WorsenedAnnual report
「Cash used in operating activities was ¥181 million, compared with inflow of ¥722 million in the previous fiscal year.」
Operating cash flow deteriorated from inflow of ¥722 million in the previous fiscal year to an outflow of ¥181 million. The equity ratio also declined from 51.7% to 50.5%, dependence on interest-bearing debt rose from 36.7% to 37.4%, and interest-bearing debt increased from ¥9,320 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.」
Against the targets of expanding operating cash flow, reducing interest-bearing debt and improving the equity ratio, liabilities increased by ¥541 million, short-term borrowings increased by ¥322 million, and the equity ratio declined from 51.7% at the end of the previous fiscal year to 50.1%. - FY2019-Q2Deteriorating operating cash flow coexisting with lower borrowingsAnnual report
「Cash used in operating activities was ¥297 million, compared with an outflow of ¥92 million in the same period of the previous year.」
The operating cash flow outflow widened from ¥92 million in the same period of the previous year to ¥297 million. Meanwhile, short-term borrowings declined by ¥174 million and long-term borrowings by ¥57 million, while the equity ratio was 51.6%, down from 51.7% at the end of the previous consolidated fiscal year. - FY2018AdvancedAnnual report
「Cash generated from operating activities was ¥722 million, compared with inflow of ¥238 million in the previous fiscal year.」
Operating cash flow increased from ¥238 million in the previous fiscal year to ¥722 million. The equity ratio also improved from 51.4% to 51.7%, while interest-bearing debt declined from ¥9,320 million to ¥9,246 million. - 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 increased by ¥503 million from the end of the previous consolidated fiscal year, while short-term borrowings also increased by ¥202 million. The equity ratio declined from 51.4% to 50.5%, indicating deterioration in the financial position against the targets of reducing interest-bearing debt and improving the equity ratio. - FY2018-Q2WorsenedAnnual report
「Cash used in operating activities was ¥92 million, compared with an outflow of ¥51 million in the same period of the previous year.」
The operating cash flow outflow widened from ¥51 million in the same period of the previous year to ¥92 million. The equity ratio also declined from 51.4% at the end of the previous consolidated fiscal year to 50.2%, indicating continued deterioration against the targets of expanding cash flow and improving financial metrics. - FY2018-Q1WorsenedAnnual report
「Equity ratio (%) 50.1 50.6 51.4」
The equity ratio at the end of the first quarter was 50.6%, down from 51.4% at the end of the previous consolidated fiscal year. Short-term borrowings also increased by ¥305 million from the end of the previous consolidated fiscal year, indicating continued deterioration in financial metrics against the targets of improving the equity ratio and reducing interest-bearing debt. - FY2017Improved operating cash flow coexisting with deteriorating financial metricsAnnual report
「Cash generated from operating activities was ¥238 million, compared with an outflow of ¥291 million in the previous fiscal year.」
Operating cash flow improved from an outflow of ¥291 million in the previous fiscal year to an inflow of ¥238 million. Meanwhile, dependence on interest-bearing debt rose from 36.3% to 36.7%, and the equity ratio declined from 51.7% to 51.4%. - FY2016First statedAnnual report
「The company aims to improve profitability across the Group's businesses and expand operating cash flow through greater inventory efficiency, while reducing interest-bearing debt and improving the equity ratio.」
The target is to expand operating cash flow and improve debt and the capital structure through improved profitability and greater inventory efficiency.