Higher borrowing costs due to rising interest rates
First written in FY2017. 32 of 33 entries say "Worsened", first in FY2018. Latest entry: FY2027-H1.
The whole theme swung hardest in 2025: 30 of 96 companies on the "Worse" side.
- FY2027-H1WorsenedAnnual report
「Liabilities increased by ¥68.852 billion from the end of the previous consolidated fiscal year to ¥13.234243 trillion (100.5% of that balance). The main factors behind the increase included increases of ¥116.410 billion in bonds, including bonds due within one year, and ¥99.324 billion in short-term borrowings, partly offset by a ¥156.878 billion decrease in notes and accounts payable.」
Regarding the risk of higher borrowing costs due to rising interest rates, bonds and short-term borrowings increased, bringing liabilities to ¥13.234243 trillion. - FY2026WorsenedAnnual report
「As of the end of the current consolidated fiscal year, the Group had ¥4.4654 trillion in interest-bearing liabilities, including bonds and borrowings, equivalent to 29.1% of total assets.」
Interest-bearing liabilities and other debt increased from ¥3.8444 trillion in the previous fiscal year to ¥4.4654 trillion, expanding exposure to borrowing costs when interest rates rise. - FY2026-H1WorsenedAnnual report
「Liabilities increased by ¥783.008 billion from the end of the previous consolidated fiscal year to ¥12.481055 trillion (106.7% of the previous-year-end level). The main factors behind the increase were increases of ¥323.059 billion in notes and accounts payable—trade, ¥308.460 billion in deposits in the banking business, and ¥135.928 billion in long-term borrowings (including current maturities of long-term borrowings), among others.」
Liabilities increased to ¥12.481055 trillion, expanding exposure to funding costs and rising interest rates, including long-term borrowings. - FY2025WorsenedAnnual report
「As of the end of the current consolidated fiscal year, the Group had ¥3.8444 trillion in interest-bearing liabilities, including bonds and borrowings, equivalent to 27.8% of total assets.」
Interest-bearing liabilities and other debt totaled ¥3.8444 trillion, or 27.8% of total assets, disclosing exposure to borrowing costs when interest rates rise. - FY2025-H1WorsenedAnnual report
「Liabilities increased by ¥840.012 billion from the end of the previous consolidated fiscal year to ¥11.693680 trillion (107.7% of the previous-year-end level). The main factors behind the increase were increases of ¥325.423 billion in deposits in the banking business, ¥285.126 billion in notes and accounts payable—trade, ¥257.173 billion in long-term borrowings (including current maturities of long-term borrowings), and ¥19.637 billion in bonds (including bonds due for redemption within one year), among others.」
Liabilities increased to ¥11.693680 trillion, expanding exposure to funding costs when interest rates rise, including long-term borrowings and bonds. - FY2025-Q1WorsenedAnnual report
「Liabilities increased by ¥156.695 billion from the end of the previous consolidated fiscal year to ¥11.010363 trillion (101.4% of the previous-year-end level). The main factors behind the increase were an increase of ¥283.944 billion in long-term borrowings (including current maturities of long-term borrowings), ¥50.728 billion in notes and accounts payable—trade, and ¥30.267 billion in deposits in the banking business, while commercial paper decreased by ¥118.330 billion and short-term borrowings decreased by ¥86.476 billion, among others.」
Liabilities, including long-term borrowings, increased, expanding the items exposed to funding costs when interest rates rise. - FY2024-Q3WorsenedAnnual report
「Liabilities increased by ¥559.813 billion from the end of the previous consolidated fiscal year to ¥10.931104 trillion (105.4% of the previous-year-end level). The main factors behind the increase were increases of ¥105.618 billion in notes and accounts payable—trade, ¥83.834 billion in deposits in the banking business, ¥83.757 billion in long-term borrowings (including current maturities of long-term borrowings), and ¥49.144 billion in short-term borrowings, among others.」
Liabilities increased, and items exposed to funding costs when interest rates rise expanded, including ¥83.757 billion in long-term borrowings and ¥49.144 billion in short-term borrowings. - FY2024-Q2WorsenedAnnual report
「Liabilities increased by ¥324.077 billion from the end of the previous consolidated fiscal year to ¥10.695367 trillion (103.1% of the previous-year-end level). The main factors behind the increase were increases of ¥108.943 billion in deposits in the banking business, ¥59.378 billion in notes and accounts payable—trade, ¥56.441 billion in long-term borrowings (including current maturities of long-term borrowings), and ¥26.283 billion in bonds (including bonds due for redemption within one year), among others.」
Liabilities increased by ¥324.077 billion from the previous fiscal year-end, expanding exposure to funding costs when interest rates rise, including long-term borrowings and bonds. - FY2024-Q1WorsenedAnnual report
「Liabilities increased by ¥208.493 billion from the end of the previous consolidated fiscal year to ¥10,579.783 billion, or 102.0% of the previous year-end level. The main factors behind the increase were increases of ¥53.025 billion in notes and accounts payable, ¥46.022 billion in long-term borrowings, including long-term borrowings due for repayment within one year, and ¥39.517 billion in commercial paper.」
Liabilities increased, expanding exposure to interest and funding costs, including those associated with long-term borrowings and commercial paper. - FY2023-Q3WorsenedAnnual report
「The main factors behind the increase from the end of the previous consolidated fiscal year were increases of ¥130.658 billion in notes and accounts payable, ¥153.488 billion in deposits in the banking business, ¥205.339 billion in short-term borrowings and ¥134.007 billion in long-term borrowings, including long-term borrowings due for repayment within one year.」
Short-term borrowings increased by ¥205.339 billion and long-term borrowings and other liabilities by ¥134.007 billion, expanding the liability items exposed to funding and interest-rate risks. - FY2023-Q1WorsenedAnnual report
「The main factors behind the increase from the end of the previous consolidated fiscal year were increases of ¥68.009 billion in notes and accounts payable, ¥118.795 billion in short-term borrowings and ¥93.711 billion in long-term borrowings, including long-term borrowings due for repayment within one year.」
Short-term borrowings increased by ¥118.795 billion and long-term borrowings and other liabilities by ¥93.711 billion, expanding the liability items exposed to funding and interest-rate risks. - FY2022WorsenedAnnual report
「As of the end of February 2022, the Group had ¥3,290.9 billion in interest-bearing debt, including bonds and borrowings.」
Interest-bearing debt and other liabilities increased from ¥3,145.7 billion in the previous fiscal year to ¥3,290.9 billion, increasing exposure to borrowing costs when interest rates rise. - FY2022-Q3WorsenedAnnual report
「The main factors behind the increase from the end of the previous consolidated fiscal year were increases of ¥109.644 billion in short-term borrowings, ¥63.747 billion in bonds, including bonds due for redemption within one year, and ¥54.752 billion in commercial paper, partly offset by decreases of ¥56.160 billion in notes and accounts payable and ¥13.419 billion in long-term borrowings, including long-term borrowings due for repayment within one year.」
Short-term borrowings, bonds and commercial paper increased, expanding the items exposed to funding costs when interest rates rise. - FY2022-Q2WorsenedAnnual report
「Short-term borrowings increased by ¥61.257 billion, and bonds, including bonds due for redemption within one year, increased by ¥23.460 billion.」
While long-term borrowings and other liabilities declined, short-term borrowings and bonds increased, expanding the items exposed to funding costs when interest rates rise. - FY2022-Q1WorsenedAnnual report
「Short-term borrowings increased by ¥121.278 billion, bonds, including bonds due for redemption within one year, by ¥20.944 billion, and long-term borrowings, including long-term borrowings due for repayment within one year, by ¥15.425 billion.」
Compared with the end of the previous consolidated fiscal year, short-term borrowings, bonds and long-term borrowings increased, expanding the items exposed to funding costs when interest rates rise. - FY2021WorsenedAnnual report
「As of the end of February 2021, the Group had ¥3,145.7 billion in interest-bearing debt, including bonds and borrowings.」
Interest-bearing debt and other liabilities increased from ¥3,006.6 billion in the previous fiscal year to ¥3,145.7 billion, increasing exposure to borrowing costs when interest rates rise. - FY2021-Q3WorsenedAnnual report
「Liabilities increased by ¥325.899 billion from the end of the previous consolidated fiscal year to ¥9,539.306 billion, or 103.5% of the previous year-end level. The main factors behind the increase were decreases of ¥61.265 billion in notes and accounts payable and ¥60.490 billion in commercial paper, offset by increases of ¥125.798 billion in deposits in the banking business and ¥203.645 billion in short-term borrowings, as well as an increase of ¥97.714 billion in insurance contract reserves due to the impact of newly consolidated companies, among other factors.」
Liabilities and short-term borrowings increased, expanding the scale of liabilities exposed to funding costs when interest rates rise. - FY2021-Q2WorsenedAnnual report
「Liabilities increased by ¥232.372 billion from the end of the previous consolidated fiscal year to ¥9,445.779 billion. The main factor behind the increase was an increase of ¥180.759 billion in short-term borrowings.」
Liabilities, including short-term borrowings, increased, expanding the scale of liabilities exposed to funding and interest-rate risks. - FY2021-Q1WorsenedAnnual report
「Short-term borrowings increased by ¥200.860 billion,……among other items」
Short-term borrowings increased by ¥200.860 billion from the end of the previous consolidated fiscal year, expanding the scale of liabilities exposed to funding and interest-rate risks. - FY2020WorsenedAnnual report
「As of the end of February 2020, the Group had ¥3,006.6 billion in interest-bearing debt, including bonds and borrowings.」
Interest-bearing debt and other liabilities increased from ¥2,552.5 billion to ¥3,006.6 billion, increasing exposure to borrowing costs when interest rates rise. - FY2020-Q3WorsenedAnnual report
「Interest expense 12,162 23,659」
Interest expense for the nine-month period ended 31 December was ¥23.659 billion, up from ¥12.162 billion in the same period of the previous year. - FY2020-Q2WorsenedAnnual report
「Interest expense 8,214 15,787」
Interest expense increased from ¥8.214 billion in the same period of the previous year to ¥15.787 billion, increasing the actual burden of interest and funding costs. - FY2020-Q1WorsenedAnnual report
「Liabilities increased by ¥597.892 billion from the end of the previous consolidated fiscal year to ¥8,767.908 billion, or 107.3% of the previous year-end level. The main factors behind the increase were increases of ¥92.769 billion in commercial paper, ¥87.939 billion in short-term borrowings and ¥60.173 billion in deposits in the banking business, as well as an increase of ¥288.136 billion in lease obligations, included in other current and non-current liabilities, due to the adoption of IFRS 16, "Leases," by overseas consolidated subsidiaries.」
Liabilities, commercial paper, short-term borrowings and lease obligations increased, expanding the scale of liabilities exposed to funding and interest-rate risks. - FY2019WorsenedAnnual report
「As of the end of February 2019, the Group had ¥2,552.5 billion in interest-bearing debt, including bonds, borrowings and other liabilities.」
The balance of interest-bearing debt and other liabilities increased from ¥2,344.3 billion at the previous fiscal year-end to ¥2,552.5 billion, increasing exposure to borrowing costs when interest rates rise. - FY2019-Q3WorsenedAnnual report
「Liabilities increased by ¥683.276 billion from the end of the previous consolidated fiscal year to ¥8,219.295 billion, or 109.1% of the previous year-end level. The main factors behind the increase were increases of ¥355.401 billion in deposits in the banking business, ¥75.079 billion in notes and accounts payable, ¥76.188 billion in bonds, including bonds due for redemption within one year, and ¥74.738 billion in long-term borrowings, including long-term borrowings due for repayment within one year.」
Liabilities, including bonds and long-term borrowings, increased in scale and became more exposed to rising interest rates. - FY2019-Q2WorsenedAnnual report
「Liabilities increased by ¥445.715 billion from the previous fiscal year-end to ¥7,981.734 billion, or 105.9% of the previous year-end level. The main factor behind the increase was an increase of ¥280.215 billion in deposits in the banking business, ¥60.172 billion in notes and accounts payable, and ¥84.350 billion in bonds, including bonds due for redemption within one year.」
Liabilities increased by ¥445.715 billion from the previous fiscal year-end, expanding the scale of liabilities exposed to higher interest rates on bonds and other debt. - FY2019-Q1WorsenedAnnual report
「Liabilities increased by ¥321.437 billion from the end of the previous consolidated fiscal year to ¥7,857.456 billion, or 104.3% of the previous year-end level. The main factors behind the increase were increases of ¥134.627 billion in deposits in the banking business, ¥53.760 billion in notes and accounts payable, ¥35.933 billion in bonds, including bonds due for redemption within one year, and ¥39.231 billion in long-term borrowings, including long-term borrowings due for repayment within one year.」
Bonds and long-term borrowings both increased, expanding the scale of liabilities exposed to higher borrowing costs when interest rates rise. - FY2018WorsenedAnnual report
「As of the end of February 2018, the Group had ¥2,344.3 billion in bank borrowings, bonds, bonds with subscription rights to shares, commercial paper, lease obligations and other liabilities.」
The balance of interest-bearing debt and other liabilities increased to ¥2,344.3 billion from ¥2,257 billion in the previous fiscal year. - FY2017First statedAnnual report
「As of the end of February 2017, the Group had ¥2,257 billion in bank borrowings, bonds, bonds with subscription rights to shares, commercial paper, lease obligations and other liabilities.」
The Group discloses the risk of higher borrowing costs due to rising short- and long-term interest rates, based on interest-bearing debt and other liabilities of ¥2,257 billion.