Earnings environment resulting from negative interest rates and falling market interest rates
First written in FY2017-Q1. 14 of 25 entries say "Reframed", first in FY2017-Q3. Latest entry: 2026-07-31.
Aozora Bank moved to the "Worse" side of this theme in 2022.
0 other companies' latest entry also says "Reframed".
- 2026-07-31ReframedFinancial Results Presentation
「円金利上昇に伴い、国内預貸金利回り差は累積的に拡大基調」
金利上昇局面を収益機会として捉える記述を示した。 - FY2026ReframedAnnual report
「The Bank of Japan raised its policy rate to 0.75% in December 2025 from the perspective of achieving the 2% price stability target in a sustainable and stable manner.」
The description progressed from the previous low- and negative-interest-rate environment to a period of rising interest rates, including a policy rate of 0.75% and domestic long-term interest rates in the 2.3% range. - 2026-05-14ReframedFinancial Results Presentation
「⽇銀政策⾦利︓2026年度中に2度利上げ」
金利環境に関する前提を、政策金利の追加利上げを見込む記述として示した。 - FY2025ReframedAnnual report
「Japan's long-term interest rate, represented by the 10-year government bond yield, was in the 0.7% range at the beginning of the fiscal year but remained around 1% during the first half of the year against the backdrop of the lifting of the negative interest rate policy and other factors. Thereafter, it generally trended upward amid expectations of additional rate hikes by the Bank of Japan, exceeding 1.5% in early March, before ending the fiscal year in the high-1.4% range.」
The description changed from an environment centered on low and negative interest rates to an earnings environment based on the lifting of negative interest rates and rising domestic interest rates. - FY2023-Q3ReframedAnnual report
「In the financial markets, domestic interest rates remained in the mid-0.2% range as the Bank of Japan continued its monetary easing policy and the long-term interest rate, represented by the 10-year government bond yield, remained low. After the Bank of Japan decided at its December Monetary Policy Meeting to expand the permitted fluctuation range for long-term interest rates to ±0.5%, the rate rose to the 0.4% range.」
Japan's long-term interest rates shifted from their previous low levels to an environment in which they rose to the 0.4% range following the Bank of Japan's expansion of the permitted fluctuation range. - FY2023-Q1ReframedAnnual report
「In the financial markets, domestic interest rates came under increasing upward pressure as global interest rates continued to rise, but the Bank of Japan maintained its monetary easing policy and the long-term interest rate, represented by the 10-year government bond yield, remained in the low 0.2% range.」
The description changed from one centered on low, stable rates in negative territory to an environment in which domestic long-term interest rates also came under upward pressure as global interest rates rose. - FY2022-Q3ReframedAnnual report
「In Japan, the long-term interest rate, represented by the 10-year government bond yield, rose to above 0.1% toward the latter half of October under the influence of rising US long-term interest rates. In the US, as high inflation prompted expectations of a shift in monetary easing policy, the long-term interest rate, represented by the 10-year Treasury yield, temporarily rose to 1.70%. From the latter half of November, rates declined due to the impact of the Omicron variant and other factors, and in December the long-term interest rate temporarily fell to the mid-1.3% range.」
The description changed to a market environment in which domestic and overseas long-term interest rates rose and then declined, amid continued low interest rates and growing expectations of inflation and a shift away from monetary easing. - FY2022-Q2ReframedAnnual report
「In Japan, the long-term interest rate, represented by the 10-year government bond yield, was above 0.1% in early April but gradually declined under the influence of US long-term interest rates to 0% to 0.05%. However, in the latter half of September, it rose to the 0.08% range due to rising US long-term interest rates and the Nikkei average, as well as concerns about increased government bond issuance associated with a large supplementary budget.」
Japan's long-term interest rates fluctuated at low levels, declining temporarily to 0% to 0.05% before rising to the 0.08% range in the latter half of September. - FY2022-Q1RestatedAnnual report
「In Japan, the long-term interest rate, represented by the 10-year government bond yield, declined under the influence of US long-term interest rates and remained broadly below 0.1%.」
Japan's long-term interest rates remained low, broadly below 0.1%, and the low-interest-rate earnings environment continued. - FY2021ReframedAnnual report
「In Japan, the long-term interest rate, represented by the 10-year government bond yield, temporarily rose amid expectations that the Bank of Japan might expand the permitted range for long-term interest rates at its March Monetary Policy Meeting, as well as due to rising US long-term interest rates, but remained broadly around 0.1%.」
The description changed from one centered on negative territory to one of a low-interest-rate environment in which rates remained broadly around 0.1%. - FY2021-Q3RestatedAnnual report
「In Japan, the long-term interest rate, represented by the 10-year government bond yield, temporarily rose in response to movements in US interest rates, but continued to remain within a narrow range of approximately 0% to 0.05%.」
Japan's long-term interest rates remained broadly within a narrow range of 0% to 0.05%, and the low-interest-rate earnings environment continued. - FY2021-Q1ReframedAnnual report
「In Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly around 0%.」
The description changed from one centered on negative territory to one stating that Japan's long-term interest rates remained broadly around 0%. Exposure to an earnings environment shaped by low interest rates continued. - FY2020-Q3RestatedAnnual report
「In Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly between -0.3% and -0.0%.」
Japan's long-term interest rates remained low in negative territory, reaffirming exposure to an earnings environment shaped by low interest rates. - FY2020-Q2RestatedAnnual report
「In Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly between -0.292% and -0.003%.」
Japan's long-term interest rates remained low in negative territory, reaffirming exposure to an earnings environment shaped by low interest rates. - FY2020-Q1RestatedAnnual report
「In Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly between -0.192% and -0.003%.」
Japan's long-term interest rates remained low in negative territory, reaffirming exposure to an earnings environment shaped by low interest rates. - FY2019RestatedAnnual report
「In Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly between -0.100% and 0.165%.」
Long-term interest rates remained low, including periods in negative territory, reaffirming the prolonged low-interest-rate environment as an earnings risk. - FY2019-Q3ReframedAnnual report
「A review of the financial markets shows that in Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly between -0.006% and 0.165%.」
Japan's long-term interest rates remained low, but the range this time was from -0.006% to 0.165%. - FY2019-Q2ReframedAnnual report
「A review of the financial markets shows that in Japan, the long-term interest rate, represented by the 10-year government bond yield, moved to a higher range from July following the Bank of Japan's decision to make yield curve control more flexible, and remained in the 0.1% range toward the latter half of the period.」
References to the low-interest-rate environment continued, but following the Bank of Japan's greater flexibility in yield curve control, the description changed to show the 10-year government bond yield moving up from the previous range of 0.025% to 0.074% into the 0.1% range. - FY2019-Q1RestatedAnnual report
「A review of the financial markets shows that in Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly between 0.025% and 0.074%.」
Japan's long-term interest rates remained low, and exposure to an earnings environment shaped by low interest rates continued. - FY2018-Q3RestatedAnnual report
「A review of the financial markets shows that in Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly between -0.015% and 0.105%.」
Long-term interest rates remained low, including periods in negative territory, and exposure to an earnings environment shaped by low interest rates continued. - FY2018-Q2RestatedAnnual report
「A review of the financial markets shows that in Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly between -0.015% and 0.105%.」
Long-term interest rates remained low, including periods in negative territory, and exposure to an earnings environment shaped by low interest rates continued. - FY2018-Q1ReframedAnnual report
「A review of the financial markets shows that in Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly between 0% and 0.09%.」
The description changed from one centered on negative interest rates to one stating that the 10-year government bond yield remained broadly between 0% and 0.09%. The low-interest-rate environment continued, but this description does not characterize rates as being in negative territory. - FY2017-Q3ReframedAnnual report
「A review of the financial markets shows that in Japan, the long-term interest rate, represented by the 10-year government bond yield, remained broadly between -0.3% and 0.1%.」
The description of policy changed from the previous reference to quantitative and qualitative monetary easing with a negative interest rate to quantitative and qualitative monetary easing with yield curve control. Long-term interest rates remained low and partly in negative territory. - FY2017-Q2RestatedAnnual report
「A review of the financial markets shows that in Japan, as the Bank of Japan's quantitative and qualitative monetary easing with a negative interest rate continued, short-term market interest rates declined, while the long-term interest rate, represented by the 10-year government bond yield, remained broadly in negative territory at approximately -0.3% to 0.0%.」
The negative interest rate policy and declining market interest rates continued, and the 10-year government bond yield remained broadly between -0.3% and 0.0%. - FY2017-Q1First statedAnnual report
「A review of the financial markets shows that in Japan, the Bank of Japan continued the quantitative and qualitative monetary easing with a negative interest rate decided in January 2016. Market interest rates continued to decline, while long-term interest rates, represented by the 10-year government bond yield, remained in negative territory.」
The negative interest rate policy and declining market interest rates are described as external factors.