Rise in US dollar funding costs
First written in FY2017-Q1. 16 of 29 entries say "Worsened", first in FY2017-Q1. Latest entry: FY2026.
Aozora Bank moved to the "Worse" side of this theme in 2016, 8 years before the typical company in this theme (2024).
The whole theme swung hardest in 2025: 12 of 36 companies on the "Worse" side.
12 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Funding expenses declined from ¥124.362 billion in the previous fiscal year to ¥112.393 billion.」
Funding expenses declined by more than ¥11.9 billion from the previous fiscal year, reducing the burden of foreign-currency funding costs and other factors that had increased in prior fiscal years. - 2026-05-14MitigatedResults
「資金調達費用 112,393 107,973」
資金調達費用が前期の1,123億93百万円から1,079億73百万円へ減少した。 - FY2026-H1MitigatedAnnual report
「Funding expenses First half of the previous fiscal year 56,995 First half of the current fiscal year 54,484」
Funding expenses declined from ¥56.995 billion in the same period of the previous year to ¥54.484 billion, reducing the burden of funding costs. - FY2025MitigatedAnnual report
「Funding expenses Previous fiscal year 124,362 Current fiscal year 112,393」
Funding expenses declined from ¥124.362 billion in the previous fiscal year to ¥112.393 billion, reducing the burden of foreign-currency funding costs and other factors that had increased in prior fiscal years. - FY2025-H1MitigatedAnnual report
「Funding expenses First half of the previous fiscal year 59,710 First half of the current fiscal year 56,995」
Funding expenses declined from ¥59.710 billion in the same period of the previous year to ¥56.995 billion. The burden from foreign-currency funding costs, which had increased in prior fiscal years, eased in the first half. - FY2024-Q3WorsenedAnnual report
「Funding expenses Third quarter of the previous fiscal year 39,193 Third quarter of the current fiscal year 93,014」
Funding expenses increased from ¥39.193 billion in the same period of the previous year to ¥93.014 billion, and the burden of funding costs driven by higher foreign-currency interest rates and other factors continues to increase. - FY2024-Q2WorsenedAnnual report
「Funding expenses Second quarter of the previous fiscal year 20,193 Second quarter of the current fiscal year 59,710」
Funding expenses increased from ¥20.193 billion in the same period of the previous year to ¥59.710 billion, and the burden of funding costs driven by higher foreign-currency interest rates and other factors continues to increase. - FY2024-Q1WorsenedAnnual report
「Funding expenses First quarter of the previous fiscal year 7,057 First quarter of the current fiscal year 28,604」
Funding expenses increased from ¥7.0 billion in the same period of the previous year to ¥28.6 billion, substantially increasing the burden of funding costs. - FY2023-Q3WorsenedAnnual report
「As overseas interest rates rose, both interest income on foreign-currency-denominated loans and foreign-currency funding expenses increased.」
Higher foreign-currency interest rates increased foreign-currency funding expenses, and the funding yield rose to 0.83%, up 0.57 percentage points year on year. - FY2023-Q1WorsenedAnnual report
「Funding yield 0.28 0.46 0.18」
The funding yield rose from 0.28% in the same period of the previous year to 0.46%, increasing the burden of funding costs. - FY2022-Q3MitigatedAnnual report
「Funding expenses declined from ¥13.8 billion to ¥10.5 billion. The funding yield fell from 0.38% to 0.26%.」
The figures show that funding expenses and the funding yield declined from the same period of the previous year, easing the earnings pressure from higher foreign-currency funding costs. - FY2022-Q1MitigatedAnnual report
「Funding expenses 5,871 3,731 21 Funding yield 0.49 0.28 △0.21」
Funding expenses declined from ¥5.8 billion in the same period of the previous year to ¥3.7 billion, while the funding yield fell from 0.49% to 0.28%, reducing the burden of funding costs. - FY2021MitigatedAnnual report
「Net interest income increased by ¥1.2 billion from the previous fiscal year to ¥50.0 billion due to an improved lending margin and lower foreign-currency funding costs, among other factors. Lower US dollar market interest rates and the dollar-yen basis cost contributed to the decline in the funding yield.」
Lower foreign-currency funding costs contributed to improvements in the funding yield and net interest income, easing the pressure from higher costs in prior fiscal years. - FY2021-Q3MitigatedAnnual report
「Lower US dollar market interest rates and the dollar-yen basis cost contributed to the decline in the funding yield.」
Lower US dollar market interest rates and the dollar-yen basis cost continued to ease the earnings pressure from higher foreign-currency funding costs. - FY2021-Q2MitigatedAnnual report
「Lower US dollar market interest rates and the dollar-yen basis cost contributed to the decline in the funding yield.」
Lower US dollar market interest rates and the dollar-yen basis cost eased the earnings pressure from higher foreign-currency funding costs. - FY2021-Q1MitigatedAnnual report
「Funding expenses decreased by ¥7.1 billion year on year due in part to lower foreign-currency funding costs. The funding yield fell 67bps year on year.」
Lower foreign-currency funding costs reduced funding expenses by ¥7.1 billion year on year and the funding yield by 67bps. The impact of rising funding costs, which had previously increased, eased during the quarter. - FY2020-Q3WorsenedAnnual report
「Funding expenses increased by ¥2.7 billion year on year as foreign-currency funding costs rose. The funding yield rose 2bps year on year due to higher foreign-currency funding costs. The gross funding spread narrowed year on year to 1.17% due in part to lower gains on investment trust cancellations and other factors.」
Higher foreign-currency funding costs increased funding expenses and the funding yield, while the gross funding spread narrowed to 1.17%. - FY2020-Q2WorsenedAnnual report
「Funding expenses increased by ¥3.9 billion year on year as foreign-currency funding costs rose. The funding yield rose 11bps year on year due to higher foreign-currency funding costs. The gross funding spread narrowed year on year to 1.17% due in part to lower investment trust distributions and other factors.」
Higher foreign-currency funding costs increased funding expenses by ¥3.9 billion year on year and the funding yield by 11bps. The gross funding spread narrowed to 1.17%. - FY2020-Q1RestatedAnnual report
「Funding expenses increased by ¥2.9 billion year on year due to the impact of higher US dollar market interest rates and other factors. The funding yield rose 19bps year on year due to higher foreign-currency funding costs affected by higher US dollar market interest rates and other factors.」
Higher US dollar market interest rates and other factors continued to drive up foreign-currency funding costs, continuing to affect funding expenses and the funding yield. - FY2019WorsenedAnnual report
「Funding expenses increased by ¥17.0 billion year on year due to the impact of higher US dollar market interest rates and other factors. The funding yield also rose 37bps year on year due to higher foreign-currency funding costs affected by higher US dollar market interest rates and other factors.」
Higher US dollar market interest rates and other factors continued to drive up foreign-currency funding costs, increasing their impact on funding expenses and the funding yield. - FY2019-Q3WorsenedAnnual report
「Funding expenses increased by ¥12.1 billion year on year due to the impact of higher US dollar market interest rates and other factors. The funding yield also rose 34bps year on year due to higher foreign-currency funding costs affected by higher US dollar market interest rates and other factors.」
Higher US dollar market interest rates and other factors continued to drive up foreign-currency funding costs, with funding expenses up ¥12.1 billion year on year and the funding yield up 34bps. - FY2019-Q2WorsenedAnnual report
「Funding expenses increased by ¥7.4 billion year on year due to the impact of higher US dollar market interest rates and other factors. The funding yield also rose 31bps year on year due to higher foreign-currency funding costs affected by higher US dollar market interest rates and other factors.」
Higher US dollar market interest rates and other factors increased funding expenses by ¥7.4 billion year on year and the funding yield by 31bps. The impact of foreign-currency funding costs has increased from the previous description. - FY2019-Q1WorsenedAnnual report
「Funding expenses increased by ¥3.6 billion year on year due to the impact of higher US dollar market interest rates and other factors. While yen funding costs declined slightly, foreign-currency funding costs rose under the impact of higher US dollar market interest rates and other factors, resulting in a 30bps year-on-year increase in the funding yield overall.」
Higher US dollar market interest rates and other factors increased funding expenses by ¥3.6 billion year on year and the funding yield by 30bps. - FY2018-Q3WorsenedAnnual report
「Funding expenses increased by ¥6.4 billion year on year due to the impact of higher US dollar market interest rates and other factors. Although yen funding costs continued to decline, the funding yield rose 19bps year on year overall due to the impact of higher US dollar market interest rates and other factors.」
Higher US dollar market interest rates and other factors increased funding expenses by ¥6.4 billion year on year and the funding yield by 19bps. The impact of foreign-currency funding costs continues to be evident. - FY2018-Q2WorsenedAnnual report
「Funding expenses increased by ¥4.3 billion year on year due to the impact of higher US dollar market interest rates and other factors. Although yen funding costs continued to decline, the funding yield rose 20bps year on year overall due to the impact of higher US dollar market interest rates and other factors.」
Higher US dollar market interest rates and other factors increased funding expenses by ¥4.3 billion year on year, while the funding yield rose 20bps year on year. The impact has increased from the 17bps stated previously. - FY2018-Q1RestatedAnnual report
「Funding expenses increased by ¥1.9 billion year on year due to the impact of higher US dollar market interest rates and other factors. Although yen funding costs continued to decline, the funding yield rose 19bps year on year overall due to the impact of higher US dollar market interest rates and other factors.」
It states that higher US dollar market interest rates and other factors affected the ¥1.9 billion year-on-year increase in funding expenses and the 19bps rise in the funding yield, confirming the continued impact of foreign-currency funding costs. - FY2017-Q3WorsenedAnnual report
「Funding expenses increased by ¥4.3 billion year on year due to the impact of higher US dollar funding costs and other factors. Although yen funding costs declined, the funding yield rose to 0.53%, up 17bps year on year, due to the impact of higher US dollar funding costs and other factors.」
The impact of higher US dollar funding costs increased from the previous description, with funding expenses up ¥4.3 billion year on year and the funding yield up 17bps. - FY2017-Q2WorsenedAnnual report
「Funding expenses increased by ¥2.3 billion year on year due to higher US dollar funding costs. Although yen funding costs continued to decline, the funding yield rose 15bps year on year due to higher US dollar funding costs.」
The impact of higher US dollar funding costs increased, with funding expenses up ¥2.3 billion year on year and the funding yield up 15bps. - FY2017-Q1WorsenedAnnual report
「Funding expenses increased by ¥1.1 billion year on year due to higher US dollar funding costs. Although yen funding costs continued to decline, the funding yield rose 13bps year on year due to higher US dollar funding costs.」
It states that rising US dollar funding costs actually affected funding expenses and the funding yield.