Risk of falling bond prices and portfolio responses
First written in FY2017. 6 of 10 entries say "Worsened", first in FY2024-Q2. Latest entry: FY2026.
The Hyakujushi Bank moved to the "Worse" side of this theme in 2024, 5 years after the typical company in this theme (2019).
The whole theme swung hardest in 2019: 69 of 144 companies on the "Worse" side.
20 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Carrying amount on the consolidated balance sheet not exceeding acquisition cost Bonds 435,457 469,523 △34,066」
The negative valuation difference on bonds classified as other securities widened from ¥30,499 million to ¥34,066 million. - 2026-05-12AdvancedEarnings
「We are reducing interest rate risk by controlling duration and working to improve the portfolio.」
The Bank explicitly stated that it was reducing low-yielding yen-denominated bonds and other assets and lowering interest rate risk by controlling duration. - FY2026-H1WorsenedAnnual report
「Bonds 537,866 568,630 △30,763」
The negative valuation difference on bonds classified as other securities widened from ¥17,931 million in the same period of the previous year to ¥30,763 million. - FY2025-H1WorsenedAnnual report
「Bonds 552,026 569,957 △17,931」
The negative valuation difference on bonds classified as other securities widened from ¥15,999 million at the end of the previous fiscal year to ¥17,931 million. - FY2024WorsenedAnnual report
「Bonds 510,843 526,842 △15,999」
The negative valuation difference on bonds classified as other securities widened from ¥14,705 million at the end of the previous fiscal year to ¥15,999 million. - FY2024-Q3WorsenedAnnual report
「Bonds 605,801 591,305 △14,496 560,336 544,664 △15,672」
For bonds classified as other securities, the negative valuation difference widened from ¥14,496 million at the end of the previous fiscal year to ¥15,672 million. - FY2024-Q2WorsenedAnnual report
「Bonds 531,851 555,444 △23,592」
For bonds classified as other securities, the negative valuation difference widened from ¥1,470.5 million at the end of the previous fiscal year to ¥2,359.2 million. - FY2024-Q1MitigatedAnnual report
「Bonds 604,017 591,718 △12,299」
For bonds classified as other securities, the negative valuation difference narrowed from ¥14,496 million at the end of the previous fiscal year to ¥12,299 million. - FY2019RestatedAnnual report
「The Bank is preparing for rising long-term interest rates by shortening the remaining maturities of its bond portfolio through portfolio replacement and other measures, and by selling some bonds on which valuation losses have arisen.」
The Bank continues to address the risk of declining bond prices resulting from higher long-term interest rates by shortening remaining maturities and making partial sales. - FY2017First statedAnnual report
「The Group invests in bonds, including Japanese government bonds, as part of its fund management activities. If long-term interest rates rise, bond prices may decline and valuation losses on bonds may arise. The Bank is preparing for rising long-term interest rates by shortening the remaining maturities of its bond portfolio through portfolio replacement and other measures, and by selling some bonds on which valuation losses have arisen.」
The disclosure describes the risk of declining bond prices resulting from higher long-term interest rates and the measures taken, including shortening remaining maturities and partial sales.