Cash Management and Constraints on External Financing
First written in FY2016. 11 of 24 entries say "Restated". Latest entry: FY2026.
Traders Holdings moved to the "Worse" side of this theme in 2017, 8 years before the typical company in this theme (2025).
The whole theme swung hardest in 2025: 12 of 50 companies on the "Worse" side.
6 other companies' latest entry also says "Other".
- FY2026Operating cash flow deficit and expansion of financing capacityAnnual report
「Cash flows from operating activities resulted in an excess of expenditures of ¥795 million during the current consolidated fiscal year, compared with an excess of receipts of ¥6,473 million in the same period of the previous year.」
Operating cash flow shifted from excess inflows of ¥6,473 million to excess outflows of ¥795 million, and cash and cash equivalents also declined to ¥8,371 million. Meanwhile, the overdraft facility limit was increased to ¥2,000 million. - 2026-04-30WorsenedEarnings
「Cash flows from operating activities resulted in an excess of expenditures of ¥795 million during the current consolidated fiscal year, compared with an excess of receipts of ¥6,473 million in the same period of the previous year.」
Operating cash flow shifted from a substantial excess of receipts in the previous year to an excess of expenditures, while cash on hand continued to decline. - FY2026-H1WorsenedAnnual report
「As a result, funds decreased by ¥3,982 million from the end of the previous consolidated fiscal year to ¥8,108 million.」
Cash flow from operating activities resulted in excess cash outflows of ¥2,149 million, and cash and cash equivalents decreased by ¥3,982 million from the end of the previous fiscal year. Although no difficulty in raising funds is stated, cash on hand has declined. - FY2025MitigatedAnnual report
「Cash generated by operating activities during the consolidated fiscal year under review amounted to ¥6,473 million, compared with ¥5,168 million in the same period of the previous year. As a result, funds increased by ¥3,270 million from the end of the previous consolidated fiscal year to ¥12,090 million.」
The excess cash generated by operating activities increased from ¥5,168 million to ¥6,473 million, and cash and cash equivalents increased by ¥3,270 million year on year to ¥12,090 million. However, the company also states that funding needs have not yet been fully met and that it will continue negotiating financing. - FY2025-H1MitigatedAnnual report
「As a result, funds increased by ¥2,768 million from the end of the previous consolidated fiscal year to ¥11,589 million.」
Cash and cash equivalents increased by ¥2,768 million from the end of the previous fiscal year, as cash flow from operating activities generated excess cash of ¥3,928 million. Cash on hand for liquidity management has improved. - FY2023RestatedAnnual report
「As the Group's funds are still insufficient to fully meet the funding needs described above, we will continue negotiating loans with financial institutions and take measures to promote greater stability in business operations.」
Although the financial foundation has improved through the accumulation of profits and other factors, funding needs in the FX business have not yet been fully met, and the company continues to negotiate financing and consider funding options. - FY2023-Q2WorsenedAnnual report
「As a result, funds decreased by ¥1,562 million from the end of the previous consolidated fiscal year to ¥3,664 million.」
Cash and cash equivalents decreased by ¥1,562 million from the end of the previous fiscal year, mainly due to an excess of ¥725 million in cash outflows from operating activities. - FY2022MitigatedAnnual report
「The Group's financial foundation has improved as performance has recovered. Funds have increased through the accumulation of profits, and financing from financial institutions has also gradually increased.」
The company stated that its financial foundation had improved through the accumulation of profits and increased financing from financial institutions, and that cash on hand had also increased. At the same time, it indicated that funding needs had not yet been fully met and that financing would need to continue. - FY2022-Q3RestatedAnnual report
「During the consolidated cumulative third quarter period under review, there were no material additions or changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no material additions or changes regarding liquidity and the difficulty of obtaining external financing. - FY2021-Q3RestatedAnnual report
「During the consolidated cumulative third quarter period under review, there were no material additions or changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company states that there have been no material additions or changes regarding liquidity and the difficulty of obtaining external financing. - FY2020-Q3RestatedAnnual report
「The FX trading business on which the Group is focusing requires substantial working capital, including margin deposits placed with covering financial institutions and others, settlement funds associated with the daily mark-to-market of trading gains and losses, and funds advanced in connection with receipts and payments under trusts for the segregated management of customer assets. Accordingly, securing substantial, stable long-term funding is necessary to stabilize the business.」
The company continues to recognize that the FX business requires substantial working capital and stable long-term funding. Separately, it states that cash on hand has been trending upward on the back of strong performance. - FY2020-Q2RestatedAnnual report
「To stabilize the group's financial base, it is essential for each subsidiary to generate profits and strengthen its capital base. Although the group's funds on hand have been increasing recently due to strong performance, it will make preparations to ensure that funds can be raised promptly when needed.」
Although cash on hand has been trending upward on the back of strong performance, the company continues to state the need for its subsidiaries to report profits and strengthen their capital bases, as well as to remain prepared to raise funds promptly when necessary. - FY2020-Q1RestatedAnnual report
「The group's core FX trading business requires substantial working capital, including margin deposits with financial institutions used for covering transactions, settlement funds arising from the daily mark-to-market of trading gains and losses, and temporary funds advanced in connection with receipts and payments involving customer segregated account management trusts. Accordingly, securing substantial, stable long-term funding is necessary to stabilize the business.」
It continues to recognize that the FX trading business requires substantial working capital and stable long-term funding. - FY2019-Q3WorsenedAnnual report
「Cash and deposits ¥1,680.179 million ¥676.242 million」
Cash and deposits decreased from ¥1,680.179 million at the end of the previous consolidated fiscal year to ¥676.242 million at the end of the third quarter of the current consolidated fiscal year. Funds on hand for cash management have contracted. - FY2019-Q2RestatedAnnual report
「The group's core foreign exchange trading business requires substantial working capital, including margin deposits with financial institutions used for covering transactions, settlement funds arising from the daily mark-to-market of trading gains and losses, and temporary funds advanced in connection with receipts and payments involving customer segregated account management trusts. Accordingly, securing substantial, stable long-term funding is necessary to stabilize the business.」
It continues to recognize, as a cash management issue, that the foreign exchange trading business requires substantial working capital and stable long-term funding. - FY2019-Q1RestatedAnnual report
「Because revenue is heavily influenced by market trends, it is difficult not only to forecast business performance, but also to predict the amounts required for daily settlements with financial institutions used for covering transactions and for receipts and payments relating to segregated customer money trusts, which arise from fluctuations in customers' trading gains and losses and can at times be substantial. It is therefore necessary to maintain a sufficiently large reserve of readily available funds.」
It continues to recognize, as a cash management issue in the FX business, that daily settlements and receipts and payments involving segregated customer money trusts are difficult to predict and that substantial reserve funds may be required. - FY2018-Q3WorsenedAnnual report
「Total liabilities increased by ¥2,699.324 million from the end of the previous consolidated fiscal year to ¥14,707.129 million. This was mainly due to an increase of ¥633.419 million in foreign exchange customer margin deposits and an increase of ¥2,100.675 million in short-term borrowings, among other factors.」
Short-term borrowings increased by ¥2,100.675 million from the end of the previous consolidated fiscal year, resulting in a buildup of liabilities accompanied by greater reliance on external borrowing. - FY2018-Q2WorsenedAnnual report
「Cash flow from operating activities during the six months ended the second quarter resulted in an excess of expenditures of ¥1,477.651 million. This was primarily because funds declined due to factors including the ¥1,243.624 million payment for losses on contract cancellations.」
The cancellation of the contract for the Azumino project resulted in a payment of ¥1,243.624 million, and the excess of expenditures in cash flow from operating activities amounted to ¥1,477.651 million. - FY2018-Q1WorsenedAnnual report
「In the second quarter of the consolidated fiscal year, approximately ¥1,146.000 million in funds was required to refund amounts already received under the sales contract following the cancellation of the contract for the Azumino Biomass Energy Center described in “(1) Business Results.”」
The cancellation of the contract for the Azumino project required a refund of approximately ¥1,146.000 million. Short-term borrowings also increased by ¥1,150.690 million from the end of the previous fiscal year, indicating growing funding needs. - FY2017WorsenedAnnual report
「As a result, funds decreased by ¥468.354 million from the end of the previous consolidated fiscal year to ¥518.397 million.」
Cash flow from operating activities resulted in an excess of expenditures of ¥1,196.719 million, and cash and cash equivalents decreased by ¥468.354 million from the end of the previous fiscal year. It disclosed a decrease in funds on hand related to cash management risks. - FY2017-Q3RestatedAnnual report
「During the nine-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
Regarding tightening cash management and external financing, the company states that there have been no material changes. - FY2017-Q2RestatedAnnual report
「During the six-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
Regarding tightening cash management and external financing, the company states that there have been no material changes. - FY2017-Q1RestatedAnnual report
「During the three-month cumulative period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
Regarding tightening cash management and external financing, the company states that there have been no material changes. - FY2016First statedAnnual report
「If the recovery in performance is delayed and financing becomes difficult due to changes in economic conditions or other factors, or if the group is forced to raise funds on terms significantly less favorable than usual, its cash management and performance could be materially affected.」
Against the backdrop of daily fund transfers associated with FX trading and the construction of renewable energy facilities, it recognizes deterioration in financing conditions and tightening liquidity as risks.