Dependence on Interest-Bearing Debt
First written in FY2017. 12 of 24 entries say "Worsened", first in FY2018. Latest entry: 2026-09-29.
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
- FY2026-H1MitigatedAnnual report
「Short-term borrowings 2,980 2,790 Long-term borrowings due for repayment within one year 8,702 8,402 Long-term borrowings 8 7」
Short-term borrowings, long-term borrowings due for repayment within one year and long-term borrowings all decreased from the end of the previous fiscal year. Dependence on interest-bearing debt remains, but disclosed borrowing balances are narrowing. - 2026-04-09WorsenedM&A and Subsidiary Changes
「We plan to borrow funds to acquire this property. The amount borrowed is expected to exceed 30% of consolidated net assets for the immediately preceding consolidated fiscal year, the fiscal year ending October 2025.」
The planned borrowing to acquire property for sale is expected to exceed 30% of consolidated net assets, indicating increased exposure to reliance on interest-bearing debt. - FY2025WorsenedAnnual report
「Non-current liabilities at the end of the current consolidated fiscal year were ¥10,837 million, an increase of ¥10,501 million from the end of the previous consolidated fiscal year. The main factor was a ¥9,283 million increase in deposits received from silent partnerships.」
Non-current liabilities increased substantially, including ¥8,500 million in long-term borrowings and ¥8,702 million in long-term borrowings due for repayment within one year. Funding exposure, including borrowings and deposits received, is expanding. - FY2025-H1WorsenedAnnual report
「Non-current liabilities at the end of the current interim consolidated accounting period were ¥12,559 million, an increase of ¥12,224 million from the end of the previous consolidated fiscal year. The main factor was a ¥10,595 million increase in long-term borrowings.」
Long-term borrowings increased by ¥10,595 million, while non-current liabilities increased by ¥12,224 million. Cash flows from financing activities also represented an inflow of ¥10,759 million, increasing exposure associated with dependence on interest-bearing debt. - FY2024WorsenedAnnual report
「Current liabilities at the end of the current consolidated fiscal year were ¥3,223.7 million, an increase of ¥3,166.3 million from the end of the previous consolidated fiscal year. The main factor was a ¥2,705.6 million increase in deposits received and deposits received from silent partnerships.」
Short-term borrowings increased from ¥334.86 million at the end of the previous fiscal year to ¥3,425.9 million. Deposits received and deposits received from silent partnerships also increased substantially, expanding the group's funding and debt exposure. - FY2024-Q2WorsenedAnnual report
「Current liabilities at the end of the second quarter of the current consolidated fiscal year were ¥721 million, an increase of ¥147 million from the end of the previous consolidated fiscal year. The main factor was a ¥336 million increase in short-term borrowings.」
Short-term borrowings increased by ¥336 million, from ¥334.86 million at the end of the previous consolidated fiscal year to ¥670.86 million, increasing exposure associated with dependence on interest-bearing debt. - FY2024-Q1WorsenedAnnual report
「Current liabilities at the end of the first quarter of the current consolidated fiscal year were ¥939 million, an increase of ¥365 million from the end of the previous consolidated fiscal year. The main factor was a ¥418 million increase in short-term borrowings.」
Short-term borrowings increased by ¥418 million, from ¥334.86 million at the end of the previous consolidated fiscal year to ¥752.86 million, increasing exposure associated with dependence on interest-bearing debt. - FY2023MitigatedAnnual report
「In the current consolidated fiscal year, net cash used in financing activities was ¥1.066 billion, compared with ¥1.213 billion provided in the previous corresponding period. This was primarily due to ¥665 million in repayments of short-term borrowings and ¥400 million in repayments of long-term borrowings.」
Short-term borrowings decreased from ¥1,000 million to ¥334.86 million, while long-term borrowings decreased from ¥400 million to zero. Dependence on interest-bearing debt remains, but borrowing exposure is narrowing. - FY2023-Q3MitigatedAnnual report
「At the end of the third quarter of the current consolidated fiscal year, current liabilities were ¥725 million, a decrease of ¥723 million from the end of the previous consolidated fiscal year. The main factor was a ¥665 million decrease in short-term borrowings. At the end of the third quarter of the current consolidated fiscal year, non-current liabilities were ¥83 million, a decrease of ¥388 million from the end of the previous consolidated fiscal year. The main factor was a ¥400 million decrease in long-term borrowings due to repayments.」
Repayments reduced short-term borrowings by ¥665 million and long-term borrowings by ¥400 million. Although dependence on borrowings remains, exposure to interest-bearing debt at the end of the quarter has declined. - FY2023-Q1MitigatedAnnual report
「At the end of the first quarter of the current consolidated fiscal year, non-current liabilities were ¥87 million, a decrease of ¥385 million from the end of the previous consolidated fiscal year. The main factor was a ¥400 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥400 million, and non-current liabilities decreased by ¥385 million. However, ¥1 billion in short-term borrowings remains, so dependence on interest-bearing debt has not been eliminated. - FY2022WorsenedAnnual report
「In the current consolidated fiscal year, net cash provided by financing activities was ¥1.213 billion, compared with ¥3 million used in the previous corresponding period. This was primarily due to ¥1 billion in proceeds from short-term borrowings and ¥400 million in proceeds from long-term borrowings.」
The company raised ¥1 billion through short-term borrowings and ¥400 million through long-term borrowings, increasing funding through borrowings. Exposure related to dependence on interest-bearing debt has increased. - FY2022-Q2WorsenedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, current liabilities were ¥388 million, an increase of ¥103 million from the end of the previous consolidated fiscal year. The main factor was an increase of ¥99 million in short-term borrowings.」
Short-term borrowings increased by ¥99 million, while long-term borrowings under non-current liabilities also increased by ¥396 million. Exposure related to dependence on interest-bearing debt has increased. - FY2022-Q1WorsenedAnnual report
「At the end of the first quarter of the current consolidated fiscal year, current liabilities were ¥307 million, an increase of ¥64 million from the end of the previous consolidated fiscal year. The main factors were an increase of ¥67 million in short-term borrowings and a decrease of ¥22 million in borrowed securities.」
Short-term borrowings of ¥67.665 million were recorded, although none existed at the end of the previous consolidated fiscal year, and current liabilities increased by ¥64 million. Exposure to the risk of dependence on interest-bearing debt has increased. - FY2020MitigatedAnnual report
「Our Group issued new shares through a third-party allotment and worked to reduce interest-bearing debt and raise business funds through contributions in kind. We completed the long-standing task of restructuring our debt and resolved the funding-related issues concerning business continuity.」
Compared with the previous situation in which high dependence on interest-bearing debt and repayment negotiations affected business continuity, the company states that it completed its debt restructuring by reducing debt through a third-party allotment and contributions in kind. However, it also states that it may continue to use borrowings in the future. - FY2020-Q3RestatedAnnual report
「The main components were short-term borrowings of ¥450 million and deposits received of ¥122 million.」
The company discloses that interest-bearing debt remains outstanding, including short-term borrowings of ¥450 million and long-term borrowings of ¥184.39 million. - FY2020-Q2RestatedAnnual report
「However, not all interest-bearing debt has been eliminated, and the Company has not generated stable profits sufficient to cover interest payments. It therefore recognizes that events or circumstances giving rise to significant doubt about its ability to continue as a going concern still exist.」
While debt for which the benefit of time had been lost and other obligations no longer exist, not all interest-bearing debt has been eliminated. The company reiterates its recognition that stable profits are insufficient to cover interest expenses. - FY2020-Q1RestatedAnnual report
「However, not all interest-bearing debt has been eliminated, and the Company has not generated stable profits sufficient to cover interest payments. It therefore recognizes that events or circumstances giving rise to significant doubt about its ability to continue as a going concern still exist.」
While debt for which the benefit of time had been lost and other obligations have been resolved, interest-bearing debt, including short- and long-term borrowings, remains. The company reiterates its recognition of the risk that stable profits may be insufficient to cover interest expenses. - FY2019MitigatedAnnual report
「The company had interest-bearing debt for which the benefit of time had been lost because the repayment dates had arrived, placing business continuity at risk, but states that it resolved these issues and substantially reduced its interest-bearing debt.」
Although the risk of high dependence on interest-bearing debt continues to be disclosed, the company explains that interest-bearing debt was substantially reduced through measures addressing debt for which the benefit of time had been lost and other obligations. - FY2018WorsenedAnnual report
「If repayment dates have passed, the continuation of our business may depend on the outcome of negotiations regarding repayment of interest-bearing debt.」
The company explicitly identifies the possibility that business continuity after repayment dates have passed may depend on repayment negotiations, in addition to the risk of dependence on interest-bearing debt. - FY2017RestatedAnnual report
「Although our policy is to reduce interest-bearing debt and focus on strengthening equity capital, fluctuations in interest rates resulting from monetary policy, economic conditions and other factors may affect our operating results and financial position.」
The company continues to describe the risk of dependence on interest-bearing debt and identifies reducing debt and strengthening equity capital as its response. - FY2017First statedAnnual report
「Because we finance funds for acquiring land for real estate development and part of our construction costs primarily through borrowings from financial institutions, our dependence on interest-bearing debt is high.」
The company identifies its dependence on borrowings from financial institutions to finance land for real estate development and construction costs, and its high dependence on interest-bearing debt, as a new risk item.