Risk of Dependence on Interest-Bearing Debt and Difficulty Obtaining Financing
First written in FY2016. 6 of 37 entries say "Mitigated", first in FY2019. Latest entry: 2026-11-06.
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
- 2026-11-06MitigatedFinancial results presentation
「「有利子負債依存度」は、12.9％と低い水準」
有利子負債依存度が低い水準にあることを示し、資金調達・借入依存リスクの低減状況を記載している。 - FY2027-H1Changes in Borrowing CompositionAnnual report
「The main increases were ¥3.950 billion in long-term borrowings due within one year and ¥598 million in consumption taxes payable. The main decrease was ¥1.157 billion in notes and accounts payable. Non-current liabilities were ¥13.081 billion, down ¥3.394 billion from the end of the previous consolidated fiscal year. This was mainly due to a ¥3.550 billion decrease in long-term borrowings.」
Long-term borrowings due within one year increased, while long-term borrowings decreased, changing the borrowing structure. No financing difficulties were reported. - FY2026MitigatedAnnual report
「Interest-bearing debt as a percentage of consolidated total assets was 13.0% in the fiscal year ending March 2026.」
The interest-bearing debt ratio declined from 17.3% in the previous fiscal year to 13.0%. The company continues to use project-by-project financing discussions, proceeding with projects after financing approval, and monitoring lending conditions at financial institutions as countermeasures. - 2026-05-12MitigatedFinancial results presentation
「「有利子負債依存度」は、13.0％と低い水準」
有利子負債依存度は前期の17.3％から13.0％へ低下し、有利子負債依存と資金調達支障のリスクに関する財務指標は改善している。 - FY2026-H1Changes in the borrowing structure due to long-term borrowings and repaymentsAnnual report
「The main inflow was ¥2.320 billion in proceeds from long-term borrowings to fund the purchase of business-use land. The main outflows were ¥2.8 billion for repayment of long-term borrowings upon completion of projects and ¥981 million in dividend payments.」
The company took out ¥2.320 billion in long-term borrowings to acquire business-use land, while repaying ¥2.8 billion upon completion of projects. No financing difficulties were reported. - FY2025WorsenedAnnual report
「Interest-bearing debt as a percentage of consolidated total assets was 17.3% in the fiscal year ended March 2025.」
The interest-bearing debt ratio rose from 15.1% in the previous fiscal year to 17.3%. The company continues to disclose measures to mitigate this risk, including monitoring interest-rate trends and lending conditions at financial institutions, arranging project-by-project financing without relying on specific financial institutions, and proceeding with projects after financing approval. - FY2025-H1Increase in long-term borrowings and changes in the borrowing structureAnnual report
「Current liabilities were ¥10.326 billion, down ¥4.883 billion from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥3.253 billion in long-term borrowings due within one year, ¥840 million in notes and accounts payable, and ¥544 million in accrued income taxes. Non-current liabilities were ¥18.533 billion, up ¥6.493 billion from the end of the previous consolidated fiscal year. This was mainly due to a ¥6.430 billion increase in long-term borrowings.」
Long-term borrowings due within one year decreased, while long-term borrowings increased by ¥6.430 billion, changing the composition of current and non-current liabilities. - FY2024-Q3Changes in Borrowing CompositionAnnual report
「At the end of the third quarter, current liabilities were ¥10.749 billion, down ¥2.460 billion from the end of the previous consolidated fiscal year. The main increase was ¥510 million in notes and accounts payable, while the main decreases were ¥3.030 billion in long-term borrowings due within one year and ¥501 million in accrued income taxes. Non-current liabilities were ¥14.694 billion, up ¥1.989 billion from the end of the previous consolidated fiscal year. This was mainly due to a ¥1.935 billion increase in long-term borrowings.」
Long-term borrowings due within one year decreased by ¥3.030 billion, while long-term borrowings increased by ¥1.935 billion, changing the borrowing structure. No financing difficulties were reported. - FY2024-Q2Lower BorrowingsAnnual report
「Net cash used in financing activities was ¥954 million, compared with ¥815 million used in the same quarter of the previous year. The main inflow was ¥2.6 billion in proceeds from long-term borrowings to fund the purchase of business-use land. The main outflows were ¥2.770 billion for repayment of long-term borrowings upon completion of projects and ¥784 million in dividend payments.」
The company borrowed ¥2.6 billion to acquire business-use land, while repaying ¥2.770 billion upon completion of projects, resulting in ¥954 million of cash used in financing activities. - FY2024-Q1Increase in BorrowingsAnnual report
「The main increase was ¥875 million in long-term borrowings due within one year. Non-current liabilities were ¥13.497 billion, up ¥792 million from the end of the previous consolidated fiscal year. The main increase was a ¥775 million increase in long-term borrowings.」
At the end of the first quarter, long-term borrowings due within one year and long-term borrowings had increased from the end of the previous consolidated fiscal year, and total liabilities had also increased. No financing difficulties were reported. - FY2023MitigatedAnnual report
「Interest-bearing debt as a percentage of consolidated total assets was 15.1% in the fiscal year ended March 2023.」
The interest-bearing debt ratio declined from 15.3% in the previous consolidated fiscal year to 15.1%. The company continues to disclose its approach of soliciting financing for each project, proceeding with projects after financing approval, and monitoring lending conditions at financial institutions. - FY2023-Q3Continued Decline in Long-Term BorrowingsAnnual report
「Non-current liabilities were ¥10.579 billion, down ¥2.298 billion from the end of the previous consolidated fiscal year. This was mainly due to a ¥2.385 billion decrease in long-term borrowings.」
Long-term borrowings decreased by ¥2.385 billion from the end of the previous consolidated fiscal year, and non-current liabilities also decreased. No financing difficulties were reported. - FY2023-Q2Continued Decline in Long-Term BorrowingsAnnual report
「Non-current liabilities were ¥10.584 billion, down ¥2.293 billion from the end of the previous consolidated fiscal year. This was mainly due to a ¥2.360 billion decrease in long-term borrowings.」
Long-term borrowings decreased from ¥9.363 billion at the end of the previous consolidated fiscal year to ¥7.003 billion, and non-current liabilities also decreased. No financing difficulties were reported. - FY2023-Q1Lower Long-Term BorrowingsAnnual report
「Non-current liabilities were ¥11.409 billion, down ¥1.468 billion from the end of the previous consolidated fiscal year. This was mainly due to a ¥1.489 billion decrease in long-term borrowings.」
Long-term borrowings decreased by ¥1.489 billion from the end of the previous consolidated fiscal year, and non-current liabilities also decreased. No financing difficulties were reported. - FY2022MitigatedAnnual report
「Interest-bearing debt as a percentage of consolidated total assets was 15.3% for the fiscal year ended March 2022.」
The interest-bearing debt ratio declined from 24.7% in the previous consolidated fiscal year to 15.3%. The filing also continues to describe project-by-project financing requests, proceeding with projects after obtaining approval, and monitoring financing conditions at financial institutions. - FY2022-Q3Continued decrease in borrowingsAnnual report
「This was mainly due to an ¥80.8 million increase in accrued consumption taxes, partly offset by decreases of ¥134.2 million in current maturities of long-term borrowings and ¥50.5 million in notes and accounts payable. Non-current liabilities were ¥1,606.8 million, a decrease of ¥87.3 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥76.4 million decrease in long-term borrowings.」
Current maturities of long-term borrowings decreased by ¥134.2 million and long-term borrowings decreased by ¥76.4 million. It does not state that any difficulty securing financing occurred. - FY2022-Q2Lower BorrowingsAnnual report
「This was due to decreases of ¥134.2 million in current maturities of long-term borrowings, ¥35.9 million in notes and accounts payable and ¥14.8 million in deposits received. Non-current liabilities were ¥1,662.0 million, a decrease of ¥32.1 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥17.9 million in long-term borrowings and ¥15.1 million in provision for directors' retirement benefits.」
Compared with the end of the previous consolidated fiscal year, current maturities of long-term borrowings, long-term borrowings and non-current liabilities all decreased. It does not state that any difficulty securing financing occurred. - FY2022-Q1Lower Long-Term BorrowingsAnnual report
「Non-current liabilities were ¥1,659.4 million, a decrease of ¥34.8 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥35.9 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥35.9 million from the end of the previous consolidated fiscal year. It does not state that any difficulty securing financing occurred or provide a new interest-bearing debt ratio. - FY2021WorsenedAnnual report
「The Group's interest-bearing debt as a percentage of consolidated total assets was 24.7% for the fiscal year ended March 2021.」
The interest-bearing debt ratio rose from 22.3% for the fiscal year ended March 2019 to 24.7%, indicating greater numerical exposure to the risks of higher interest rates and difficulty securing financing. It also describes mitigation measures involving diversification of financing sources and proceeding with projects after obtaining financing approval. - FY2021-Q3RestatedAnnual report
「While current maturities of long-term borrowings decreased by ¥542.5 million, accrued income taxes by ¥166.9 million and short-term borrowings by ¥113.0 million, long-term borrowings increased by ¥577.5 million.」
While short-term borrowings and current maturities of long-term borrowings decreased, long-term borrowings increased, resulting in a change in the borrowing composition. - FY2021-Q2Long-term borrowings increased; short-term borrowings decreasedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, current liabilities were ¥2,082.8 million, a decrease of ¥322.8 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥18.2 million increase in provision for bonuses, more than offset by decreases of ¥168.2 million in current maturities of long-term borrowings, ¥93.0 million in short-term borrowings, ¥75.7 million in accrued income taxes and ¥13.1 million in accrued consumption taxes. Non-current liabilities were ¥1,660.9 million, an increase of ¥426.0 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥421.5 million increase in long-term borrowings.」
While short-term borrowings and current maturities of long-term borrowings decreased, long-term borrowings increased by ¥421.5 million, resulting in a change in the borrowing composition. - FY2021-Q1Changes in Borrowing CompositionAnnual report
「At the end of the first quarter of the current consolidated fiscal year, current liabilities were ¥2,192.7 million, a decrease of ¥212.9 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥42.4 million in current maturities of long-term borrowings and ¥27.9 million in accounts payable, more than offset by decreases of ¥174.8 million in accrued income taxes, ¥63.0 million in short-term borrowings, ¥30.4 million in accrued consumption taxes and ¥22.0 million in notes and accounts payable. Non-current liabilities were ¥1,489.1 million, an increase of ¥254.2 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥252.5 million increase in long-term borrowings.」
While short-term borrowings decreased, current maturities of long-term borrowings and long-term borrowings increased, resulting in a change in the borrowing composition. It does not state that any difficulty securing financing occurred. - FY2020-Q3Changes in Borrowing CompositionAnnual report
「At the end of the third quarter of the current consolidated fiscal year, current liabilities were ¥1,614.3 million, an increase of ¥75.6 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥304.5 million in current maturities of long-term borrowings, ¥121.8 million in short-term borrowings and ¥23.4 million in deposits received, partly offset by decreases of ¥238.2 million in accrued income taxes and ¥72.9 million in notes and accounts payable. Non-current liabilities were ¥1,499.0 million, an increase of ¥263.4 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥248.5 million increase in long-term borrowings.」
Current maturities of long-term borrowings, short-term borrowings and long-term borrowings all increased, resulting in a change in the borrowing composition. It does not state that any difficulty securing financing occurred. - FY2020-Q2Changes in Borrowing CompositionAnnual report
「At the end of the second quarter of the current consolidated fiscal year, current liabilities were ¥1,453.4 million, a decrease of ¥85.2 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥23.3 million in provision for bonuses, ¥17.0 million in current maturities of long-term borrowings and ¥11.8 million in short-term borrowings, more than offset by decreases of ¥66.5 million in accrued income taxes and ¥16.6 million in accounts payable. Non-current liabilities were ¥1,339.6 million, an increase of ¥104.0 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥96.5 million increase in long-term borrowings.」
While current maturities of long-term borrowings, short-term borrowings and long-term borrowings increased, current liabilities decreased, resulting in a change in the borrowing composition. It does not state that any difficulty securing financing occurred. - FY2020-Q1Borrowing balance declinesAnnual report
「This was due to decreases of ¥115.0 million in current maturities of long-term borrowings, ¥63.1 million in notes and accounts payable and ¥33.2 million in short-term borrowings. Non-current liabilities were ¥1,158.6 million, a decrease of ¥76.9 million from the end of the previous consolidated fiscal year. This was mainly due to an ¥80.0 million decrease in long-term borrowings.」
Short-term borrowings, current maturities of long-term borrowings and long-term borrowings all decreased from the end of the previous consolidated fiscal year. - FY2019MitigatedAnnual report
「Interest-bearing debt as a percentage of consolidated total assets was 22.3% for the fiscal year ended March 2019, compared with 24.5% for the fiscal year ended March 2018. Accordingly, if market interest rates rise or the risk premium for the real estate industry or the Company increases, interest expense and other costs may rise, potentially affecting the performance of the Group. When arranging financing, the Group does not depend on specific financial institutions. Instead, it approaches financial institutions for financing on a project-by-project basis and proceeds with each project after obtaining their agreement to provide financing.」
The interest-bearing debt ratio declined from 24.5% to 22.3%, and the Group describes measures involving project-by-project financing requests and proceeding with projects after obtaining financing approval, without depending on specific financial institutions. - FY2019-Q3Changes in Borrowing CompositionAnnual report
「At the end of the third quarter of the current consolidated fiscal year, current liabilities were ¥1,425.6 million, an increase of ¥490.9 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥403.0 million in current maturities of long-term borrowings, ¥50.0 million in short-term borrowings, ¥38.1 million in accrued consumption taxes and ¥28.8 million in deposits received, partly offset by a ¥78.0 million decrease in accrued income taxes. Non-current liabilities were ¥748.4 million, a decrease of ¥725.7 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥728.0 million decrease in long-term borrowings.」
While current maturities of long-term borrowings and short-term borrowings increased, long-term borrowings decreased, resulting in a change in the borrowing composition. It does not state that any difficulty securing financing occurred. - FY2019-Q2Changes in Borrowing CompositionAnnual report
「At the end of the second quarter of the current consolidated fiscal year, current liabilities were ¥1,633.5 million, an increase of ¥698.8 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥558.0 million in current maturities of long-term borrowings, ¥50.0 million in short-term borrowings, ¥40.4 million in accrued income taxes and ¥29.8 million in accrued consumption taxes. Non-current liabilities were ¥856.3 million, a decrease of ¥617.8 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥618.0 million decrease in long-term borrowings.」
While current maturities of long-term borrowings and short-term borrowings increased, long-term borrowings decreased, resulting in a change in the borrowing composition. It does not state that any difficulty securing financing occurred. - FY2019-Q1Changes in Borrowing CompositionAnnual report
「Current liabilities were ¥1,281.1 million, an increase of ¥346.5 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥295.0 million in current maturities of long-term borrowings and ¥50.0 million in short-term borrowings, while non-current liabilities were ¥1,076.4 million due to a ¥395.0 million decrease in long-term borrowings.」
While current maturities of long-term borrowings and short-term borrowings increased, long-term borrowings decreased, resulting in a change in the borrowing composition. It does not state that any difficulty securing financing occurred. - FY2018WorsenedAnnual report
「Interest-bearing debt as a percentage of consolidated total assets was 24.5% for the fiscal year ended March 2018 and 23.1% for the fiscal year ended March 2017.」
The interest-bearing debt ratio rose from 23.1% to 24.5%, indicating greater numerical exposure to the risks of higher interest rates and difficulty securing financing. - FY2018-Q3Changes in Borrowing CompositionAnnual report
「At the end of the third quarter of the current consolidated fiscal year, current liabilities were ¥766.2 million, a decrease of ¥230.7 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥161.3 million in accrued income taxes, ¥50.0 million in short-term borrowings and ¥31.7 million in notes and accounts payable. Non-current liabilities were ¥1,487.6 million, an increase of ¥202.0 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥201.0 million increase in long-term borrowings.」
While short-term borrowings decreased by ¥50.0 million to zero, long-term borrowings increased by ¥201.0 million, resulting in a change in the borrowing composition. It does not state that any difficulty securing financing occurred. - FY2018-Q2Changes in Borrowing CompositionAnnual report
「At the end of the second quarter of the current consolidated fiscal year, current liabilities were ¥1,040.7 million, an increase of ¥43.7 million from the end of the previous consolidated fiscal year. This was mainly due to increases of ¥132.0 million in current maturities of long-term borrowings and ¥16.7 million in provision for bonuses, partly offset by decreases of ¥59.8 million in accrued income taxes, ¥26.4 million in accrued consumption taxes and ¥22.5 million in notes and accounts payable. Non-current liabilities were ¥1,181.3 million, a decrease of ¥104.3 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥104.0 million decrease in long-term borrowings.」
While current maturities of long-term borrowings increased, long-term borrowings decreased, resulting in a change in the borrowing composition. It does not state that any difficulty securing financing occurred. - FY2017RestatedAnnual report
「Interest-bearing debt as a percentage of consolidated total assets was 23.1% for both the fiscal year ended March 2017 and the fiscal year ended March 2016. Accordingly, if market interest rates rise or the risk premium for the real estate industry or the Company increases, interest expense and other costs may rise, potentially affecting the performance of the Group.」
The interest-bearing debt ratio is shown at 23.1%, unchanged from the fiscal year ended March 2016, and the risks of higher interest rates and difficulty securing financing continue to be cited. - FY2017-Q3Changes in Borrowing CompositionAnnual report
「Current liabilities were ¥974.2 million, a decrease of ¥137.7 million from the end of the previous consolidated fiscal year. This was mainly due to decreases of ¥150.0 million in short-term borrowings, ¥55.2 million in accrued income taxes and ¥12.6 million in accounts payable, partly offset by increases of ¥40.0 million in accrued consumption taxes, ¥14.3 million in current maturities of long-term borrowings, ¥11.2 million in deposits received and ¥7.6 million in provision for bonuses. Non-current liabilities were ¥1,031.0 million, an increase of ¥144.7 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥143.9 million in long-term borrowings.」
While short-term borrowings fell to zero, current maturities of long-term borrowings and long-term borrowings increased, resulting in a change in the borrowing composition. It does not state that any difficulty securing financing occurred. - FY2017-Q2Changes in Borrowing CompositionAnnual report
「Current liabilities were ¥1,067.6 million, a decrease of ¥44.3 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥65.0 million increase in current maturities of long-term borrowings, while short-term borrowings decreased by ¥150.0 million. Non-current liabilities were ¥1,064.9 million, an increase of ¥178.6 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥179.4 million in long-term borrowings.」
While short-term borrowings decreased, long-term borrowings increased, resulting in changes in the borrowing composition and balance. It does not state that any difficulty securing financing occurred. - FY2017-Q1Borrowing balance changedAnnual report
「Non-current liabilities were ¥1,150 million, an increase of ¥263.7 million from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥264.7 million in long-term borrowings.」
While short-term borrowings decreased, long-term borrowings increased. It does not state that any difficulty securing financing occurred. - FY2016First statedAnnual report
「Interest-bearing debt as a percentage of consolidated total assets was 23.1% for the fiscal year ended March 2016 and 21.3% for the fiscal year ended March 2015.」
It states that the acquisition of land for business purposes depends on borrowings from financial institutions, and that higher interest rates or difficulty securing financing could affect performance.