Substantial Interest-Bearing Debt and Market Interest Rate Fluctuations
First written in FY2016. 23 of 31 entries say "Worsened", first in FY2019-Q1. Latest entry: 2026-11-05.
The whole theme swung hardest in 2020: 64 of 142 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「Interest-rate and funding-cost increases The Group has a highly leveraged financial structure in order to undertake substantial capital investment and redevelopment projects. Higher market interest rates and funding costs could affect interest expense and investment returns, potentially reducing earnings and worsening the funding environment.」
The Group identified the risks of higher interest rates and funding costs as among its most significant risks, and interest-bearing debt also increased. - FY2026-H1WorsenedAnnual report
「In addition, interest-bearing debt, comprising borrowings and bonds, totaled ¥425.275 billion, an increase of ¥9,806 million.」
The balance of interest-bearing debt increased by ¥9,806 million from the end of the previous consolidated fiscal year, expanding exposure to fluctuations in market interest rates. - FY2025ReframedAnnual report
「The Group operates businesses requiring substantial capital investment and obtains most of the necessary funds through bonds and borrowings from financial institutions. As of 31 March 2025, interest-bearing debt stood at ¥415.468 billion, equivalent to 54.9% of total assets. The Group is working to convert its interest-bearing debt to fixed-rate debt wherever possible and to limit the risk of interest-rate fluctuations, but」
Although interest-bearing debt increased, the ratio to total assets declined from 55.6% in the previous fiscal year to 54.9%. Measures to limit the impact through conversion to fixed-rate debt continue to be explicitly stated. - FY2025-H1WorsenedAnnual report
「The balance of interest-bearing debt, comprising borrowings and bonds, increased by ¥7.385 billion to ¥405.261 billion.」
The balance of substantial interest-bearing debt exposed to fluctuations in market interest rates increased by ¥7,385 million from the end of the previous consolidated fiscal year. An increase in risk exposure was disclosed. quantified:true, materialized:false. - FY2024WorsenedAnnual report
「The Group operates businesses requiring substantial capital investment and obtains most of the necessary funds through bonds and borrowings from financial institutions. As of 31 March 2024, interest-bearing debt stood at ¥397.875 billion, equivalent to 55.6% of total assets.」
Interest-bearing debt stood at 55.6% of total assets, or ¥397.875 billion, expanding exposure to interest-rate fluctuations. - FY2024-Q3WorsenedAnnual report
「The balance of interest-bearing debt, comprising borrowings and bonds, increased by ¥16.7 billion to ¥371.934 billion.」
The balance of substantial interest-bearing debt exposed to interest-rate fluctuations increased by ¥16,703 million, expanding the exposure. - FY2024-Q2WorsenedAnnual report
「The balance of interest-bearing debt, comprising borrowings and bonds, increased by ¥8.86 billion to ¥364.16 billion.」
The balance of substantial interest-bearing debt exposed to fluctuations in market interest rates increased by ¥8,886 million from the end of the previous consolidated fiscal year. - FY2024-Q1WorsenedAnnual report
「The balance of interest-bearing debt, comprising borrowings and bonds, increased by ¥9.61 billion to ¥364.83 billion.」
Substantial interest-bearing debt that may be affected by market interest rate fluctuations increased by ¥9.601 billion from the end of the previous consolidated fiscal year. - FY2023ReframedAnnual report
「The Group operates businesses requiring substantial capital investment and obtains much of the necessary funding through bonds and borrowings from financial institutions. Interest-bearing debt stood at ¥355.23 billion as of the end of March 2023, equivalent to 54.9% of total assets. The Group is working to convert as much of its interest-bearing debt as possible to fixed-rate financing and to mitigate the risk of interest rate fluctuations.」
Although interest-bearing debt increased year on year, its ratio to total assets declined from 56.6% to 54.9%, and measures to mitigate the risk through fixed-rate financing, monitoring and hedging were explicitly disclosed. - FY2023-Q3WorsenedAnnual report
「The balance of interest-bearing debt, comprising borrowings and bonds, increased by ¥15.43 billion to ¥368.54 billion.」
Interest-bearing debt increased by ¥15.403 billion from the end of the previous consolidated fiscal year, indicating an increase in the exposure that may be affected by market interest rate fluctuations. - FY2023-Q2WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, totaled ¥372.462 billion, an increase of ¥19.311 billion.」
Substantial interest-bearing debt increased by ¥19.311 billion from the end of the previous consolidated fiscal year, indicating an increase in the exposure that may be affected by market interest rate fluctuations. - FY2023-Q1WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, totaled ¥376.511 billion, an increase of ¥23.361 billion.」
Substantial interest-bearing debt increased by ¥23.361 billion from the end of the previous consolidated fiscal year. - FY2022WorsenedAnnual report
「Interest-bearing debt stood at ¥353.15 billion as of the end of March 2022, equivalent to 56.6% of total assets.」
The ratio of interest-bearing debt to total assets and the debt balance were disclosed, with the balance increasing from the previous fiscal year. Measures to mitigate the risk, including fixed-rate financing, monitoring and hedging, were also described. - FY2022-Q3WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, stood at ¥347.216 billion, an increase of ¥2.519 billion.」
Interest-bearing debt increased by ¥2.519 billion from the end of the previous consolidated fiscal year, indicating an increase in the scale of substantial interest-bearing debt and market interest rate fluctuation risk. - FY2022-Q2WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, totaled ¥351.808 billion, an increase of ¥7.111 billion.」
Interest-bearing debt increased by ¥7.111 billion from the end of the previous consolidated fiscal year, indicating a deterioration in the metrics related to substantial interest-bearing debt and market interest rate fluctuation risk. - FY2022-Q1MitigatedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, totaled ¥343.445 billion, a decrease of ¥1.252 billion.」
Interest-bearing debt declined by ¥1.252 billion from the end of the previous consolidated fiscal year, reducing the latest reported level of substantial interest-bearing debt. - FY2021-Q3WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, totaled ¥356.886 billion, an increase of ¥30.871 billion.」
Interest-bearing debt increased by ¥30.871 billion from the end of the previous consolidated fiscal year, indicating an increase in the scale of interest-bearing debt and the risk from market interest rate fluctuations. - FY2021-Q2MitigatedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, totaled ¥372.374 billion, an increase of ¥46.36 billion.」
Interest-bearing debt increased by ¥46.360 billion from the end of the previous consolidated fiscal year but declined from the previous quarter-end balance. - FY2021-Q1WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, totaled ¥374.937 billion, an increase of ¥48.922 billion.」
Interest-bearing debt increased by ¥48.922 billion from the end of the previous consolidated fiscal year to ¥374.937 billion. - FY2020-Q3WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, totaled ¥334.581 billion, an increase of ¥13.1 billion.」
Interest-bearing debt increased by ¥13.1 billion from the end of the previous consolidated fiscal year to ¥334.581 billion. - FY2020-Q2MitigatedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, totaled ¥318.481 billion, a decrease of ¥2.999 billion.」
Interest-bearing debt remained substantial but declined by ¥2.999 billion from the end of the previous consolidated fiscal year. - FY2020-Q1WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, stood at ¥326.121 billion, an increase of ¥4.639 billion.」
Interest-bearing debt increased by ¥4.639 billion from the end of the previous consolidated fiscal year to ¥326.121 billion. - FY2019WorsenedAnnual report
「Interest-bearing debt stood at ¥321.481 billion as of the end of March 2019, equivalent to 52.6% of total assets. Accordingly, the Group's performance may be affected by future fluctuations in market interest rates.」
Interest-bearing debt stood at ¥321.481 billion, or 52.6% of total assets, and the risk of interest rate fluctuations affecting business performance continued to be explicitly disclosed. - FY2019-Q3WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, stood at ¥311.332 billion, an increase of ¥1.053 billion.」
Interest-bearing debt increased by ¥1.053 billion from the end of the previous consolidated fiscal year to ¥311.332 billion. - FY2019-Q2WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, stood at ¥315.815 billion, an increase of ¥5.536 billion.」
Interest-bearing debt increased by ¥5.536 billion from the end of the previous consolidated fiscal year to ¥315.815 billion. - FY2019-Q1WorsenedAnnual report
「Interest-bearing debt, comprising borrowings and bonds, stood at ¥311.029 billion, an increase of ¥750 million.」
Interest-bearing debt increased by ¥750 million from the end of the previous consolidated fiscal year to ¥311.029 billion. - FY2017MitigatedAnnual report
「The Group operates businesses requiring substantial capital investment, such as railway operations and real estate leasing. Interest-bearing debt stood at ¥309.799 billion as of the end of March 2017, equivalent to 53.4% of total assets. Accordingly, the Group's performance may be affected by future fluctuations in market interest rates.」
Interest-bearing debt and its ratio to total assets declined from ¥314.856 billion and 55.9% in the previous fiscal year, respectively, but the risk of interest rate fluctuations continued to be disclosed. - FY2016First statedAnnual report
「Interest-bearing debt stood at ¥314.856 billion as of the end of March 2016, equivalent to 55.9% of total assets. Accordingly, the Group's performance may be affected by future fluctuations in market interest rates.」
The risk arising from the scale of debt associated with capital-intensive businesses and the impact of interest rate fluctuations was explicitly disclosed.