Earnings impact of rising interest rates and reliance on borrowings
First written in FY2016. 9 of 27 entries say "Mitigated", first in FY2020. Latest entry: 2026-11-06.
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
- 2026-11-06MitigatedResults
「固定負債は、前連結会計年度末に比べて4.6％減少し、6,570百万円となりました。これは長期借入金が343百万円減少したことなどが要因であります。」
長期借入金および固定負債が減少し、借入エクスポージャーの縮小を示している。 - FY2026ReframedAnnual report
「To minimize the impact of rising interest rates on business performance, we are working to diversify our funding sources and stagger funding maturities.」
The discussion of measures to address interest rate risk has shifted from relying on long-term fixed-rate borrowings to emphasizing diversified funding sources and staggered funding maturities. - 2026-05-15RestatedResults
「Because funds for land acquisitions, building construction and other purposes are obtained mainly through long- and short-term borrowings from financial institutions, borrowings account for a high proportion of total assets. As capital investments require a long time to recover, higher interest rates may affect business performance.」
借入金比率の高さと金利上昇による業績影響の可能性を、事業等のリスクとして継続して記載している。 - FY2026-H1MitigatedAnnual report
「Non-current liabilities decreased 5.0% from the end of the previous consolidated fiscal year to ¥6,796 million. This was mainly due to a ¥376 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥376 million, and non-current liabilities also decreased 5.0% from the end of the previous fiscal year, reducing borrowing exposure. - FY2025-H1MitigatedAnnual report
「Non-current liabilities decreased 4.6% from the end of the previous consolidated fiscal year to ¥7,594 million. This was mainly due to a ¥364 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥364 million, and non-current liabilities also decreased 4.6% from the end of the previous fiscal year, reducing borrowing exposure. - FY2024MitigatedAnnual report
「Non-current liabilities decreased 11.1% from the end of the previous consolidated fiscal year to ¥7,960 million. This was mainly due to a ¥942 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥942 million, and non-current liabilities also decreased 11.1%, reducing borrowing exposure. - FY2024-Q3MitigatedAnnual report
「Non-current liabilities decreased 8.8% from the end of the previous consolidated fiscal year to ¥8,164 million. This was mainly due to a ¥757 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥757 million, and non-current liabilities also decreased 8.8% from the end of the previous fiscal year, reducing borrowing exposure. - FY2024-Q2MitigatedAnnual report
「Non-current liabilities decreased 4.7% from the end of the previous consolidated fiscal year to ¥8,535 million. This was mainly due to a ¥416 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥416 million, and non-current liabilities also decreased 4.7% from the end of the previous consolidated fiscal year, reducing borrowing exposure. - FY2024-Q1MitigatedAnnual report
「Non-current liabilities decreased 2.4% from the end of the previous consolidated fiscal year to ¥8,736 million. This was mainly due to a ¥210 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥210 million, and non-current liabilities also decreased 2.4% from the end of the previous consolidated fiscal year, reducing borrowing exposure. - FY2023-Q3Increase in long-term borrowings and non-current liabilitiesAnnual report
「Non-current liabilities increased 4.9% from the end of the previous consolidated fiscal year to ¥8,726 million. This was mainly due to a ¥363 million increase in long-term borrowings.」
Long-term borrowings increased by ¥363 million, while non-current liabilities also increased 4.9% from the end of the previous fiscal year. - FY2023-Q2Increase in long-term borrowings and non-current liabilitiesAnnual report
「Non-current liabilities increased 7.0% from the end of the previous consolidated fiscal year to ¥8,903 million. This was mainly due to a ¥568 million increase in long-term borrowings.」
Long-term borrowings increased by ¥568 million and non-current liabilities by 7.0%, reversing the decline in long-term borrowings recorded in the previous quarter. - FY2023-Q1MitigatedAnnual report
「Non-current liabilities decreased 2.3% from the end of the previous consolidated fiscal year to ¥8,123 million, mainly due to a ¥195 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥195 million, while non-current liabilities also decreased 2.3% from the previous fiscal year-end. Exposure to long-term borrowings contracted during the quarter. - FY2022Continued Increase in Long-Term BorrowingsAnnual report
「Non-current liabilities increased 19.0% from the end of the previous consolidated fiscal year to ¥8,318 million, mainly due to a ¥1,511 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,511 million, while non-current liabilities also increased 19.0% from the previous fiscal year-end. The Company also states its policy of financing long-term funds with fixed-rate long-term borrowings. - FY2022-Q3Continued Increase in Long-Term BorrowingsAnnual report
「Non-current liabilities increased 22.4% from the end of the previous consolidated fiscal year to ¥8,560 million, mainly due to a ¥1,710 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,710 million, while non-current liabilities also increased 22.4% from the previous fiscal year-end. Borrowing exposure continues to increase. - FY2022-Q2Continued Increase in Long-Term BorrowingsAnnual report
「Non-current liabilities increased 25.0% from the end of the previous consolidated fiscal year to ¥8,741 million, mainly due to a ¥1,899 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,899 million, while non-current liabilities also increased 25.0%, indicating that borrowing exposure continues to increase. - FY2022-Q1Continued Increase in Long-Term BorrowingsAnnual report
「Non-current liabilities increased 16.1% from the end of the previous consolidated fiscal year to ¥8,120 million, mainly due to a ¥1,338 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,338 million, while non-current liabilities also increased 16.1% from the previous fiscal year-end. Borrowing exposure continues to increase. - FY2021Continued Increase in Long-Term BorrowingsAnnual report
「Non-current liabilities increased 40.4% from the end of the previous consolidated fiscal year to ¥6,992 million, mainly due to a ¥1,966 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,966 million, while non-current liabilities also increased 40.4%. The Company also describes the use of fixed-rate long-term borrowings to address higher interest rates. - FY2021-Q3Continued Increase in Long-Term BorrowingsAnnual report
「Non-current liabilities increased 35.4% from the end of the previous consolidated fiscal year to ¥6,744 million, mainly due to a ¥1,670 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,670 million, while non-current liabilities also increased 35.4% from the previous fiscal year-end. The figures indicate increased borrowing exposure. - FY2021-Q2Continued Increase in Long-Term BorrowingsAnnual report
「Non-current liabilities increased 22.0% from the end of the previous consolidated fiscal year to ¥6,079 million, mainly due to a ¥1,040 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,040 million, while non-current liabilities also increased 22.0% from the previous fiscal year-end. The figures indicate increased borrowing exposure. - FY2021-Q1Increase in long-term debtAnnual report
「Non-current liabilities increased 24.3% from the end of the previous consolidated fiscal year to ¥6,190 million, mainly due to a ¥1,194 million increase in long-term borrowings.」
Long-term borrowings increased by ¥1,194 million, while non-current liabilities also increased 24.3% from the end of the previous fiscal year-end. - FY2020MitigatedAnnual report
「To minimize the impact of higher interest rates on business performance, the Company seeks to obtain long-term borrowings at fixed interest rates.」
The Company explicitly states that it addresses interest-rate risk by obtaining long-term borrowings at fixed interest rates. - FY2020-Q3Short-term borrowings increased and long-term borrowings decreasedAnnual report
「Current liabilities increased 9.3% from the end of the previous consolidated fiscal year to ¥5,783 million, mainly due to a ¥661 million increase in short-term borrowings. Non-current liabilities decreased 8.2% to ¥4,947 million, mainly due to a ¥476 million decrease in long-term borrowings resulting from repayments.」
Short-term borrowings increased by ¥661 million, while long-term borrowings decreased by ¥476 million, resulting in a change in the borrowing structure. - FY2020-Q2Short-term borrowings increased and long-term borrowings decreasedAnnual report
「Current liabilities increased 1.9% from the end of the previous consolidated fiscal year to ¥5,391 million, mainly due to a ¥199 million increase in short-term borrowings. Non-current liabilities decreased 5.8% to ¥5,077 million, mainly due to a ¥334 million decrease in long-term borrowings resulting from repayments.」
Short-term borrowings increased by ¥199 million, while long-term borrowings decreased by ¥334 million, resulting in a change in the borrowing structure. - FY2020-Q1Short-term borrowings increased and long-term borrowings decreasedAnnual report
「Current liabilities increased 6.1% from the end of the previous consolidated fiscal year to ¥5,615 million, mainly due to a ¥166 million increase in short-term borrowings. Non-current liabilities decreased 3.2% to ¥5,215 million, mainly due to a ¥169 million decrease in long-term borrowings.」
Short-term borrowings increased by ¥166 million, while long-term borrowings decreased by ¥169 million, resulting in a change in the borrowing structure. - FY2019-Q3Increase in BorrowingsAnnual report
「Current liabilities increased 0.7% from the end of the previous consolidated fiscal year to ¥5,340 million. This was mainly due to a ¥232 million increase in short-term borrowings. Non-current liabilities increased 12.6% to ¥5,411 million, mainly due to a ¥590 million increase in long-term borrowings.」
Short-term borrowings increased by ¥232 million and long-term borrowings by ¥590 million, quantitatively expanding the financial exposure associated with reliance on borrowings. - FY2018RestatedAnnual report
「Because funds for land acquisitions, building construction and other purposes are obtained mainly through long- and short-term borrowings from financial institutions, borrowings account for a high proportion of total assets. As capital investments require a long time to recover, higher interest rates may affect business performance.」
The Company continues to disclose the high level of reliance on borrowings and the potential impact of higher interest rates on business performance. - FY2016First statedAnnual report
「Because funds for land acquisitions, building construction and other purposes are obtained mainly through long- and short-term borrowings from financial institutions, borrowings account for a high proportion of total assets. As capital investments require a long time to recover, higher interest rates may affect business performance.」
The Company links its use of borrowings to finance real estate and logistics-facility investments with the risk of higher interest rates.