Improving financial strength with a focus on the balance between interest-bearing debt and cash flow
First written in FY2016. 19 of 35 entries say "Advanced", first in FY2017. Latest entry: 2026-07-30.
The whole theme swung hardest in 2025: 3 of 12 companies on the "Worse" side.
0 other companies' latest entry also says "Worsened".
- 2026-07-30WorsenedPresentation materials on financial results
「Net interest-bearing debt / EBITDA multiple 7.4x 6.1x 1.3pt」
The net interest-bearing debt/EBITDA multiple in the fiscal 2026 earnings forecast was 7.4x, expected to exceed the fiscal 2025 result of 6.1x, as reconfirmed. - FY2026AdvancedAnnual report
「The status of each indicator at the end of the current consolidated fiscal year and the numerical targets set out in the “NANKAI Group Medium-Term Management Plan 2025－2027” are as follows. Management indicators Fiscal 2025 (actual) Fiscal 2027 (target) Operating profit ¥39.9 billion ¥42.0 billion or more Net interest-bearing debt/EBITDA (*1) multiple 6.1x 7x range ROE 7.8% 7% or more」
As the first-year results of the new medium-term plan, operating profit of ¥39.9 billion, a net interest-bearing debt/EBITDA multiple of 6.1x and ROE of 7.8% were disclosed, showing progress toward the fiscal 2027 targets. - FY2026-H1ReframedAnnual report
「During the 3 years toward achieving the “NANKAI Group Medium-Term Management Plan 2025-2027,” based on the improvement in the financial structure, the Group will accelerate investments to expand earnings and investments in safety and renewal while securing fundamental financial soundness.」
Based on the improvement in the financial structure, the framework has been reorganized from the previous emphasis on balancing interest-bearing debt and cash flow to one that accelerates investment while securing fundamental financial soundness. - FY2025-H1AdvancedAnnual report
「In liabilities, total liabilities decreased by ¥32.009 billion from the end of the previous consolidated fiscal year to ¥611.539 billion, mainly due to decreases in the balance of interest-bearing debt and other current liabilities resulting from a decrease in accounts payable.」
Total liabilities decreased by ¥32.009 billion from the end of the previous consolidated fiscal year due to a decrease in the balance of interest-bearing debt and other items. Performance related to the policy of improving the financial structure progressed. - FY2024AdvancedAnnual report
「Management indicators Fiscal 2023 (actual) Fiscal 2024 (target) Operating profit (*1) ¥32.0 billion ¥28.0 billion Net interest-bearing debt/EBITDA multiple (*2) 6.5x 7.5x or less」
Fiscal 2023 results under the Co-Creation 140 Plan were operating profit of ¥32.0 billion and a net interest-bearing debt/EBITDA multiple of 6.5x, showing progress toward the fiscal 2024 target. - FY2024-Q3AdvancedAnnual report
「In liabilities, despite an increase in other current liabilities due to an increase in advances received, total liabilities decreased by ¥33.158 billion from the end of the previous consolidated fiscal year to ¥627.368 billion, mainly due to a decrease in the balance of interest-bearing debt.」
Total liabilities decreased by ¥33.158 billion from the end of the previous consolidated fiscal year due to a decrease in the balance of interest-bearing debt and other items. Performance related to the policy of improving the financial structure progressed. - FY2024-Q2AdvancedAnnual report
「In liabilities, despite an increase in other current liabilities due to an increase in advances received, total liabilities decreased by ¥19.334 billion from the end of the previous consolidated fiscal year to ¥641.192 billion, mainly due to a decrease in the balance of interest-bearing debt. Cash flow from operating activities for the first six months of the current consolidated fiscal year increased by ¥5.367 billion from the first six months of the previous consolidated fiscal year, mainly due to an increase in profit before income taxes, resulting in an inflow of ¥20.739 billion.」
Total liabilities decreased by ¥19.334 billion from the end of the previous consolidated fiscal year due to a decrease in the balance of interest-bearing debt, while cash flow from operating activities also increased to ¥20.739 billion. Performance related to the policy of improving the financial structure progressed. - FY2024-Q1AdvancedAnnual report
「In liabilities, despite an increase in other current liabilities due to an increase in advances received, total liabilities decreased by ¥12.448 billion from the end of the previous consolidated fiscal year to ¥648.078 billion, mainly due to a decrease in the balance of interest-bearing debt.」
Total liabilities decreased by ¥12.448 billion from the end of the previous consolidated fiscal year due to a decrease in the balance of interest-bearing debt and other items, updating performance related to the policy of improving the financial structure. - FY2023AdvancedAnnual report
「Management indicators Fiscal 2022 (actual) Fiscal 2024 (target) Operating profit (*1) ¥22.0 billion ¥28.0 billion Net interest-bearing debt/EBITDA multiple (*2) 8.8x 7.5x or less」
As the first-year results of the Co-Creation 140 Plan, operating profit of ¥22.0 billion and a net interest-bearing debt/EBITDA multiple of 8.8x were disclosed, showing progress toward the fiscal 2024 targets. The balance of interest-bearing debt also decreased by ¥7.972 billion. - FY2023-Q3AdvancedAnnual report
「In liabilities, total liabilities decreased by ¥12.696 billion from the end of the previous consolidated fiscal year to ¥647.563 billion, mainly due to decreases in the balance of interest-bearing debt and notes and accounts payable.」
Total liabilities decreased by ¥12.696 billion from the end of the previous consolidated fiscal year due to a decrease in the balance of interest-bearing debt and other items. This was an update on performance related to the policy of improving the financial structure. - FY2023-Q2AdvancedAnnual report
「In liabilities, total liabilities decreased by ¥9.888 billion from the end of the previous consolidated fiscal year to ¥650.372 billion, mainly due to decreases in the balance of interest-bearing debt and notes and accounts payable. Cash flow from operating activities for the first six months of the current consolidated fiscal year increased by ¥1.846 billion from the first six months of the previous consolidated fiscal year, mainly due to an increase in profit before income taxes, resulting in an inflow of ¥15.371 billion.」
Total liabilities decreased by ¥9.888 billion from the end of the previous consolidated fiscal year due to a decrease in the balance of interest-bearing debt and other items, while cash flow from operating activities was an inflow of ¥15.371 billion. - FY2022AdvancedAnnual report
「Management indicators Fiscal 2021 (actual) Fiscal 2024 (target) Operating profit (*1) ¥12.9 billion ¥28.0 billion Net interest-bearing debt/EBITDA multiple (*2) 10.7x 7.5x or less」
Actual fiscal 2021 results were operating profit of ¥12.9 billion and a net interest-bearing debt/EBITDA multiple of 10.7x, while fiscal 2024 targets were operating profit of ¥28.0 billion and a multiple of 7.5x or less. Net interest-bearing debt in fiscal 2021 was ¥446.0 billion, compared with the target of ¥456.0 billion. - FY2022-Q3AdvancedAnnual report
「In liabilities, total liabilities decreased by ¥39.918 billion from the end of the previous consolidated fiscal year to ¥663.741 billion, mainly due to a decrease in other current liabilities following completion of the elevated continuous crossing construction project on the up line in Takaishi City, as well as a decrease in the balance of interest-bearing debt.」
Total liabilities decreased by ¥39.918 billion from the end of the previous consolidated fiscal year due to a decrease in the balance of interest-bearing debt and other items. This was an update on performance related to the policy of improving the financial structure. - FY2022-Q2AdvancedAnnual report
「In liabilities, total liabilities decreased by ¥43.404 billion from the end of the previous consolidated fiscal year to ¥660.255 billion, mainly due to a decrease in other current liabilities following completion of the elevated continuous crossing construction project on the up line in Takaishi City, as well as a decrease in the balance of interest-bearing debt.」
Total liabilities decreased by ¥43.404 billion from the end of the previous consolidated fiscal year due to a decrease in the balance of interest-bearing debt and other items. This was an update on performance related to the policy of improving the financial structure. - FY2022-Q1AdvancedAnnual report
「In liabilities, total liabilities decreased by ¥35.176 billion from the end of the previous consolidated fiscal year to ¥668.483 billion, mainly due to a decrease in other current liabilities following completion of the elevated continuous crossing construction project on the up line in Takaishi City, as well as a decrease in the balance of interest-bearing debt.」
Total liabilities decreased by ¥35.176 billion from the end of the previous consolidated fiscal year due to completion of the elevated continuous crossing construction project in Takaishi City and a decrease in the balance of interest-bearing debt. The balance of interest-bearing debt also decreased from the end of the previous fiscal year. - FY2021-Q3Third-quarter update on interest-bearing debt and liquidityAnnual report
「In liabilities, total liabilities increased by ¥59.913 billion from the end of the previous consolidated fiscal year to ¥728.968 billion, mainly due to an increase in the balance of interest-bearing debt.」
To secure funds on hand in response to the spread of COVID-19, total liabilities, including the balance of interest-bearing debt, increased by ¥59.913 billion from the end of the previous consolidated fiscal year. - FY2021-Q2First-half update on interest-bearing debt and liquidityAnnual report
「In liabilities, despite decreases in other current liabilities due to a decrease in accounts payable and other items, total liabilities increased by ¥60.191 billion from the end of the previous consolidated fiscal year to ¥729.245 billion, mainly due to an increase in the balance of interest-bearing debt. Cash flow from financing activities increased by ¥75.349 billion from the first six months of the previous fiscal year, mainly due to the issuance of bonds and an increase in long-term borrowings, resulting in an inflow of ¥62.779 billion.」
The balance of interest-bearing debt increased by ¥60.191 billion from the end of the previous consolidated fiscal year, mainly to secure funds on hand in response to the spread of COVID-19. Cash flow from financing activities was an inflow of ¥62.779 billion. - FY2021-Q1Financial position update due to increase in interest-bearing debtAnnual report
「In liabilities, total liabilities increased by ¥45.809 billion from the end of the previous consolidated fiscal year to ¥714.863 billion, mainly due to an increase in the balance of interest-bearing debt.」
Against the backdrop of measures to address the sharp decline in cash inflows caused by the COVID-19 pandemic, the disclosure reported an increase in total liabilities, including an increase in the balance of interest-bearing debt. - FY2020AdvancedAnnual report
「Management indicators Previous fiscal year (fiscal 2018) Current fiscal year (fiscal 2019) Operating profit (*1) ¥28.7 billion ¥36.1 billion Interest-bearing debt/EBITDA multiple 8.5x 7.2x」
Operating profit increased from ¥28.7 billion to ¥36.1 billion, while the interest-bearing debt/EBITDA multiple decreased from 8.5x to 7.2x. The balance of interest-bearing debt also decreased by ¥1.0699 billion from the end of the previous fiscal year, while cash flow from operating activities was ¥5.8935 billion. - FY2020-Q3AdvancedAnnual report
「In liabilities, total liabilities decreased by ¥11.056 billion from the end of the previous consolidated fiscal year to ¥665.767 billion, mainly due to decreases in interest-bearing debt and notes and accounts payable.」
Total liabilities decreased by ¥11.056 billion from the end of the previous consolidated fiscal year due to decreases in interest-bearing debt and other items. This was an update on performance related to the policy of improving the financial structure. - FY2020-Q2AdvancedAnnual report
「In liabilities, despite increases in advances received and other items under other current liabilities, total liabilities decreased by ¥9.839 billion from the end of the previous consolidated fiscal year to ¥666.984 billion, mainly due to decreases in notes and accounts payable and interest-bearing debt.」
The balance of interest-bearing debt decreased from the end of the previous consolidated fiscal year, and total liabilities also decreased by ¥9.839 billion. Cash flow from operating activities increased from ¥1.2051 billion in the same period of the previous year to ¥3.2146 billion. - FY2020-Q1AdvancedAnnual report
「In liabilities, despite increases in advances received and other items under other current liabilities, total liabilities decreased by ¥3.325 billion from the end of the previous consolidated fiscal year to ¥673.497 billion, mainly due to decreases in notes and accounts payable and interest-bearing debt.」
The balance of interest-bearing debt decreased from the end of the previous consolidated fiscal year, and total liabilities also decreased by ¥3.325 billion. This was an update on performance related to the policy of improving the financial structure. - FY2019Increase in interest-bearing debt and decrease in operating cash flowAnnual report
「Total liabilities at the end of the consolidated fiscal year were ¥676.823 billion, an increase of ¥7.612 billion from the end of the previous consolidated fiscal year. This was mainly due to an increase of ¥18.752 billion in interest-bearing debt resulting from higher investment, despite a decrease of ¥7.698 billion in other current liabilities due to decreases in accounts payable and the redemption of commercial paper, as well as a decrease of ¥5.308 billion in deferred tax liabilities.」
Interest-bearing debt increased by ¥18.752 billion due to higher investment. Cash flow from operating activities also decreased from ¥5.8477 billion in the previous fiscal year to ¥3.8729 billion. - FY2019-Q3Third-quarter financial position update (increase in interest-bearing debt)Annual report
「In liabilities, despite decreases in income taxes payable and other items, interest-bearing debt increased due to higher investment, resulting in total liabilities of ¥672.410 billion, an increase of ¥3.199 billion from the end of the previous consolidated fiscal year.」
Interest-bearing debt increased by ¥3.199 billion from the end of the previous consolidated fiscal year due to higher investment. - FY2019-Q2Increase in interest-bearing debt associated with investmentAnnual report
「In liabilities, despite decreases in notes and accounts payable and other items, interest-bearing debt increased due to higher investment, resulting in total liabilities of ¥669.609 billion, an increase of ¥398 million from the end of the previous consolidated fiscal year.」
Interest-bearing debt increased by ¥398 million from the end of the previous consolidated fiscal year due to higher investment. - FY2018AdvancedAnnual report
「Cash provided by operating activities totaled ¥58.477 billion, compared with ¥42.753 billion in the previous consolidated fiscal year.」
Cash flows from operating activities increased from ¥42.753 billion to ¥58.477 billion. Borrowings also decreased by ¥18.297 billion from the end of the previous fiscal year. - FY2018-Q3RestatedAnnual report
「To achieve sustainable corporate growth through these initiatives, we intend to expand revenue by reliably turning business opportunities into results, while also improving financial strength with an emphasis on the balance between interest-bearing debt and cash flow. As a unified group, we aim to establish a stable management foundation and improve and maximize corporate value over the medium to long term.」
The company has reaffirmed its pursuit of both revenue growth and improvement in financial strength, with an emphasis on the balance between interest-bearing debt and cash flow. - FY2018-Q2RestatedAnnual report
「To achieve sustainable corporate growth through these initiatives, we intend to expand revenue by reliably turning business opportunities into results, while also improving financial strength with an emphasis on the balance between interest-bearing debt and cash flow. As a unified group, we aim to establish a stable management foundation and improve and maximize corporate value over the medium to long term.」
The company has reaffirmed its pursuit of both revenue growth and improvement in financial strength, with an emphasis on the balance between interest-bearing debt and cash flow. - FY2017AdvancedAnnual report
「Borrowings and bonds outstanding at the end of the current consolidated fiscal year totaled ¥478.198 billion, a decrease of ¥5.962 billion, or 1.2%, from the end of the previous consolidated fiscal year.」
In line with the policy of prioritizing the balance between interest-bearing debt and cash flow, borrowings and bonds outstanding decreased 1.2% from the end of the previous fiscal year. Cash flows from operating activities totaled ¥42.753 billion. - FY2017-Q3RestatedAnnual report
「To achieve sustainable corporate growth through these initiatives, we intend to expand revenue by reliably turning business opportunities into results, while also improving financial strength with an emphasis on the balance between interest-bearing debt and cash flow. As a unified group, we aim to establish a stable management foundation and maximize corporate value.」
The company has reaffirmed its pursuit of both revenue growth and improvement in financial strength, with an emphasis on the balance between interest-bearing debt and cash flow. - FY2017-Q2RestatedAnnual report
「To achieve sustainable corporate growth through these initiatives, we intend to expand revenue by reliably turning business opportunities into results, while also improving financial strength with an emphasis on the balance between interest-bearing debt and cash flow. As a unified group, we aim to establish a stable management foundation and maximize corporate value.」
The company continues to pursue both revenue growth and improvement in financial strength, with an emphasis on the balance between interest-bearing debt and cash flow. - FY2016First statedAnnual report
「We intend to achieve both an improvement in financial strength that prioritizes the balance between interest-bearing debt and cash flow and our group's unified efforts to establish a stable management foundation and maximize corporate value.」
The company is pursuing both revenue growth and improvement in financial strength.