Strengthening Financial Condition and Reducing Interest-Bearing Debt
First written in FY2016. 8 of 39 entries say "Advanced", first in FY2017. Latest entry: 2026-08-10.
23 other companies' latest entry also says "Worsened".
- 2026-08-10WorsenedEarnings presentation
「連結有利子負債合計 709,950 688,310 21,640 〔参考〕純有利子負債残高 667,236 （前期末比 +36,217）」
純有利子負債残高が前期末比で増加し、財務体質の強化と有利子負債削減のテーマに対して悪化方向の実績を示した。 - FY2026Increase in interest-bearing debt; leverage target not metAnnual report
「Net debt/EBITDA※ 6.3x 7.6x 6.7x 6x range」
Net debt/EBITDA was 7.6x based on actual results for fiscal 2025, exceeding the target of the “6x range” for fiscal 2026. The ratio rose from 6.3x in the previous fiscal year due to the increase in interest-bearing debt. - FY2026-H1Increase in liabilities due to higher interest-bearing debtAnnual report
「Liabilities increased by ¥69,304 million from the end of the previous consolidated fiscal year to ¥1,019,901 million, as the increase in interest-bearing debt more than offset the decrease in notes and accounts payable resulting from payments for construction work and other factors.」
Total liabilities increased by ¥69,304 million from the end of the previous consolidated fiscal year, mainly due to the increase in interest-bearing debt. - FY2025-H1Increase in liabilities due to bond issuanceAnnual report
「Liabilities increased by ¥53,682 million from the end of the previous consolidated fiscal year to ¥892,833 million, mainly due to the new issuance of bonds and other factors, despite the decrease in bills and accounts payable resulting from payments for equipment construction and other factors.」
Total liabilities increased by ¥53,682 million from the end of the previous consolidated fiscal year, mainly due to the issuance of new corporate bonds. - FY2024Liabilities increased, and long-term borrowings increasedAnnual report
「Liabilities increased by ¥37,383 million from the end of the previous fiscal year to ¥839,672 million, mainly due to increases in advances received for construction contributions related to elevated railway construction and other projects, as well as interest-bearing debt.」
Although the company has set targets for strengthening the financial structure and reducing interest-bearing debt, total liabilities increased by ¥37,383 million during the fiscal year due to increases in advances received and interest-bearing debt. - FY2024-Q3Liabilities and interest-bearing debt continue to increaseAnnual report
「Liabilities increased by ¥24,664 million from the end of the previous consolidated fiscal year to ¥826,953 million. This was mainly due to the increase in interest-bearing debt resulting from the issuance of commercial paper and other factors, despite the decrease in bills and accounts payable resulting from payments for equipment construction and other factors.」
Total liabilities increased by ¥24,664 million from the end of the previous consolidated fiscal year to ¥826,953 million. Although bills and accounts payable decreased, interest-bearing debt increased due to the issuance of commercial paper and other factors. - FY2024-Q2Liabilities decrease, but interest-bearing debt edges upAnnual report
「Short-term borrowings 52,876 48,439 Commercial paper 10,000 7,000 Bonds due within one year 30,080 10,000 Bonds 215,000 240,000 Long-term borrowings 155,949 159,497」
Although total liabilities decreased by ¥8,387 million from the end of the previous consolidated fiscal year, total major interest-bearing debt edged up from approximately ¥474,583 million to approximately ¥475,036 million. - FY2024-Q1Liabilities decrease, but interest-bearing debt increasesAnnual report
「Liabilities decreased by ¥6,516 million from the end of the previous consolidated fiscal year to ¥795,772 million. This was because the decrease in bills and accounts payable resulting from payments for equipment construction and other factors exceeded the increase in interest-bearing debt resulting from the issuance of commercial paper and other factors.」
Although total liabilities decreased by ¥6,516 million from the end of the previous consolidated fiscal year, interest-bearing debt increased due to the issuance of commercial paper and other factors. - FY2023Increase in liabilities due to higher interest-bearing debtAnnual report
「Liabilities increased by ¥26,524 million from the end of the previous fiscal year to ¥802,289 million, mainly due to increases in advances received for construction contributions related to elevated railway construction and other projects, as well as interest-bearing debt.」
Against the theme of strengthening the financial structure and reducing interest-bearing debt, total liabilities increased by ¥26,524 million during the fiscal year, mainly due to the increase in interest-bearing debt and other factors. - FY2023-Q3Liabilities decrease, but interest-bearing debt edges upAnnual report
「Liabilities decreased by ¥1,670 million from the end of the previous consolidated fiscal year to ¥774,094 million. This was because the decrease in bills and accounts payable resulting from payments for construction work and other factors exceeded the increase in advances received for construction contributions related to elevated railway construction and other projects.」
Total liabilities decreased by ¥1,670 million from the end of the previous consolidated fiscal year. Meanwhile, on the balance sheet, commercial paper decreased from ¥36 billion to ¥10 billion, while short-term borrowings and bonds due within one year increased, limiting progress in reducing interest-bearing debt. - FY2023-Q2Liabilities decrease, but interest-bearing debt increasesAnnual report
「Liabilities decreased by ¥8,133 million from the end of the previous consolidated fiscal year to ¥767,631 million. This was because the decrease in bills and accounts payable resulting from payments for construction work and other factors exceeded the increase in interest-bearing debt resulting from the issuance of bonds and other factors.」
Although total liabilities decreased by ¥8,133 million from the end of the previous fiscal year, interest-bearing debt increased due to the issuance of bonds and other factors. - FY2023-Q1Continued increase in interest-bearing debtAnnual report
「Liabilities decreased by ¥438 million from the end of the previous consolidated fiscal year to ¥775,326 million. This was because the decrease in bills and accounts payable resulting from payments for construction work and other factors exceeded the increase in interest-bearing debt resulting from the issuance of bonds and other factors.」
Although total liabilities decreased by ¥438 million from the end of the previous fiscal year, interest-bearing debt increased due to the issuance of bonds and other factors, indicating that financing-related increases continue despite the debt-reduction policy. - FY2022Interest-bearing debt continues to increase amid commercial paper issuanceAnnual report
「Liabilities decreased by ¥7,853 million from the end of the previous fiscal year to ¥775,765 million. This was because advances received decreased following the completion of elevated railway construction and other factors, and bills and accounts payable decreased as a result of payments for construction work and other factors, more than offsetting the increase in interest-bearing debt resulting from the issuance of commercial paper and other factors.」
The company stated that total liabilities decreased by ¥7,853 million, while interest-bearing debt increased due to the issuance of commercial paper and other factors. - FY2022-Q3Increase in interest-bearing debt from commercial paper issuance and other factorsAnnual report
「Liabilities increased by ¥2,910 million from the end of the previous consolidated fiscal year to ¥786,529 million. This was because the increase in interest-bearing debt resulting from the issuance of commercial paper and other factors exceeded the decrease in bills and accounts payable resulting from payments for construction work and other factors.」
Although the company has set a target of reducing interest-bearing debt, interest-bearing debt increased due to the issuance of commercial paper and other factors, and total liabilities increased by ¥2,910 million from the end of the previous fiscal year. - FY2022-Q2Increase in interest-bearing debt continues as commercial paper issuance continuesAnnual report
「Liabilities decreased by ¥14,254 million from the end of the previous consolidated fiscal year to ¥769,364 million. This was because the decrease in bills and accounts payable resulting from payments for construction work and other factors exceeded the increase in interest-bearing debt resulting from the issuance of commercial paper and other factors.」
Although total liabilities decreased, interest-bearing debt increased due to the issuance of commercial paper and other factors, indicating that financing-related increases continue despite the debt-reduction policy. - FY2022-Q1Increase in interest-bearing debt from commercial paper issuanceAnnual report
「Liabilities decreased by ¥7,139 million from the end of the previous consolidated fiscal year to ¥776,479 million. This was because the decrease in bills and accounts payable resulting from payments for construction work and other factors exceeded the increase in interest-bearing debt resulting from the issuance of commercial paper and other factors.」
Although total liabilities decreased from the end of the previous consolidated fiscal year, interest-bearing debt increased due to the issuance of commercial paper and other factors. - FY2021Liabilities continue to increase due to higher bonds and borrowingsAnnual report
「Liabilities increased by ¥57,041 million from the end of the previous fiscal year to ¥783,619 million, mainly due to the increase in bonds and borrowings and other factors.」
Although the company has set a target of reducing interest-bearing debt, total liabilities increased by ¥57,041 million from the end of the previous fiscal year due to the increase in bonds and borrowings. - FY2021-Q3Liabilities continue to increase due to higher bonds and borrowingsAnnual report
「Liabilities increased by ¥31,652 million from the end of the previous consolidated fiscal year to ¥758,229 million, mainly because bonds and borrowings increased while bills and accounts payable decreased as a result of payments for construction work and other factors.」
Total liabilities increased by ¥31,652 million from the end of the previous consolidated fiscal year due to the increase in bonds and borrowings and other factors. In the thread focused on reducing interest-bearing debt, liabilities continue to increase as a result of financing. - FY2021-Q2Increase in liabilities from financingAnnual report
「Liabilities increased by ¥9,286 million from the end of the previous consolidated fiscal year to ¥735,864 million. This was because the increase in bonds and borrowings resulting from financing exceeded the decrease in bills and accounts payable resulting from payments for construction work and other factors.」
Bonds and borrowings increased as a result of financing, and total liabilities increased by ¥9,286 million from the end of the previous fiscal year. - FY2021-Q1Quarterly decrease in liabilities, but bonds and borrowings increaseAnnual report
「Liabilities decreased by ¥3,599 million from the end of the previous consolidated fiscal year to ¥722,978 million. This was because the decrease in bills and accounts payable resulting from payments for construction work and other factors exceeded the increase in bonds and borrowings resulting from financing.」
The company disclosed that total liabilities decreased by ¥3,599 million from the end of the previous consolidated fiscal year, while bonds and borrowings increased as a result of financing. - FY2020Liabilities continue to increase during the fiscal yearAnnual report
「Liabilities increased by ¥10,195 million from the end of the previous fiscal year to ¥726,577 million, mainly due to the increase in non-current liabilities from the new issuance of bonds and other factors.」
Although the company has set a target of reducing interest-bearing debt, total liabilities increased by ¥10,195 million from the end of the previous fiscal year for the full year due to the new issuance of bonds and other factors. - FY2020-Q3Liabilities continue to increase due to bond issuanceAnnual report
「Liabilities increased by ¥2,122 million from the end of the previous consolidated fiscal year to ¥718,504 million, as the increase in non-current liabilities from the new issuance of bonds and other factors exceeded the decrease in bills and accounts payable resulting from payments for construction work and other factors.」
Total liabilities increased by ¥2,122 million from the end of the previous fiscal year, mainly due to the increase in non-current liabilities from the new issuance of bonds and other factors. - FY2020-Q2Increase in debtAnnual report
「Liabilities increased by ¥7,071 million from the end of the previous consolidated fiscal year to ¥723,453 million, as the increase in non-current liabilities from the new issuance of bonds and other factors exceeded the decrease in bills and accounts payable resulting from payments for construction work and other factors.」
Total liabilities increased by ¥7,071 million from the end of the previous fiscal year due to the new issuance of bonds and other factors, indicating an increase in liabilities despite the trend toward strengthening the financial structure and reducing debt. - FY2020-Q1Increase in Interest-Bearing DebtAnnual report
「Short-term borrowings 52,763 55,678 Bonds due within one year 10,000 10,000 Bonds 165,880 175,340 Long-term borrowings 158,299 158,869」
The total of the four major interest-bearing debt items increased by ¥12,945 million, from ¥386,942 million at the end of March 2019 to ¥399,887 million at the end of June 2019. - FY2019AdvancedAnnual report
「Liabilities decreased by ¥14,684 million from the end of the previous fiscal year to ¥716,381 million, mainly due to a decrease in interest-bearing debt.」
Total liabilities decreased by ¥14,684 million from the end of the previous fiscal year, mainly due to a decrease in interest-bearing debt. - FY2019-Q3AdvancedAnnual report
「Liabilities decreased by ¥16,497 million from the end of the previous consolidated fiscal year to ¥714,569 million, mainly due to a decrease in interest-bearing debt and a decrease in bills and accounts payable resulting from payments for construction work and other factors.」
The company disclosed that total liabilities decreased by ¥16,497 million from the end of the previous consolidated fiscal year, mainly due to a decrease in interest-bearing debt. - FY2019-Q2Increase in Interest-Bearing DebtAnnual report
「Short-term borrowings 55,797 61,144 Bonds due within one year 20,000 20,000 Bonds 167,180 174,930 Long-term borrowings 170,851 163,290」
The total of the four major interest-bearing debt items increased by ¥5,536 million, from ¥413,828 million at the end of the previous consolidated fiscal year to ¥419,364 million at the end of the second quarter. - FY2019-Q1Increase in Interest-Bearing DebtAnnual report
「Short-term borrowings 55,797 57,645 Bonds due within one year 20,000 20,000 Bonds 167,180 174,960 Long-term borrowings 170,851 168,720」
The total of the four major interest-bearing debt items increased by ¥7,497 million, from ¥413,828 million at the end of the previous consolidated fiscal year to ¥421,325 million at the end of the first quarter. - FY2018AdvancedAnnual report
「Total liabilities were ¥731,504 million, down ¥19,564 million from the end of the previous fiscal year. This was due in part to a ¥17,821 million decrease in total interest-bearing debt and a ¥2,248 million decrease in bills and accounts payable.」
Interest-bearing debt decreased by ¥17,821 million from the end of the previous fiscal year, indicating full-year progress in strengthening the financial structure. - FY2018-Q3AdvancedAnnual report
「Short-term borrowings 63,188 56,363 Bonds due within one year 35,000 35,000 Bonds 174,990 176,690 Long-term borrowings 163,510 166,588」
The total of the four major interest-bearing debt items decreased by ¥2,047 million, from ¥436,688 million at the end of the previous consolidated fiscal year to ¥434,641 million at the end of the third quarter. - FY2018-Q2AdvancedAnnual report
「Short-term borrowings 63,188 46,500 Bonds due within one year 35,000 25,000 Bonds 174,990 179,990 Long-term borrowings 163,510 176,477」
The total of the four major interest-bearing debt items decreased by ¥8,721 million, from ¥436,688 million at the end of the previous consolidated fiscal year to ¥427,967 million at the end of the second quarter. - FY2018-Q1Increase in Interest-Bearing DebtAnnual report
「Total liabilities decreased by ¥15,956 million from the end of the previous consolidated fiscal year. This was mainly because bills and accounts payable decreased by ¥19,627 million due to payments and other factors, more than offsetting the ¥7,356 million increase in total interest-bearing debt.」
Although total liabilities decreased, interest-bearing debt increased by ¥7,356 million from the end of the previous consolidated fiscal year as of the end of the first quarter. - FY2017AdvancedAnnual report
「This was mainly because other current liabilities, including advances received, increased by ¥4,639 million, provisions for restructuring losses increased by ¥4,592 million, and income taxes payable increased by ¥2,911 million, while total interest-bearing debt decreased by ¥13,615 million.」
The company disclosed that interest-bearing debt decreased by ¥13,615 million from the end of the previous fiscal year, indicating full-year progress toward debt reduction. - FY2017-Q3Interest-bearing debt remains elevatedAnnual report
「Short-term borrowings 72,436 77,232 Bonds due within one year 10,000 30,000 Bonds 180,000 175,000 Long-term borrowings 185,644 169,567」
On the balance sheet, short-term borrowings and bonds due within one year increased, while bonds and long-term borrowings decreased. Balances remain elevated relative to the target for reducing interest-bearing debt. - FY2017-Q2Increase in Interest-Bearing DebtAnnual report
「Total liabilities decreased by ¥4,777 million from the end of the previous consolidated fiscal year. This was mainly because bills and accounts payable decreased by ¥14,878 million due to payments and other factors, more than offsetting the ¥3,156 million increase in total interest-bearing debt.」
Although total liabilities decreased, interest-bearing debt increased by ¥3,156 million from the end of the previous consolidated fiscal year. - FY2016First statedAnnual report
「The period through 2020 is designated as a strengthening phase aimed at establishing a robust management foundation, including a sound financial structure and company-wide competitiveness. In 2012, the company formulated the "Meitetsu Group: Vision for 2020" and the "Long-Term Management Strategy" for achieving it.」
The period through 2020 is positioned as a phase for strengthening the management foundation, with efforts focused on improving the net interest-bearing debt/EBITDA ratio and reducing interest-bearing debt.