Risk of higher financing costs due to interest-rate movements
First written in FY2017. 2 of 3 entries say "Restated". Latest entry: FY2024.
The whole theme swung hardest in 2023: 9 of 38 companies on the "Worse" side.
33 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「Depending on future interest rate trends, the Group may be affected by higher financing costs, which could adversely affect its financial condition and operating results.」
The disclosure continued to cover interest rate fluctuation risk associated with financing through borrowings and bonds, as well as hedging through fixed-rate borrowings and interest-rate swaps. - FY2018RestatedAnnual report
「In financing its operations, the Group borrows a certain amount at fixed interest rates and has entered into interest-rate swaps to fix the rates on a portion of borrowings for vessels and capital expenditures. Depending on future interest rate trends, however, the Group may be affected by higher financing costs, which could adversely affect its financial condition and operating results.」
The disclosure continued to cover borrowing dependence and rising interest rate risks, along with the use of fixed-rate borrowings and interest-rate swaps as countermeasures. - FY2017First statedAnnual report
「In addition to using internal funds to the extent possible, our Group is working to reduce interest-bearing debt through off-balance-sheet arrangements, but it remains significantly dependent on borrowings from financial institutions. Depending on future interest rate trends, the Group may be affected by higher financing costs, which could adversely affect its financial condition and operating results.」
In addition to foreign exchange and fuel oil prices, borrowing dependence and higher financing costs resulting from rising interest rates were identified as key risks.