Higher Funding Costs from Interest Rate Movements and Credit Rating Downgrades
First written in FY2022-Q1. 1 of 2 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
「As a rule, we reduce the risk on borrowings exposed to interest-rate fluctuations through hedging instruments such as interest-rate swaps. However, a significant change in interest rates or a downgrade of the NX Group’s credit ratings by a rating agency could increase financing costs and adversely affect operating results and financial position.」
The risk of higher financing costs from interest-rate movements and lower credit ratings, together with the policy of using interest-rate swaps, continues. - FY2022-Q1First statedAnnual report
「For borrowings exposed to interest-rate fluctuation risk, we reduce the risk partly through hedging instruments such as interest-rate swaps. However, a significant change in interest rates or a downgrade of the NX Group’s credit ratings by a rating agency could increase financing costs.」
Higher financing costs resulting from rising interest rates and lower credit ratings are identified as risks.