Financial Risks from High Interest-Bearing Debt and a Low Equity Ratio
First written in FY2018. 14 of 26 entries say "Worsened", first in FY2019-Q1. Latest entry: 2026-07-14.
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
- FY2026-H1WorsenedAnnual report
「As of the end of the interim consolidated fiscal period, liabilities were ¥11,008 million, compared with ¥10,829 million at the end of the previous consolidated fiscal year, an increase of ¥178 million.」
Liabilities increased by ¥178 million from the end of the previous fiscal year, while the equity ratio fell from 28.2% to 27.7%. Long-term borrowings also increased by ¥378 million, indicating a deterioration in financial risk metrics due to high interest-bearing debt and a low equity ratio. - FY2025-H1WorsenedAnnual report
「As of the end of the interim consolidated fiscal period, liabilities were ¥8,266 million, compared with ¥7,236 million at the end of the previous consolidated fiscal year, an increase of ¥1,030 million. This was mainly due to an increase of ¥904 million in short-term borrowings, among other factors. The equity ratio was 33.8%.」
Liabilities increased by ¥1,030 million from the end of the previous fiscal year, and short-term borrowings also increased by ¥904 million. The equity ratio fell from 36.2% at the end of the previous fiscal year to 33.8%, indicating a deterioration in financial risk metrics. - FY2024WorsenedAnnual report
「As of the end of August 2024, interest-bearing debt accounted for 51.1% of total assets, and the equity ratio was 36.2%.」
The interest-bearing debt ratio rose from 47.4% in the previous fiscal year to 51.1%, while the equity ratio fell from 40.5% to 36.2%, indicating a deterioration in financial risk metrics associated with increased borrowings. - FY2024-Q3WorsenedAnnual report
「As of the end of the third quarter of the current consolidated fiscal period, liabilities were ¥6,827 million, compared with ¥5,814 million at the end of the previous consolidated fiscal year, an increase of ¥1,013 million. This was mainly due to increases of ¥439 million in short-term borrowings and ¥151 million in long-term borrowings due within one year, among other factors.」
Liabilities increased by ¥1,013 million from the end of the previous fiscal year, and short-term borrowings and other items also increased. The equity ratio fell from 40.5% at the end of the previous fiscal year to 38.2%, indicating a deterioration in financial risk metrics. - FY2024-Q2WorsenedAnnual report
「As of the end of the second quarter of the current consolidated fiscal period, liabilities were ¥6,159 million, compared with ¥5,814 million at the end of the previous consolidated fiscal year, an increase of ¥344 million. This was mainly due to increases of ¥320 million in short-term borrowings and ¥87 million in long-term borrowings due within one year, among other factors.」
Liabilities increased by ¥344 million from the end of the previous fiscal year, and short-term borrowings and other items also increased. The equity ratio fell from 40.5% at the end of the previous fiscal year to 40.3%, indicating a deterioration in financial risk metrics. - FY2024-Q1WorsenedAnnual report
「As of the end of the first quarter of the current consolidated fiscal period, net assets were ¥3,905 million, compared with ¥3,963 million at the end of the previous consolidated fiscal year, a decrease of ¥58 million.」
Net assets decreased by ¥58 million from the end of the previous consolidated fiscal year, while the equity ratio fell from 40.5% to 39.3%. The company also reported an increase in short-term borrowings, indicating a deterioration in financial metrics from the end of the previous fiscal year. - FY2023MitigatedAnnual report
「As of the end of August 2023, interest-bearing debt accounted for 47.4% of total assets, and the equity ratio was 40.5%.」
The interest-bearing debt ratio fell from 55.2% in the previous fiscal year to 47.4%, while the equity ratio rose from 32.9% to 40.5%, indicating an improvement in financial metrics. However, the risks associated with high interest-bearing debt and interest-rate fluctuations remain. - FY2023-Q3WorsenedAnnual report
「As of the end of the third quarter of the current consolidated fiscal period, liabilities were ¥5,893 million, compared with ¥5,465 million at the end of the previous consolidated fiscal year, an increase of ¥428 million.」
Liabilities increased by ¥428 million from the end of the previous consolidated fiscal year, while the equity ratio fell from 32.9% to 31.9%, indicating a deterioration in financial risk metrics. - FY2023-Q2WorsenedAnnual report
「As of the end of the second quarter of the current consolidated fiscal period, liabilities were ¥5,992 million, compared with ¥5,465 million at the end of the previous consolidated fiscal year, an increase of ¥527 million.」
Liabilities increased by ¥527 million from the end of the previous consolidated fiscal year, while the equity ratio fell from 32.9% to 30.9%, indicating a deterioration in financial risk metrics. - FY2023-Q1WorsenedAnnual report
「As of the end of the first quarter of the current consolidated fiscal period, net assets were ¥2,605 million, compared with ¥2,675 million at the end of the previous consolidated fiscal year, a decrease of ¥70 million.」
Net assets decreased by ¥70 million from the end of the previous consolidated fiscal year, while the equity ratio also fell from 32.9% to 30.5%, indicating a deterioration in financial metrics from the end of the previous fiscal year. - FY2022MitigatedAnnual report
「As of the end of August 2022, interest-bearing debt accounted for 55.2% of total assets, and the equity ratio was 32.9%.」
The company disclosed an interest-bearing debt ratio of 55.2% and an equity ratio of 32.9%. The equity ratio rose slightly from 32.8% at the end of the previous fiscal year, and long-term borrowings also declined, indicating an improvement in financial metrics, although the level of interest-bearing debt remains high. - FY2022-Q3MitigatedAnnual report
「As of the end of the third quarter of the current consolidated fiscal period, net assets were ¥2,820 million, compared with ¥2,797 million at the end of the previous consolidated fiscal year, an increase of ¥22 million.」
Net assets increased by ¥22 million from the end of the previous consolidated fiscal year, while the equity ratio improved from 32.8% to 34.6%. - FY2022-Q2MitigatedAnnual report
「Net assets at the end of the second quarter of the current consolidated fiscal year were ¥2,798 million, compared with ¥2,797 million at the end of the previous consolidated fiscal year, an increase of ¥1 million.」
Net assets increased by ¥1 million from the end of the previous consolidated fiscal year, and the equity ratio also improved from 32.8% to 33.4%. Borrowings remain high, but financial metrics improved. - FY2022-Q1WorsenedAnnual report
「Net assets at the end of the first quarter of the current consolidated fiscal year were ¥2,720 million, compared with ¥2,797 million at the end of the previous consolidated fiscal year, a decrease of ¥76 million.」
Net assets decreased by ¥76 million from the end of the previous consolidated fiscal year, and the equity ratio also declined from 32.8% to 32.0%. - FY2021-Q3MitigatedAnnual report
「Net assets at the end of the third quarter of the current consolidated fiscal year were ¥2,760 million, compared with ¥2,579 million at the end of the previous consolidated fiscal year, an increase of ¥181 million.」
Net assets increased by ¥181 million from the end of the previous consolidated fiscal year, and the equity ratio also improved from 29.8% to 31.9%, indicating continued improvement in financial metrics. - FY2021-Q2MitigatedAnnual report
「Net assets at the end of the second quarter of the current consolidated fiscal year were ¥2,686 million, compared with ¥2,579 million at the end of the previous consolidated fiscal year, an increase of ¥107 million.」
Net assets increased by ¥107 million from the end of the previous consolidated fiscal year, and the equity ratio also improved from 29.8% to 30.3%. - FY2021-Q1MitigatedAnnual report
「Equity ratio: 30.1%」
The equity ratio rose from 29.8% at the end of the previous consolidated fiscal year to 30.1%, while net assets increased from ¥2,579 million to ¥2,622 million. Debt remains high, but financial metrics improved. - FY2020-Q3MitigatedAnnual report
「Net assets at the end of the third quarter of the current consolidated fiscal year were ¥2,067 million, compared with ¥1,674 million at the end of the previous consolidated fiscal year, an increase of ¥392 million.」
Net assets increased by ¥392 million, and the equity ratio improved from 20.9% at the end of the previous consolidated fiscal year to 24.6%. Borrowings remain high, but financial metrics have improved further from the previous quarter. - FY2020-Q2MitigatedAnnual report
「Net assets at the end of the second quarter of the current consolidated fiscal year were ¥1,885 million, compared with ¥1,674 million at the end of the previous consolidated fiscal year, an increase of ¥210 million.」
Net assets increased by ¥210 million, and the equity ratio improved from 20.9% at the end of the previous consolidated fiscal year to 21.5%. However, long-term borrowings increased by ¥639 million, so the disclosure does not indicate that financial risks have been eliminated. - FY2020-Q1WorsenedAnnual report
「Net assets at the end of the first quarter of the current consolidated fiscal year were ¥1,617 million, compared with ¥1,674 million at the end of the previous consolidated fiscal year, a decrease of ¥57 million.」
Net assets decreased by ¥57 million from the end of the previous consolidated fiscal year, and the equity ratio also declined from 20.9% to 20.5%. - FY2019-Q3MitigatedAnnual report
「Net assets at the end of the third quarter of the current consolidated fiscal year were ¥1,468 million, compared with ¥1,271 million at the end of the previous consolidated fiscal year, an increase of ¥196 million.」
Net assets increased by ¥196 million from the end of the previous consolidated fiscal year, and the equity ratio also improved to 19.1%. - FY2019-Q2MitigatedAnnual report
「Net assets at the end of the second quarter of the current consolidated fiscal year were ¥1,424 million, compared with ¥1,271 million at the end of the previous consolidated fiscal year, an increase of ¥152 million.」
Net assets increased by ¥152 million and the equity ratio improved from 17.5% to 18.6%. However, short-term borrowings increased by ¥746 million, so concerns over high interest-bearing debt have not been resolved. - FY2019-Q1WorsenedAnnual report
「Net assets at the end of the first quarter of the current consolidated fiscal year were ¥1,164 million, compared with ¥1,271 million at the end of the previous consolidated fiscal year, a decrease of ¥107 million.」
The equity ratio declined from 17.5% at the end of the previous consolidated fiscal year to 16.4%, while net assets decreased by ¥107 million, indicating deterioration in financial risk metrics. - FY2018First statedAnnual report
「As of the end of August 2018, interest-bearing debt accounted for 70.5% of total assets, while the equity ratio was 17.5%.」
The company reports an interest-bearing debt ratio of 70.5% and an equity ratio of 17.5%, and identifies a decline in the equity ratio and an increase in borrowings if plans stall, as well as higher funding costs due to rising interest rates, as risks.