Funding Cost Risk Due to Interest-Rate Fluctuations
First written in FY2017. 10 of 14 entries say "Worsened", first in FY2020. Latest entry: 2026-11-12.
The whole theme swung hardest in 2025: 34 of 95 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「Borrowings have tended to increase as a result of active business expansion under the medium-term management plan. To reduce these risks, we are using measures such as interest rate swap agreements for some borrowings to address changes in fixed and floating interest rates.」
Interest-bearing liabilities totaled ¥9,548 million, and the Company continues to disclose the trend of increasing borrowings resulting from active business expansion. Its response through interest rate swaps is also described. - 2026-05-15WorsenedResults
「経常利益については、M&Aによる取得関連費用の計上や為替差損の計上（前期は為替差益）、支払利息の増加等もあり前期に比べ減少し、」
支払利息が前期の48百万円から97百万円へ増加し、借入れに伴う資金調達コストの負担が実績として表れた。 - FY2023RestatedAnnual report
「On the other hand, the risks have tended to increase, including as borrowings expand through active business expansion. To reduce these risks, we have taken measures such as setting certain standards for the equity ratio and other indicators, and are preparing for higher funding costs.」
While recognizing the interest rate and funding cost risks arising from increased borrowings, the Company continues to respond by setting standards for the equity ratio and other indicators. - FY2022-Q3WorsenedAnnual report
「Total liabilities as of the end of the third quarter of the current consolidated fiscal year increased by ¥2,660 million from the end of the previous consolidated fiscal year to ¥17,032 million due to increases in short-term and long-term borrowings resulting from new borrowings and recognition of asset retirement obligations related to the newly constructed warehouse,」
New borrowings increased short-term and long-term borrowings, expanding exposure to funding costs resulting from interest rate fluctuations. No deterioration in interest expense itself was stated. - FY2022-Q2WorsenedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, total liabilities increased by ¥1,144 million from the end of the previous consolidated fiscal year to ¥15,515 million, as short-term and long-term borrowings increased due to new borrowings,」
Total liabilities increased by ¥1,144 million due to new short-term and long-term borrowings, further increasing exposure to interest rate fluctuations and funding costs through borrowings. - FY2022-Q1WorsenedAnnual report
「Total liabilities as of the end of the first quarter of the current consolidated fiscal year increased by ¥1,721 million from the end of the previous consolidated fiscal year to ¥16,093 million due to increases in new short-term borrowings and new long-term borrowings for construction of a new warehouse,」
As short-term and long-term borrowings increase in connection with the construction of new warehouses and other projects, exposure to interest rate fluctuations and funding costs through interest-bearing liabilities is expanding. - FY2021WorsenedAnnual report
「At the end of the consolidated fiscal year, interest-bearing liabilities, including borrowings and lease liabilities, totaled ¥9,450 million.」
Interest-bearing liabilities totaled ¥9,450 million in connection with active capital expenditures and other factors, and exposure to funding costs through interest rate fluctuations continues. - FY2020WorsenedAnnual report
「On the other hand, the risks have tended to increase, including as borrowings expand as a result of active business expansion.」
The Company states that the impact of interest rates is limited for a certain period through long-term fixed-rate borrowings, while the risk of interest rate fluctuations is tending to increase as borrowings expand with active business expansion. - FY2019RestatedAnnual report
「Because we currently obtain funding mainly through long-term borrowings at fixed interest rates, the impact of interest rate fluctuations is limited over certain periods. However, fluctuations in interest rates may affect future funding costs.」
The Company reiterates the risk that future interest rate fluctuations may affect funding costs, while noting that fixed-rate borrowings limit the impact. - FY2017First statedAnnual report
「Because we currently obtain funding mainly through long-term borrowings at fixed interest rates, the impact of interest rate fluctuations is limited over certain periods. However, fluctuations in interest rates may affect future funding costs.」
The Company mainly finances capital expenditures through bank borrowings and describes the future risk of interest rate fluctuations affecting funding costs, while noting that fixed-rate borrowings limit the impact.