Interest rate risk on variable-rate borrowings and hedging
First written in FY2016. 1 of 6 entries say "Restated". Latest entry: FY2021.
The whole theme swung hardest in 2025: 13 of 59 companies on the "Worse" side.
93 other companies' latest entry also says "Restated".
- FY2021RestatedAnnual report
「Some of our borrowings bear variable interest rates and are exposed to interest rate risk. To fix the interest payable, we use derivatives, specifically interest rate swaps, as hedging instruments.」
The policy of hedging variable-rate borrowings with interest rate swaps continues. The notional amount of the interest rate swaps is ¥200 million. - FY2020Increase in interest rate swap notional amountAnnual report
「Interest rate swap transactions Fixed payments/ Floating receipts Long-term borrowings 200,000 186,664」
The notional amount of interest rate swaps hedging variable-rate risk increased from ¥5 million in the previous fiscal year to ¥200 million, of which ¥186.664 million relates to contracts with maturities of more than 1 year. - FY2019Further reduction in interest rate swap notional amountAnnual report
「Interest rate swap transactions Fixed payments/ Floating receipts Long-term borrowings 5,000 —」
The policy of using interest rate swaps to hedge variable-rate risk continues, but the notional amount decreased from ¥22.5 million in the previous fiscal year to ¥5 million, and there are no longer any contracts with maturities of more than 1 year. - FY2018Further reduction in interest rate swap notional amountAnnual report
「Some of our borrowings bear variable interest rates and are exposed to interest rate risk. To fix the interest payable, we use derivatives, specifically interest rate swaps, as hedging instruments.」
The policy of hedging variable-rate risk with interest rate swaps continues, but the notional amount decreased from ¥50 million at the end of the previous fiscal year to ¥22.5 million. - FY2017Reduction in interest rate swap notional amountAnnual report
「Some of our borrowings bear variable interest rates and are exposed to interest rate risk. To fix the interest payable, we use derivatives, specifically interest rate swaps, as hedging instruments.」
The policy of hedging variable-rate risk with interest rate swaps continues, but the notional amount of the interest rate swaps decreased from ¥102.5 million at the end of the previous fiscal year to ¥50 million. - FY2016First statedAnnual report
「Some of our borrowings bear variable interest rates and are exposed to interest rate risk. To fix the interest payable, we use derivatives, specifically interest rate swaps, as hedging instruments.」
The notional amount and other details of the interest rate swaps totaled ¥102.5 million at the end of the fiscal year, hedging fluctuations in interest rates on borrowings.