Reliance on Interest-Bearing Debt and Interest Rate Volatility Risk
First written in FY2016. 16 of 35 entries say "Worsened", first in FY2018-Q1. Latest entry: 2026-08-12.
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
- 2026-08-12OtherEarnings
「Total liabilities increased by ¥482 million from the end of the previous consolidated fiscal year to ¥25,960 million, up 1.9%.」
Total liabilities increased, while long-term borrowings declined and short-term borrowings increased by ¥430 million. - FY2026WorsenedAnnual report
「Interest-bearing debt outstanding 10,240,520 24.9 12,375,475 28.1」
Interest-bearing debt outstanding increased from ¥10,240.52 million to ¥12,375.48 million, while its ratio to total assets rose from 24.9% to 28.1%. The financial burden has expanded in connection with capital expenditures, including new vessels. - 2026-05-15WorsenedEarnings
「Total liabilities increased by ¥1,899 million from the end of the previous consolidated fiscal year to ¥25,477 million, up 8.1%. The main factors were decreases of ¥280 million in accrued corporate taxes, ¥176 million in liabilities related to retirement benefits, and ¥159 million in long-term accrued expenses, offset by increases of ¥2,047 million in long-term borrowings, ¥260 million in short-term borrowings, and ¥246 million in deferred tax liabilities, among others.」
Total liabilities and interest-bearing debt exposure expanded due to increases in long-term and short-term borrowings. - FY2026-H1Increase in short-term borrowings and outstanding commitment-line borrowingsAnnual report
「Total liabilities decreased by ¥307 million from the end of the previous consolidated fiscal year to ¥23,269 million, down 1.3%. The main factors were decreases of ¥350 million in other current liabilities due mainly to a decrease in accounts payable and other items, ¥198 million in long-term borrowings and ¥189 million in accrued income taxes and other taxes, despite increases of ¥620 million in short-term borrowings and ¥37 million in the provision for bonuses.」
Although total liabilities decreased, short-term borrowings increased by ¥620 million, and outstanding commitment-line borrowings increased from ¥1,500 million to ¥2,100 million. - FY2025WorsenedAnnual report
「31 March 2024 31 March 2025 Amount (¥ thousand) Composition (%) Amount (¥ thousand) Composition (%) Interest-bearing debt outstanding 8,511,063 22.0 10,240,520 24.9 Total assets 38,729,973 100.0 41,162,885 100.0」
Interest-bearing debt outstanding increased from ¥8,511.06 million to ¥10,240.52 million in connection with major capital expenditures, while its ratio to total assets rose from 22.0% to 24.9%. - FY2025-H1WorsenedAnnual report
「Total liabilities increased by ¥2,304 million from the end of the previous consolidated fiscal year to ¥24,050 million, up 10.6%. The main factors were an increase of ¥2,330 million in long-term borrowings and an increase of ¥728 million in other current liabilities due mainly to unpaid amounts related to construction of the hazardous-materials multi-workstation Asakura site and other items, despite decreases of ¥586 million in short-term borrowings and ¥340 million in operating accounts payable.」
Long-term borrowings increased by ¥2,330 million in connection with major capital expenditures, and total liabilities increased 10.6% from the previous fiscal year-end. Interest-bearing debt exposure has expanded. - FY2024WorsenedAnnual report
「The Group plans to strengthen its financial position by reducing interest-bearing debt, but fluctuations in market interest rates due to economic conditions and other factors could affect the Group's business performance and other matters.」
Interest-bearing debt outstanding increased from ¥7,988.89 million, or 21.0% of total assets, to ¥8,511.06 million, or 22.0%, expanding the financial burden exposure. - FY2024-Q3WorsenedAnnual report
「Total liabilities increased by ¥1,065 million from the end of the previous consolidated fiscal year to ¥22,293 million, up 5.0%. The main factors were increases of ¥1,018 million in long-term borrowings and ¥531 million in short-term borrowings, despite decreases of ¥377 million in other current liabilities, mainly due to a decrease in deposits received, and ¥215 million in the provision for bonuses.」
Long-term borrowings increased by ¥1,018 million and short-term borrowings by ¥531 million, and total liabilities increased 5.0% from the end of the previous consolidated fiscal year. Outstanding commitment-line borrowings were ¥2,340 million, with ¥660 million remaining. - FY2024-Q2WorsenedAnnual report
「Total liabilities increased by ¥387 million from the end of the previous consolidated fiscal year to ¥21,615 million, up 1.8%. The main factors were increases of ¥428 million in short-term borrowings and ¥184 million in long-term borrowings, despite decreases of ¥257 million in other current liabilities due to a decrease in accounts payable and other items and ¥21 million in accrued income taxes and other taxes.」
Both short-term and long-term borrowings increased, and total liabilities increased 1.8% from the previous fiscal year-end. Outstanding commitment-line borrowings also increased from ¥1,260 million to ¥2,220 million. - FY2024-Q1WorsenedAnnual report
「Total liabilities increased by ¥830 million from the end of the previous consolidated fiscal year to ¥22,058 million, up 3.9%. The main factors were increases of ¥453 million in long-term borrowings and ¥201 million in the provision for bonuses, despite decreases of ¥85 million in accrued income taxes and other taxes and ¥76 million in operating accounts payable.」
Long-term borrowings increased by ¥453 million, and total liabilities increased 3.9% from the previous fiscal year-end. - FY2023WorsenedAnnual report
「Interest-bearing debt outstanding increased from ¥7,712.547 million, or 20.6% of total assets, as of 31 March 2022 to ¥7,898.890 million, or 21.0% of total assets, as of 31 March 2023.」
Interest-bearing debt outstanding increased year on year, and its ratio to total assets rose from 20.6% to 21.0%. - FY2023-Q3WorsenedAnnual report
「Total liabilities increased by ¥289 million from the end of the previous consolidated fiscal year to ¥21,509 million, up 1.4%. The main factors were a ¥1,481 million increase in short-term borrowings to fund working capital and other needs, despite a ¥1,071 million decrease in long-term borrowings as scheduled repayments progressed. The total commitment line was ¥3,000 million, outstanding borrowings were ¥2,460 million and the remaining amount was ¥540 million.」
Although long-term borrowings decreased, short-term borrowings increased by ¥1,481 million. Outstanding commitment-line borrowings also increased from ¥1,260 million to ¥2,460 million, reducing the remaining amount to ¥540 million. - FY2023-Q2RestatedAnnual report
「Total liabilities decreased by ¥785 million from the end of the previous consolidated fiscal year to ¥20,434 million, down 3.7%. The main factors were an increase of ¥558 million in short-term borrowings, despite decreases of ¥866 million in long-term borrowings as scheduled repayments progressed, ¥307 million in other current liabilities due mainly to a decrease in accounts payable and other items, and ¥97 million in operating accounts payable.」
While short-term borrowings increased, long-term borrowings decreased due to scheduled repayments, and total liabilities declined 3.7% from the previous fiscal year-end. - FY2023-Q1Increase in short-term borrowings and decrease in long-term borrowingsAnnual report
「Total liabilities decreased by ¥41 million from the end of the previous consolidated fiscal year to ¥21,178 million, down 0.2%. The main factors were increases of ¥876 million in short-term borrowings and ¥193 million in the provision for bonuses, despite decreases of ¥713 million in long-term borrowings as scheduled repayments progressed, ¥325 million in other current liabilities due mainly to a decrease in accounts payable and other items, and ¥132 million in accrued income taxes and other taxes.」
Short-term borrowings increased by ¥876 million, while long-term borrowings decreased by ¥713 million, and total liabilities declined 0.2%. - FY2022MitigatedAnnual report
「Interest-bearing debt outstanding decreased from ¥8,239.89 million, or 22.9% of total assets, as of 31 March 2021 to ¥7,712.55 million, or 20.6% of total assets, as of 31 March 2022.」
Interest-bearing debt outstanding decreased by approximately ¥527.34 million from the previous fiscal year, and its ratio to total assets declined from 22.9% to 20.6%. - FY2022-Q3Increase in liabilities, decrease in long-term borrowings and increase in outstanding commitment-line borrowingsAnnual report
「Total liabilities increased by ¥950 million from the end of the previous consolidated fiscal year to ¥21,481 million, up 4.6%. The main factors were increases of ¥860 million in other current liabilities, mainly due to an increase in advances received, and ¥373 million in operating accounts payable, despite decreases of ¥584 million in long-term borrowings as scheduled repayments progressed and ¥195 million in the provision for bonuses.」
Although long-term borrowings decreased by ¥584 million, total liabilities increased 4.6%. Outstanding commitment-line borrowings increased from ¥1,260 million to ¥1,860 million, while the remaining amount declined from ¥1,740 million to ¥1,140 million. - FY2022-Q2MitigatedAnnual report
「Total liabilities decreased by ¥572 million from the end of the previous consolidated fiscal year to ¥19,958 million, down 2.8%. The main factors were decreases of ¥718 million in long-term borrowings and ¥283 million in short-term borrowings as scheduled repayments progressed, despite increases of ¥342 million in the provision for environmental measures and ¥164 million in asset retirement obligations included in non-current liabilities.」
Both long-term and short-term borrowings decreased due to scheduled repayments, and total liabilities declined 2.8% from the previous fiscal year-end. - FY2022-Q1Increase in short-term borrowings and decrease in long-term borrowingsAnnual report
「Total liabilities decreased by ¥306 million from the end of the previous consolidated fiscal year to ¥20,224 million, down 1.5%. The main factors were increases of ¥302 million in short-term borrowings resulting from financing through a commitment line to meet short-term funding needs, including funds for year-end bonuses, and ¥185 million in the provision for bonuses, despite decreases of ¥477 million in long-term borrowings as scheduled repayments progressed and ¥183 million in accrued income taxes and other taxes.」
Short-term borrowings increased by ¥302 million, while long-term borrowings decreased by ¥477 million, resulting in a 1.5% decline in total liabilities from the previous fiscal year-end. - FY2021MitigatedAnnual report
「The Group plans to strengthen its financial position by reducing interest-bearing debt. However, fluctuations in market interest rates due to economic conditions and other factors could affect the Group's performance.」
Interest-bearing debt outstanding declined from ¥10,173.77 million, or 28.2% of total assets, to ¥8,239.89 million, or 22.9%, while outstanding commitment-line borrowings also decreased from ¥1,710 million to ¥1,260 million. - FY2021-Q3Decrease in borrowings and increase in outstanding commitment-line borrowingsAnnual report
「Total liabilities increased by ¥187 million from the end of the previous consolidated fiscal year to ¥21,230 million, up 0.9%. The main factors were increases of ¥1,652 million in other non-current liabilities, mainly due to an increase in long-term advances received, primarily rental income, and ¥148 million in accrued income taxes and other taxes, despite decreases of ¥1,070 million in long-term borrowings and ¥330 million in short-term borrowings.」
Long-term and short-term borrowings decreased, while total liabilities increased 0.9%. Outstanding commitment-line borrowings increased from ¥1,710 million to ¥1,860 million. - FY2021-Q2MitigatedAnnual report
「Total liabilities decreased by ¥94 million from the end of the previous consolidated fiscal year to ¥20,947 million, down 0.5%. The main factors were decreases of ¥775 million in long-term borrowings as scheduled repayments progressed, ¥385 million in short-term borrowings due to repayments under the commitment line and ¥363 million in operating accounts payable, despite increases of ¥1,298 million in other non-current liabilities, mainly due to an increase in long-term advances received, and ¥131 million in other current liabilities, mainly due to increases in accrued consumption taxes and other items.」
Long-term and short-term borrowings decreased due to scheduled repayments and repayments under the commitment line, and total liabilities declined 0.5% from the previous fiscal year-end. - FY2021-Q1MitigatedAnnual report
「Total liabilities increased by ¥594 million from the end of the previous consolidated fiscal year to ¥21,636 million, up 2.8%. The main factors were increases of ¥1,291 million in other non-current liabilities, mainly due to an increase in long-term advances received, primarily rental income, and ¥181 million in the provision for bonuses, despite decreases of ¥468 million in operating accounts payable and ¥367 million in long-term borrowings due to repayments.」
Although total liabilities increased, long-term borrowings decreased by ¥367 million due to debt repayments, indicating a partial reduction in interest-bearing debt. - FY2020-Q3WorsenedAnnual report
「Total liabilities increased by ¥616 million from the end of the previous consolidated fiscal year to ¥21,305 million, up 3.0%. The main factors were an increase of ¥1,049 million in short-term borrowings resulting from financing through a commitment line to meet short-term funding needs, including funds for year-end bonuses, and an increase of ¥252 million in other non-current liabilities due mainly to an increase in long-term accounts payable, despite decreases of ¥451 million in long-term borrowings and ¥221 million in accrued income taxes and other taxes.」
Short-term borrowings increased by ¥1,049 million, and total liabilities increased 3.0% from the end of the previous consolidated fiscal year. Outstanding commitment-line borrowings reached ¥2,700 million, reducing the remaining available capacity to ¥300 million. - FY2020-Q2Decrease in long-term borrowings and increased use of the commitment lineAnnual report
「To stabilize financing and reduce interest-bearing debt through the effective use of cash on hand, thereby further strengthening its financial position, the Company has entered into a syndicated commitment-line agreement with 5 of its relationship banks. The undrawn commitment-line balance and other related amounts at the end of the second quarter of the current consolidated fiscal year were as follows.」
Total liabilities decreased 0.1% from the end of the previous consolidated fiscal year. Long-term borrowings decreased by ¥351 million, while short-term borrowings increased by ¥233 million, and outstanding commitment-line borrowings increased from ¥1,590 million to ¥1,860 million. - FY2020-Q1Increase in short-term borrowings and outstanding commitment-line borrowingsAnnual report
「The main factors were an increase of ¥499 million in short-term borrowings resulting from financing through a commitment line to meet short-term funding needs, including funds for year-end bonuses, despite decreases of ¥190 million in accrued income taxes and other taxes and ¥160 million in long-term borrowings, as well as an increase of ¥184 million in the provision for bonuses.」
Total liabilities were broadly unchanged, but short-term borrowings increased by ¥499 million, and outstanding commitment-line borrowings increased from ¥1,590 million to ¥2,100 million. - FY2019MitigatedAnnual report
「Interest-bearing debt outstanding increased from ¥10,013 million, or 27.6% of total assets, as of 31 March 2018 to ¥9,564 million, or 26.7% of total assets, as of 31 March 2019.」
Interest-bearing debt outstanding and its ratio to total assets declined from the previous fiscal year, indicating that risk reduction is progressing in line with the policy of strengthening the financial position. - FY2019-Q3MitigatedAnnual report
「Total liabilities decreased by ¥58 million from the end of the previous consolidated fiscal year to ¥21,012 million, down 0.3%. The main factors were an ¥873 million increase in short-term borrowings resulting from financing through a commitment line to meet short-term funding needs, including funds for land acquisition and capital expenditure and year-end bonuses, despite decreases of ¥1,026 million in long-term borrowings, ¥222 million in operating accounts payable and ¥184 million in the provision for bonuses.」
Although short-term borrowings increased by ¥873 million, long-term borrowings decreased by ¥1,026 million, resulting in a 0.3% decline in total liabilities from the previous fiscal year-end. The execution of short-term financing through a commitment line was also reported. - FY2019-Q2MitigatedAnnual report
「Total liabilities decreased by ¥287 million from the end of the previous consolidated fiscal year to ¥20,783 million, down 1.4%. The main factors were increases of ¥304 million in short-term borrowings and ¥168 million in operating accounts payable resulting from short-term working-capital financing through a commitment line, despite decreases of ¥810 million in long-term borrowings and ¥72 million in other non-current liabilities, mainly due to a decrease in long-term lease obligations.」
Although short-term borrowings increased, total liabilities declined 1.4% from the previous fiscal year-end due mainly to a decrease in long-term borrowings, indicating a lower financial burden. - FY2019-Q1WorsenedAnnual report
「Total liabilities increased by ¥186 million from the end of the previous consolidated fiscal year to ¥21,257 million, up 0.9%. The main factors were increases of ¥179 million in the provision for bonuses and ¥568 million in short-term borrowings resulting from financing through a commitment line to meet short-term funding needs, including funds for year-end bonuses, despite decreases of ¥410 million in long-term borrowings and ¥140 million in accrued income taxes and other taxes.」
Short-term borrowings increased by ¥568 million, and interest-bearing debt exposure at the quarter-end expanded following financing through a commitment line. - FY2018MitigatedAnnual report
「Interest-bearing debt outstanding increased from ¥10,617 million, or 29.7% of total assets, as of 31 March 2017 to ¥10,013 million, or 27.5% of total assets, as of 31 March 2018.」
Interest-bearing debt outstanding and its ratio to total assets declined from the previous fiscal year, indicating that risk reduction is progressing in line with the policy of strengthening the financial position. - FY2018-Q3WorsenedAnnual report
「Total liabilities increased by ¥1,443 million from the end of the previous consolidated fiscal year to ¥22,220 million, up 6.9%. The main factors were increases of ¥641 million in other non-current liabilities, mainly due to an increase in long-term lease obligations, ¥312 million in operating accounts payable and ¥287 million in long-term borrowings, despite a ¥184 million decrease in the provision for bonuses.」
Total liabilities increased 6.9% from the end of the previous consolidated fiscal year, while long-term borrowings also increased by ¥287 million, and the expansion of interest-bearing debt exposure has continued. - FY2018-Q2WorsenedAnnual report
「Total liabilities increased by ¥1,380 million from the end of the previous consolidated fiscal year to ¥22,158 million, up 6.6%. The main factors were increases of ¥650 million in other non-current liabilities, mainly due to an increase in long-term lease obligations, ¥245 million in short-term borrowings and ¥200 million in long-term borrowings, despite a ¥72 million decrease in accrued income taxes and other taxes.」
Total liabilities increased 6.6% from the end of the previous consolidated fiscal year, while short-term and long-term borrowings also increased, and the expansion of interest-bearing debt exposure has continued. - FY2018-Q1WorsenedAnnual report
「Total liabilities increased by ¥788 million from the end of the previous consolidated fiscal year to ¥21,565 million, up 3.8%. The main factors were increases of ¥475 million in short-term borrowings and ¥165 million in long-term borrowings, despite decreases of ¥217 million in operating accounts payable and ¥148 million in accrued income taxes and other taxes.」
Short-term and long-term borrowings increased from the end of the previous consolidated fiscal year, expanding interest-bearing debt exposure at the quarter-end. - FY2017MitigatedAnnual report
「The Group's interest-bearing debt outstanding at the end of each of the past two fiscal years, excluding lease obligations, and the percentage of total assets represented by that debt are as follows. The Group plans to strengthen its financial position by reducing interest-bearing debt, but fluctuations in market interest rates due to economic conditions and other factors could affect the Group's business performance.」
Interest-bearing debt outstanding declined from ¥10,797 million, or 31.0% of total assets, to ¥10,617 million, or 29.7%. - FY2016First statedAnnual report
「The Group plans to strengthen its financial position by reducing interest-bearing debt. However, fluctuations in market interest rates due to economic conditions and other factors could affect the Group's performance.」
Interest-bearing debt outstanding at the end of March 2016 was ¥10,797 million, or 31.0% of total assets.