Interest-bearing debt and fluctuations in market interest rates
First written in FY2016. 16 of 24 entries say "Worsened", first in FY2017. Latest entry: 2026-07-29.
The whole theme swung hardest in 2025: 30 of 96 companies on the "Worse" side.
- 2026-07-29WorsenedEarnings presentation
「Interest-bearing debt balance 33,639 32,334 * 1,304」
The interest-bearing debt balance increased by ¥130.4 billion from ¥3,233.4 billion at March 2026 to ¥3,363.9 billion at June 2026. - FY2026WorsenedAnnual report
「Interest-bearing debt (¥100 million) 30,778 32,334 1,555 5.1」
Interest-bearing debt increased by ¥155.5 billion from the end of the previous fiscal year to ¥3.2334 trillion. However, 91.4% comprises long-term funding, most of which was obtained at fixed interest rates, and the disclosure explains that the short-term impact is limited. - FY2026-H1WorsenedAnnual report
「At the end of the first half of the current fiscal year, the balance of interest-bearing debt had increased by ¥195.1 billion from the end of the previous fiscal year to ¥3.2730 trillion.」
The balance of interest-bearing debt increased by ¥195.1 billion from the end of the previous fiscal year to ¥3.2730 trillion. The disclosure describes an increase in the amount of debt potentially affected by fluctuations in market interest rates. - FY2025MitigatedAnnual report
「Regarding higher interest rates, 91.2% of the group’s interest-bearing debt comprises long-term funding, including bonds and long-term borrowings, most of which was obtained at fixed interest rates. Accordingly, the impact on the group’s financial position, operating results and cash flows is limited in the short term.」
The disclosure shows that 91.2% of interest-bearing debt comprises long-term funding, most of which was obtained at fixed interest rates, and explains that the short-term impact of higher interest rates is limited. Year-end interest-bearing debt was also ¥3.0778 trillion, down ¥1.2 billion from the end of the previous fiscal year. - FY2025-H1WorsenedAnnual report
「At the end of the first half of the current fiscal year, the balance of interest-bearing debt had increased by ¥21.5 billion from the end of the previous fiscal year to ¥3.1007 trillion.」
The balance of interest-bearing debt increased by ¥21.5 billion from the end of the previous fiscal year to ¥3.1007 trillion. The disclosure describes an increase in the amount of debt potentially affected by fluctuations in market interest rates. - FY2024-Q3WorsenedAnnual report
「Bonds 862,960 767,960 Long-term borrowings 1,548,176 1,716,162 Short-term borrowings 280,276 307,866」
Compared with the end of the previous fiscal year, bonds decreased while long-term and short-term borrowings increased. The amount of interest-bearing debt potentially affected by market interest rates increased during the quarter. - FY2024-Q2WorsenedAnnual report
「At the end of the second quarter of the current fiscal year, the balance of interest-bearing debt had increased by ¥84.2 billion from the end of the previous fiscal year to ¥3.0099 trillion.」
The balance of interest-bearing debt increased by ¥84.2 billion from the end of the previous fiscal year to ¥3.0099 trillion. The disclosure describes an increase in the amount of debt potentially affected by fluctuations in market interest rates. - FY2024-Q1WorsenedAnnual report
「Bonds 862,960 842,960 Long-term borrowings 1,548,176 1,666,341 Short-term borrowings 280,276 283,234」
From the end of the previous fiscal year, long-term borrowings increased from ¥1.5481 trillion to ¥1.6663 trillion, and short-term borrowings increased from ¥280.2 billion to ¥283.2 billion. The amount of interest-bearing debt potentially affected by market interest rates increased during the quarter. - FY2023-Q2WorsenedAnnual report
「At the end of the second quarter of the current fiscal year, the balance of interest-bearing debt had increased by ¥159.7 billion from the end of the previous fiscal year to ¥2.9599 trillion.」
The balance of interest-bearing debt increased by ¥159.7 billion from the end of the previous fiscal year to ¥2.9599 trillion. The disclosure describes an increase in the amount of debt potentially affected by fluctuations in market interest rates. - FY2023-Q1WorsenedAnnual report
「Bonds 792,760 851,760 Long-term borrowings 1,397,301 1,433,720 Short-term borrowings 269,044 271,440 Commercial paper 79,000 79,000」
From the end of the previous fiscal year, bonds increased from ¥792,760 million to ¥851,760 million, long-term borrowings increased from ¥1,397,301 million to ¥1,433,720 million, and short-term borrowings increased from ¥269,044 million to ¥271,440 million, increasing interest-bearing debt potentially affected by market interest rates. - FY2022-Q3WorsenedAnnual report
「Bonds 723,260 812,760 Long-term borrowings 1,125,401 1,378,252 Short-term borrowings 262,442 265,333 Commercial paper 20,000 117,000」
On the balance sheet, the balances of bonds, long-term borrowings, short-term borrowings and commercial paper increased from the end of the previous fiscal year, expanding the amount of interest-bearing debt potentially affected by fluctuations in market interest rates. - FY2022-Q2WorsenedAnnual report
「At the end of the second quarter of the current fiscal year, the balance of interest-bearing debt had increased by ¥287.7 billion from the end of the previous fiscal year to ¥2.6214 trillion.」
The balance of interest-bearing debt increased by ¥287.7 billion from the end of the previous fiscal year, increasing the amount of debt potentially affected by fluctuations in market interest rates. - FY2021MitigatedAnnual report
「The group’s interest-bearing debt totaled ¥2.3336 trillion as of 31 March 2021, equivalent to 41.0% of total assets. Although interest expense rises or falls with fluctuations in market interest rates, 87.6% of interest-bearing debt comprises long-term funding, including bonds and long-term borrowings, most of which was obtained at fixed interest rates, limiting the impact on the group’s financial position, operating results and cash flows.」
Interest-bearing debt decreased by ¥91.4 billion from the end of the same period of the previous year to ¥2.3336 trillion, and represented 41.0% of total assets. The disclosure shows that 87.6% comprised long-term funding. - FY2021-Q2MitigatedAnnual report
「At the end of the second quarter of the current fiscal year, the balance of interest-bearing debt had decreased by ¥19.3 billion from the end of the previous fiscal year to ¥2.4057 trillion.」
The balance of interest-bearing debt decreased by ¥19.3 billion from the end of the previous fiscal year, reducing the amount of debt potentially affected by fluctuations in market interest rates from the fiscal year-end level. - FY2020-Q2MitigatedAnnual report
「At the end of the second quarter of the current fiscal year, the balance of interest-bearing debt had decreased by ¥637.3 billion from the end of the previous fiscal year to ¥2.3437 trillion.」
The balance of interest-bearing debt decreased by ¥637.3 billion from the end of the previous fiscal year, reducing the amount of debt potentially affected by fluctuations in market interest rates. - FY2020-Q1Transfer of interest-bearing debt to JERAAnnual report
「As a result of the transfer of the thermal power generation business and other operations, assets including steam power generation facilities and liabilities including interest-bearing debt were transferred to JERA.」
The disclosure states that assets including steam power generation facilities and liabilities including interest-bearing debt were transferred to JERA in connection with the transfer of the thermal power generation business and other operations to JERA. - FY2019WorsenedAnnual report
「The group’s interest-bearing debt totaled ¥2.9811 trillion as of 31 March 2019, equivalent to 49.8% of total assets. As interest expense rises or falls with fluctuations in market interest rates, financial performance may be affected. However, ¥599.2 billion of this interest-bearing debt was transferred to JERA on 1 April 2019. Of the remaining interest-bearing debt, 85.9% comprises long-term funding, including bonds and long-term borrowings, most of which was obtained at fixed interest rates, limiting the impact on financial performance.」
Interest-bearing debt totaled ¥2.9811 trillion, or 49.8% of total assets, increasing from the end of the previous fiscal year. The disclosure also describes the amount scheduled to be transferred to JERA and explains that fixed-rate funding limits the impact. - FY2019-Q2WorsenedAnnual report
「At the end of the second quarter of the current fiscal year, the balance of interest-bearing debt had increased by ¥4.2 billion from the end of the previous fiscal year to ¥2.5999 trillion.」
The balance of interest-bearing debt increased by ¥4.2 billion from the end of the previous fiscal year, increasing the amount of debt potentially affected by fluctuations in market interest rates. - FY2018MitigatedAnnual report
「The group’s interest-bearing debt totaled ¥2.5956 trillion as of 31 March 2018, equivalent to 46.9% of total assets. As interest expense rises or falls with fluctuations in market interest rates, financial performance may be affected. However, 85.4% of interest-bearing debt comprises long-term funding, including bonds and long-term borrowings, most of which was obtained at fixed interest rates, limiting the impact on financial performance.」
The balance of interest-bearing debt decreased by ¥79.1 billion from the end of the previous fiscal year, and its ratio to total assets fell from 49.4% to 46.9%. The explanation that long-term, fixed-rate funding limits the impact was retained. - FY2018-Q2MitigatedAnnual report
「At the end of the second quarter of the current fiscal year, the balance of interest-bearing debt had decreased by ¥42.6 billion from the end of the previous fiscal year to ¥2.6321 trillion.」
The balance of interest-bearing debt decreased by ¥42.6 billion from the end of the previous fiscal year, reducing the amount of debt potentially affected by fluctuations in market interest rates. - FY2017WorsenedAnnual report
「The group’s interest-bearing debt totaled ¥2.6747 trillion as of 31 March 2017, equivalent to 49.4% of total assets. As interest expense rises or falls with fluctuations in market interest rates, financial performance may be affected. However, 86.4% of interest-bearing debt comprises long-term funding, including bonds and long-term borrowings, most of which was obtained at fixed interest rates, limiting the impact on financial performance.」
The balance of interest-bearing debt and its ratio to total assets increased from the previous disclosure, while an explanation was added that long-term, fixed-rate funding limits the impact. - FY2016First statedAnnual report
「The group’s interest-bearing debt totaled ¥2.6254 trillion as of 31 March 2016, equivalent to 47.4% of total assets. As interest expense rises or falls with fluctuations in market interest rates, financial performance may be affected.」
The disclosure shows the balance of interest-bearing debt and its percentage of total assets, and explains the risk from fluctuations in market interest rates.