Interest Rate Risk Associated with Interest-Bearing Debt
First written in FY2017. 7 of 9 entries say "Mitigated", first in FY2018. Latest entry: FY2026.
The whole theme swung hardest in 2025: 31 of 96 companies on the "Worse" side.
- FY2026MitigatedAnnual report
「As of the end of March 2026, the consolidated balance of interest-bearing debt of the Group was ¥4,266,618 million, equivalent to 43.3% of total assets. Long-term funds in the form of long-term borrowings and bonds accounted for 96.4% of interest-bearing debt, or ¥4,111,605 million.」
The balance of interest-bearing debt and its ratio to total assets declined from the previous fiscal year. Although long-term funds account for 96.4%, the financing mix continues to be structured primarily at fixed interest rates to limit the impact of interest rate fluctuations. - FY2026-H1MitigatedAnnual report
「Liabilities decreased by ¥250,984 million, or 3.8%, from the end of the previous fiscal year to ¥6,294,218 million, mainly due to decreases in interest-bearing debt, notes and accounts payable, and trade payables.」
Total liabilities decreased 3.8% from the end of the previous fiscal year, including the decline in interest-bearing debt. - FY2024MitigatedAnnual report
「As of the end of March 2024, the consolidated balance of interest-bearing debt of the Group was ¥4,580,482 million, equivalent to 50.7% of total assets. Long-term funds in the form of long-term borrowings and bonds accounted for 96.6% of interest-bearing debt, or ¥4,423,501 million.」
Interest-bearing debt declined, and its ratio to total assets fell to 50.7%. However, some borrowings are at variable interest rates, so market interest rate risk remains. - FY2024-Q3MitigatedAnnual report
「Liabilities decreased by ¥394,506 million, or 5.7%, from the end of the previous fiscal year to ¥6,540,136 million, mainly due to a decrease in interest-bearing debt.」
Total liabilities decreased 5.7% from the end of the previous fiscal year, including the decline in interest-bearing debt. - FY2024-Q2MitigatedAnnual report
「Liabilities decreased by ¥306,663 million, or 4.4%, from the end of the previous fiscal year to ¥6,627,979 million, mainly due to a decrease in interest-bearing debt.」
Total liabilities decreased 4.4% from the end of the previous fiscal year, including the decline in interest-bearing debt. - FY2024-Q1MitigatedAnnual report
「Liabilities decreased by ¥290,111 million, or 4.2%, from the end of the previous fiscal year to ¥6,644,531 million, mainly due to decreases in interest-bearing debt, notes and accounts payable, and trade payables.」
Total liabilities decreased 4.2% from the end of the previous fiscal year, including the decline in interest-bearing debt. - FY2023-Q2Increase in interest-bearing debtAnnual report
「Liabilities increased by ¥205,471 million, or 3.0%, from the end of the previous fiscal year to ¥7,156,345 million, mainly due to an increase in interest-bearing debt.」
Total liabilities increased 3.0% from the end of the previous fiscal year, including the increase in interest-bearing debt. The text provides no new explanation of the impact of market interest rates. - FY2018MitigatedAnnual report
「As of the end of March 2018, the consolidated balance of interest-bearing debt of the Group was ¥3,708,240 million, equivalent to 53.1% of total assets, and the Group's results may be affected by future movements in market interest rates. However, 91.9% of interest-bearing debt, or ¥3,408,013 million, consisted of long-term funds in the form of long-term borrowings and bonds, most of which were raised at fixed interest rates. Accordingly, the impact of interest rate fluctuations on the Group's results is considered limited.」
The balance of interest-bearing debt declined from ¥3,821,550 million to ¥3,708,240 million, while its ratio to total assets fell from 55.8% to 53.1%. The disclosure continues to state that the impact is limited because financing is primarily at fixed interest rates. - FY2017First statedAnnual report
「As of the end of March 2017, the consolidated balance of interest-bearing debt of the Group was ¥3,821,550 million, equivalent to 55.8% of total assets, and the Group's results may be affected by future movements in market interest rates. However, 92.9% of interest-bearing debt, or ¥3,552,025 million, consisted of long-term funds in the form of long-term borrowings and bonds, most of which were raised at fixed interest rates. Accordingly, the impact of interest rate fluctuations on the Group's results is considered limited.」
The balance of interest-bearing debt is quantified, with the disclosure explaining that the impact is limited because financing is primarily at fixed interest rates.