Dependence on Interest-Bearing Debt and Interest-Rate Risk
First written in FY2016. 19 of 34 entries say "Worsened", first in FY2017-Q3. Latest entry: FY2026.
The whole theme swung hardest in 2020: 63 of 142 companies on the "Worse" side.
- FY2026MitigatedAnnual report
「As a result, interest-bearing debt (borrowings) accounted for 45.7% of total assets as of 30 June 2026, which remains a high level.」
It states that dependence on interest-bearing debt remains high, although the ratio declined from 49.4% in the previous year to 45.7%, and total liabilities also decreased due to repayments of borrowings. - FY2026-H1MitigatedAnnual report
「Amounts payable related to periodic power plant maintenance, long-term borrowings following repayments and accrued corporate taxes associated with lower earnings decreased. As a result, total liabilities decreased by ¥877 million from the end of the previous consolidated fiscal year to ¥25,013 million.」
It states that total liabilities decreased by ¥877 million from the previous fiscal year-end to ¥25,013 million due to repayments of long-term borrowings related to power plant construction and other factors. - FY2025MitigatedAnnual report
「As a result, interest-bearing debt (borrowings) accounted for 49.4% of total assets as of 30 June 2025, which remains a high level.」
It states that dependence on interest-bearing debt remains high, although the ratio declined from 56.0% in the previous year to 49.4%, and long-term borrowings also decreased following repayments. - FY2025-H1MitigatedAnnual report
「Provisions for periodic power plant maintenance, amounts payable arising from the maintenance work and accrued corporate taxes associated with higher earnings increased, while long-term borrowings decreased following repayments. As a result, total liabilities decreased by ¥227 million from the end of the previous consolidated fiscal year to ¥26,800 million.」
Total liabilities decreased by ¥227 million from the previous fiscal year-end to ¥26,800 million due to repayments of long-term borrowings related to power plant construction. Exposure to interest-bearing debt has been partly reduced. - FY2024-Q3WorsenedAnnual report
「Liabilities related to electricity procurement for the Company's electricity retail business, procurement for the operation of group power plants, expenses and other items increased, and long-term borrowings increased following an additional drawdown under the EF-ON Shingu syndicated loan agreement. Meanwhile, provisions for maintenance costs decreased because periodic inspections were conducted at 4 of the 5 power plants operated by subsidiaries. Total liabilities increased by ¥13 million from the end of the previous consolidated fiscal year to ¥27,542 million.」
It states that, following continued decreases due to repayments of long-term borrowings, long-term borrowings increased as a result of an additional drawdown under the EF-ON Shingu syndicated loan, and total liabilities also increased by ¥13 million from the previous fiscal year-end. - FY2024-Q2MitigatedAnnual report
「Liabilities related to electricity procurement for the Company's electricity retail business, procurement for the operation of group power plants, expenses and other items increased, while long-term borrowings related to power plant construction decreased following repayments. As a result, total liabilities decreased by ¥455 million from the end of the previous consolidated fiscal year to ¥27,073 million.」
While liabilities related to electricity procurement and other items increased, total liabilities decreased by ¥455 million to ¥27,073 million due to repayments of long-term borrowings related to power plant construction. - FY2024-Q1MitigatedAnnual report
「Provisions for periodic power plant maintenance and accounts payable for purchased materials and other items increased, while long-term borrowings related to power plant construction decreased following repayments. Total liabilities decreased by ¥118 million from the end of the previous consolidated fiscal year to ¥27,409 million.」
Total liabilities decreased by ¥118 million from the previous fiscal year-end to ¥27,409 million due to repayments of long-term borrowings. Exposure to interest-bearing debt has been partly reduced. - FY2023-Q3MitigatedAnnual report
「Total liabilities decreased overall as short-term borrowings, provisions for maintenance costs and accrued corporate taxes associated with higher earnings increased, while amounts payable related to construction of the Shingu Power Plant decreased following payment and long-term borrowings declined following repayments. Total liabilities decreased by ¥1,220 million from the end of the previous consolidated fiscal year to ¥28,481 million.」
It states that total liabilities decreased by ¥1,220 million from the previous fiscal year-end to ¥28,481 million due to repayments of long-term borrowings and other factors related to dependence on interest-bearing debt. - FY2023-Q2ReframedAnnual report
「Total liabilities increased by ¥252 million from the end of the previous consolidated fiscal year to ¥29,954 million. Accounts payable and short-term borrowings related to materials procured in connection with power plant operations increased, as did accrued corporate taxes due to higher earnings, while the payment of amounts payable related to power plant construction caused a decrease. Overall, current liabilities increased. Non-current liabilities decreased as the outstanding balance of long-term borrowings fell following repayments.」
Total liabilities increased by ¥252 million from the previous fiscal year-end, while accounts payable and short-term borrowings related to power plant operations increased and long-term borrowings declined following repayments, indicating a shift in the composition of liabilities from the construction phase to the operating phase. - FY2023-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
It concludes that there have been no material changes regarding dependence on interest-bearing debt and the risk of rising interest rates. - FY2022WorsenedAnnual report
「Total liabilities at the end of the current consolidated fiscal year increased by ¥1,023 million from the previous consolidated fiscal year to ¥29,702 million, due to increases in accounts payable for power plant construction and borrowings for working capital.」
It states that total liabilities increased to ¥29,702 million due to borrowings and other liabilities related to power plant construction and working capital, in connection with exposure to interest-bearing debt. The interest-bearing debt ratio remains high at 56.0%. - FY2022-Q3WorsenedAnnual report
「Total liabilities increased by ¥1,739 million from the end of the previous consolidated fiscal year, mainly due to an increase in borrowings for power plant construction and working capital, to ¥30,418 million.」
It states that total liabilities increased by ¥1,739 million from the end of the previous fiscal year to ¥30,418 million due to an increase in borrowings for power plant construction and working capital. - FY2022-Q2WorsenedAnnual report
「Total liabilities increased by ¥2,618 million from the end of the previous consolidated fiscal year, mainly due to an increase in borrowings for power plant construction and working capital, to ¥31,297 million.」
It states that total liabilities increased by ¥2,618 million from the end of the previous fiscal year to ¥31,297 million due to an increase in borrowings for power plant construction and working capital, increasing exposure to interest-bearing debt. - FY2022-Q1WorsenedAnnual report
「Total liabilities increased by ¥2,928 million from the end of the previous consolidated fiscal year, mainly due to an increase in borrowings for power plant construction, to ¥31,607 million.」
It states that total liabilities increased by ¥2,928 million from the end of the previous fiscal year due to an increase in borrowings for power plant construction. - FY2021WorsenedAnnual report
「Total liabilities at the end of the current consolidated fiscal year increased by ¥4,266 million from the previous consolidated fiscal year to ¥28,678 million, mainly due to an increase in borrowings for power plant construction and working capital.」
The interest-bearing debt ratio remains high at 55.9%, while total liabilities have increased to ¥28,678 million due to higher borrowings for power plant construction and working capital. - FY2021-Q3WorsenedAnnual report
「Total liabilities increased by ¥2,449 million from the end of the previous consolidated fiscal year, mainly due to an increase in borrowings for power plant construction and working capital, to ¥26,862 million.」
It states that total liabilities increased by ¥2,449 million from the end of the previous consolidated fiscal year to ¥26,862 million, due to an increase in borrowings for power plant construction and working capital. Exposure to interest-bearing debt has increased. - FY2021-Q2WorsenedAnnual report
「Total liabilities increased by ¥2,609 million from the end of the previous consolidated fiscal year, mainly due to an increase in borrowings for power plant construction and working capital, to ¥27,022 million.」
It states that total liabilities increased by ¥2,609 million from the end of the previous consolidated fiscal year to ¥27,022 million, due to an increase in borrowings for power plant construction and working capital. - FY2021-Q1WorsenedAnnual report
「Total liabilities increased by ¥763 million from the end of the previous consolidated fiscal year to 25,176 million, mainly due to increases in borrowings related to power plant construction and working capital.」
It states that total liabilities increased by ¥763 million from the end of the previous consolidated fiscal year due to increases in borrowings related to power plant construction and working capital. - FY2020WorsenedAnnual report
「Accordingly, interest-bearing debt, comprising borrowings, bonds, lease obligations and long-term accounts payable, accounted for 56.0% of total assets as of 30 June 2020, a high level.」
It states that the interest-bearing debt ratio rose from 51.05% in the previous fiscal year to 56.0%, while the year-end balance of interest-bearing debt was ¥22,328 million. - FY2020-Q3WorsenedAnnual report
「Total liabilities increased by ¥5,487 million from the end of the previous consolidated fiscal year to 24,985 million, mainly due to increases in borrowings related to power plant construction and unpaid construction costs.」
It states that total liabilities increased by ¥5,487 million from the end of the previous consolidated fiscal year to ¥24,985 million due to increases in borrowings related to power plant construction and unpaid construction costs. - FY2020-Q2WorsenedAnnual report
「Total liabilities increased by ¥5,223 million from the end of the previous consolidated fiscal year to ¥24,721 million, mainly due to increases in borrowings related to power plant construction and unpaid construction costs.」
It states that total liabilities increased by ¥5,223 million from the end of the previous consolidated fiscal year to ¥24,721 million due to increases in borrowings related to power plant construction and unpaid construction costs. - FY2020-Q1WorsenedAnnual report
「Total liabilities increased by ¥1,666 million from the end of the previous consolidated fiscal year to ¥21,164 million, mainly due to increases in borrowings related to power plant construction and unpaid construction costs.」
It states that total liabilities increased by ¥1,666 million from the end of the previous consolidated fiscal year due to increases in borrowings related to power plant construction and unpaid construction costs. - FY2019-Q3WorsenedAnnual report
「Although there were decreases in income taxes payable and repayments of borrowings, total liabilities increased by ¥1,696 million from the previous consolidated fiscal year to ¥17,962 million, mainly due to increases in long-term borrowings and accounts payable related to construction of new power plants.」
It states that total liabilities increased to ¥17,962 million due to increases in long-term borrowings and construction-related accounts payable associated with construction of new power plants. - FY2019-Q2WorsenedAnnual report
「Although there were decreases in income taxes payable and repayments of borrowings, total liabilities increased by ¥353 million from the previous consolidated fiscal year to ¥16,618 million, mainly due to increases in long-term borrowings and accounts payable related to construction of new power plants.」
Total liabilities increased by ¥353 million from the end of the previous consolidated fiscal year due to increases in long-term borrowings and other liabilities associated with construction of new power plants. - FY2018RestatedAnnual report
「Accordingly, interest-bearing debt, comprising borrowings, bonds, lease obligations and long-term accounts payable, accounted for 51.05% of total assets as of 30 June 2018, a high level. If interest rates rise while dependence on interest-bearing debt remains high, the group's performance and financial position may be affected.」
The interest-bearing debt ratio remained high at 51.05%, and the year-end balance of interest-bearing debt was ¥14,380 million; the risk of rising interest rates continues to be disclosed. - FY2018-Q3WorsenedAnnual report
「Total liabilities increased by ¥2,434 million from the previous consolidated fiscal year to ¥15,412 million, mainly due to an increase in borrowings.」
It states that total liabilities increased by ¥2,434 million from the end of the previous consolidated fiscal year to ¥15,412 million, mainly due to higher borrowings and other factors. Exposure to dependence on interest-bearing debt has expanded. - FY2018-Q2WorsenedAnnual report
「Total liabilities increased by ¥2,147 million from the previous consolidated fiscal year to ¥15,125 million, due to an increase in borrowings and accounts payable, including amounts recognized for periodic maintenance costs at Efon Shirakawa and Efon Hita power plants in November.」
It states that total liabilities increased by ¥2,147 million from the end of the previous consolidated fiscal year to ¥15,125 million, mainly due to higher borrowings and other factors. Exposure to dependence on interest-bearing debt has become more concrete. - FY2018-Q1WorsenedAnnual report
「Total liabilities increased by ¥2,874 million from the previous consolidated fiscal year to ¥15,852 million, mainly due to an increase in borrowings.」
It states that total liabilities actually increased due to higher borrowings associated with the construction of Mibu Power Plant and other factors. Exposure to dependence on interest-bearing debt has expanded. - FY2017-Q3WorsenedAnnual report
「株式会社エフオン壬生 entered into an ¥8.0 billion revolving credit facility agreement with 5 financial institutions, arranged by 株式会社三菱東京ＵＦＪ銀行, dated 31 March 2017, to finance the construction and development of Mibu Power Plant.」
It states that a total ¥8.0 billion revolving credit facility agreement for Mibu Power Plant was newly entered into, making future borrowing capacity and guarantee-related financing exposure more concrete. It does not indicate that the full amount was actually borrowed. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
It concludes that there have been no material changes regarding dependence on interest-bearing debt and the risk of rising interest rates. - FY2017-Q1RestatedAnnual report
「There have been no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
It concludes that there have been no material changes regarding dependence on interest-bearing debt and the risk of rising interest rates. - FY2016First statedAnnual report
「Interest-bearing debt, comprising borrowings, bonds, lease obligations and long-term accounts payable, represented a high 53.0% of total assets as of 30 June 2016. If interest rates rise while the Group remains highly dependent on interest-bearing debt, its results and financial position may be affected.」
The Company discloses as a risk its financial structure, in which capital investments such as power plant construction are financed through borrowings and other debt.