Fluctuations in Held Shares, Pension Assets and Interest Rates
First written in FY2016. 25 of 33 entries say "Materialised", first in FY2017-Q1. Latest entry: 2026-07-27.
Toho Gas moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2019: 12 of 22 companies on the "Worse" side.
4 other companies' latest entry also says "Materialised".
- 2026-07-27MaterialisedEarnings
「Net assets increased by ¥18.049 billion from the end of the previous fiscal year. This was mainly because valuation difference on available-for-sale securities increased as the market value of shares held and other assets rose.」
The rise in the market value of shares held and other assets was reflected in increases in valuation difference on available-for-sale securities and net assets. - FY2026MaterialisedAnnual report
「Net assets increased by ¥29,124 million from the end of the previous fiscal year. This was primarily due to an increase in the valuation difference on available-for-sale securities as the market value of shares and other holdings rose.」
The rise in the market value of shares and other holdings was reflected in an increase in the valuation difference on available-for-sale securities from ¥61,706 million at the end of the previous fiscal year to ¥82,249 million, and in net assets of ¥477,519 million. - 2026-04-30MaterialisedEarnings
「Net assets increased by ¥29.124 billion from the end of the previous fiscal year. This was mainly because valuation difference on available-for-sale securities increased as the market value of shares held and other assets rose.」
The rise in the market value of shares held and other assets was reflected in increases in valuation difference on available-for-sale securities and net assets. - FY2026-H1MaterialisedAnnual report
「Valuation difference on available-for-sale securities 61,706 73,588」
Changes in the valuation of securities held were reflected in net assets as an increase in the valuation difference on available-for-sale securities from ¥61,706 million at the end of the previous fiscal year to ¥73,588 million at the end of the interim period. The balance of investment securities also increased from ¥170,019 million to ¥188,700 million. - FY2025-H1MaterialisedAnnual report
「Valuation difference on available-for-sale securities 65,966 57,329」
Changes in the valuation of securities held were reflected in net assets as a decline in the valuation difference on available-for-sale securities from ¥65,966 million at the end of the previous fiscal year to ¥57,329 million at the end of the interim period. The valuation difference on available-for-sale securities also declined by ¥8,637 million during the interim period. - FY2024-Q3MaterialisedAnnual report
「Valuation difference on available-for-sale securities 44,071 55,497」
The valuation difference on available-for-sale securities increased from ¥44,071 million at the end of the previous fiscal year to ¥55,497 million at the end of the third quarter of the current fiscal year, reflecting changes in the valuation of securities held in net assets. - FY2024-Q2MaterialisedAnnual report
「Valuation difference on available-for-sale securities 44,071 56,144」
The valuation difference on available-for-sale securities increased from ¥44,071 million at the end of the previous fiscal year to ¥56,144 million at the end of the second quarter of the current fiscal year, reflecting changes in the valuation of securities held in net assets. - FY2024-Q1MaterialisedAnnual report
「Valuation difference on available-for-sale securities 44,071 52,194」
The valuation difference on available-for-sale securities increased from ¥44,071 million at the end of the previous fiscal year to ¥52,194 million at the end of the first quarter of the current fiscal year, reflecting changes in the valuation of securities held in net assets. - FY2023-Q3MaterialisedAnnual report
「Valuation difference on available-for-sale securities 43,731 41,029」
The valuation difference on available-for-sale securities moved from ¥43,731 million at the end of the previous fiscal year to ¥41,029 million at the end of the third quarter of the current fiscal year, reflecting changes in the valuation of securities held in net assets. - FY2023-Q2MaterialisedAnnual report
「Valuation difference on available-for-sale securities 1,899 △ 5,607」
The valuation difference on available-for-sale securities moved from a positive ¥1,899 million in the same period of the previous year to a negative ¥5,607 million in the current fiscal year, reflecting changes in the valuation of securities held in comprehensive income. - FY2023-Q1MaterialisedAnnual report
「Valuation difference on available-for-sale securities △ 2,261 △ 3,403」
The valuation difference on available-for-sale securities moved from a negative ¥2,261 million in the same period of the previous year to a negative ¥3,403 million in the current quarter, reflecting changes in the valuation of securities held in comprehensive income. - FY2022-Q3MaterialisedAnnual report
「Valuation difference on available-for-sale securities 10,009 677」
Changes in the valuation of securities held were reflected in the valuation difference on available-for-sale securities, which moved from ¥10,009 million in the same period of the previous year to ¥677 million in the cumulative third quarter of the current fiscal year. - FY2022-Q2MaterialisedAnnual report
「Valuation difference on available-for-sale securities 4,863 1,899」
Changes in the valuation of securities held were reflected in the valuation difference on available-for-sale securities, which moved from ¥4,863 million in the same period of the previous year to ¥1,899 million in the cumulative second quarter of the current fiscal year. - FY2022-Q1MaterialisedAnnual report
「Valuation difference on available-for-sale securities 3,199 △ 2,261」
Changes in the valuation of securities held were reflected in the valuation difference on available-for-sale securities, which moved from a positive ¥3,199 million in the same quarter of the previous year to a negative ¥2,261 million in the current quarter. - FY2021MaterialisedAnnual report
「Net assets increased by ¥36.723 billion from the end of the previous fiscal year. This was mainly because valuation difference on available-for-sale securities increased as the market value of held shares and other securities rose. As a result, the equity ratio increased from 57.2% at the end of the previous fiscal year to 59.7%.」
The rise in the market value of shares and other holdings was reflected in results through an increase in the valuation difference on available-for-sale securities, a ¥36,723 million increase in net assets, and an equity ratio of 59.7%. - FY2021-Q3MaterialisedAnnual report
「Valuation difference on available-for-sale securities 4,241 10,009」
Changes in the market value of securities held appeared in valuation difference on available-for-sale securities, which increased from ¥4.241 billion in the same period of the previous year to ¥10.009 billion during the first nine months of the fiscal year. - FY2021-Q2MaterialisedAnnual report
「Valuation difference on available-for-sale securities - 756 4,863」
Valuation difference on available-for-sale securities moved from negative ¥756 million in the same period of the previous year to ¥4.863 billion in the current period, with changes in the valuation of securities held reflected in comprehensive income. - FY2021-Q1MaterialisedAnnual report
「Valuation difference on available-for-sale securities - 1,793 3,199」
Valuation difference on available-for-sale securities moved from negative ¥1.793 billion in the same period of the previous year to positive ¥3.199 billion in the current period, with changes in the valuation of securities held reflected in comprehensive income. - FY2020MaterialisedAnnual report
「Net assets decreased by ¥4.570 billion from the end of the previous fiscal year. This was mainly because valuation difference on available-for-sale securities decreased as the market value of held shares and other securities declined. As a result, the equity ratio decreased from 59.5% at the end of the previous fiscal year to 57.2%.」
The decline in the market value of held shares and other securities appeared as a decrease in valuation difference, a ¥4.570 billion decline in net assets and a decrease in the equity ratio to 57.2%. - FY2020-Q3MaterialisedAnnual report
「Valuation difference on available-for-sale securities - 7,865 4,241」
Changes in the valuation of securities held appeared in other comprehensive income, with valuation difference on available-for-sale securities moving from negative ¥7.865 billion in the same period of the previous year to ¥4.241 billion in the current period. - FY2020-Q2MaterialisedAnnual report
「Valuation difference on available-for-sale securities - 756」
Changes in the valuation of securities held appeared in comprehensive income as a negative ¥756 million in valuation difference on available-for-sale securities for the first six months of the fiscal year. - FY2020-Q1MaterialisedAnnual report
「Other comprehensive income Valuation difference on available-for-sale securities - 83 -1,793」
Valuation difference on available-for-sale securities decreased from negative ¥83 million in the same period of the previous year to negative ¥1.793 billion in the current quarter, with changes in the valuation of securities held reflected in comprehensive income. - FY2019MaterialisedAnnual report
「During the consolidated fiscal year, impairment accounting was applied and an impairment loss of ¥421 million on investment securities was recorded.」
In connection with market fluctuations in held shares and other securities, an impairment loss on investment securities of ¥421 million was recorded. - FY2019-Q3MaterialisedAnnual report
「Net assets decreased by ¥9.146 billion from the end of the previous fiscal year. This was mainly because valuation difference on available-for-sale securities decreased as the market value of held shares and other securities declined. As a result, the equity ratio decreased from 60.3% at the end of the previous fiscal year to 58.6%.」
The decline in the market value of held shares and other securities appeared in the results as a decrease in valuation difference on available-for-sale securities, a decline in net assets and a lower equity ratio. - FY2019-Q2RestatedAnnual report
「There were no material changes in the risks relating to the Group's business and other matters during the six months ended the second quarter.」
No material changes were identified in the risks related to fluctuations in held shares, pension assets and interest rates. - FY2019-Q1RestatedAnnual report
「There were no material changes in the risks relating to the Group's business and other matters during the nine months ended the first quarter.」
No material changes were identified in the risks related to fluctuations in held shares, pension assets and interest rates. - FY2018-Q3RestatedAnnual report
「There were no material changes in the risks relating to the Group's business and other matters during the nine months ended the third quarter.」
No material changes were identified in the risks related to fluctuations in held shares, pension assets and interest rates. - FY2018-Q2RestatedAnnual report
「There were no material changes in the risks relating to the Group's business and other matters during the six months ended the second quarter.」
No material changes were identified in the risks related to fluctuations in held shares, pension assets and interest rates. - FY2017RestatedAnnual report
「The shares, pension assets and other assets held by the Group may affect its earnings and expenses when stock prices, interest rates and other factors fluctuate. In addition, changes in funding interest rates due to trends in market interest rates may affect its earnings and expenses. However, most interest-bearing debt consists of long-term borrowings and bonds financed at fixed interest rates, limiting the impact of interest rate fluctuations.」
The explanation of the risks from fluctuations in held shares, pension assets and interest rates, and the limited impact due to fixed-rate financing, remains unchanged. - FY2017-Q3RestatedAnnual report
「There were no material changes in the risks relating to the Group's business and other matters during the nine months ended the third quarter.」
No material changes were identified in the risks related to fluctuations in held shares, pension assets and interest rates. - FY2017-Q2RestatedAnnual report
「There were no material changes in the risks relating to the Group's business and other matters during the six months ended the second quarter.」
No material changes were identified in the risks related to fluctuations in held shares, pension assets and interest rates. - FY2017-Q1MaterialisedAnnual report
「Extraordinary loss: impairment loss on investment securities 480」
An impairment loss of ¥480 million on investment securities was recorded as an extraordinary loss, reflecting changes in the valuation of securities held. - FY2016First statedAnnual report
「The shares, pension assets and other assets held by the Group may affect its earnings and expenses when stock prices, interest rates and other factors fluctuate. In addition, changes in funding interest rates due to trends in market interest rates may affect its earnings and expenses.」
The Company also states that most long-term borrowings and bonds carry fixed interest rates, limiting the impact of interest rate fluctuations.