Interest-Rate Risk on Borrowings
First written in FY2017. 2 of 4 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 13 of 59 companies on the "Worse" side.
93 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「Derivatives are used to hedge the risk of fluctuations in interest rates on borrowings, and no speculative transactions are conducted.」
The policy of using derivatives for purposes other than speculation has been reconfirmed, even in the absence of interest-bearing debt and interest payments. - FY2025RestatedAnnual report
「Because there were no interest-bearing debt or interest payments from the fiscal year ended February 2023 through the fiscal year ended February 2025, the cash flow-to-interest-bearing debt ratio and interest coverage ratio are not disclosed.」
The absence of interest-bearing debt and interest payments has continued, reconfirming that there is no exposure to interest rate fluctuation risk on borrowings. - FY2018MitigatedAnnual report
「There were no applicable matters for the consolidated fiscal year ended 28 February 2018.」
Following repayment of the long-term borrowings, there were no borrowings scheduled for repayment or interest rate swap transactions subject to disclosure at year-end, reducing exposure to interest rate fluctuation risk on borrowings. - FY2017First statedAnnual report
「Long-term borrowings are used mainly to finance capital expenditures. For borrowings at variable interest rates, interest rates are fixed using derivatives transactions, specifically interest rate swaps, to avoid exposure to interest rate fluctuation risk.」
The disclosure describes interest rate fluctuation risk on borrowings and the use of interest rate swaps to fix rates. Current maturities of long-term borrowings at the end of the fiscal year were ¥626.000 million.