Interest-rate risk on borrowings and hedging with interest-rate swaps
First written in FY2017. 1 of 7 entries say "Dropped", first in FY2026. Latest entry: FY2026.
The whole theme swung hardest in 2025: 12 of 58 companies on the "Worse" side.
9 other companies' latest entry also says "Dropped".
- FY2026DroppedAnnual report
「Fiscal year ended 31 March 2026 There are no applicable matters.」
Although the notional amount and fair value of interest rate swaps had been disclosed through the previous year, there were no applicable derivative transactions to which hedge accounting was applied in the fiscal year ended 31 March 2026. However, the policy of hedging the risk of variable-rate borrowings with interest rate swaps is stated in the notes to financial instruments. - FY2025Interest rate swap notional amounts and the valuation difference liability narrowedAnnual report
「Interest rate swap transactions Receive floating, pay fixed Long-term borrowings 208,660 183,100 △139」
The notional amount of interest rate swaps declined from ¥234.220 million in the previous year to ¥208.660 million, while the fair value liability narrowed from negative ¥2.005 million to negative ¥139 thousand. - FY2022Interest rate swap notional amounts declined, reducing the valuation difference liabilityAnnual report
「Interest rate swap transactions Receive floating, pay fixed Long-term borrowings 285,340 259,780 △6,878」
The notional amount of interest rate swaps declined from ¥310.900 million in the previous year to ¥285.340 million, while the fair value liability narrowed from negative ¥11.187 million to negative ¥6.878 million. The policy of hedging interest rate fluctuation risk remains in place. - FY2021Interest rate swap notional amounts declined, reducing the valuation difference liabilityAnnual report
「Interest rate swap transactions Receive floating, pay fixed Long-term borrowings 310,900 285,340 △11,187」
The notional amount of interest rate swaps declined from ¥369.460 million in the previous year to ¥310.900 million, while their fair value was negative ¥11.187 million. - FY2020Interest rate swap notional amounts declined further, and a valuation difference was recordedAnnual report
「Interest rate swap transactions Receive floating, pay fixed Long-term borrowings 336,460 310,900 △13,897 Total 369,460 310,900 △13,897」
The total notional amount of interest rate swaps used to hedge interest rate fluctuation risk declined to ¥369.460 million from ¥431.020 million in the previous year. The fair value of transactions accounted for under the general treatment method was negative ¥13.897 million. - FY2018Interest rate swap contract amount decreasedAnnual report
「Interest rate swap transactions Receive floating, pay fixed Long-term borrowings 552,572 471,008」
The notional amount of interest rate swaps used to hedge interest rate fluctuation risk was ¥552.572 million, of which ¥471.008 million had a remaining term of more than 1 year, down from ¥634.136 million and ¥552.572 million, respectively, in the previous year. - FY2017First statedAnnual report
「Borrowings are primarily used to finance working capital and capital expenditures. As most borrowings carry fixed interest rates, exposure to interest rate fluctuation risk is minimal. Some borrowings carry variable interest rates and are therefore exposed to interest rate fluctuation risk, which is hedged using interest rate swaps.」
Some borrowings are exposed to interest rate fluctuation risk, which is hedged using interest rate swaps.