Borrowings and Interest Rate Risk
First written in FY2016. 18 of 30 entries say "Worsened", first in FY2019. Latest entry: FY2026.
Uex moved to the "Worse" side of this theme in 2019, 6 years before the typical company in this theme (2025).
The whole theme swung hardest in 2025: 13 of 59 companies on the "Worse" side.
6 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「Consolidated interest-bearing debt at the end of the consolidated fiscal year was ¥13,876,160 thousand. Accordingly, future changes in interest rates may affect operating results and financial position.」
Consolidated interest-bearing debt increased from ¥12,147,452 thousand at the end of the previous fiscal year to ¥13,876,160 thousand, expanding exposure to interest rate fluctuations. - 2026-05-13WorsenedEarnings
「Interest expenses and losses on the sale of bills increased from ¥160,110 thousand in the previous fiscal year to ¥262,568 thousand.」
Interest expenses and losses on the sale of bills increased, in addition to an increase in outstanding borrowings. - FY2026-H1WorsenedAnnual report
「Short-term borrowings 10,048,522 11,225,216 Long-term borrowings 2,067,176 2,004,562」
Total short- and long-term borrowings increased from ¥12,115,698 thousand at the end of the previous consolidated fiscal year to ¥13,229,778 thousand, expanding exposure to borrowings and interest rate fluctuations. - FY2025WorsenedAnnual report
「Consolidated interest-bearing debt at the end of the consolidated fiscal year was ¥12,147,452 thousand. Accordingly, future changes in interest rates may affect operating results and financial position.」
Consolidated interest-bearing debt increased from ¥9,425,645 thousand at the end of the previous fiscal year to ¥12,147,452 thousand, expanding exposure to interest rate fluctuations. The Company is also considering the use of interest rate swaps and other measures. - FY2025-H1WorsenedAnnual report
「Short-term borrowings 7,433,612 8,366,924 Long-term borrowings 1,965,698 1,515,580」
Short-term borrowings increased from ¥7,433,612 thousand to ¥8,366,924 thousand, while long-term borrowings decreased from ¥1,965,698 thousand to ¥1,515,580 thousand. Total borrowings increased from ¥9,399,310 thousand to ¥9,882,504 thousand, expanding exposure to interest rate fluctuations. - FY2024WorsenedAnnual report
「Consolidated interest-bearing debt at the end of the consolidated fiscal year was ¥9,425,645 thousand. Accordingly, future changes in interest rates may affect operating results and financial position.」
Consolidated interest-bearing debt increased from ¥8,290,611 thousand at the end of the previous fiscal year to ¥9,425,645 thousand. While the Company describes its policy of responding through interest rate swaps and other measures, it states that it is considering the use of hedges for some long-term borrowings in response to market conditions. - FY2024-Q3WorsenedAnnual report
「Short-term borrowings 5,851,172 8,035,012 Long-term borrowings 2,409,310 1,795,301」
Short-term borrowings increased from ¥5,851,172 thousand to ¥8,035,012 thousand, while long-term borrowings decreased from ¥2,409,310 thousand to ¥1,795,301 thousand. Total short- and long-term borrowings increased from ¥8,260,482 thousand to ¥9,830,313 thousand, expanding exposure to interest rate fluctuations. - FY2024-Q2WorsenedAnnual report
「Short-term borrowings 5,851,172 7,338,152 Long-term borrowings 2,409,310 1,968,304」
Short-term borrowings increased from ¥5,851,172 thousand to ¥7,338,152 thousand, while long-term borrowings decreased from ¥2,409,310 thousand to ¥1,968,304 thousand. Total short- and long-term borrowings increased from ¥8,260,482 thousand to ¥9,306,456 thousand, expanding exposure to interest rate fluctuations. - FY2024-Q1WorsenedAnnual report
「Short-term borrowings 5,851,172 7,366,162 Long-term borrowings 2,409,310 2,236,307」
Short-term borrowings increased from ¥5,851,172 thousand to ¥7,366,162 thousand, while long-term borrowings decreased from ¥2,409,310 thousand to ¥2,236,307 thousand. Total borrowings increased from ¥8,260,482 thousand to ¥9,602,469 thousand, expanding exposure to interest rate fluctuations. - FY2023Slight increase in interest-bearing debtAnnual report
「Consolidated interest-bearing debt at the end of the consolidated fiscal year was ¥8,290,611 thousand. Accordingly, future changes in interest rates may affect operating results and financial position. The Company has also entered into some interest rate swap transactions to mitigate interest rate risk.」
Consolidated interest-bearing debt increased slightly from ¥8,256,259 thousand at the end of the previous fiscal year to ¥8,290,611 thousand. Measures involving interest rate swaps and the management regulations have continued. - FY2023-Q3Increase in short-term borrowings and decrease in long-term borrowings resulted in an increase from the previous fiscal year-endAnnual report
「Short-term borrowings 5,422,900 5,986,174 Long-term borrowings 2,810,446 2,305,319」
Short-term borrowings increased by ¥563,274 thousand from the end of the previous consolidated fiscal year, while long-term borrowings decreased by ¥505,127 thousand. Total borrowings increased from ¥8,233,346 thousand to ¥8,291,493 thousand, but decreased from ¥8,779,504 thousand at the end of the previous quarter. - FY2023-Q2Increase in short-term borrowings and decrease in long-term borrowings resulted in an increase from the previous fiscal year-endAnnual report
「Short-term borrowings 5,422,900 6,308,044 Long-term borrowings 2,810,446 2,471,460」
Short-term borrowings increased by ¥885,144 thousand from the end of the previous consolidated fiscal year, while long-term borrowings decreased by ¥338,986 thousand. Total borrowings increased from ¥8,233,346 thousand to ¥8,779,504 thousand, but decreased from ¥8,840,325 thousand at the end of the previous quarter. - FY2023-Q1WorsenedAnnual report
「Short-term borrowings 5,422,900 6,197,854 Long-term borrowings 2,810,446 2,642,471」
Short-term borrowings increased from ¥5,422,900 thousand to ¥6,197,854 thousand, while long-term borrowings decreased from ¥2,810,446 thousand to ¥2,642,471 thousand. Total short- and long-term borrowings increased from ¥8,233,346 thousand to ¥8,840,325 thousand, expanding exposure to interest rate fluctuations. - FY2022MitigatedAnnual report
「Consolidated interest-bearing debt at the end of the consolidated fiscal year was ¥8,256,259 thousand. Accordingly, future changes in interest rates may affect operating results and financial position. The Company has also entered into some interest rate swap transactions to mitigate interest rate risk.」
Interest-bearing debt decreased from ¥9,277,272 thousand at the end of the previous fiscal year to ¥8,256,259 thousand, while measures involving interest rate swaps also continued. Interest rate risk itself continues to be recognised. - FY2022-Q3MitigatedAnnual report
「Short-term borrowings 5,783,862 5,612,114 Long-term borrowings 3,473,346 2,971,493」
Both short- and long-term borrowings decreased from the end of the previous consolidated fiscal year, reducing total borrowings from ¥9,257,208 thousand to ¥8,583,607 thousand. Total liabilities increased due to higher trade payables, but exposure to borrowings and interest rate fluctuations narrowed. - FY2022-Q2MitigatedAnnual report
「Short-term borrowings 5,783,862 5,521,678 Long-term borrowings 3,473,346 3,139,504」
Short-term borrowings decreased from ¥5,783,862 thousand to ¥5,521,678 thousand, while long-term borrowings decreased from ¥3,473,346 thousand to ¥3,139,504 thousand, reducing total borrowings from the end of the previous consolidated fiscal year. - FY2022-Q1MitigatedAnnual report
「Total liabilities decreased by ¥79,120 thousand from the end of the previous consolidated fiscal year to ¥26,527,031 thousand, despite an increase in electronically recorded obligations, mainly due to a decrease in long-term borrowings and other factors.」
Short-term borrowings decreased from ¥5,783,862 thousand to ¥5,756,502 thousand, while long-term borrowings decreased from ¥3,473,346 thousand to ¥3,300,325 thousand. Exposure to borrowings and interest rate fluctuations has narrowed from the end of the previous consolidated fiscal year. - FY2021MitigatedAnnual report
「Consolidated interest-bearing debt at the end of the consolidated fiscal year was ¥9,277,272 thousand. Accordingly, future changes in interest rates may affect operating results and financial position. The Company has also entered into some interest rate swap transactions to mitigate interest rate risk.」
Interest-bearing debt decreased from ¥9,490,789 thousand at the end of the previous fiscal year, and measures involving interest rate swaps and the management regulations have continued. Interest rate risk itself continues to be recognised. - FY2021-Q3WorsenedAnnual report
「Short-term borrowings 5,371,881 6,478,290 Long-term borrowings 4,093,794 3,643,607」
Short-term borrowings increased from ¥5,371,881 thousand at the end of the previous consolidated fiscal year to ¥6,478,290 thousand, while long-term borrowings decreased from ¥4,093,794 thousand to ¥3,643,607 thousand. Total borrowings increased, and exposure to interest rate fluctuations remains high. - FY2021-Q2WorsenedAnnual report
「Short-term borrowings 5,371,881 6,124,477 Long-term borrowings 4,093,794 3,821,188」
Short-term borrowings increased from ¥5,371,881 thousand at the end of the previous consolidated fiscal year to ¥6,124,477 thousand, while long-term borrowings decreased from ¥4,093,794 thousand to ¥3,821,188 thousand. Total short- and long-term borrowings increased, expanding exposure to interest rate fluctuations. - FY2021-Q1WorsenedAnnual report
「Short-term borrowings 5,371,881 6,585,669 Long-term borrowings 4,093,794 3,996,769」
Short-term borrowings increased from ¥5,371,881 thousand at the end of the previous consolidated fiscal year to ¥6,585,669 thousand. Long-term borrowings decreased from ¥4,093,794 thousand to ¥3,996,769 thousand, but total short- and long-term borrowings increased, expanding exposure to interest rate fluctuations. - FY2020WorsenedAnnual report
「Consolidated interest-bearing debt at the end of the consolidated fiscal year was ¥9,490,789 thousand. Accordingly, future changes in interest rates may affect operating results and financial position. The Company has also entered into some interest rate swap transactions to mitigate interest rate risk, and strictly manages these transactions under its Regulations for the Management of Derivative Transactions and Hedge Accounting.」
Consolidated interest-bearing debt increased to ¥9,490,789 thousand, and the expansion of borrowings associated with the acquisition of 住商特殊鋼 increased exposure to interest rate fluctuations. Measures involving interest rate swaps and the management regulations have continued. - FY2020-Q3WorsenedAnnual report
「Short-term borrowings 3,585,488 5,152,508 Long-term borrowings 545,590 4,273,541」
Short-term borrowings increased from ¥3,585,488 thousand at the end of the previous consolidated fiscal year to ¥5,152,508 thousand, while long-term borrowings increased from ¥545,590 thousand to ¥4,273,541 thousand. Against the backdrop of borrowings associated with the acquisition of 住商特殊鋼, exposure to interest-bearing debt and interest rate fluctuations remains high. - FY2020-Q2WorsenedAnnual report
「Net increase (decrease) in short-term borrowings (△ indicates a decrease) 681 3,567,608」
Short-term borrowings increased by a net ¥3,567,608 thousand during the cumulative second-quarter period, with the balance rising from ¥3,585,488 thousand at the end of the previous consolidated fiscal year to ¥7,299,248 thousand. Exposure to borrowings and interest rate fluctuations has increased. - FY2020-Q1WorsenedAnnual report
「In connection with the acquisition of shares, the Company raised total funds of ¥3,605,000 thousand through short-term borrowings from financial institutions on 31 July 2019, as follows.」
The Company obtained total short-term borrowings of ¥3,605,000 thousand in connection with the acquisition of shares in 住商特殊鋼, increasing its exposure to interest-bearing debt and interest rate fluctuations. - FY2019WorsenedAnnual report
「Consolidated interest-bearing debt at the end of the consolidated fiscal year was ¥4,152,312 thousand. Accordingly, future changes in interest rates may affect operating results and financial position. The Company has also entered into some interest rate swap transactions to mitigate interest rate risk, and strictly manages these transactions under its Regulations for the Management of Derivative Transactions and Hedge Accounting.」
Consolidated interest-bearing debt increased from ¥4,094,629 thousand at the end of the previous fiscal year to ¥4,152,312 thousand. Measures involving interest rate swaps and the management regulations have continued. - FY2019-Q3MitigatedAnnual report
「Short-term borrowings 3,293,318 3,277,805 Long-term borrowings 481,804 454,501」
The combined balance of short- and long-term borrowings decreased by ¥42,816 thousand, from ¥3,775,122 thousand at the end of the previous consolidated fiscal year to ¥3,732,306 thousand. - FY2019-Q2MitigatedAnnual report
「Total liabilities decreased by ¥1,278,595 thousand from the end of the previous consolidated fiscal year to ¥22,902,782 thousand, mainly because notes and accounts payable decreased by ¥1,174,916 thousand and short- and long-term borrowings decreased by ¥123,306 thousand.」
Short- and long-term borrowings decreased by ¥123,306 thousand from the end of the previous consolidated fiscal year, while total liabilities decreased by ¥1,278,595 thousand. - FY2018MitigatedAnnual report
「Consolidated interest-bearing debt at the end of the consolidated fiscal year was ¥4,094,629 thousand. Accordingly, future changes in interest rates may affect operating results and financial position. The Company has also entered into some interest rate swap transactions to mitigate interest rate risk.」
Interest-bearing debt stood at ¥4,094,629 thousand, and hedging through interest rate swaps has continued. Interest rate risk itself continues to be disclosed, while debt has declined from ¥5,812,468 thousand at the end of FY2016. - FY2016First statedAnnual report
「Consolidated interest-bearing debt at the end of the period was ¥5,812,468 thousand. Future changes in interest rates may affect operating results and financial position. The Company has also entered into some interest rate swap transactions to mitigate interest rate risk.」
Most funding for inventories and equipment is obtained through borrowings, with part of the exposure hedged using interest rate swaps.