Interest Rate and Liquidity Risk
First written in FY2016. 7 of 18 entries say "Mitigated", first in FY2021. Latest entry: 2026-11-10.
Totech moved to the "Worse" side of this theme in 2026, 4 years after the typical company in this theme (2022).
The whole theme swung hardest in 2017: 4 of 15 companies on the "Worse" side.
8 other companies' latest entry also says "Worsened".
- 2026-11-10WorsenedResults
「長期金利（新発10年物国債利回り）も2.8％台から3.0％台で推移するなど、金利は上昇しており、金融資本市場の変動の影響に注意が必要な状況です。」
金利上昇と金融資本市場の変動影響を新たな注意要因として記載している。一方、当中間期末の短期・長期借入金は前期末から減少している。 - FY2026WorsenedAnnual report
「At the end of the fiscal year ending March 2026, consolidated interest-bearing debt from external financial institutions, consisting of short-term and long-term borrowings, was ¥5,294 million. Interest-bearing debt represented 4.6% of consolidated total assets.」
Interest-bearing debt increased from ¥3,818 million at the end of the previous fiscal year to ¥5,294 million, while its ratio increased from 3.6% to 4.6%. The figures for financing risks arising from higher interest rates and lower creditworthiness have deteriorated. - FY2026-H1Increase in Interest-Bearing DebtAnnual report
「This was mainly attributable to a net increase of ¥3,193 million in short- and long-term borrowings and dividend payments of ¥3,799 million.」
During the interim period, short-term borrowings increased by ¥4,960 million on a net basis and long-term borrowings decreased by ¥1,766 million due to repayments, resulting in a net increase of ¥3,193 million in short- and long-term borrowings. The combined balance of short-term and long-term borrowings was ¥7,129 million, compared with interest-bearing debt of ¥3,818 million at the end of the previous fiscal year. - FY2025MitigatedAnnual report
「At the end of the fiscal year ended March 2025, consolidated interest-bearing debt from external financial institutions, consisting of short-term and long-term borrowings, was ¥3,818 million. Interest-bearing debt represented 3.6% of consolidated total assets.」
Interest-bearing debt decreased from ¥9,002 million at the end of the previous fiscal year to ¥3,818 million, while its ratio to total assets decreased from 9.0% to 3.6%. Disclosure of financing risks arising from higher interest rates and lower creditworthiness continues. - FY2025-H1MitigatedAnnual report
「Total liabilities decreased by ¥4,136 million from the end of the previous consolidated fiscal year to ¥42,905 million. This was mainly attributable to a ¥2,608 million decrease in current liabilities due to decreases in operating liabilities and accrued corporate income taxes and other taxes, together with a ¥1,735 million decrease in long-term borrowings.」
Long-term borrowings decreased by ¥1,735 million from the end of the previous consolidated fiscal year, and a net decrease of ¥2,135 million in short- and long-term borrowings was also reported under financing activities. Interest-bearing debt levels related to interest rate and liquidity risk have declined. - FY2024MitigatedAnnual report
「At the end of the fiscal year ended March 2024, consolidated interest-bearing debt from external financial institutions, consisting of short-term and long-term borrowings, was ¥9,002 million. Interest-bearing debt represented 9.0% of consolidated total assets.」
Interest-bearing debt decreased from ¥12,327 million at the end of the previous fiscal year to ¥9,002 million, while its ratio to total assets decreased from approximately 13.4% in the previous fiscal year to 9.0%. Disclosure of financing risks arising from higher interest rates and lower creditworthiness continues. - FY2024-Q3Increase in Interest-Bearing DebtAnnual report
「Total liabilities increased by ¥5,018 million from the end of the previous consolidated fiscal year to ¥51,584 million. This was mainly attributable to increases of ¥4,082 million in interest-bearing debt, ¥1,766 million in other current liabilities, ¥1,466 million in notes and accounts payable and electronically recorded obligations, and ¥1,242 million in deferred tax liabilities, despite decreases of ¥1,944 million in accrued bonuses due to bonus payments and ¥1,612 million in accrued corporate income taxes and other taxes.」
Interest-bearing debt increased by ¥4,082 million from the end of the previous consolidated fiscal year. The increase in debt levels related to interest rate and financing risks was identified again following FY2024-Q2. - FY2024-Q2Increase in Interest-Bearing DebtAnnual report
「Total liabilities increased by ¥572 million from the end of the previous consolidated fiscal year to ¥47,138 million. This was mainly attributable to increases of ¥2,733 million in interest-bearing debt, ¥909 million in other current liabilities and ¥578 million in deferred tax liabilities, despite a ¥1,905 million decrease in notes and accounts payable and electronically recorded obligations, a ¥1,027 million decrease in accrued bonuses due to bonus payments, and a ¥748 million decrease in accrued corporate income taxes and other taxes.」
Interest-bearing debt increased by ¥2,733 million from the end of the previous consolidated fiscal year, bringing combined short-term and long-term borrowings to ¥15,060 million. An increase in debt levels related to interest rate and financing risks is evident. - FY2024-Q1MitigatedAnnual report
「Short-term borrowings 6,790 7,246 / Long-term borrowings 5,537 4,457」
The combined balance of short-term and long-term borrowings decreased from ¥12,327 million at the end of the previous consolidated fiscal year to ¥11,703 million at the end of the first quarter. The decline in interest-bearing debt levels related to interest rate and liquidity risk is indicated. - FY2023-Q3Continued increase in interest-bearing debtAnnual report
「Total liabilities increased by ¥4,459 million from the end of the previous consolidated fiscal year to ¥47,483 million. This was mainly attributable to a ¥4,525 million increase in interest-bearing debt and a ¥1,445 million increase in other current liabilities, despite a ¥1,691 million decrease in accrued bonuses.」
Interest-bearing debt increased by ¥4,525 million from the end of the previous consolidated fiscal year, continuing the increase identified in FY2023-Q2. - FY2023-Q2Increase in interest-bearing debt and decrease in operating cash flowAnnual report
「Total liabilities decreased by ¥1,441 million from the end of the previous consolidated fiscal year to ¥41,501 million. This was mainly attributable to a ¥2,909 million increase in interest-bearing debt, offset by a ¥3,320 million decrease in notes and accounts payable, electronically recorded obligations and other current liabilities, a ¥781 million decrease in accrued bonuses due to bonus payments, and a ¥396 million decrease in accrued corporate income taxes and other taxes. / Cash provided by operating activities during the cumulative second quarter was ¥81 million, compared with ¥3,910 million in the same period of the previous year.」
Interest-bearing debt increased by ¥2,909 million from the end of the previous fiscal year, while cash provided by operating activities decreased from ¥3,910 million in the same period of the previous year to ¥81 million. Changes in financial figures related to interest rate and liquidity were shown, but not disclosed as a material change in risk. - FY2022MitigatedAnnual report
「At the end of the fiscal year ended March 2022, consolidated interest-bearing debt from external financial institutions, consisting of short-term borrowings, long-term borrowings and bonds, was ¥12,286 million. Interest-bearing debt represented 14.5% of consolidated total assets.」
Interest-bearing debt decreased from ¥14,082 million in the previous fiscal year to ¥12,286 million, while the ratio decreased from 17.3% to 14.5%. Disclosure of financing risks arising from higher interest rates and lower creditworthiness continues. - FY2022-Q2MitigatedAnnual report
「This was mainly attributable to a ¥2,675 million decrease in notes and accounts payable and electronically recorded obligations, a ¥1,662 million decrease in interest-bearing debt, and a ¥951 million decrease in accrued corporate income taxes and other taxes.」
Interest-bearing debt decreased by ¥1,662 million from the end of the previous consolidated fiscal year, and the decline in debt levels related to interest rate and financing risks has continued. - FY2021MitigatedAnnual report
「At the end of the fiscal year ended March 2021, consolidated interest-bearing debt from external financial institutions, consisting of short-term borrowings, long-term borrowings and bonds, was ¥14,082 million. Interest-bearing debt represented 17.3% of consolidated total assets.」
Interest-bearing debt decreased from ¥16,399 million in the previous fiscal year to ¥14,082 million, while the ratio decreased from 20.4% to 17.3%. Disclosure of financing risks arising from higher interest rates and lower creditworthiness continues. - FY2020RestatedAnnual report
「At the end of the fiscal year ended March 2020, consolidated interest-bearing debt from external financial institutions, consisting of short-term borrowings, long-term borrowings and bonds, was ¥16,399 million. Interest-bearing debt represented 20.4% of consolidated total assets. Accordingly, changes in the operating environment for future financing, such as a future rise in interest rates or a decline in the Company's creditworthiness, could affect the Group's operating results and financial position.」
Interest rate and financing risks are quantified as interest-bearing debt of ¥16,399 million at the end of the fiscal year ended March 2020 and a 20.4% dependence on total assets. - FY2018RestatedAnnual report
「Notes and accounts payable, electronically recorded obligations and borrowings are subject to liquidity risk. The Group manages cash and cash equivalents on a monthly basis by preparing and updating cash flow plans based on expected receipts and payments.」
Liquidity risks relating to borrowings and other liabilities continue to be monitored, and cash and cash equivalents continue to be managed monthly through cash flow planning. - FY2017RestatedAnnual report
「Notes and accounts payable, electronically recorded obligations and borrowings are subject to liquidity risk. The Group manages cash and cash equivalents on a monthly basis by preparing and updating cash flow plans based on expected receipts and payments.」
Liquidity risks relating to borrowings and other liabilities, together with monthly management through cash flow planning, continue to be disclosed. - FY2016First statedAnnual report
「Notes and accounts payable, electronically recorded obligations and borrowings are subject to liquidity risk. The Group manages cash and cash equivalents on a monthly basis by preparing and updating cash flow plans based on expected receipts and payments.」
Interest rate swaps are used to manage interest rate risk on borrowings, and liquidity is managed through cash flow plans.