In Risk Monster's fourth Debt King Ranking survey, Toyota Motor Corporation had the largest total amount of interest-bearing debt among listed companies, at more than ¥43 trillion. Debt increased from the previous survey at 18 of the 20 companies, while Nippon Steel Corporation, KDDI Corporation, and Central Japan Railway Company newly entered the Top 20.
The survey analyzed the size and trends of interest-bearing debt based on the latest consolidated financial results summaries and covered 3,056 companies, excluding financial institutions. Toyota Motor Corporation had the largest amount of interest-bearing debt, reaching ¥43.2054 trillion. SoftBank Group Corp. ranked second, followed by Nippon Telegraph and Telephone Corporation in third place.
The Top 20 included 3 new entrants: Nippon Steel Corporation, KDDI Corporation, and Central Japan Railway Company. The rankings near the top changed little. By industry, there were 4 telecommunications companies and 3 companies each from automobile manufacturing and general leasing, while multiple companies were also selected from the electric power, railway, and general trading industries.
Compared with the previous period, interest-bearing debt increased at 18 of the Top 20 companies. The largest increases were recorded by SoftBank Group Corp., Nippon Telegraph and Telephone Corporation, and Toyota Motor Corporation, in that order. Debt decreased only at Central Japan Railway Company and Kansai Electric Power.
The safety of the Top 20 companies was analyzed using 3 indicators: the cash and deposits turnover period, borrowing dependence, and equity ratio. 6 companies were found to fall within the high-risk range. However, these indicators do not indicate the probability of bankruptcy of any individual company, and some companies may be judged to present high risk on certain indicators.