Japanese companies are expanding their toolkit to deal with the steepest borrowing costs in a generation, including considering sales of strategic shareholdings and other assets to offset the impact, a Bloomberg News survey shows.

Other measures under deliberation include borrowing more overseas and bringing forward funding plans, a survey of 30 Japanese nonfinancial companies with outstanding yen bonds shows. Results are based on replies from 14 firms gathered in August.

The findings come against the backdrop of the Bank of Japan headquarters in Tokyo, where monetary policy shifts have pushed up yen-denominated borrowing costs. Companies are reassessing how to manage debt loads as financing conditions tighten sharply.

The survey highlights how firms are weighing multiple options simultaneously, rather than relying on a single response. Asset disposals, overseas borrowing, and accelerated funding all appear on the table as Japanese corporates brace for sustained higher rates.