Guarantee liability risk when the share price falls under an employee stock ownership trust
First written in FY2017-Q1. 13 of 27 entries say "Restated". Latest entry: FY2024-Q2.
8 other companies' latest entry also says "Restated".
- FY2024-Q2RestatedAnnual report
「No new business or other risks arose during the cumulative second quarter of the current consolidated fiscal year. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The Company states that there were no new occurrences or material changes in the business and other risks disclosed for the previous fiscal year, including the guarantee obligation risk related to the employee stock ownership trust. - FY2024-Q1RestatedAnnual report
「During the current first-quarter consolidated cumulative period, no new business or other risks arose. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The Company states that there were no new occurrences or material changes in the business and other risks disclosed for the previous fiscal year, including the guarantee obligation risk related to the employee stock ownership trust. - FY2023-Q3RestatedAnnual report
「During the first three quarters of the current consolidated fiscal year, there were no new occurrences or material changes in the major risks that management recognizes as potentially having a material effect on the financial position, operating results or cash flows of the consolidated companies, among the matters concerning the business and financial conditions described in this quarterly report, or in the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The Company states that there were no new occurrences or material changes in major risks, including guarantee obligation risk related to the employee stock ownership trust. - FY2023-Q2RestatedAnnual report
「No new business or other risks arose during the cumulative second quarter of the current consolidated fiscal year. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The Company states that there were no new occurrences or material changes in the business and other risks disclosed for the previous fiscal year, including the guarantee obligation risk related to the employee stock ownership trust. - FY2022-Q3RestatedAnnual report
「During the first three quarters of the current consolidated fiscal year, there were no new occurrences or material changes in the major risks that management recognizes as potentially having a material effect on the financial position, operating results or cash flows of the consolidated companies, among the matters concerning the business and financial conditions described in this quarterly report, or in the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The Company states that there were no new occurrences or material changes in major risks, including guarantee obligation risk related to the employee stock ownership trust. - FY2022-Q2RestatedAnnual report
「No new business or other risks arose during the cumulative second quarter of the current consolidated fiscal year. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The Company states that there were no new occurrences or material changes in the business and other risks disclosed for the previous fiscal year, including the guarantee obligation risk related to the employee stock ownership trust. - FY2022-Q1RestatedAnnual report
「During the current first-quarter consolidated cumulative period, no new business or other risks arose. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The Company states that there were no new occurrences or material changes in the business and other risks disclosed for the previous fiscal year, including the guarantee obligation risk related to the employee stock ownership trust. - FY2021MitigatedAnnual report
「Decrease of 227,300 shares due to the transfer from Nomura Trust and Banking Co., Ltd. (Yamauura Employee Stock Ownership Association Dedicated Trust Account) (the “Employee Stock Ownership Trust”) to the Yamauura Employee Stock Ownership Association」
The transfer of shares held by the Employee Stock Ownership Trust further reduced the guarantee obligation exposure related to the trust if the share price declines. - FY2021-Q3MitigatedAnnual report
「The carrying value and number of treasury shares were ¥203.709 million and 227,300 shares, respectively, at the end of the previous consolidated fiscal year, and ¥7.170 million and 8,000 shares, respectively, at the end of the third quarter of the current consolidated fiscal year.」
The guarantee obligation risk itself continues, but the shares held by the Employee Stock Ownership Trust and their carrying value have decreased to 8,000 shares and ¥7.170 million, respectively, further reducing the guarantee obligation exposure if the share price declines. Borrowings recognized under the gross method were ¥75.890 million. - FY2021-Q2MitigatedAnnual report
「The carrying value and number of treasury shares were ¥203.709 million and 227,300 shares, respectively, at the end of the previous consolidated fiscal year, and ¥45.707 million and 51,000 shares, respectively, at the end of the second quarter of the current consolidated fiscal year.」
The guarantee obligation risk itself continues, but the shares held by the Employee Stock Ownership Trust and related borrowings have decreased, further reducing the guarantee obligation exposure if the share price declines from the previous quarter. - FY2021-Q1MitigatedAnnual report
「The carrying value and number of treasury shares were ¥203.709 million and 227,300 shares, respectively, at the end of the previous consolidated fiscal year, and ¥128.068 million and 142,900 shares, respectively, at the end of the first quarter of the current consolidated fiscal year.」
The guarantee obligation risk continues, but the shares held by the Employee Stock Ownership Trust and their carrying value have decreased. Borrowings recognized under the gross method remained unchanged at ¥210.120 million. - FY2020MitigatedAnnual report
「The Company will guarantee borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
The guarantee obligation risk continues, but shares held by the Employee Stock Ownership Trust and recognized borrowings decreased to 227,300 shares and ¥210.120 million, respectively. There is no statement that losses or performance under the guarantee resulted from a decline in the share price. - FY2020-Q3MitigatedAnnual report
「The Company will guarantee borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
The guarantee obligation risk itself continues, but shares held by the Employee Stock Ownership Trust decreased to 239,400. Borrowings recognized under the gross method were ¥301.500 million, down from the end of the previous fiscal year. There is no statement that losses or performance under the guarantee resulted from a decline in the share price. - FY2020-Q2MitigatedAnnual report
「The Company will guarantee borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
The guarantee obligation risk itself continues, but shares held by the Employee Stock Ownership Trust decreased to 329,700 and borrowings recognized under the gross method decreased to ¥301.500 million from 523,300 shares and ¥469.400 million at the end of the previous fiscal year. There is no statement that losses or performance under the guarantee resulted from a decline in the share price. - FY2020-Q1Decrease in shares held by the trust, borrowings unchangedAnnual report
「The Company will guarantee borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
The guarantee obligation risk continues. Shares held by the Employee Stock Ownership Trust decreased from 523,300 to 421,100, while borrowings recognized under the gross method remained unchanged from the end of the previous fiscal year at ¥469.400 million. - FY2019MitigatedAnnual report
「The carrying value of borrowings recognized under the gross method was ¥469.400 million in the current consolidated fiscal year.」
The guarantee obligation risk continues, but shares held by the trust decreased to 523,300 and borrowings decreased to ¥469.400 million from 536,300 shares and ¥636.030 million in the previous disclosure. - FY2019-Q3Decrease in shares held by the trust, borrowings unchangedAnnual report
「The Company will guarantee borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
The guarantee obligation risk continues. Shares held by the trust decreased from 706,800 to 536,300, while borrowings recognized under the gross method remained unchanged from the previous disclosure at ¥636.030 million. - FY2019-Q2MitigatedAnnual report
「The Company will guarantee borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
The guarantee obligation risk itself continues, but shares held by the trust totaled 706,800 and borrowings recognized under the gross method were ¥636.030 million, down from 778,800 shares and ¥700.000 million in the previous disclosure. - FY2019-Q1RestatedAnnual report
「The Company will guarantee borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
The Company continues to disclose guarantee obligation risk associated with the reintroduced E-Ship. Borrowings recognized under the gross method were ¥700.000 million, and shares held by the trust totaled 778,800. There is no statement that losses or performance under the guarantee resulted from a decline in the share price. - FY2018Guarantee risk recursAnnual report
「The Company will guarantee borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
With the introduction of a new E-Ship, the Company is again disclosing guarantee obligation risk related to borrowings by the Employee Stock Ownership Trust. - FY2018-Q3RestatedAnnual report
「During the current first-quarter consolidated cumulative period, no new business or other risks arose. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The Company states that there were no new occurrences or material changes in the business and other risks disclosed for the previous fiscal year, including the guarantee obligation risk related to the employee stock ownership trust. - FY2017RestatedAnnual report
「Because the trust terminated during the current consolidated fiscal year, no Company shares remained in the trust at the end of the current consolidated fiscal year.」
The absence of shares remaining at the end of the fiscal year following the trust’s termination has been confirmed, and the reduced guarantee obligation exposure related to the Employee Stock Ownership Trust has been maintained. - FY2018-Q1RestatedAnnual report
「Because the trust terminated during the first quarter of the current consolidated fiscal year, no Company shares remained in the trust at the end of the third quarter of the current consolidated fiscal year.」
The absence of shares held by the trust after its termination has been confirmed, and the reduced guarantee obligation exposure related to the Employee Stock Ownership Trust continues. - FY2017-Q4RestatedAnnual report
「Because the trust terminated during the first quarter of the current consolidated fiscal year, no Company shares remained in the trust at the end of the second quarter of the current consolidated fiscal year.」
The absence of shares held by the trust after its termination has been confirmed, and the guarantee obligation exposure related to the Employee Stock Ownership Trust if the share price declines remains reduced. - FY2017-Q3MitigatedAnnual report
「Because the trust terminated during the first quarter of the current consolidated fiscal year, no Company shares remained in the trust at the end of the first quarter of the current consolidated fiscal year.」
Following the termination of E-Ship, no shares remained in the trust at the fiscal year-end, and the guarantee obligation exposure related to the Employee Stock Ownership Trust if the share price declines was described as having been reduced. - FY2016RestatedAnnual report
「With respect to the acquisition and disposal of the Company’s shares, the Company continues to apply the accounting treatment previously adopted, under which the Company guarantees the obligations of the Employee Stock Ownership Trust and the Company and the trust are treated as a single entity.」
The Company continues to disclose the possibility that it may repay the Employee Stock Ownership Trust’s outstanding borrowings under the guarantee agreement if the share price declines. - FY2017-Q1First statedAnnual report
「The Company guarantees borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
Although the carrying value of borrowings recognized under the gross method at the end of the third quarter was reported as “—,” a contingent obligation to make repayments if the share price declines was disclosed.