Financial covenants attached to the social loan
First written in FY2024-Q3. 2 of 3 entries say "Restated". Latest entry: FY2025-H1.
44 other companies' latest entry also says "Restated".
- FY2025-H1RestatedAnnual report
「On 16 January 2024, we entered into a syndicated loan agreement with financial institutions. The agreement includes the following financial covenants. ① Maintain total net assets reported on the consolidated balance sheet for each fiscal year at or above 75% of the total net assets reported on the consolidated balance sheet for the fiscal year ended March 2023. ② From the fiscal year ended March 2023 onward, not report ordinary losses for two consecutive fiscal years in respect of ordinary income or loss reported in the consolidated statements of income for each fiscal year.」
The company continues to disclose the maintenance of net assets at or above 75% of net assets at the reference fiscal year-end and the avoidance of ordinary losses for two consecutive fiscal years as financial covenants for the syndicated loan. - FY2024RestatedAnnual report
「① Maintain total net assets reported on the consolidated balance sheet for each fiscal year at or above 75% of the total net assets reported on the consolidated balance sheet for the fiscal year ended March 2023. ② From March 2023 onward, not report ordinary losses for two consecutive fiscal years in respect of ordinary income or loss reported in the consolidated statements of income for each fiscal year.」
The company continues to disclose the maintenance of net assets at or above 75% of net assets at the reference fiscal year-end and the avoidance of ordinary losses for two consecutive fiscal years as financial covenants for the syndicated loan. - FY2024-Q3First statedAnnual report
「The borrower covenants to maintain, at the end of each fiscal year, the amount of net assets in the equity section of its consolidated balance sheet at or above 75% of the amount of net assets in the equity section of its consolidated balance sheet at the end of the fiscal year ended March 2023. The borrower also covenants not to report an ordinary loss for two consecutive fiscal years in respect of ordinary income or loss in its consolidated statements of income for each fiscal year.」
The company disclosed financial covenants for the ¥5 billion term loan drawn in January 2024 requiring it to maintain net assets at or above 75% of the amount at the end of the fiscal year ended March 2023 and not to report ordinary losses for two consecutive fiscal years.