Financial Covenants Attached to the Syndicated Loan
First written in FY2023-Q2. 4 of 7 entries say "Restated". Latest entry: 2026-05-27.
44 other companies' latest entry also says "Restated".
- 2026-05-27RestatedGeneral Meetings of Shareholders
「Consolidated and non-consolidated EBITDA must not be negative for 2 consecutive fiscal years.」
The company continues to disclose an EBITDA-based financial covenant for the commitment line agreement dated 26 August 2024 and the syndicated loan agreement dated 24 June 2025. - FY2026-H1Financial covenants added to the new syndicated loan as wellAnnual report
「(4) Syndicated loan agreement (entered into on 24 June 2025) The drawn balance of borrowings at the end of the current interim consolidated accounting period was as follows. Drawn balance of syndicated loan: ¥10,000 million. ① To maintain net assets in the consolidated and standalone balance sheets at not less than 75% of the higher of the amount at the end of the immediately preceding fiscal year or the amount at the end of the fiscal year ended March 2025. ② Not to report negative EBITDA on a consolidated or standalone basis for 2 consecutive fiscal years.」
The company has disclosed financial covenants for the new ¥10 billion syndicated loan entered into on 24 June 2025, requiring net assets to be maintained at 75% or more and EBITDA not to be negative for 2 consecutive fiscal years. - FY2025-H1ReframedAnnual report
「(3) Syndicated commitment line agreement (entered into on 26 August 2024) There was no drawn balance of borrowings at the end of the current interim consolidated accounting period. The financial covenants attached to the agreement are as follows. ① To maintain net assets in the consolidated and standalone balance sheets at not less than 75% of the higher of the amount at the end of the immediately preceding fiscal year or the amount at the end of the fiscal year ended March 2024. ② Not to report negative EBITDA on a consolidated or standalone basis for 2 consecutive fiscal years.」
Under the renewed commitment line, the covenant has changed from the previous ordinary income or loss criterion to a requirement not to report negative EBITDA for 2 consecutive fiscal years, in addition to maintaining net assets at 75% or more. - FY2024-Q3RestatedAnnual report
「① To maintain net assets in the consolidated and standalone balance sheets at not less than 75% of the higher of the amount at the end of the immediately preceding fiscal year or the amount at the end of the fiscal year ended March 2022. ② Not to record a loss for 2 consecutive fiscal years in ordinary income or loss in the consolidated and standalone income statements.」
The company continues to disclose financial covenants attached to the syndicated loan, sustainability-linked loan and commitment line, requiring net assets to be maintained at 75% or more and losses in ordinary income or loss to be avoided for 2 consecutive fiscal years. - FY2024-Q2RestatedAnnual report
「① To maintain net assets in the consolidated and standalone balance sheets at not less than 75% of the higher of the amount at the end of the immediately preceding fiscal year or the amount at the end of the fiscal year ended March 2022. ② Not to record a loss for 2 consecutive fiscal years in ordinary income or loss in the consolidated and standalone income statements.」
The company continues to disclose financial covenants attached to the syndicated loan, sustainability-linked loan and commitment line, requiring net assets to be maintained at 75% or more and losses in ordinary income or loss to be avoided for 2 consecutive fiscal years. - FY2024-Q1RestatedAnnual report
「① To maintain net assets in the consolidated and standalone balance sheets at not less than 75% of the higher of the amount at the end of the immediately preceding fiscal year or the amount at the end of the fiscal year ended March 2022. ② Not to record a loss for 2 consecutive fiscal years in ordinary income or loss in the consolidated and standalone income statements.」
The company continues to disclose financial covenants attached to the syndicated loans and other facilities, requiring net assets to be maintained at 75% or more and losses in ordinary income or loss to be avoided for 2 consecutive fiscal years. - FY2023-Q2First statedAnnual report
「The financial covenants attached to the agreement are as follows. ① To maintain net assets in the consolidated and standalone balance sheets at not less than 75% of the higher of the amount at the end of the immediately preceding fiscal year or the amount at the end of the fiscal year ended March 2022. ② Not to record a loss for 2 consecutive fiscal years in ordinary income or loss in the consolidated and standalone income statements.」
The company has disclosed financial covenants for the existing syndicated loan, the newly entered sustainability-linked loan and the commitment line, including maintaining net assets at 75% or more of the reference amount and not recording losses in ordinary income or loss for 2 consecutive fiscal years.