Risk of Lump-Sum Repayment of Borrowings by 北海道糖業 Due to Breach of Financial Covenants
First written in FY2017. 1 of 2 entries say "Dropped", first in FY2024. Latest entry: FY2024.
The whole theme swung hardest in 2017: 8 of 55 companies on the "Worse" side.
8 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual reportNo disclosure concerning the risk of a breach of 北海道糖業's financial covenants was identified in the current year's business and other risks or financial notes.
- FY2017First statedAnnual report
「Some borrowings held by the consolidated subsidiary 北海道糖業㈱ are subject to financial covenants. If even one of the following covenants is breached, the borrowings become repayable in full to the relevant lender upon notification from that lender: (1) net assets at the end of the fiscal year fall below 75% of net assets at the end of the previous fiscal year or the base fiscal year; (2) an ordinary loss is recorded for 2 consecutive fiscal years; or (3) the total amount of interest-bearing debt at the end of the fiscal year, including short-term borrowings, current portion of long-term borrowings, long-term borrowings and bonds, exceeds 1.5 times net assets.」
The company identifies financial risks relating to 北海道糖業's borrowings, with breach conditions including net assets below 75%, ordinary losses for 2 consecutive fiscal years, and interest-bearing debt exceeding 1.5 times net assets.