Financial Covenants in a Term Loan Agreement with a Drawdown Period
First written in FY2021-Q2. 3 of 8 entries say "Restated". Latest entry: FY2026-H1.
44 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The Company states that there have been no material changes to the financial covenants of the term loan agreement with a drawdown period. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The Company states that there have been no material changes to the financial covenants of the term loan agreement with a drawdown period. - FY2024MitigatedAnnual report
「Total term loan with a drawdown period ¥800 million － Outstanding drawn amount ¥800 million －」
The outstanding drawn amount under the term loan with a drawdown period and financial covenants, which was ¥800 million at the end of the previous fiscal year, fell to zero at the end of the current fiscal year. - FY2023-Q3RestatedAnnual report
「The term loan agreement with a drawdown period entered into by the Company contains financial covenants. If any of the following conditions is breached, the Company may lose the benefit of time with respect to its obligations.」
The Company continues to disclose the term loan agreement requiring equity of at least 75% and ordinary income of at least zero yen to be maintained, together with its financial covenants. Outstanding borrowings are ¥800 million. - FY2022-Q2WorsenedAnnual report
「Current portion of long-term borrowings － － Long-term borrowings 300,000 800,000 Total 300,000 800,000」
Borrowings under the term loan subject to financial covenants requiring equity of at least 75% and ordinary income of at least zero yen increased from ¥300 million to ¥800 million. - FY2021AdvancedAnnual report
「The outstanding borrowings under this agreement are as follows. Previous fiscal year (31 July 2020) Current fiscal year (31 July 2021) Current portion of long-term borrowings ¥000s ¥000s Long-term borrowings － 300,000 Total － 300,000」
Borrowings under the term loan agreement with a drawdown period increased from zero to ¥300 million. The financial covenants requiring equity of at least 75% and ordinary income of at least zero yen remain in place. - FY2021-Q3AdvancedAnnual report
「Outstanding borrowings under this agreement were as follows. Previous fiscal year (31 July 2020) Third quarter of the current fiscal year (30 April 2021) Current portion of long-term borrowings — thousand yen — thousand yen Long-term borrowings — ¥100 million Total — ¥100 million」
Under the executable-period term loan agreement, there were no outstanding borrowings at the end of the previous fiscal year, while ¥100 million in long-term borrowings had been drawn down by the end of the third quarter of the current fiscal year. The financial covenants requiring net assets of 75% or more and ordinary income or loss of ¥0 or more remain in effect. - FY2021-Q2First statedAnnual report
「The executable-period term loan agreement entered into by the Company contains financial covenants, and a breach of any of the following may result in the loss of the benefit of time for repayment. ① As of the end of each fiscal year beginning with the fiscal year ending July 2021, maintain the total amount of the borrower's net assets in its standalone balance sheet at not less than 75% of the higher of the total net assets at the end of the fiscal year ending July 2020 and at the end of the immediately preceding fiscal year. ② As of the end of each fiscal year beginning with the fiscal year ending July 2021, maintain the borrower's ordinary income or loss in its standalone income statement at ¥0 or more.」
For the newly established executable-period term loan agreement, the Company discloses financial covenants requiring, beginning with the fiscal year ending July 2021, net assets to be maintained at 75% or more of the benchmark amount and ordinary income or loss at ¥0 or more. No breach is disclosed.