Loss of the benefit of time due to an excess interest-bearing debt multiple
First written in FY2019-Q2. 20 of 23 entries say "Mitigated", first in FY2020-Q1. Latest entry: FY2026-H1.
The whole theme swung hardest in 2017: 8 of 54 companies on the "Worse" side.
53 other companies' latest entry also says "Mitigated".
- FY2026-H1MitigatedAnnual report
「Current portion of long-term borrowings 25,000 thousand yen — thousand yen Long-term borrowings — — Total 25,000 —」
For the agreement under which the Company may lose the benefit of time if the interest-bearing debt multiple exceeds 15x, borrowings subject to the provision decreased from 25,000 thousand yen to zero. - FY2025MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 25,000 thousand yen Long-term borrowings 25,000 — Total 100,000 25,000」
Borrowings subject to the provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x decreased from 100,000 thousand yen to 25,000 thousand yen. - FY2025-H1MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 62,500 thousand yen Long-term borrowings 25,000 — Total 100,000 62,500」
Borrowings subject to the agreement under which the Company may lose the benefit of time if the interest-bearing debt multiple exceeds 15x decreased from 100,000 thousand yen to 62,500 thousand yen. - FY2024-Q3MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 100,000 43,750 Total 175,000 118,750」
For the agreement under which the Company may lose the benefit of time if the interest-bearing debt multiple exceeds 15x, borrowings subject to the provision decreased from 175,000 thousand yen at the end of the previous consolidated fiscal year to 118,750 thousand yen. - FY2024-Q2MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 100,000 62,500 Total 175,000 137,500」
For the agreement under which the Company may lose the benefit of time if the interest-bearing debt multiple exceeds 15x, borrowings subject to the provision decreased from 175,000 thousand yen to 137,500 thousand yen. - FY2024-Q1MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 100,000 81,250 Total 175,000 156,250」
For the agreement under which the Company may lose the benefit of time if the interest-bearing debt multiple exceeds 15x, borrowings subject to the provision decreased from 175,000 thousand yen at the end of the previous consolidated fiscal year to 156,250 thousand yen. - FY2023-Q3MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen, long-term borrowings 118,750, total 193,750」
Borrowings subject to the provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x decreased from 250,000 thousand yen at FY2022-end to 193,750 thousand yen. - FY2023-Q2MitigatedAnnual report
「The outstanding borrowings under this agreement were as follows. Second quarter of the current consolidated fiscal year (31 January 2023) Current portion of long-term borrowings 75,000 thousand yen Long-term borrowings 137,500 Total 212,500」
Borrowings subject to the provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x decreased from 250,000 thousand yen at FY2022-end to 212,500 thousand yen. - FY2023-Q1MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen Long-term borrowings 156,250 Total 231,250」
Borrowings subject to the provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x decreased from 250,000 thousand yen at FY2022-end to 231,250 thousand yen. - FY2022MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 250,000 175,000 Total 325,000 250,000」
Borrowings subject to the provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x decreased from 325,000 thousand yen at the end of the previous period to 250,000 thousand yen. - FY2022-Q3MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 250,000 193,750 Total 325,000 268,750」
The provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x remains in effect, while the borrowings subject to it decreased from 325,000 thousand yen at the end of the previous fiscal year to 268,750 thousand yen. - FY2022-Q2MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 250,000 212,500 Total 325,000 287,500」
The provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x remains in effect, while the borrowings subject to it decreased from 325,000 thousand yen to 287,500 thousand yen. - FY2022-Q1MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 250,000 231,250 Total 325,000 306,250」
Borrowings subject to the provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x decreased from 325,000 thousand yen at the end of the previous fiscal year to 306,250 thousand yen. - FY2021-Q3MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 325,000 268,750 Total 400,000 343,750」
Borrowings subject to the provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x decreased from 400,000 thousand yen at the end of the previous fiscal year to 343,750 thousand yen. - FY2021-Q2MitigatedAnnual report
「Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 325,000 287,500 Total 400,000 362,500」
The provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x remains in effect, while the borrowings subject to it decreased from 400,000 thousand yen to 362,500 thousand yen. - FY2021-Q1MitigatedAnnual report
「Previous fiscal year (31 July 2020) First quarter of the current fiscal year (31 October 2020) Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 325,000 306,250 Total 400,000 381,250」
The provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x remains in effect, while the borrowings subject to it decreased from 400,000 thousand yen to 381,250 thousand yen. - FY2020MitigatedAnnual report
「The outstanding borrowings under this agreement were as follows. Current portion of long-term borrowings 75,000 thousand yen Long-term borrowings 325,000 Total 400,000」
The provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x remains in effect, while the borrowings subject to it decreased from 475,000 thousand yen to 400,000 thousand yen. - FY2020-Q3MitigatedAnnual report
「The outstanding borrowings under this agreement were as follows. Previous fiscal year (31 July 2019) Third quarter of the current fiscal year (30 April 2020) Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 400,000 343,750 Total 475,000 418,750」
The provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x remains in effect, while the borrowings subject to it decreased from 475,000 thousand yen to 418,750 thousand yen. - FY2020-Q2MitigatedAnnual report
「The outstanding borrowings under this agreement were as follows. Previous fiscal year (31 July 2019) Second quarter of the current fiscal year (31 January 2020) Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 400,000 362,500 Total 475,000 437,500」
The provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x remains in effect, while the borrowings subject to it decreased from 475,000 thousand yen to 437,500 thousand yen. - FY2020-Q1MitigatedAnnual report
「The outstanding borrowings under this agreement were as follows. Previous fiscal year (31 July 2019) First quarter of the current fiscal year (31 October 2019) Current portion of long-term borrowings 75,000 thousand yen 75,000 thousand yen Long-term borrowings 400,000 381,250 Total 475,000 456,250」
The provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x remains in effect, while the borrowings subject to it decreased from 475,000 thousand yen to 456,250 thousand yen. - FY2019RestatedAnnual report
「If, as of the fiscal year-end, the interest-bearing debt multiple, calculated as “interest-bearing debt / {profit after tax + depreciation − (capital expenditures − investments related to new store openings (including renovation investments equivalent to store openings))},” exceeds 15x, the Company may lose the benefit of time.」
The provision concerning loss of the benefit of time if the interest-bearing debt multiple exceeds 15x continues to be disclosed, and the borrowings subject to it amounted to 475,000 thousand yen. - FY2019-Q3WorsenedAnnual report
「The outstanding borrowings under this agreement were as follows. Previous fiscal year (31 July 2018) Third quarter of the current fiscal year (30 April 2019) Current portion of long-term borrowings — thousand yen 75,000 thousand yen Long-term borrowings — 418,750 Total — 493,750」
The Company disclosed borrowings of 493,750 thousand yen subject to the provision under which the benefit of time may be lost if the interest-bearing debt multiple exceeds 15x. - FY2019-Q2First statedAnnual report
「The loan agreements entered into by the Company contain financial covenants. If, as of the fiscal year-end, the interest-bearing debt multiple, calculated as “interest-bearing debt / {profit after tax + depreciation − (capital expenditures − investments related to new store openings (including renovation investments equivalent to store openings))},” exceeds 15x, the Company may lose the benefit of time.」
The Company has disclosed for the first time specific details of the provision in its loan agreements under which it may lose the benefit of time if the interest-bearing debt multiple exceeds 15x.