Financial Covenants in Lending Commitment Agreement
First written in FY2017-Q1. 11 of 26 entries say "Mitigated", first in FY2017-Q2. Latest entry: FY2026.
39 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Total lending commitments ¥2,400 million Outstanding borrowings － Undrawn amount ¥2,400 million」
While total lending commitments remained at ¥2.4 billion, outstanding borrowings were zero at the end of the current consolidated fiscal year, leaving an undrawn amount of ¥2.4 billion. The financial covenants remain in effect. - FY2026-H1MitigatedAnnual report
「Total lending commitments ¥2,400 million ¥2,400 million Outstanding borrowings 2,400 500 Undrawn amount － 1,900」
While total lending commitments remained at ¥2.4 billion, outstanding borrowings decreased from ¥2.4 billion at the end of the previous fiscal year to ¥500 million, resulting in an undrawn amount of ¥1.9 billion. The financial covenants remain in effect. - FY2025WorsenedAnnual report
「Total lending commitments ¥5,000 million ¥2,400 million Outstanding borrowings 2,000 2,400 Undrawn amount 3,000 －」
Total lending commitments decreased from ¥5 billion to ¥2.4 billion, while outstanding borrowings reached ¥2.4 billion, eliminating the undrawn amount. The financial covenants also remain in effect. - FY2025-H1Smaller commitment facility, undrawn amount eliminatedAnnual report
「Total lending commitments ¥5,000 million ¥2,000 million Outstanding borrowings 2,000 2,000 Undrawn amount 3,000 －」
Total lending commitments decreased from ¥5 billion at the end of the previous consolidated fiscal year to ¥2 billion, while outstanding borrowings were ¥2 billion, eliminating the undrawn amount. The existing financial covenants remain in effect. - FY2024-Q1RestatedAnnual report
「Total lending commitments ¥5,000 million Outstanding borrowings 2,000,000 Undrawn amount 3,000,000 The ¥3,000 million commitment line agreement entered into by the Company on 17 May 2023 has no financial covenants. As the Company has secured sufficient cash on hand, its funding position is expected to remain stable for the foreseeable future.」
The Company reconfirmed that total lending commitments were ¥5 billion, outstanding borrowings were ¥2 billion and the undrawn amount was ¥3 billion. The existing agreement's financial covenants remain in effect, while the ¥3 billion agreement entered into on 17 May 2023 has no covenants; the Company states that it has sufficient cash on hand. - FY2023-Q3Reduction in commitment facility and increase in outstanding borrowingsAnnual report
「Total lending commitments ¥7,000 million ¥5,000 million Outstanding borrowings 500,000 2,000,000 Undrawn amount 6,500,000 3,000,000」
Total lending commitments decreased from ¥7 billion to ¥5 billion, while outstanding borrowings increased from ¥500 million to ¥2 billion. The disclosure also states that the existing agreement has financial covenants and that the ¥3 billion agreement has none. - FY2023-Q2MaterialisedAnnual report
「The Company will partially breach the above financial covenants at the end of the second quarter of the consolidated accounting period. However, the Company maintains close relationships with its lending banks and has obtained their consent to a waiver of the loss of benefit of time associated with this breach.」
The Company partially breached its financial covenants at the end of the second quarter due to recording an operating loss and an ordinary loss, but obtained a waiver of the loss of benefit of time from its lending banks. - FY2023-Q1Smaller commitment facility, higher outstanding borrowingsAnnual report
「Total lending commitments ¥7,000 million ¥5,000 million Outstanding borrowings 500,000 1,600,000 Undrawn amount 6,500,000 3,400,000」
Total lending commitments decreased from ¥7 billion to ¥5 billion, while outstanding borrowings increased from ¥500 million to ¥1.6 billion. The financial covenants under the existing agreement remain in effect, while the ¥3 billion agreement entered into on 25 May 2022 has no covenants. - FY2022-Q3Borrowings outstanding increased; no breach of the covenantsAnnual report
「Total lending commitments ¥7,000 million Outstanding borrowings 800,000 Undrawn amount 6,200,000」
Against total lending commitments of ¥7 billion, outstanding borrowings increased from ¥500 million in the previous quarter to ¥800 million. There was no breach of financial covenants at the end of the second quarter, and the new ¥5 billion commitment line has no covenants. - FY2022-Q2MitigatedAnnual report
「Total loan commitments 7,000,000 thousand yen 7,000,000 thousand yen Borrowings outstanding 2,000,000 500,000 Undrawn amount 5,000,000 6,500,000 The Company was not in breach of the financial covenants as of the end of the second quarter of the current consolidated fiscal year.」
Under total loan commitments of ¥7 billion, borrowings outstanding declined from ¥2 billion to ¥500 million, increasing undrawn commitments to ¥6.5 billion. There was no breach of the financial covenants at the end of the second quarter. - FY2021-Q3MitigatedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, the Company will be in partial breach of the above financial covenants. However, it maintains close relationships with its principal relationship banks and has obtained their consent to a waiver of acceleration arising from this breach. In addition, no financial covenants are attached to the ¥5 billion commitment line agreement entered into on 29 May 2020.」
The Company obtained a waiver of acceleration from its relationship banks in connection with the partial breach of the financial covenants. The new ¥5 billion commitment line is not subject to financial covenants. - FY2021-Q2MaterialisedAnnual report
「At the end of the second quarter of the current consolidated fiscal year, the Company will be in partial breach of the above financial covenants. However, it maintains close relationships with its principal relationship banks and is in final discussions regarding a waiver of acceleration arising from this breach.」
Although there had previously been no breach of the financial covenants, the Company was partially in breach at the end of the second quarter due to operating and ordinary losses, among other factors, and is discussing a waiver of acceleration with its financial institutions. - FY2021-Q1MitigatedAnnual report
「Total loan commitments 2,000,000 thousand yen 7,000,000 thousand yen Borrowings outstanding 1,300,000 2,000,000 Undrawn amount 700,000 5,000,000」
In addition to the existing loan commitments, a new ¥5 billion commitment line was established, bringing total loan commitments to ¥7 billion and undrawn commitments to ¥5 billion. - FY2020MitigatedAnnual report
「Total loan commitments 2,000,000 thousand yen Borrowings outstanding 1,300,000 Undrawn amount 700,000 thousand yen」
Under total loan commitments of ¥2 billion, borrowings outstanding declined from ¥2 billion at the end of the previous fiscal year to ¥1.3 billion, creating ¥700 million of undrawn capacity. There was also no breach of the financial covenants. - FY2020-Q3Borrowings outstanding fully drawn againAnnual report
「Total loan commitments 2,000,000 thousand yen 2,000,000 thousand yen Borrowings outstanding 2,000,000 2,000,000 Undrawn amount — —」
Under total loan commitments of ¥2 billion, borrowings outstanding were ¥2 billion both at the end of the previous consolidated fiscal year and at the end of the third quarter. The financial covenants remain in place. - FY2020-Q2MitigatedAnnual report
「Total loan commitments 2,000,000 thousand yen 2,000,000 thousand yen Borrowings outstanding 2,000,000 1,750,000 Undrawn amount — 250,000. The Company was not in breach of the financial covenants as of the end of the second quarter of the current consolidated fiscal year.」
Borrowings outstanding declined from ¥2 billion at the end of the previous consolidated fiscal year to ¥1.75 billion, with no breach of the financial covenants at the end of the second quarter. - FY2020-Q1Borrowings outstanding fully drawn againAnnual report
「Total loan commitments 2,000,000 thousand yen 2,000,000 thousand yen Borrowings outstanding 2,000,000 2,000,000 Undrawn amount - -」
Under total loan commitments of ¥2 billion, borrowings outstanding were ¥2 billion both at the end of the previous consolidated fiscal year and at the end of the first quarter, returning to full drawdown from ¥1.8 billion at the time of the previous report. The financial covenants remain in place. - FY2019-Q2MitigatedAnnual report
「Total loan commitments 2,000,000 thousand yen 2,000,000 thousand yen Borrowings outstanding 2,000,000 1,800,000 Undrawn amount — 200,000」
Under total loan commitments of ¥2 billion, borrowings outstanding declined from ¥2 billion at the end of the previous consolidated fiscal year to ¥1.8 billion, with no breach of the financial covenants at the end of the second quarter. - FY2018RestatedAnnual report
「Total loan commitments 2,000,000 thousand yen Borrowings outstanding 2,000,000 Undrawn amount —」
The full drawdown of the ¥2 billion loan commitment remained in place at fiscal year-end, while the Company stated that there was no breach of the financial covenants. - FY2018-Q3Borrowings outstanding fully drawnAnnual report
「Total loan commitments 2,000,000 thousand yen 2,000,000 thousand yen Borrowings outstanding 600,000 2,000,000 Undrawn amount 1,400,000 —」
Under total loan commitments of ¥2 billion, borrowings outstanding increased from ¥600 million at the end of the previous consolidated fiscal year to ¥2 billion and were fully drawn at the end of the third quarter. The financial covenant conditions remain in place. - FY2018-Q2Increase in drawn balanceAnnual report
「Total loan commitments 2,000,000 thousand yen 2,000,000 thousand yen Borrowings outstanding 600,000 950,000 Undrawn amount 1,400,000 1,050,000」
Under total loan commitments of ¥2 billion, borrowings outstanding increased from ¥600 million at the end of the previous consolidated fiscal year to ¥950 million. There was no breach of the financial covenants at the end of the second quarter. - FY2018-Q1MitigatedAnnual report
「Borrowings not drawn under this agreement as of the end of the first quarter of the current consolidated fiscal year were as follows.」
Borrowings outstanding declined from ¥600 million at the end of the previous consolidated fiscal year to ¥450 million, while the financial covenants themselves remain in place. - FY2017Borrowings outstanding increased againAnnual report
「As of the end of the consolidated fiscal year, we were not in breach of any financial covenants.」
Although there was no breach of the financial covenants, borrowings outstanding increased from zero at the end of the third quarter to ¥600 million at fiscal year-end. - FY2017-Q3MitigatedAnnual report
「Borrowings outstanding 1,000,000 —」
Total loan commitments of ¥2 billion remain in place, but borrowings outstanding were zero at the end of the third quarter. The financial covenant conditions themselves remain in place. - FY2017-Q2MitigatedAnnual report
「The Company was not in breach of the financial covenants as of the end of the second quarter of the current consolidated fiscal year.」
The absence of any breach of the financial covenants is explicitly stated, while borrowings outstanding declined from ¥1 billion at the end of the previous fiscal year to ¥750 million. - FY2017-Q1First statedAnnual report
「The loan commitment agreement is subject to the following financial covenants. If any covenant is breached, the borrower may be required to repay the borrowings in full at the lender's request: ① maintain net assets in the net assets section of the consolidated and non-consolidated balance sheets at each fiscal year-end and second-quarter-end at 80% or more of the total net assets at the end of the previous fiscal year; and ② not record a loss in either operating income or loss or ordinary income or loss in the consolidated and non-consolidated income statements at each fiscal year-end and second-quarter-end.」
Under the agreement, with total loan commitments of ¥2 billion and borrowings outstanding of ¥1 billion, the conditions are to maintain net assets at 80% or more and avoid operating and ordinary losses.