Borrowings and Financial Covenant Risk
First written in FY2024. 1 of 3 entries say "Restated". Latest entry: 2026-08-07.
Rigaku Holdings moved to the "Worse" side of this theme in 2026, 3 years after the typical company in this theme (2023).
The whole theme swung hardest in 2017: 8 of 54 companies on the "Worse" side.
22 other companies' latest entry also says "Worsened".
- 2026-08-07WorsenedEarnings
「Borrowings under current liabilities increased by ¥4,410 million owing to new borrowings for working capital and other purposes.」
Borrowings increased as a result of new borrowings for working capital and other purposes. The disclosure did not report any breach of financial covenants or change in compliance status. - FY2025RestatedAnnual report
「The Company’s borrowings are subject to financial covenants requiring the maintenance of certain levels of net assets, operating income and net income, among others, and the Company is complying with these covenants.」
Total borrowings were ¥55,556 million, or 62.8% of total equity. The Group continued to disclose its financial covenants and stated that it complies with them, while interest-rate swaps have fixed the interest rates on some borrowings. - FY2024First statedAnnual report
「The LBO loan agreement contains 2 financial covenants: the Group must not have consolidated ordinary income in the red for 2 consecutive fiscal years, and it must maintain consolidated net assets at 75% or more of the previous fiscal year’s actual level.」
Total borrowings were ¥55,388 million, equivalent to 67.7% of total equity. The Group is subject to covenants requiring it to avoid 2 consecutive years of consolidated ordinary losses and maintain net assets at 75% or more of the previous year’s level.