Financial Covenants Attached to Long-Term Borrowings
First written in FY2023-Q3. 1 of 3 entries say "Restated". Latest entry: FY2025-H1.
15 other companies' latest entry also says "Advanced".
- FY2025-H1AdvancedAnnual report
「This agreement contains the following financial covenants. a. As of the end of the fiscal year ending March 2024 and each subsequent fiscal year, maintain total net assets shown in the unconsolidated and consolidated balance sheets at or above the higher of the amount equivalent to 75% of total net assets shown in the unconsolidated and consolidated balance sheets as of the end of the fiscal year ended March 2023, or the amount equivalent to 75% of total net assets shown in the unconsolidated and consolidated balance sheets as of the end of the most recent fiscal year. b. As of the end of the fiscal year ending March 2024 and each subsequent fiscal year, ordinary profit or loss shown in the unconsolidated and consolidated income statements must not be a loss for 2 consecutive fiscal years.」
The newly executed ¥6.5 billion syndicated loan was subject to financial covenants requiring the maintenance of net assets at 75% or more and avoidance of ordinary losses for 2 consecutive fiscal years. No covenant breach was reported. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter period, there were no occurrences of major risks that management recognizes as potentially having a material impact on the consolidated companies' financial condition, operating results, or cash flows, among matters related to the business and financial conditions described in the quarterly report, nor were there any material changes to the business and other risks described in the annual securities report for the preceding fiscal year.」
The company states that there were no material changes during the quarter to the financial covenants attached to the long-term borrowings. - FY2023-Q3First statedAnnual report
「In the consolidated balance sheet as of the end of each consolidated fiscal year, maintain total net assets at no less than 75% of the amount at the end of the previous consolidated fiscal year or the end of the fiscal year ending March 2022, whichever is higher. In the consolidated income statement as of the end of each consolidated fiscal year, do not record ordinary losses for 2 consecutive fiscal years.」
Two long-term borrowings of ¥2 billion each drawn from The Bank of Yokohama on 30 December 2022 were subject to financial covenants requiring the maintenance of net assets at 75% or more and avoidance of ordinary losses for 2 consecutive fiscal years. The filing does not state that any covenant breach occurred.