Bank Meetings and Financing Through an Equity-Like Subordinated Loan
First written in FY2022-Q2. 1 of 4 entries say "Advanced", first in FY2022-Q3. Latest entry: FY2023-Q1.
1 other company's latest entry also says "Achieved".
- FY2023-Q1AchievedAnnual report
「For the new capital funding of ¥265 million through a private placement of Class A preferred shares, approval was obtained at the annual general meeting of shareholders held on 12 May 2022, as was the consent of all financial institutions to renew their agreement to maintain outstanding loan balances. The payment procedures were completed on 30 June 2022.」
Regarding the capital funding previously under consideration, a private placement of ¥265 million in Class A preferred shares was carried out and the payment procedures were completed on 30 June 2022. The funding plan changed from preparations to apply for a subordinated capital loan to funding through preferred shares, and execution has been completed. - FY2022ReframedAnnual report
「In light of the impairment of net assets on the consolidated balance sheet, we are proceeding with arrangements for new capital funding of ¥265 million through the issuance of preferred dividend shares, subject to obtaining consent at the bank meeting scheduled for the end of May 2022 to the repayment plan from financial institutions and the renewal of their consent to maintain outstanding loan balances, as well as approval of amendments to the Articles of Incorporation at the annual general meeting of shareholders.」
The funding method has become more specific and changed from preparations to apply for a subordinated capital loan to a private placement of ¥265 million in preferred dividend shares, subject to the consent of financial institutions and other conditions. - FY2022-Q3AdvancedAnnual report
「On 13 December 2021, we plan to explain our group's plans and other matters to each financial institution and obtain the consent of all financial institutions during January 2022, thereby restructuring our group's business and securing continued support to maintain the outstanding loan balance.」
The company has moved to the stage of explaining its plans and other matters to financial institutions and has set out a specific timetable aimed at obtaining the consent of all financial institutions during January 2022 and securing their support to maintain outstanding loan balances. The disclosure also states that consideration of new capital funding has begun. - FY2022-Q2First statedAnnual report
「To secure continued support from our lending financial institutions, we will hold a bank meeting at an early stage and provide an opportunity to explain our future earnings improvement measures and other matters to all lending financial institutions. We will ask them to maintain the current outstanding loan balance for a certain period and will also discuss securing a flexible funding facility. In addition, we are preparing to apply for a subordinated capital loan from a government-affiliated financial institution and will work to have the loan executed at an early date.」
As measures to address substantial doubt about the going concern assumption, the company has newly disclosed plans for a bank meeting with financial institutions, requests to maintain outstanding loan balances, discussions on funding facilities, and preparations to apply for a subordinated capital loan from a government-affiliated financial institution.