Cost Reduction and Securing Financial Support Amid the Spread of COVID-19
First written in FY2020. 7 of 15 entries say "Restated". Latest entry: FY2024-Q3.
3 other companies' latest entry also says "Advanced".
- FY2024-Q3AdvancedAnnual report
「On 31 October 2023, the Company entered into a syndicated loan agreement and drew down the loan, with the aim of extending the repayment deadlines for borrowings from financial institutions and stabilizing its financial base.」
As part of its cash-flow measures with financial institutions, the Company drew down a ¥586 million syndicated loan on 31 October 2023 with a 3-year term. The process advanced from discussions on refinancing to the actual drawdown of the loan. - FY2024-Q2RestatedAnnual report
「In parallel, we will work to maintain and strengthen close, sound relationships with financial institutions and hold discussions aimed at extending repayment deadlines.」
The Company continues discussions aimed at maintaining and strengthening its relationships with financial institutions and extending repayment deadlines as part of its cash-flow measures. - FY2024-Q1RestatedAnnual report
「In parallel, we will work to maintain and strengthen close, sound relationships with financial institutions and hold discussions aimed at extending repayment deadlines.」
The Company continues discussions aimed at maintaining and strengthening its relationships with financial institutions and extending repayment deadlines as part of its cash-flow measures. - FY2023Resolved to refinance ¥776 millionAnnual report
「At a meeting of the Board of Directors held on 23 May 2023, the Company resolved to refinance with each financial institution a portion of its short-term borrowings due at the end of May 2023 and its long-term borrowings due for repayment within 1 year, with the aim of strengthening its financial base by securing funds on hand. Total borrowings (planned): ¥776.321 million.」
To normalize its transactions with financial institutions and address cash flow, the Company resolved to refinance a total of ¥776.321 million, scheduled to be executed at the end of May 2023. - FY2023-Q3RestatedAnnual report
「First, regarding capital strengthening, the Company is considering measures including a third-party allotment, in addition to recording earnings for the period, to eliminate negative net worth. In addition, by using various subsidies and obtaining deferrals of principal repayments on a portion of its short-term borrowings and long-term borrowings due for repayment within 1 year, the Company is maintaining cash and cash equivalents on hand at a level that raises no concern about cash flow for the foreseeable future. As it has maintained close relationships with financial institutions, particularly its main bank, the Company believes that ongoing support will continue to be available.」
Capital strengthening measures, including a third-party allotment, remain under consideration, while the Company continues its cash-flow measures through the use of subsidies, principal repayment deferrals and support from financial institutions. - FY2023-Q2RestatedAnnual report
「First, regarding capital strengthening, the Company is considering measures including a third-party allotment, in addition to recording earnings for the period, to eliminate negative net worth. In addition, by using various subsidies and obtaining deferrals of principal repayments on a portion of its short-term borrowings and long-term borrowings due for repayment within 1 year, the Company is maintaining cash and cash equivalents on hand at a level that raises no concern about cash flow for the foreseeable future. As it has maintained close relationships with financial institutions, particularly its main bank, the Company believes that ongoing support will continue to be available.」
Capital strengthening measures, including a third-party allotment, remain under consideration, while the Company continues its cash-flow measures through the use of subsidies, repayment deferrals and support from financial institutions. - FY2023-Q1RestatedAnnual report
「First, regarding capital strengthening, the Company is considering measures including a third-party allotment, in addition to recording earnings for the period, to eliminate negative net worth. In addition, by using various subsidies and obtaining deferrals of principal repayments on a portion of its short-term borrowings and long-term borrowings due for repayment within 1 year, the Company is maintaining cash and cash equivalents on hand at a level that raises no concern about cash flow for the foreseeable future.」
Capital strengthening measures, including a third-party allotment, remain under consideration, while the Company continues its policy of maintaining cash and cash equivalents on hand through the use of subsidies and repayment deferrals, with support from financial institutions. - FY2022AdvancedAnnual report
「The Company is refinancing with each financial institution a portion of its short-term borrowings due at the end of April 2022 and its long-term borrowings due for repayment within 1 year, with the aim of strengthening its financial base by securing funds on hand.」
The Company disclosed as a subsequent event the refinancing of amounts due for repayment at the end of April 2022, involving total borrowings of ¥1,147.291 million and cash-flow measures for borrowings due at the end of October 2022. - FY2022-Q3AdvancedAnnual report
「The Company refinanced a portion of its short-term borrowings due at the end of October 2021 and its long-term borrowings due for repayment within 1 year, totaling ¥1,133 million. As our group has maintained close relationships with financial institutions, particularly our main bank, we believe that ongoing support will continue to be available. As a result, we have secured cash and cash equivalents on hand at a level that raises no concern about cash flow for the foreseeable future.」
The Company states that it refinanced a total of ¥1,133 million of borrowings approaching maturity and secured cash and cash equivalents at a level that raises no concern about cash flow for the foreseeable future. - FY2022-Q1RestatedAnnual report
「At a meeting of the Company's Board of Directors held on 19 April 2021, the Company resolved to issue new shares through a third-party allotment, and payment of ¥599 million was completed on 7 May 2021. As a result, the Company secured cash and cash equivalents on hand at a level that raised no concern about cash flow for the foreseeable future.」
The Company continues to explain its cash-flow measures, including completion of payment for the third-party allotment and securing cash and cash equivalents on hand. - FY2021AdvancedAnnual report
「In March 2021, the Company raised new funds by obtaining long-term borrowings totaling ¥1,400 million from 3 financial institutions, including new lenders, and refinanced a portion of its short-term borrowings due at the end of April 2021 and its long-term borrowings due for repayment within 1 year, totaling ¥1,142 million. In addition, at a meeting of the Company's Board of Directors held on 19 April 2021, the Company resolved to issue new shares through a third-party allotment, and payment of ¥599 million was completed on 7 May 2021.」
In addition to the existing cost reductions and repayment deferrals, the Company arranged ¥1,400 million in long-term borrowings, refinanced ¥1,142 million, and completed a ¥599 million third-party allotment, securing cash on hand for the foreseeable future. - FY2021-Q3RestatedAnnual report
「In May 2020, the Company entered into borrowing agreements totaling ¥403 million, including with its main bank, and in June also borrowed an amount corresponding to principal repayments. In addition, it is continuing to consider measures including capital strengthening to improve cash flow and eliminate negative net worth.」
The Company continues to consider borrowing agreements, borrowings corresponding to principal repayments, cost reductions, capital strengthening and other measures, but states that capital strengthening measures remain under consideration. - FY2021-Q2AdvancedAnnual report
「In May 2020, the Company entered into borrowing agreements totaling ¥403 million, including with its main bank, and in June also borrowed an amount corresponding to principal repayments. In addition, it is continuing to consider measures including capital strengthening to improve cash flow and eliminate negative net worth.」
In addition to the ¥403 million of borrowing agreements entered into in May, the Company also borrowed an amount corresponding to principal repayments in June. Consideration of capital strengthening and other measures is continuing. - FY2021-Q1Added consideration of capital strengthening measuresAnnual report
「To address this situation, the Company will implement measures including requesting payment deferrals from business partners, reducing executive compensation and salaries, using employment adjustment subsidies, requesting reductions in rent and other payments, using the tax and social insurance payment deferral program under emergency economic measures, and making other cost reductions. We have also requested that our lending financial institutions defer principal repayments and obtained their consent. Based on this consent, we have entered into amended agreements for individual bilateral borrowing arrangements. As the Company has maintained close relationships with financial institutions, particularly its main bank, it believes that ongoing support will be available. In May 2020, the Company entered into borrowing agreements totaling ¥403.3 million, including with its main bank, and from June of the same year onward requested additional support based on its cash-flow situation, obtaining consent from its main bank and other institutions. In addition, the Company will consider measures including capital strengthening to improve cash flow and eliminate negative net worth.」
In addition to the existing payment deferrals, cost reductions and support from financial institutions, the Company expressly stated its policy of considering capital strengthening and other measures to eliminate negative net worth. However, it stated that the measures remain under consideration. - FY2020First statedAnnual report
「To address this situation, our group will implement measures including requesting payment deferrals from business partners, reducing executive compensation and salaries, using employment adjustment subsidies, requesting reductions in rent and other payments, using the tax and social insurance payment deferral program under emergency economic measures, and making other cost reductions. We have also requested that our lending financial institutions defer principal repayments and obtained their consent. Based on this consent, we have entered into amended agreements for individual bilateral borrowing arrangements. As our group has maintained close relationships with financial institutions, particularly our main bank, we believe that ongoing support will be available. In May 2020, we entered into borrowing agreements totaling ¥403 million, including with our main bank, and at the same time requested additional support from June onward based on our cash-flow situation, obtaining consent from our main bank and other institutions.」
We implemented crisis-response measures including payment deferrals, reductions in compensation and salaries, subsidies, requests for rent reductions, tax and social insurance payment deferrals, repayment deferrals and amended agreements, and entered into borrowing agreements totaling ¥403 million in May 2020.