Financial Covenants Associated with Financing
First written in FY2024. 2 of 4 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2025: 23 of 75 companies on the "Worse" side.
32 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the interim accounting period, there were no significant changes in the occurrence of the major risks that management recognizes could materially affect the company’s financial position, financial performance, and cash flows, or in the matters described as “Business Risks” in the annual securities report for the previous fiscal year.」
The company stated that there were no material changes relating to the financial covenants associated with funding. - FY2025MitigatedAnnual report
「We are securing funds as appropriate through borrowings from financial institutions and other means, and therefore believe that even if an event resulting in the loss of the benefit of time occurs, the impact on management would be limited.」
The company indicated that it is securing funds as appropriate through borrowings and other means and believes that the impact on management would be limited even if a covenant breach resulted in the loss of the benefit of time. The covenants themselves remain in place. - FY2025-H1RestatedAnnual report
「During the interim accounting period, there were no significant changes in the occurrence of the major risks that management recognizes could materially affect the company’s financial position, financial performance, and cash flows, or in the matters described as “Business Risks” in the annual securities report for the previous fiscal year.」
The company expressly stated that there were no material changes to the major risks or to the “Business and Other Risks” described in the previous fiscal year’s securities report. - FY2024First statedAnnual report
「① From March 2023 onward, net assets, including capital-type loans, must not fall below ¥0 million at the end of each month. ② Deposits, excluding pledged deposits, must not fall below ¥70 million at the end of each month. ③ Ordinary profit for each fiscal year from the fiscal year ending December 2025 onward must be at least ¥0 million.」
The borrowing agreements contain financial covenants concerning net assets, deposit balances and ordinary profit from the fiscal year ending December 2025 onward. Breach could result in the loss of the benefit of time.