Guarantee obligations arising from a decline in the share price of shares acquired by the E-Ship employee stock ownership trust
First written in FY2017-Q2. 3 of 10 entries say "Reframed", first in FY2021-Q3. Latest entry: 2026-08-07.
1 other company's latest entry also says "Reframed".
- FY2026MitigatedAnnual report
「The employee shareholding trust ended on 27 March 2026.」
With the termination of E-Ship, the mechanism under which the company guaranteed the employee shareholding trust's remaining borrowings when the share price declined ended. - FY2021-Q3ReframedAnnual report
「The employee shareholding trust repaid its borrowings in full, and the company did not perform any guarantee obligations during the third quarter of the current fiscal year.」
Under the former E-Ship, the borrowings were repaid in full and no guarantee obligations arose. After the new plan was reintroduced in February 2021, a similar mechanism relating to guarantee obligations in the event of a share price decline was re-established. - FY2017RestatedAnnual report
「Because the company guarantees borrowings incurred by the employee shareholding trust to acquire the company's shares, a decline in the company's share price will cause losses on share sales to accumulate in the trust. If borrowings equivalent to those losses remain in the employee shareholding trust when the trust ends, the company will repay the remaining borrowings under the guarantee agreement.」
The company continues to disclose the risk of guarantee obligations if the share price declines under E-Ship. - FY2017-Q3RestatedAnnual report
「The Company will guarantee borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
The company continues to disclose the risk of guarantee obligations if the share price declines under E-Ship. - FY2017-Q2First statedAnnual report
「The Company will guarantee borrowings incurred by the Employee Stock Ownership Trust to acquire the Company’s shares. If a decline in the Company’s share price causes losses on the sale of shares to accumulate in the Employee Stock Ownership Trust and, at the termination of the trust, borrowings remain outstanding in the trust in an amount equivalent to those losses, the Company will repay the outstanding borrowings under the guarantee agreement.」
The company has disclosed that, under E-Ship, it may be required under the guarantee agreement to repay the trust's remaining borrowings arising from a decline in the share price.