Financial Covenants Attached to Borrowings and Payment Acceptances
First written in FY2016. 4 of 6 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2017: 8 of 64 companies on the "Worse" side.
54 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「The Group recognizes the likelihood of this risk occurring as low and its potential impact as high.」
The financial covenants and risk of lump-sum repayment if they are breached remain, with the likelihood assessed as low and the potential impact as high. - FY2024RestatedAnnual report
「Certain borrowings of the Group are subject to financial covenants. If the Group breaches any of the provisions, it will lose the benefit of time and will be required to repay the relevant borrowings in full to the applicable lenders.」
The disclosure continues to describe financial covenants concerning the maintenance of net assets and other matters, as well as the effects on lump-sum repayment and liquidity if they are breached. - FY2021RestatedAnnual report
「Certain borrowings of the Group are subject to financial covenants. If the Group breaches any of the provisions, it will lose the benefit of time and will be required to repay the relevant borrowings in full to the applicable lenders.」
The disclosure continues to describe financial covenants concerning the maintenance of net assets and other matters, as well as the effects on lump-sum repayment and liquidity if they are breached. - FY2019RestatedAnnual report
「Certain borrowings and acceptances and guarantees of the Group are subject to financial covenants. If the Group breaches any of the covenants, it will lose the benefit of time, requiring it to repay the relevant borrowings in full to the applicable lenders or preventing it from being required to honor the acceptances and guarantees.」
The disclosure reiterates the financial covenant requiring net assets to be maintained above a certain level and the effects on lump-sum repayment and liquidity if it is breached. - FY2017RestatedAnnual report
「Certain borrowings and acceptances and guarantees of the Group are subject to financial covenants. If the Group breaches any of the covenants, it will lose the benefit of time, requiring it to repay the relevant borrowings in full to the applicable lenders or preventing it from being required to honor the acceptances and guarantees.」
The disclosure reiterates the existence of financial covenants concerning the maintenance of net assets, ordinary profit or loss and net interest-bearing debt, among other matters, and the liquidity risk if they are breached. - FY2016First statedAnnual report
「Certain borrowings and acceptances and guarantees of the Group are subject to financial covenants. If the Group breaches any of the provisions under “5. Accounting Information, 1. Consolidated Financial Statements, (1) Consolidated Financial Statements, Notes to the Consolidated Financial Statements, Notes to the Consolidated Balance Sheet, *4. Financial Covenants,” it will lose the benefit of time, requiring it to repay the relevant borrowings in full to the applicable lenders or preventing it from being required to honor the acceptances and guarantees.」
Multiple covenants concern the maintenance of net assets, ordinary profit or loss and net interest-bearing debt, among other matters.