Financial Covenants Relating to Net Assets and Ordinary Profit or Loss
First written in FY2016-Q2. 18 of 29 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2025: 23 of 75 companies on the "Worse" side.
17 other companies' latest entry also says "Other".
- FY2026-H1Disclosure of a new borrowing agreement with financial covenantsAnnual report
「On 26 March 2026, the Company entered into a monetary loan agreement with financial covenants (the “Agreement”). ③ Borrowing amount: ¥20 billion ④ Repayment date: 31 March 2031」
On 26 March 2026, the Company entered into an agreement with 7 financial institutions, arranged by MUFG Bank, Ltd., for borrowings of ¥20 billion with a repayment date of 31 March 2031. The financial covenants require net assets to be maintained at 75% or more and prohibit losses in ordinary profit or loss for 2 consecutive fiscal periods. - 2026-04-06AdvancedEarnings
「On 26 March 2026, we entered into a monetary loan agreement containing financial covenants, hereinafter referred to as the "Agreement."」
Disclosed financial covenants for a ¥20 billion borrowing agreement maturing on 31 March 2031, requiring net assets to be maintained at 75% or more and the avoidance of ordinary losses for 2 consecutive fiscal years. - FY2024-Q2RestatedAnnual report
「A consolidated subsidiary of the Company has entered into a term loan agreement, a term loan agreement with a drawdown availability period, and a facility agreement arranged by MUFG Bank, Ltd. to efficiently procure working capital. These agreements are subject to the following financial covenants.」
The Company continues to disclose financial covenants for multiple borrowing agreements of its consolidated subsidiary, requiring net assets to be maintained at 75% or more, losses in ordinary profit or loss to be avoided for 2 consecutive fiscal periods, and the interest rate to be increased in the event of a breach. The borrowing balance subject to the covenants was also disclosed for each agreement. - FY2024-Q1Financial covenants disclosed againAnnual report
「A consolidated subsidiary of the Company has entered into a term loan agreement, a term loan agreement with a drawdown availability period, and a facility agreement arranged by MUFG Bank, Ltd. to efficiently procure working capital. These agreements are subject to the following financial covenants.」
The financial covenants, which were stated as having no applicable matters once in fiscal 2022, were disclosed again for multiple agreements of the consolidated subsidiary. The disclosure covers maintaining net assets at 75% or more, avoiding losses in ordinary profit or loss for 2 consecutive fiscal periods, and increasing the interest rate in the event of a breach. - FY2022DroppedAnnual report
「Current consolidated fiscal year (30 November 2022) No applicable matters.」
The current fiscal year states that there were no applicable matters relating to the financial covenants of the term loan agreement disclosed through the previous fiscal year. - FY2022-Q3MitigatedAnnual report
「As of the end of the third quarter of the current consolidated fiscal year, the balance of borrowings under the term loan agreement was ¥112 million in long-term borrowings due for repayment within 1 year.」
Although the financial covenants remain unchanged, the balance of borrowings under the relevant term loan decreased from ¥450 million at the end of the previous fiscal year to ¥112 million. - FY2022-Q2MitigatedAnnual report
「As of the end of the second quarter of the current consolidated fiscal year, the balance of borrowings under the term loan agreement was ¥225 million in long-term borrowings due for repayment within 1 year.」
Although the financial covenants remain unchanged, the balance of borrowings under the relevant term loan decreased from ¥450 million at the end of the previous fiscal year to ¥225 million. - FY2022-Q1RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The term loan agreement arranged by MUFG Bank, Ltd. continues to include covenants requiring net assets to be maintained at 75% or more, losses in ordinary profit or loss to be avoided for 2 consecutive fiscal periods, and the interest rate to be increased in the event of a breach. - FY2021Some agreements subject to the covenants reorganizedAnnual report
「For the current consolidated fiscal year (30 November 2021), the following financial covenants apply to the term loan agreement arranged by MUFG Bank, Ltd.」
Compared with the 2 agreements with The Bank of Nagoya,Ltd. and MUFG Bank, Ltd. disclosed in the previous fiscal year, the current year's disclosure covers the term loan agreement arranged by MUFG Bank, Ltd. The requirements to maintain net assets at 75% or more, avoid losses in ordinary profit or loss for 2 consecutive fiscal periods, and increase the interest rate in the event of a breach continue. - FY2021-Q3RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The covenants requiring net assets to be maintained at no less than 75% of the reference amount and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach, continue to apply. - FY2021-Q2RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The disclosure continues to cover the requirements to maintain standalone and consolidated net assets at 75% or more of the reference amount or other applicable amount, avoid losses in ordinary profit or loss for 2 consecutive fiscal periods, and increase the interest rate in the event of a breach. - FY2021-Q1RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The covenants requiring net assets to be maintained at no less than 75% of the reference amount and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach, continue to apply. - FY2020Reorganized into a composition excluding commitment line agreementsAnnual report
「For the current consolidated fiscal year (30 November 2020), the following financial covenants apply to (1) the term loan agreement arranged by The Bank of Nagoya,Ltd. and (2) the term loan agreement arranged by MUFG Bank, Ltd.」
The current year's disclosure has been organized around the term loan agreements with The Bank of Nagoya,Ltd. and MUFG Bank, Ltd., compared with the previous year's disclosure, which included a commitment line agreement. The requirements to maintain net assets at 75% or more, avoid losses in ordinary profit or loss for 2 consecutive fiscal periods, and increase the interest rate in the event of a breach continue. - FY2020-Q3RestatedAnnual report
「For the third quarter of the current consolidated fiscal year (31 August 2020), the following financial covenants apply to (1) the term loan agreement arranged by The Bank of Nagoya,Ltd. and (2) the term loan agreement arranged by MUFG Bank, Ltd.」
The term loan agreements with The Bank of Nagoya,Ltd. and MUFG Bank, Ltd. continue to be subject to financial covenants requiring net assets to be maintained at 75% or more, losses in ordinary profit or loss to be avoided for 2 consecutive fiscal periods, and the interest rate to be increased in the event of a breach. - FY2020-Q2Agreements subject to financial covenants reorganizedAnnual report
「For the second quarter of the current consolidated fiscal year (31 May 2020), the following financial covenants apply to (1) the term loan agreement arranged by The Bank of Nagoya,Ltd. and (2) the term loan agreement arranged by MUFG Bank, Ltd.」
At the end of the current quarter, the disclosure covers the covenants relating to the term loan agreements with The Bank of Nagoya,Ltd. and MUFG Bank, Ltd., rather than the previous composition, which included a commitment line agreement. The requirements to maintain net assets at 75% or more, avoid losses in ordinary profit or loss for 2 consecutive fiscal periods, and increase the interest rate in the event of a breach continue. - FY2020-Q1Change in the composition of agreements subject to financial covenantsAnnual report
「If any of these financial covenants is breached, the interest rate will be increased.」
The notes for the end of the quarter state that the term loan agreement is subject to financial covenants requiring net assets to be maintained at no less than 75% of the reference amount and ordinary profit or loss not to be negative for 2 consecutive fiscal periods. - FY2019RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The disclosure continues to cover covenants requiring net assets to be maintained at no less than 75% of the reference amount and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach. - FY2019-Q1RestatedAnnual report
「If any of these financial covenants is breached, the interest rate will be increased.」
The covenants requiring net assets to be maintained at no less than 75% of the reference amount and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach, continue to apply. - FY2018RestatedAnnual report
「Because the terms provide for an increase in the interest rate on existing borrowings if any financial covenant is breached, specifically an annual increase of 0.5% from the current spread, a breach of the financial covenants could affect the operating results and financial position of the Group.」
The disclosure continues to cover financial covenants relating to maintaining net assets and ordinary profit or loss, and a condition providing for an annual interest rate increase of 0.5% in the event of a breach. - FY2018-Q3RestatedAnnual report
「If any of these financial covenants is breached, the interest rate will be increased.」
The covenants requiring net assets to be maintained at no less than 75% of the reference amount and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach, continue to apply. - FY2018-Q2RestatedAnnual report
「If any of these financial covenants is breached, the interest rate will be increased.」
The covenants requiring net assets to be maintained at no less than 75% of the reference amount and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach, continue to apply. - FY2018-Q1RestatedAnnual report
「If any of these financial covenants is breached, the interest rate will be increased.」
The covenants requiring net assets to be maintained at no less than 75% of the reference amount and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach, continue to apply. - FY2017RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The covenants requiring net assets to be maintained above a specified level and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach, continue to apply. - FY2017-Q3RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The covenants requiring net assets to be maintained at no less than 75% of the reference amount and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach, continue to apply. - FY2017-Q2RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The covenants requiring net assets to be maintained at no less than 75% of the reference amount and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach, continue to apply. - FY2017-Q1RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The disclosure of financial covenants requiring net assets to be maintained above a specified level and ordinary profit or loss not to be negative for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach, continues. - FY2016RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
Financial covenants relating to maintaining net assets and ordinary profit or loss, and an interest rate increase in the event of a breach, continue to apply. - FY2016-Q3RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The disclosure of financial covenants relating to maintaining net assets and ordinary profit or loss, as well as an interest rate increase in the event of a breach, continues. - FY2016-Q2First statedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The disclosure sets out conditions including maintaining net assets above a specified level and avoiding losses in ordinary profit or loss for 2 consecutive fiscal periods, as well as an interest rate increase in the event of a breach.