Repayment of borrowings and working capital funding through term loans, and financial covenants
First written in FY2022-Q2. 3 of 4 entries say "Advanced", first in FY2025. Latest entry: FY2026.
0 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「Maintain the ratio of net interest-bearing debt on the consolidated balance sheet at the end of the consolidated fiscal year to EBITDA reported in the consolidated income statement and consolidated cash flow statement at 0 or more and 7.0 or less. Certain agreements instead require this ratio to be maintained at 0 or more and 10 or less.」
The company disclosed financial covenant conditions including a maximum net interest-bearing debt-to-EBITDA ratio of 7.0x or 10x, as well as the borrowing amount at the end of the fiscal year. - FY2026-H1AdvancedAnnual report
「The following are the newly executed borrowing agreements with financial covenants during the current interim consolidated accounting period.」
During the interim period, the company newly entered into borrowing agreements with contractual principals of ¥111,100 thousand, ¥71,900 thousand, ¥890,000 thousand, ¥80,000 thousand and ¥88,000 thousand, all subject to financial covenants. The covenants include maintaining net assets at 75% or more of the previous-year level and avoiding losses for two consecutive fiscal years in ordinary profit or loss or operating profit or loss, as well as avoiding ordinary losses. - FY2025AdvancedAnnual report
「The Company must ensure that ordinary profit or loss as reported in the consolidated income statement at the end of the consolidated fiscal year is not a loss. The amount borrowed under contracts containing the above financial covenants at the end of the current consolidated fiscal year was ¥738 million.」
For borrowings subject to financial covenants, the company disclosed multiple conditions and the borrowing amount, including maintaining net assets, avoiding losses for two consecutive fiscal years, avoiding ordinary losses, and maintaining the net interest-bearing debt-to-EBITDA ratio. - FY2022-Q2First statedAnnual report
「At a meeting of the Board of Directors held on 14 January 2022, the company resolved to enter into a term loan agreement totaling ¥1.5 billion, with 株式会社りそな銀行 as arranger. …Final repayment date: 31 January 2029… Use of funds: repayment of borrowings; working capital… Maintain standalone net assets at the end of each fiscal year at no less than 75% of the level at the end of the same period of the previous fiscal year. Ensure that standalone ordinary profit or loss reported in the income statement for each fiscal year does not record a loss for two consecutive fiscal years.」
The company resolved to enter into a term loan agreement totaling ¥1.5 billion, with a final repayment date of 31 January 2029. The funds will be used to repay borrowings and provide working capital, with financial covenants requiring net assets to be maintained at 75% or more of the previous-year level and prohibiting ordinary losses for two consecutive fiscal years.