Financial covenants on the syndicated loan
First written in FY2017-Q2. 17 of 24 entries say "Restated". Latest entry: FY2024-Q2.
The whole theme swung hardest in 2017: 8 of 54 companies on the "Worse" side.
40 other companies' latest entry also says "Restated".
- FY2024-Q2RestatedAnnual report
「Although some financial covenants were breached at the end of the fiscal year ended March 2023, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
The company continues to disclose the breach of financial covenants at the end of the fiscal year ended March 2023 and the status of waivers granted by financial institutions. - FY2024-Q1RestatedAnnual report
「Although some financial covenants were breached at the end of the fiscal year ended March 2023, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
The company continues to disclose the breach of financial covenants at the end of the fiscal year ended March 2023 and the status of waivers granted by financial institutions. - FY2023MaterialisedAnnual report
「Although some financial covenants were breached at the end of the fiscal year ended March 2023, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
Breaches of financial covenants also occurred at the end of the fiscal year ended March 2023, and the company received waivers from all lending institutions, including the principal banks. - FY2023-Q3RestatedAnnual report
「Although some financial covenants were breached at the end of the fiscal year ended March 2022, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
The company continues to disclose the breach of financial covenants at the end of the fiscal year ended March 2022 and the status of waivers granted by financial institutions. - FY2023-Q1RestatedAnnual report
「Although some financial covenants were breached at the end of the fiscal year ended March 2022, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
The company continues to disclose the breach of financial covenants at the end of the fiscal year ended March 2022 and the status of waivers granted by all lending institutions, including the principal banks. - FY2022MaterialisedAnnual report
「Although some financial covenants were breached at the end of the fiscal year ended March 2022, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
Breaches of financial covenants also occurred at the end of the fiscal year ended March 2022, and the company received waivers from financial institutions. - FY2022-Q3RestatedAnnual report
「Although financial covenants were breached at the end of the fiscal year ended March 2021, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
The company continues to disclose the breach of financial covenants at the end of the fiscal year ended March 2021 and the status of waivers granted by financial institutions. - FY2022-Q2RestatedAnnual report
「Although financial covenants were breached at the end of the fiscal year ended March 2021, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
The company continues to disclose the breach of financial covenants at the end of the fiscal year ended March 2021 and the status of waivers granted by all lending institutions, including the principal banks. - FY2022-Q1RestatedAnnual report
「Although some financial covenants were breached at the end of the fiscal year ended March 2021, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
The company continues to disclose the breach of financial covenants at the end of the fiscal year ended March 2021 and the status of waivers granted by all lending institutions, including the principal banks. - FY2021MaterialisedAnnual report
「Although some financial covenants were breached at the end of the fiscal year ended March 2021, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
At the end of the fiscal year ended March 2021, breaches of some financial covenants under the syndicated loan and overdraft agreements occurred, and the company received waivers from financial institutions. - FY2021-Q2RestatedAnnual report
「Although some financial covenants were breached at the end of the fiscal year ended March 2020, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches resulted from the impact of COVID-19.」
The company continues to disclose the status as of the end of the previous fiscal year regarding breaches of financial covenants and waivers granted by financial institutions. - FY2021-Q1Additional disclosure of financial covenants under the overdraft agreementAnnual report
「The overdraft agreement contains the following financial covenants. ① Starting with the fiscal year ending March 2020, the total amount of net assets in the standalone balance sheet as of the end of each fiscal year must be maintained at not less than 75% of the higher of the total amount of net assets as of the end of the fiscal year ended March 2019 or the end of the previous fiscal year. ② Starting with the fiscal year ending March 2020, ordinary income in the standalone income statement as of the end of each fiscal year must be maintained at ¥0 or more. Although some financial covenants were breached at the end of the fiscal year ended March 2020, all lending institutions, including the principal banks, granted a waiver because it was clear that the breaches were temporary and resulted from the impact of COVID-19.」
In addition to the existing syndicated loan covenants, the company disclosed overdraft agreement covenants requiring net assets to be maintained at 75% and ordinary income at zero or more. The breach of some covenants at the end of the fiscal year ended March 2020 and the waivers granted by financial institutions also continue to be disclosed. - FY2020MaterialisedAnnual report
「In addition, although the Company was in breach of certain financial covenants at the end of the fiscal year ended March 2020, as it is clear that this was temporary and attributable to the impact of COVID-19, the Company is in a position to receive a certain degree of understanding from all financial institutions, including its principal banks.」
The company states that an actual breach of some financial covenants occurred at the end of the fiscal year ended March 2020. - FY2020-Q3RestatedAnnual report
「① From the fiscal year ending March 2020 onward, including that fiscal year, the amount of net assets in the consolidated balance sheet as of the end of each fiscal year must be maintained at not less than 75% of the amount of net assets in the consolidated balance sheet as of the end of the fiscal year ended March 2019. ② From the fiscal year ending March 2020 onward, including that fiscal year, ordinary income must not be a loss for 2 consecutive fiscal years, as shown in the consolidated income statement for each fiscal year.」
The company continues to disclose the new syndicated loan covenants requiring net assets to be maintained at not less than 75% and avoiding losses in ordinary income for 2 consecutive fiscal years. - FY2020-Q2ReframedAnnual report
「The syndicated loan agreement contains the following financial covenants. ① From the fiscal year ending March 2020 onward, including that fiscal year, the amount of net assets in the consolidated balance sheet as of the end of each fiscal year must be maintained at not less than 75% of the amount of net assets in the consolidated balance sheet as of the end of the fiscal year ended March 2019. ② From the fiscal year ending March 2020 onward, including that fiscal year, ordinary income must not be a loss for 2 consecutive fiscal years, as shown in the consolidated income statement for each fiscal year.」
In connection with the new syndicated loan executed in September 2019, the financial covenant threshold was revised to 75% or more of net assets at the end of the fiscal year ended March 2019, with application beginning from the fiscal year ending March 2020. - FY2019-Q3RestatedAnnual report
「The syndicated loan agreement contains the following financial covenants. ① From the fiscal year ending March 2017 onward, including that fiscal year, the amount of net assets in the consolidated balance sheet as of the end of each fiscal year must be maintained at not less than 75% of the amount calculated by adding ¥499.5 million, the subscription proceeds for new shares issued in the third-party allotment dated 13 July 2016, to the amount of net assets in the consolidated balance sheet as of the end of the fiscal year ended March 2016. ② From the fiscal year ending March 2017 onward, including that fiscal year, ordinary income must not be a loss for 2 consecutive fiscal years, as shown in the consolidated income statement for each fiscal year.」
The company continues to disclose the covenant requiring net assets to be maintained at not less than 75% of the reference amount and the covenant prohibiting losses in ordinary income for 2 consecutive fiscal years. - FY2019-Q2RestatedAnnual report
「The syndicated loan agreement contains the following financial covenants. ① From the fiscal year ending March 2017 onward, including that fiscal year, the amount of net assets in the consolidated balance sheet as of the end of each fiscal year must be maintained at not less than 75% of the amount calculated by adding ¥499.5 million, the subscription proceeds for new shares issued in the third-party allotment dated 13 July 2016, to the amount of net assets in the consolidated balance sheet as of the end of the fiscal year ended March 2016. ② From the fiscal year ending March 2017 onward, including that fiscal year, ordinary income must not be a loss for 2 consecutive fiscal years, as shown in the consolidated income statement for each fiscal year.」
The company continues to disclose financial covenants requiring net assets to be maintained at not less than 75% and avoiding losses in ordinary income for 2 consecutive fiscal years. - FY2019-Q1RestatedAnnual report
「① From the fiscal year ending March 2017 onward, including that fiscal year, the amount of net assets in the consolidated balance sheet as of the end of each fiscal year must be maintained at not less than 75% of the amount calculated by adding ¥499.5 million, the subscription proceeds for new shares issued in the third-party allotment dated 13 July 2016, to the amount of net assets in the consolidated balance sheet as of the end of the fiscal year ended March 2016. ② From the fiscal year ending March 2017 onward, including that fiscal year, ordinary income must not be a loss for 2 consecutive fiscal years, as shown in the consolidated income statement for each fiscal year.」
The company continues to disclose the covenant requiring net assets to be maintained at not less than 75% of the reference amount and the covenant prohibiting losses in ordinary income for 2 consecutive fiscal years. - FY2018-Q3RestatedAnnual report
「The syndicated loan agreement contains the following financial covenants. ① From the fiscal year ending March 2017 onward, including that fiscal year, the amount of net assets in the consolidated balance sheet as of the end of each fiscal year must be maintained at not less than 75% of the amount calculated by adding ¥499.5 million, the subscription proceeds for new shares issued in the third-party allotment dated 13 July 2016, to the amount of net assets in the consolidated balance sheet as of the end of the fiscal year ended March 2016. ② From the fiscal year ending March 2017 onward, including that fiscal year, ordinary income must not be a loss for 2 consecutive fiscal years, as shown in the consolidated income statement for each fiscal year.」
The company continues to disclose the covenant requiring maintenance of net assets and the covenant prohibiting losses in ordinary income for 2 consecutive fiscal years. - FY2018-Q2RestatedAnnual report
「The syndicated loan agreement contains the following financial covenants. ① From the fiscal year ending March 2017 onward, including that fiscal year, the amount of net assets in the consolidated balance sheet as of the end of each fiscal year must be maintained at not less than 75% of the amount calculated by adding ¥499.5 million, the subscription proceeds for new shares issued in the third-party allotment dated 13 July 2016, to the amount of net assets in the consolidated balance sheet as of the end of the fiscal year ended March 2016. ② From the fiscal year ending March 2017 onward, including that fiscal year, ordinary income must not be a loss for 2 consecutive fiscal years, as shown in the consolidated income statement for each fiscal year.」
The company continues to disclose the covenant requiring maintenance of net assets and the covenant prohibiting losses in ordinary income for 2 consecutive fiscal years. - FY2018-Q1RestatedAnnual report
「The syndicated loan agreement contains the following financial covenants. ① From the fiscal year ending March 2017 onward, including that fiscal year, the amount of net assets in the consolidated balance sheet as of the end of each fiscal year must be maintained at not less than 75% of the amount calculated by adding ¥499.5 million, the subscription proceeds for new shares issued in the third-party allotment dated 13 July 2016, to the amount of net assets in the consolidated balance sheet as of the end of the fiscal year ended March 2016. ② From the fiscal year ending March 2017 onward, including that fiscal year, ordinary income must not be a loss for 2 consecutive fiscal years, as shown in the consolidated income statement for each fiscal year.」
The company continues to disclose the covenant requiring maintenance of net assets and the covenant avoiding losses in ordinary income for 2 consecutive fiscal years. - FY2017RestatedAnnual report
「The syndicated loan agreement contains the following financial covenants.」
The company continues to disclose the covenant requiring maintenance of net assets and the covenant prohibiting losses in ordinary income for 2 consecutive fiscal years. - FY2017-Q3RestatedAnnual report
「The syndicated loan agreement contains the following financial covenants.」
The company continues to disclose financial covenants requiring net assets to be maintained at not less than 75% of the reference amount and prohibiting losses in ordinary income for 2 consecutive fiscal years. - FY2017-Q2First statedAnnual report
「① From the fiscal year ending March 2017 onward, including that fiscal year, the amount of net assets in the consolidated balance sheet as of the end of each fiscal year must be maintained at not less than 75% of the amount calculated by adding ¥499.5 million, the subscription proceeds for new shares issued in the third-party allotment dated 13 July 2016, to the amount of net assets in the consolidated balance sheet as of the end of the fiscal year ended March 2016. ② From the fiscal year ending March 2017 onward, including that fiscal year, ordinary income must not be a loss for 2 consecutive fiscal years, as shown in the consolidated income statement for each fiscal year.」
The syndicated loan agreement contains financial covenants requiring net assets to be maintained at not less than 75% of the reference amount and prohibiting losses in ordinary income for 2 consecutive fiscal years.