Financial Covenants in Loan Agreements and Risk of Acceleration
First written in FY2018-Q3. 8 of 10 entries say "Restated". Latest entry: FY2026.
44 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「The financial covenants require consolidated net assets, excluding the foreign currency translation adjustment account, to be maintained at 75% or more of the reference amount and prohibit ordinary losses for 2 consecutive fiscal years.」
The annual disclosure confirmed that the ¥1,800 million term loan executed on 25 June 2025 contains financial covenants requiring net assets to be maintained at 75% or more of the reference amount and prohibiting ordinary losses for 2 consecutive fiscal years, and is secured by a factory foundation mortgage. - FY2026-H1New loan agreement containing a net assets maintenance covenantAnnual report
「The Company entered into a loan agreement with financial covenants. The agreement was executed on 25 June 2025, with principal of ¥1,800 million and a repayment date of 30 June 2028. The financial covenants require consolidated net assets, excluding the foreign currency translation adjustment account, to be maintained at 75% or more of the reference amount and prohibit ordinary losses for 2 consecutive fiscal years.」
The Company disclosed a new ¥1,800 million loan agreement containing a covenant to maintain net assets at 75% or more of the reference amount, in addition to the existing covenant concerning ordinary losses for 2 consecutive fiscal years. - FY2021-Q1RestatedAnnual report
「• With respect to ordinary income or loss on the consolidated income statement for each fiscal year-end, the Company must not record ordinary losses for 2 consecutive fiscal years. If this covenant is breached, all obligations under the agreement become immediately due and payable. Borrowings under this agreement were ¥3,000 million in short-term borrowings and ¥7,867 million in long-term borrowings due within 1 year.」
The financial covenant prohibiting ordinary losses for 2 consecutive fiscal years and the risk of acceleration upon breach continue to be disclosed. At the end of the current quarter, the relevant borrowings consisted of ¥3,000 million in short-term borrowings and ¥7,867 million in long-term borrowings due within 1 year. - FY2020-Q3RestatedAnnual report
「• With respect to ordinary income or loss on the consolidated income statement for each fiscal year-end, the Company must not record ordinary losses for 2 consecutive fiscal years. If this covenant is breached, all obligations under the agreement become immediately due and payable. Borrowings under this agreement were ¥4,085 million in short-term borrowings and ¥7,324 million in long-term borrowings.」
The financial covenant prohibiting ordinary losses for 2 consecutive fiscal years and the risk of acceleration upon breach continue to be disclosed. Relevant borrowings consisted of ¥4,085 million in short-term borrowings and ¥7,324 million in long-term borrowings. - FY2020-Q2RestatedAnnual report
「• With respect to ordinary income or loss on the consolidated income statement for each fiscal year-end, the Company must not record ordinary losses for 2 consecutive fiscal years. If this covenant is breached, all obligations under the agreement become immediately due and payable. Borrowings under this agreement were ¥4,085 million in short-term borrowings and ¥7,595 million in long-term borrowings.」
The financial covenant prohibiting ordinary losses for 2 consecutive fiscal years and the risk of acceleration upon breach continue to be disclosed. Relevant borrowings consisted of ¥4,085 million in short-term borrowings and ¥7,595 million in long-term borrowings. - FY2020-Q1RestatedAnnual report
「With respect to ordinary income or loss on the consolidated income statement for each fiscal year-end, the Company must not record ordinary losses for 2 consecutive fiscal years. If this covenant is breached, all obligations under the agreement become immediately due and payable. Borrowings under this agreement were ¥4,085 million in short-term borrowings and ¥7,867 million in long-term borrowings.」
The financial covenant prohibiting ordinary losses for 2 consecutive fiscal years and the risk of acceleration upon breach continue to be disclosed. At the end of the current quarter, the relevant borrowings consisted of ¥4,085 million in short-term borrowings and ¥7,867 million in long-term borrowings. - FY2019-Q3RestatedAnnual report
「With respect to ordinary income or loss on the consolidated income statement for each fiscal year-end, the Company must not record ordinary losses for 2 consecutive fiscal years. If this covenant is breached, all obligations under the agreement become immediately due and payable.」
The financial covenant prohibiting ordinary losses for 2 consecutive fiscal years and the risk of acceleration upon breach continue to be disclosed. - FY2019-Q2RestatedAnnual report
「With respect to ordinary income or loss on the consolidated income statement for each fiscal year-end, the Company must not record ordinary losses for 2 consecutive fiscal years. If this covenant is breached, all obligations under the agreement become immediately due and payable.」
The financial covenant prohibiting ordinary losses for 2 consecutive fiscal years and the risk of acceleration upon breach continue to be disclosed. - FY2019-Q1RestatedAnnual report
「• With respect to ordinary income or loss on the consolidated income statement for each fiscal year-end, the Company must not record ordinary losses for 2 consecutive fiscal years. If this covenant is breached, all obligations under the agreement become immediately due and payable.」
The financial covenant and the risk of acceleration if ordinary losses are recorded for 2 consecutive fiscal years continue to be disclosed. At the end of the current quarter, the relevant borrowings consisted of ¥4,085 million in short-term borrowings and ¥8,952 million in long-term borrowings. - FY2018-Q3First statedAnnual report
「With respect to ordinary income or loss on the consolidated income statement for each fiscal year-end, the Company must not record ordinary losses for 2 consecutive fiscal years. If this covenant is breached, all obligations under the agreement become immediately due and payable. At the end of the third quarter of the current consolidated fiscal year, borrowings under the committed line and term loan agreements consisted of ¥4,085 million in short-term borrowings and ¥9,494 million in long-term borrowings.」
The committed line and term loan agreements contain a financial covenant prohibiting ordinary losses for 2 consecutive fiscal years, with breach resulting in acceleration of all obligations. At the quarter-end, the relevant borrowings consisted of ¥4,085 million in short-term borrowings and ¥9,494 million in long-term borrowings.