Financial covenants applicable to short-term borrowings
First written in FY2021-Q1. 15 of 19 entries say "Worsened", first in FY2021-Q2. Latest entry: 2026-09-25.
Ki-Star Real Estate moved to the "Worse" side of this theme in 2020, 5 years before the typical company in this theme (2025).
17 other companies' latest entry also says "Worsened".
- 2026-09-25WorsenedOccurring Fact
「Financial covenant ① Maintain the amount of net assets on the unconsolidated and consolidated balance sheets at the end of each fiscal year at no less than 75% of the higher of the amount of net assets at the end of the fiscal year ending March 2021 or at the end of the previous fiscal year.」
The revised overdraft agreements will also include financial covenants concerning maintenance of net assets and ordinary income. The borrowing capacity subject to financial covenants is increasing. - FY2026WorsenedAnnual report
「The balances of borrowings subject to the above financial covenants at the end of the previous consolidated fiscal year and at the end of the current consolidated fiscal year were as follows. Short-term borrowings: ¥65,338 million and ¥70,884 million Long-term borrowings, including the current portion: ¥56,358 million and ¥69,198 million」
Total borrowings subject to financial covenants, including short-term and long-term borrowings, increased from the end of the previous fiscal year. - FY2026-H1WorsenedAnnual report
「The balances of borrowings subject to the above financial covenants at the end of the previous consolidated fiscal year and at the end of the current interim consolidated accounting period were as follows. Short-term borrowings: ¥65,338 million and ¥71,690 million. Long-term borrowings, including the current portion: ¥56,358 million and ¥56,214 million.」
Borrowings subject to financial covenants increased in short-term borrowings from ¥65,338 million to ¥71,690 million. Long-term borrowings and other borrowings decreased slightly from ¥56,358 million to ¥56,214 million, but total borrowings subject to the covenants increased. - FY2025-H1WorsenedAnnual report
「The balances of borrowings subject to the above financial covenants at the end of the previous consolidated fiscal year and at the end of the current interim consolidated accounting period were as follows. Short-term borrowings ¥72,504 million ¥62,534 million Long-term borrowings, including the current portion ¥26,907 million ¥57,467 million」
Borrowings subject to financial covenants decreased in short-term borrowings from ¥72,504 million to ¥62,534 million, while long-term borrowings and other borrowings increased from ¥26,907 million to ¥57,467 million. Total borrowings subject to the covenants increased. - FY2024-Q2RestatedAnnual report
「Certain short-term and long-term borrowings and bonds of the Group are subject to financial covenants requiring the maintenance of specified levels of net assets, interest-bearing debt and inventories in the consolidated and non-consolidated financial statements, as well as ordinary profit and other items.」
The company continues to disclose that certain short-term and long-term borrowings and bonds are subject to financial covenants relating to net assets, interest-bearing debt, inventories, ordinary profit and other items. - FY2024-Q1RestatedAnnual report
「Certain short-term borrowings and bonds of the Group are subject to financial covenants requiring the maintenance of specified levels of net assets, interest-bearing debt and inventories in the consolidated and non-consolidated financial statements, as well as ordinary profit and other items.」
The company continues to disclose that certain short-term borrowings and bonds are subject to financial covenants relating to net assets, interest-bearing debt, inventories, ordinary profit and other items. - FY2023WorsenedAnnual report
「Of short-term borrowings, ¥32,167.8 million are subject to the financial covenants set out below. If these covenants are breached, the borrower may lose the benefit of the term of the loan.」
Short-term borrowings subject to financial covenants increased from ¥28,710.0 million at the end of the previous fiscal year to ¥32,167.8 million. The company also disclosed short-term borrowings of ¥4,791.4 million under which the borrower loses the benefit of the term of the loan upon 3 or more simultaneous covenant breaches. - FY2023-Q3WorsenedAnnual report
「Of short-term borrowings, ¥41,039.0 million are subject to the financial covenants set out below. If these covenants are breached, the borrower may lose the benefit of the term of the loan.」
Short-term borrowings subject to financial covenants increased from ¥28,710.0 million at the end of the previous consolidated fiscal year to ¥41,039.0 million. Conditions relating to net assets, ordinary profit, LTV, inventory turnover period, the debt-to-equity ratio and cash balances, among others, are attached. - FY2023-Q2WorsenedAnnual report
「Of short-term borrowings, ¥37,980.0 million are subject to the financial covenants set out below. If these covenants are breached, the borrower may lose the benefit of the term of the loan.」
Short-term borrowings subject to financial covenants increased from ¥28,710.0 million at the end of the previous consolidated fiscal year to ¥37,980.0 million. Conditions relating to net assets, ordinary profit, LTV, inventory turnover period, the debt-to-equity ratio and cash balances, among others, are attached, but no covenant breaches are reported. - FY2023-Q1WorsenedAnnual report
「Of short-term borrowings, ¥34,405.8 million are subject to the financial covenants set out below. If these covenants are breached, the borrower may lose the benefit of the term of the loan.」
Short-term borrowings subject to financial covenants increased from ¥28,710.0 million at the end of the previous consolidated fiscal year to ¥34,405.8 million. In addition, covenants were newly attached to short-term borrowings of ¥3,989.9 million and ¥3,715.0 million. - FY2022WorsenedAnnual report
「Financial covenants apply to ¥28,710 million of the short-term borrowings outstanding. If these covenants are breached, the borrower will lose the benefit of time.」
Short-term borrowings subject to financial covenants increased to ¥28,710 million, with conditions concerning net assets, ordinary profit, LTV, inventory turnover period, debt-to-equity ratio and cash balances, among others. - FY2022-Q3WorsenedAnnual report
「(3) Financial covenants apply to ¥24,240 million of the short-term borrowings outstanding. If these covenants are breached, the borrower will lose the benefit of time.」
Short-term borrowings subject to financial covenants totaled ¥24,240 million, up from ¥23,370 million in the previous disclosure. Conditions concerning net assets, ordinary profit, LTV, inventory turnover period, debt-to-equity ratio and cash balances, among others, apply. - FY2022-Q2WorsenedAnnual report
「(3) Financial covenants apply to ¥23,370 million of the short-term borrowings outstanding. If these covenants are breached, the borrower will lose the benefit of time.」
The ¥23,370 million of short-term borrowings subject to financial covenants carries conditions concerning net assets, ordinary profit, LTV, inventory turnover period, debt-to-equity ratio and cash balances, among others. - FY2022-Q1Changes in the composition of borrowings subject to financial covenantsAnnual report
「(3) Financial covenants apply to ¥1,172.8 million of the short-term borrowings outstanding. If these covenants are breached for 2 consecutive periods, the borrower will lose the benefit of time.」
In the disclosure for the end of the current quarter, the amount and composition of short-term borrowings subject to financial covenants had changed from the disclosure at the previous fiscal year-end. Conditions concerning net assets, ordinary profit or loss, inventory turnover and net debt-to-equity ratio, among others, continued to be disclosed, and no covenant breach was reported. - FY2021-Q3WorsenedAnnual report
「(1) Financial covenants apply to ¥2 billion of the short-term borrowings outstanding and ¥3 billion of the bonds outstanding. If these covenants are breached, the borrower will lose the benefit of time.」
The company disclosed that financial covenants apply not only to ¥2 billion of short-term borrowings but also to ¥3 billion of bonds. It also disclosed separate financial covenants on ¥299.3 million and ¥106 million of short-term borrowings, with conditions concerning net assets, ordinary profit or loss, LTV, inventory turnover period and net debt-to-equity ratio, among others. - FY2021-Q2WorsenedAnnual report
「(1) Financial covenants apply to ¥2 billion of the short-term borrowings outstanding: the amount of net assets on the consolidated balance sheet at the end of the second quarter and fiscal year-end of each fiscal year must be maintained at ¥13 billion or more and at least 70% of the amount in the same period of the previous year; and the gross profit margin shown on the consolidated income statement for the second quarter and fiscal year of each fiscal year must be maintained at 2.0% or more.」
The short-term borrowings subject to financial covenants increased from ¥1 billion to ¥2 billion. In addition, covenants concerning standalone net assets and ordinary profit or loss were attached to ¥221 million of short-term borrowings. No covenant breach was reported. - FY2021-Q1First statedAnnual report
「Financial covenants apply to ¥1 billion of the short-term borrowings outstanding: (1) the amount of net assets on the consolidated balance sheet at the end of the second quarter and fiscal year-end of each fiscal year must be maintained at ¥13 billion or more and at least 70% of the amount in the same period of the previous year; and (2) the gross profit margin shown on the consolidated income statement for the second quarter and fiscal year of each fiscal year must be maintained at 2.0% or more.」
Financial covenants concerning net assets and the gross profit margin were disclosed for the first time for ¥1 billion of short-term borrowings. No covenant breach was reported.