Financial covenants and liquidity risk under the syndicated loan
First written in FY2018. 2 of 21 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2017: 8 of 54 companies on the "Worse" side.
13 other companies' latest entry also says "Other".
- FY2025Syndicated-loan borrowings continue to declineAnnual report
「The outstanding balance under this agreement was as follows, and there was no undrawn amount: outstanding borrowings, ¥1.375 billion.」
The outstanding balance of the ¥4 billion syndicated loan was ¥1.375 billion at the end of December 2025, down from ¥1.875 billion at the end of the previous fiscal year. The Company was not in breach of any financial covenants. - FY2026-H1Syndicated-loan borrowings continue to declineAnnual report
「The outstanding balance under this agreement was as follows, and there was no undrawn amount: previous consolidated fiscal year (31 December 2025), ¥1.375 billion; first half of the current consolidated fiscal year (30 June 2026), ¥1.125 billion.」
The outstanding balance of the ¥4 billion syndicated loan decreased from ¥1.375 billion at the end of December 2025 to ¥1.125 billion at the end of June 2026. - 2026-04-30MaterialisedEarnings
「The content platform provides services including the JC-HITS multichannel distribution service for cable television operators. However, the decline in the number of users of multichannel broadcasting services offered by cable television stations resulted in sales of ¥655 million, down 7.0% year on year.」
The decline in users of multichannel cable television broadcasting services and the resulting decrease in sales of the content platform, including JC-HITS, have continued. - FY2025-H1Syndicated-loan borrowings continue to declineAnnual report
「The outstanding balance under this agreement was as follows, and there was no undrawn amount: previous consolidated fiscal year (31 December 2024), ¥1.875 billion; first half of the current consolidated fiscal year (30 June 2025), ¥1.625 billion.」
The outstanding balance of the ¥4 billion syndicated loan decreased from ¥1.875 billion at the end of December 2024 to ¥1.625 billion at the end of June 2025. - FY2024-H1Syndicated-loan borrowings continue to declineAnnual report
「The outstanding balance under this agreement was as follows, and there was no undrawn amount: previous consolidated fiscal year (31 December 2023), ¥2.375 billion; first half of the current consolidated fiscal year (30 June 2024), ¥2.125 billion.」
The outstanding balance of the ¥4 billion syndicated loan decreased from ¥2.375 billion at the end of December 2023 to ¥2.125 billion at the end of June 2024. No breach of financial covenants was reported. - FY2024-Q1Syndicated-loan borrowings continue to declineAnnual report
「The outstanding balance under this agreement was as follows, and there was no undrawn amount: previous consolidated fiscal year (31 December 2023), ¥2.375 billion; first quarter of the current consolidated fiscal year (31 March 2024), ¥2.25 billion.」
The outstanding balance of the ¥4 billion syndicated loan decreased from ¥2.375 billion at the end of December 2023 to ¥2.25 billion. - FY2023-Q3Syndicated-loan borrowings continue to declineAnnual report
「Borrowings outstanding under this agreement at the end of the consolidated accounting period for the third quarter were ¥2.5 billion.」
The outstanding balance of the ¥4 billion syndicated loan decreased from ¥2.875 billion at the end of December 2022 to ¥2.5 billion. - FY2023-Q1Syndicated-loan borrowings continue to declineAnnual report
「The outstanding balance under this agreement was ¥2.75 billion as of the end of the first quarter of the fiscal year.」
The outstanding balance of the ¥4 billion syndicated loan decreased from ¥2.875 billion at the end of December 2022 to ¥2.75 billion. - FY2022Syndicated-loan borrowings continue to declineAnnual report
「The outstanding balance under this agreement was ¥2.875 billion as of the end of the fiscal year.」
The outstanding balance of the ¥4 billion syndicated loan decreased from ¥3.375 billion at the end of the previous fiscal year to ¥2.875 billion. The Company was not in breach of any financial covenants. - FY2022-Q3Further decline in syndicated-loan borrowingsAnnual report
「The outstanding balance under this agreement was ¥3 billion as of the end of the third quarter of the fiscal year.」
The outstanding balance of the ¥4 billion syndicated loan for the new Otemachi site decreased to ¥3 billion from ¥3.375 billion at the end of the previous fiscal year and ¥3.125 billion in the previous quarter. - FY2022-Q2Further decline in syndicated-loan borrowingsAnnual report
「In addition, to provide flexible financing for the funding needs associated with investment in the new data center opened in Otemachi, the Company entered into a ¥4 billion commitment-based syndicated loan agreement with 5 transaction banks and other financial institutions in March 2018. The outstanding balance under this agreement was ¥3.125 billion as of the end of the second quarter of the fiscal year.」
The outstanding balance of the syndicated loan for the new Otemachi site decreased from ¥3.375 billion at the end of the previous fiscal year to ¥3.125 billion. - FY2022-Q1Further decline in syndicated-loan borrowingsAnnual report
「To meet funding needs associated with investment in the new Otemachi site opened in Otemachi and raise funds flexibly, the Company entered into a ¥4.0 billion committed syndicated loan agreement with 5 transaction banks and other financial institutions in March 2018. The balance of borrowings under the agreement was ¥3.25 billion at the end of the first quarter of the current consolidated fiscal year.」
The outstanding balance of the syndicated loan for the new Otemachi site declined from ¥3,375 million at the end of the previous fiscal year to ¥3.25 billion. - FY2021Further decline in syndicated-loan borrowingsAnnual report
「The balance of borrowings under the agreement was ¥3,375 million at the end of the current consolidated fiscal year.」
The outstanding balance of the syndicated loan for the new Otemachi site declined from ¥3,875 million at the end of the previous fiscal year to ¥3,375 million. No breach of the financial covenants was disclosed. - FY2021-Q3Decline in syndicated-loan borrowingsAnnual report
「The balance of borrowings under the agreement was ¥3.5 billion at the end of the third quarter of the current consolidated fiscal year.」
The outstanding balance of the ¥4.0 billion syndicated loan for the new data center declined from ¥3,875 million at the end of the previous consolidated fiscal year to ¥3.5 billion. - FY2020MitigatedAnnual report
「The financial covenants are as follows, and the Company was not in breach of them at the end of the current consolidated fiscal year.」
The Company explicitly stated that it was not in breach of the syndicated-loan financial covenants at the end of the current consolidated fiscal year. The outstanding balance of borrowings declined from ¥4.0 billion to ¥3,875 million. - FY2020-Q3RestatedAnnual report
「To meet funding needs associated with investment in the new data center opened in Otemachi and raise funds flexibly, the Company entered into a ¥4.0 billion committed syndicated loan agreement with 5 transaction banks and other financial institutions in March 2018. The balance of borrowings under the agreement was ¥4.0 billion at the end of the third quarter of the current consolidated fiscal year.」
The outstanding balance of the ¥4.0 billion syndicated loan for the new data center remained ¥4.0 billion at the end of the third quarter. - FY2020-Q2MitigatedAnnual report
「② Ordinary profit or loss as stated in the consolidated statements of income for the fiscal year ending December 2020 and each subsequent fiscal year-end must not be a loss for 2 consecutive periods. ③ Ordinary profit or loss as stated in the consolidated statements of income for the second quarter-end of the fiscal year ending December 2020 (the end of June 2020) must not be a loss. Ordinary profit was ¥394 million (ordinary loss of ¥207 million in the same period of the previous year).」
While the Company continued to disclose the financial covenant applicable at the end of the second quarter of the fiscal year ending December 2020, ordinary profit for the six months ended 30 June was ¥394 million, meaning that the disclosed figure was not a loss and did not breach the condition that ordinary profit or loss must not be a loss at the end of June. - FY2020-Q1RestatedAnnual report
「② Ordinary profit or loss as stated in the consolidated statements of income for the fiscal year ending December 2020 and each subsequent fiscal year-end must not be a loss for 2 consecutive periods. ③ Ordinary profit or loss as stated in the consolidated statements of income for the second quarter-end of the fiscal year ending December 2020 (the end of June 2020) must not be a loss.」
The Company continues to disclose the financial covenants relating to ordinary profit or loss applicable at the end of June 2020 and from the end of the fiscal year ending December 2020 onward for the ¥4.0 billion syndicated loan. - FY2018-Q3Borrowings drawn reached the full amountAnnual report
「To provide flexible financing for funding needs associated with investment in the new data center opened in Otemachi in August, the Company entered into a ¥4 billion committed syndicated loan agreement with five transaction banks and other lenders in March. The amount drawn at the end of September was ¥4 billion.」
The full ¥4.0 billion syndicated loan for investment in the new data center had been drawn as of the end of September. No breach of the financial covenants was disclosed. - FY2018Financial covenants amendedAnnual report
「The Company entered into a ¥4.0 billion committed syndicated loan agreement dated 26 March 2018 with 5 transaction banks and other financial institutions, with Sumitomo Mitsui Banking Corporation as arranger, and entered into an amendment agreement dated 28 December 2018. The financial covenants following the amendment are as follows.」
For the ¥4.0 billion syndicated loan, an amendment agreement was signed on 28 December 2018, changing the timing and conditions for applying the financial covenant relating to ordinary profit or loss. The outstanding amount drawn was ¥4.0 billion. - FY2018First statedAnnual report
「The Company entered into a committed syndicated loan agreement with 5 transaction banks and other financial institutions to fund investment in a new data center. The agreement contains certain financial covenants, and a breach could result in the loss of the benefit of time for repayment and affect the Company’s liquidity.」
The ¥4.0 billion committed syndicated loan for investment in the new data center includes covenants requiring net assets to be maintained above a certain level and prohibiting losses for 2 consecutive periods in ordinary profit or loss. The impact on liquidity in the event of a breach is identified as a risk.