Funding policy centered on cash on hand and debt repayment
First written in FY2018. 5 of 8 entries say "Restated". Latest entry: FY2024.
101 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「We believe that the overdraft agreement and the revolving credit facility entered into during the current fiscal year will enable us to respond to a sudden increase in working capital needs. However, if M&A, a substantial increase in personnel, or capital investment becomes necessary, we will reassess and determine whether to draw on borrowings as appropriate.」
While basing funding on cash on hand, the company maintains the overdraft agreement and the ¥4 billion revolving credit facility as financing capacity for growth, M&A, and other needs. - FY2024-Q3Establishment of a revolving credit facility to support growthAnnual report
「Toward that goal, we have built the organization and systems needed to enable growth and accumulated business capabilities. To establish our business model, place the business as a whole on a growth trajectory, and achieve further growth, we have decided to enter into a revolving credit facility agreement, with working capital financing as its permitted use of funds.」
In addition to the previous policy of relying primarily on cash on hand, the company entered into an agreement with a total lending limit of ¥4 billion as a working capital financing facility for future growth. - FY2023RestatedAnnual report
「As the overdraft agreement remains in place, we believe we can respond to a sudden increase in working capital needs. However, if M&A, a substantial increase in personnel, or capital investment becomes necessary, we will reassess and determine whether to draw on borrowings as appropriate.」
While basing funding on cash on hand, the company continues its policy of maintaining an overdraft agreement and determining, as necessary, whether to draw on borrowings for funding needs including M&A, increased personnel, and capital investment. - FY2021Adding M&A to funding needsAnnual report
「As the overdraft agreement remains in place, we believe we can respond to a sudden increase in working capital needs. However, if M&A, a substantial increase in personnel, or capital investment becomes necessary, we will reassess and determine whether to draw on borrowings as appropriate.」
While continuing to base funding on cash on hand, the company explicitly identified M&A, in addition to the previously identified needs of increased personnel and capital investment, as a funding need for which it may draw on borrowings. - FY2020RestatedAnnual report
「As the overdraft agreement remains in place, we believe we can respond to a sudden increase in working capital needs. However, if a substantial increase in personnel or capital investment becomes necessary, we will reassess and determine whether to draw on borrowings as appropriate.」
While basing funding on cash on hand, the company continues to maintain an overdraft agreement as protection against a sudden increase in working capital needs. - FY2020-Q2RestatedAnnual report
「Cash flows from financing activities resulted in an outflow of ¥144.080 million, compared with an outflow of ¥96.037 million in the same quarter of the previous year, mainly due to expenditures for the repayment of lease liabilities (¥5.989 million) and dividend payments (¥138.007 million).」
The company describes a situation in which it is making financing expenditures, including dividend payments, without drawing on borrowings, supported by cash on hand. - FY2019RestatedAnnual report
「With respect to cash flows from operating activities, we believe that working capital can be funded with cash on hand. With respect to cash flows from investing activities, there were expenditures for deposits and guarantees in connection with the acquisition of investment securities to strengthen relationships with business partners and expanded office space due to increased staffing accompanying higher sales and other factors, but these expenditures could be funded with cash on hand.」
The company continues to pursue a funding policy of covering working capital and investment expenditures with cash on hand. - FY2018First statedAnnual report
「With respect to cash flows from operating activities, we believe that working capital can be funded with cash on hand, and are therefore repaying borrowings through cash flows from financing activities. With respect to cash flows from investing activities, there were expenditures for deposits and guarantees in connection with expanded office space due to increased staffing accompanying higher sales and other factors, but these expenditures could also be funded with cash on hand.」
The company describes for the first time, as a distinct theme, a funding policy of covering working capital and expenditures associated with expanded office space with cash on hand and repaying borrowings.