Financing Environment and Financial Covenant Risk
First written in FY2016. 11 of 27 entries say "Mitigated", first in FY2018-Q2. Latest entry: FY2026.
22 other companies' latest entry also says "Other".
- FY2026Maintaining liquidity as cash balances declineAnnual report
「Cash and cash equivalents at the end of the current consolidated fiscal year stood at ¥46,466 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities.」
Cash and cash equivalents decreased from ¥74,926 million at the end of the previous fiscal year to ¥46,466 million, while the company states that sufficient liquidity has been secured through multiple liquidity agreements and a commitment line as necessary. - 2026-04-28RestatedRevisions to earnings forecasts
「Cash and cash equivalents held by our group at the end of the consolidated fiscal year amounted to ¥46.466 billion, and we believe that we have secured sufficient liquidity to conduct our business activities.」
Cash and cash equivalents declined from ¥74.926 billion at the end of the previous fiscal year, but the company continued explaining its liquidity measures, including liquidity agreements and its policy of establishing commitment lines. - FY2026-H1MitigatedAnnual report
「Cash and cash equivalents at the end of the interim consolidated accounting period stood at ¥127,322 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities.」
Cash and cash equivalents increased from ¥74,926 million at the end of the previous fiscal year to ¥127.322 billion. The company also continues to disclose its liquidity agreements and policy of establishing a commitment line as necessary. - FY2025-H1MitigatedAnnual report
「Cash and cash equivalents at the end of the interim consolidated accounting period stood at ¥64,779 million, and we believe that sufficient liquidity has been secured to conduct our business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained if an event occurs that partially impairs liquidity.」
Cash and cash equivalents increased to ¥64,779 million from ¥47,905 million at the end of the previous fiscal year and ¥50,821 million in FY2024-Q3. Liquidity agreements were maintained, indicating an improvement from the recent position of securing liquidity as cash balances declined. - FY2024-Q3Maintaining liquidity as cash balances decline furtherAnnual report
「Cash and cash equivalents at the end of the third quarter of the current consolidated fiscal period stood at ¥50,821 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity.」
Cash and cash equivalents decreased further to ¥50.821 billion from ¥61.249 billion in FY2024-Q2. The company, however, states that sufficient liquidity has been secured through multiple liquidity agreements and other measures. quantified is true, materialized is false. - FY2024-Q2Maintaining liquidity as cash balances declineAnnual report
「Cash and cash equivalents at the end of the second quarter of the current consolidated fiscal period stood at ¥61,249 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity.」
Cash and cash equivalents decreased to ¥61.249 billion from the end of the previous fiscal year, while the company states that sufficient liquidity has been secured through multiple liquidity agreements and a policy of establishing a commitment line as necessary. - FY2024-Q1Response to a large early repaymentAnnual report
「In addition, although early repayment of a ¥60,000 million subordinated loan with a subordination clause is scheduled for 20 September 2023, we have entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity.」
While early repayment of the ¥60.0 billion subordinated loan with a subordination clause is scheduled for 20 September, the company disclosed ¥72.851 billion in cash and cash equivalents, multiple liquidity agreements and a policy of establishing a commitment line as necessary. - FY2023RestatedAnnual report
「Cash and cash equivalents at the end of the current consolidated fiscal year stood at ¥67,556 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities.」
The company continues to disclose ¥67.556 billion in cash and cash equivalents, multiple liquidity agreements and a policy of establishing a commitment line as necessary. - FY2023-Q3RestatedAnnual report
「Cash and cash equivalents at the end of the third quarter of the current consolidated fiscal period stood at ¥69,779 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity. In addition, to secure liquidity funds in preparation for unforeseen events, we will establish a commitment line as necessary.」
Cash and cash equivalents stood at ¥69.779 billion, down from the end of the previous quarter, but the company states that sufficient liquidity has been secured and continues its policy of maintaining existing liquidity agreements and establishing a commitment line as necessary. quantified is true, materialized is false. - FY2023-Q2MitigatedAnnual report
「Cash and cash equivalents at the end of the second quarter of the current consolidated fiscal period stood at ¥99,516 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities.」
Cash and cash equivalents stood at ¥99.516 billion, and the company stated that sufficient liquidity had been secured. The policy of maintaining existing liquidity agreements and establishing a commitment line as necessary also continues. - FY2023-Q1MitigatedAnnual report
「Cash and cash equivalents at the end of the first quarter of the current consolidated fiscal period stood at ¥90,485 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity. In addition, to secure liquidity funds in preparation for unforeseen events, we will establish a commitment line as necessary.」
Cash and cash equivalents stood at ¥90.485 billion, and the company continues its policy of maintaining existing liquidity agreements and establishing a commitment line as necessary. The company states that sufficient liquidity has been secured for its business activities. - FY2022-Q3RestatedAnnual report
「Cash and cash equivalents at the end of the third quarter of the current consolidated fiscal period stood at ¥64,910 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity. In addition, to secure liquidity funds in preparation for unforeseen events, we will establish a commitment line as necessary.」
Cash and cash equivalents stood at ¥64.910 billion, but the company states that sufficient liquidity has been secured and continues its policy of maintaining existing liquidity agreements and establishing a commitment line as necessary. - FY2022-Q2RestatedAnnual report
「Cash and cash equivalents at the end of the second quarter of the current consolidated fiscal period stood at ¥75,205 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity. In addition, to secure liquidity funds in preparation for unforeseen events, we will establish a commitment line as necessary.」
Cash and cash equivalents decreased to ¥75.205 billion from the end of the previous quarter, but the company states that sufficient liquidity has been secured and continues its policy of maintaining existing liquidity agreements and establishing a commitment line as necessary. - FY2022-Q1MitigatedAnnual report
「Cash and cash equivalents at the end of the first quarter of the current consolidated fiscal period stood at ¥84,910 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity. In addition, to secure liquidity funds in preparation for unforeseen events, we will establish a commitment line as necessary.」
The company disclosed ¥84.910 billion in cash and cash equivalents and existing liquidity agreements, and also indicated a policy of establishing a commitment line as necessary. Its explanation regarding the securing of liquidity continues. - FY2021-Q3RestatedAnnual report
「Cash and cash equivalents at the end of the third quarter of the current consolidated fiscal period stood at ¥76,196 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity.」
The company restated its explanation that it had disclosed ¥76.196 billion in cash and cash equivalents and multiple liquidity agreements, securing sufficient liquidity for its business activities. - FY2021-Q2MitigatedAnnual report
「Cash and cash equivalents at the end of the second quarter of the current consolidated fiscal period stood at ¥81,406 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity. In response to deterioration in our group's liquidity caused by a major outbreak of COVID-19 or other event, we will also establish a commitment line as necessary.」
Cash and cash equivalents stood at ¥81.406 billion, and the policy of maintaining existing liquidity agreements and establishing a commitment line as necessary remains in place. The company states that sufficient liquidity has been secured for its business activities. - FY2021-Q1Additional liquidity measures during an infectious disease outbreakAnnual report
「Cash and cash equivalents at the end of the first quarter of the current consolidated fiscal period stood at ¥76,747 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity. In response to deterioration in our group's liquidity caused by a major outbreak of COVID-19 or other event, we will also establish a commitment line as necessary.」
While disclosing ¥76.747 billion in cash and cash equivalents and existing liquidity agreements, the company has added measures to establish a commitment line as necessary in preparation for a deterioration in liquidity caused by a major outbreak of COVID-19. - FY2020-Q3RestatedAnnual report
「Cash and cash equivalents at the end of the third quarter of the current consolidated fiscal period stood at ¥72,756 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity.」
The company restated its explanation that it had disclosed ¥72,756 million in cash and cash equivalents and multiple liquidity agreements, securing sufficient liquidity for its business activities. - FY2020-Q2MitigatedAnnual report
「Cash and cash equivalents at the end of the second quarter of the current consolidated fiscal period stood at ¥77,331 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity.」
The company disclosed ¥77,331 million in cash and cash equivalents and multiple liquidity agreements, stating that sufficient liquidity has been secured. Cash and cash equivalents increased from ¥69,580 million at the end of the previous quarter, indicating measures to address the financing environment and liquidity risk. - FY2020-Q1RestatedAnnual report
「Cash and cash equivalents at the end of the first quarter of the current consolidated fiscal period stood at ¥69,580 million, and we believe that sufficient liquidity has been secured to conduct our group's business activities.」
The company restated its explanation that it had disclosed ¥69.580 billion in cash and cash equivalents and multiple liquidity agreements, securing sufficient liquidity for its business activities. - FY2019-Q3RestatedAnnual report
「Cash and cash equivalents at the end of the third quarter of the current consolidated fiscal period stood at ¥60.549 billion, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity.」
The company restated its explanation that it had disclosed ¥60.549 billion in cash and cash equivalents and multiple liquidity agreements, securing sufficient liquidity. - FY2019-Q2MitigatedAnnual report
「Cash and cash equivalents at the end of the second quarter of the current consolidated fiscal period stood at ¥70.724 billion, and we believe that sufficient liquidity has been secured to conduct our group's business activities. We have also entered into revolving credit facility agreements, overdraft agreements and receivables securitization agreements with financial institutions, and believe that a certain level of liquidity can be maintained even if an event occurs that partially impairs liquidity.」
The company disclosed ¥70.724 billion in cash and cash equivalents and multiple liquidity agreements, stating that sufficient liquidity has been secured for its business activities. - FY2019-Q1MitigatedAnnual report
「Cash and cash equivalents at the end of the first quarter of the current consolidated fiscal period stood at ¥65.0 billion, and we believe that sufficient liquidity has been secured to conduct our group's business activities.」
The company states that it held ¥65.0 billion in cash and cash equivalents at the end of the first quarter, securing sufficient liquidity for its business activities. - FY2018-Q3MitigatedAnnual report
「As part of our efforts to reduce interest-bearing debt under the medium-term management plan, we negotiated with the participating financial institutions through Development Bank of Japan Inc., the arranger, regarding the early repayment of the syndicated loan agreement dated 22 December 2011 and arranged by Development Bank of Japan Inc. on behalf of 7 financial institutions. After reaching an agreement, we repaid the entire principal and paid the settlement amount on 29 December 2017, thereby settling the agreement.」
Under the medium-term management plan, the entire principal of the 7-bank syndicated loan arranged by Development Bank of Japan was repaid early, settling one borrowing agreement subject to financial covenants. Exposure to the financing environment and financial covenants was reduced. - FY2018-Q2MitigatedAnnual report
「As part of our efforts to reduce interest-bearing debt under the medium-term management plan, we negotiated with The Bank of Tokyo-Mitsubishi UFJ, Ltd. for the early repayment of our term-out medium-term commitment line agreement dated 30 September 2011 and reached an agreement. Accordingly, on 29 September 2017, we repaid the entire principal and paid the settlement amount, thereby settling the agreement.」
As part of the reduction of interest-bearing debt under the medium-term management plan, the entire principal of the term-out medium-term commitment line was repaid early and the agreement was settled. Other existing financial covenants continue to be disclosed. - FY2017-Q3RestatedAnnual report
「Avoid ordinary losses for 2 consecutive fiscal periods based on the ordinary income for each fiscal year.」
The notes restate existing conditions among the financial covenants attached to syndicated loans and other facilities, including the requirement to avoid ordinary losses for 2 consecutive fiscal periods. - FY2016First statedAnnual report
「There is no assurance that new borrowings from financial institutions or bond issuances can be arranged on similar terms. If our group is unable to obtain financing through borrowings from financial institutions or bond issuances in a timely manner, this could have a significant impact on our group's financing.」
The borrowing agreements include covenants requiring net assets to be maintained at 75% or more of the reference amount, avoiding ordinary losses for 2 consecutive fiscal periods, and preventing the issuer rating from falling to BB+ or below, among others.