Financial Covenants Under STELLA PHARMA CORPORATION’s Borrowing Agreements
First written in FY2021. 3 of 4 entries say "Mitigated", first in FY2022-Q1. Latest entry: FY2022-Q3.
39 other companies' latest entry also says "Mitigated".
- FY2022-Q3MitigatedAnnual report
「Long-term borrowings of ¥1,293 million from Sumitomo Mitsui Banking Corporation held by the company's consolidated subsidiary STELLA PHARMA CORPORATION are subject to financial covenants. …The subsidiary was not in breach of the financial covenants at the end of the third quarter accounting period of the current fiscal year.」
Long-term borrowings subject to financial covenants totaled ¥1,293 million, down from ¥1,413 million at the end of the previous fiscal year. There was no breach of the covenants at the end of the third quarter. - FY2022-Q2MitigatedAnnual report
「Long-term borrowings of ¥1,333 million from Sumitomo Mitsui Banking Corporation held by the company's consolidated subsidiary STELLA PHARMA CORPORATION are subject to financial covenants. The subsidiary was not in breach of the financial covenants at the end of the second quarter accounting period of the current fiscal year.」
Long-term borrowings subject to financial covenants totaled ¥1,333 million, down from ¥1,413 million at the end of the previous fiscal year. There was no breach of the covenants at the end of the second quarter. The company's ¥500 million commitment line is also subject to a net worth maintenance covenant. - FY2022-Q1MitigatedAnnual report
「Long-term borrowings of ¥1,373 million from Sumitomo Mitsui Banking Corporation held by the company's consolidated subsidiary STELLA PHARMA CORPORATION are subject to financial covenants. If the subsidiary breaches its compliance obligations under the covenants, it will, upon demand by the bank, lose the benefit of the term of the loan and be obligated to repay the borrowings immediately. The subsidiary was not in breach of the financial covenants at the end of the first quarter accounting period of the current fiscal year.」
Long-term borrowings subject to financial covenants totaled ¥1,373 million, down from ¥1,413 million at the end of the previous fiscal year. There was no breach of the covenants at the end of the quarter. - FY2021First statedAnnual report
「Long-term borrowings of ¥1,413 million from Sumitomo Mitsui Banking Corporation held by the company's consolidated subsidiary STELLA PHARMA CORPORATION are subject to financial covenants. If the subsidiary breaches its compliance obligations under the covenants, it will, upon demand by the bank, lose the benefit of the term of the loan and be obligated to repay the borrowings immediately. The subsidiary was not in breach of the financial covenants at the end of the current consolidated fiscal year.」
The company newly disclosed that STELLA PHARMA CORPORATION's long-term borrowings are subject to financial covenants concerning profit before income taxes, net assets and cash and deposits. There was no breach at the end of the period.