Financial covenants under the syndicated loan
First written in FY2021. 1 of 2 entries say "Advanced", first in FY2026. Latest entry: FY2026.
15 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「DPE Financial covenants ① During the borrowing period, to maintain DPE’s total net assets shown on its balance sheet at an amount equal to or greater than 50% of DPE’s total net assets shown on its balance sheet as of the end of December 2023. ② During the borrowing period, beginning with the fiscal year after the 5-month period following acquisition of the completion certificate for the financed plant, not to record operating losses for 2 consecutive fiscal years.」
Regarding the syndicated loan financial covenants, the Company disclosed DPE’s new agreement, the requirement to maintain net assets at 50%, the avoidance of operating losses for 2 consecutive fiscal years, and the balance of ¥45.506 billion as of the end of March 2026. - FY2021First statedAnnual report
「(1) To maintain, as of the end of the fiscal year ending March 2022 and at the end of each subsequent fiscal year, total consolidated net assets shown on the consolidated balance sheet at an amount equal to or greater than 75% of total consolidated net assets shown on the consolidated balance sheet at the end of the immediately preceding fiscal year. (2) Not to record an operating loss for 2 consecutive fiscal years, based on operating profit or loss shown on the consolidated income statement at the end of each fiscal year.」
Regarding the syndicated loan agreement dated 22 February 2021, the Company disclosed financial covenants requiring the maintenance of net assets at 75% or more and avoidance of operating losses for 2 consecutive fiscal years.