Borrowings and Commitment Lines Subject to Financial Covenants
First written in FY2018. 4 of 9 entries say "Worsened", first in FY2020. Latest entry: FY2026.
DaikyoNishikawa moved to the "Worse" side of this theme in 2020, 3 years before the typical company in this theme (2023).
The whole theme swung hardest in 2017: 8 of 54 companies on the "Worse" side.
52 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「The outstanding balances drawn under borrowings subject to financial covenants are as follows: Term loan agreement (DaikyoNishikawa USA Inc.), current consolidated fiscal year, outstanding balance drawn: ¥14,707 million.」
The U.S. subsidiary's outstanding borrowings subject to financial covenants decreased from ¥17,476 million to ¥14,707 million. - FY2025MitigatedAnnual report
「The outstanding balances drawn under borrowings subject to financial covenants are as follows: Term loan agreement (DaikyoNishikawa USA Inc.), current consolidated fiscal year, outstanding balance drawn: ¥17,476 million.」
The U.S. subsidiary's outstanding borrowings subject to financial covenants decreased from ¥25,736 million in the previous fiscal year to ¥17,476 million. - FY2024MitigatedAnnual report
「The outstanding balances drawn under borrowings subject to financial covenants are as follows: Term loan agreement (DaikyoNishikawa USA Inc.), current consolidated fiscal year, outstanding balance drawn: ¥25,736 million.」
The U.S. subsidiary's outstanding borrowings subject to financial covenants decreased from ¥27,216 million in the previous fiscal year to ¥25,736 million. - FY2023WorsenedAnnual report
「The outstanding balances drawn under borrowings subject to financial covenants are as follows: Term loan agreement (DaikyoNishikawa USA Inc.), current consolidated fiscal year, outstanding balance drawn: ¥27,216 million.」
The U.S. subsidiary's outstanding borrowings subject to financial covenants increased from ¥25,798 million to ¥27,216 million. Meanwhile, the Mexican subsidiary's corresponding balance fell from ¥249 million to zero. - FY2022WorsenedAnnual report
「The outstanding balances drawn under borrowings subject to financial covenants are as follows: Term loan agreement (DaikyoNishikawa USA Inc.), current consolidated fiscal year, outstanding balance drawn: ¥25,798 million.」
The U.S. subsidiary's outstanding borrowings subject to financial covenants increased from ¥18,904 million in the previous fiscal year to ¥25,798 million, increasing financial exposure related to the new U.S. plant. The Mexican subsidiary's balance decreased from ¥672 million to ¥249 million. - FY2021WorsenedAnnual report
「The outstanding balances drawn under borrowings subject to financial covenants are as follows: Term loan agreement (DaikyoNishikawa USA Inc.), current consolidated fiscal year, outstanding balance drawn: ¥18,904 million.」
The U.S. subsidiary's outstanding borrowings subject to financial covenants increased from ¥5,039 million in the previous fiscal year to ¥18,904 million, increasing financial exposure related to the new U.S. plant. - FY2020WorsenedAnnual report
「DaikyoNishikawa USA Inc., a consolidated subsidiary, has entered into a syndicated loan agreement with its relationship banks. The agreement contains financial covenants requiring net assets for each fiscal year from the fiscal year ending December 2025 onward and pretax income or loss for each fiscal year from the fiscal year ending December 2023 onward to remain above specified amounts. The outstanding balance drawn is ¥5,039 million.」
A ¥5,039 million syndicated loan related to the new U.S. plant and financial covenants based on fiscal years from 2023 and 2025 onward were newly disclosed, increasing financial exposure. - FY2019RestatedAnnual report
「The commitment line agreement described above contains financial covenants requiring net assets and ordinary income or loss for each fiscal year to remain above specified amounts.」
The company continues to disclose financial covenants concerning net assets and ordinary income or loss under its commitment line and the syndicated loan of its Mexican subsidiary. - FY2018First statedAnnual report
「The commitment line agreement described above contains financial covenants requiring net assets and ordinary income or loss for each fiscal year to remain above specified amounts.」
The company has disclosed financial covenants concerning net assets and ordinary income or loss under its commitment line agreements and syndicated loans as a new financial exposure.