Risk of breaching financial covenants attached to acquisition borrowings
First written in FY2022-Q3. 8 of 13 entries say "Restated". Latest entry: FY2027-H1.
0 other companies' latest entry also says "Other".
- FY2027-H1No applicable items for the current periodAnnual report
「Current interim consolidated accounting period (31 August 2026) There are no applicable items.」
The borrowings subject to financial covenants at the end of the previous consolidated fiscal year and the covenants are disclosed, while it is stated that there are no applicable financial covenants for the current interim consolidated accounting period. - FY2026Update to the relevant borrowingsAnnual report
「The Company has entered into long-term borrowing agreements with its lending banks. These agreements contain the financial covenants set out below. If the covenants are breached, the Company will lose the benefit of time for repayment. The borrowings subject to the covenants were ¥2,373.812 million in current portion of long-term borrowings.」
While the substance of the financial covenants remains unchanged, all of the relevant borrowings, amounting to ¥2,373.812 million, are now classified as current portion of long-term borrowings. - 2026-05-08RestatedGeneral Meetings of Shareholders
「The borrowings subject to these financial covenants consist of current maturities of long-term borrowings amounting to ¥2,373.812 million.」
The company continued to disclose financial covenants requiring it to maintain net assets at no less than 65% of the amount at the most recent fiscal year-end and to avoid reporting a consolidated operating loss. - FY2026-H1Update to the relevant borrowingsAnnual report
「Interim consolidated accounting period (31 August 2025) The Company has entered into long-term borrowing agreements with its lending banks. These agreements contain the financial covenants set out below. If the covenants are breached, the Company will lose the benefit of time for repayment. The borrowings subject to the covenants were ¥2,623.687 million in current portion of long-term borrowings.」
The borrowings subject to the financial covenants were disclosed as ¥2,623.687 million in current portion of long-term borrowings as of the end of the interim period. The substance of the financial covenants remains unchanged. - FY2025RestatedAnnual report
「The Company has entered into long-term borrowing agreements with its lending banks. These agreements contain the financial covenants set out below. If the covenants are breached, the Company will lose the benefit of time for repayment. The borrowings subject to the covenants were ¥499.75 million in current portion of long-term borrowings and ¥2,373.812 million in long-term borrowings.」
The financial covenants concerning net assets and operating results attached to the acquisition borrowings and the relevant borrowings of ¥2,873.562 million continue to be disclosed. - FY2025-H1RestatedAnnual report
「The Company was in breach of the financial covenants as of the end of the previous consolidated fiscal year, but obtained written consent from its lending financial institutions in April 2024 not to exercise their right to accelerate repayment on the grounds of that breach.」
The breach of the financial covenants at the end of the previous consolidated fiscal year and the written consent from the financial institutions not to demand acceleration of repayment continue to be disclosed. - FY2025-Q1MaterialisedAnnual report
「The Company was in breach of the financial covenants as of the end of the previous consolidated fiscal year, but obtained written consent from its lending financial institutions in April 2024 not to exercise their right to accelerate repayment on the grounds of that breach.」
Although a breach of the financial covenant concerning net assets actually occurred at the end of the previous consolidated fiscal year, the Company obtained written consent from its financial institutions not to exercise their right to accelerate repayment. - FY2024-Q3RestatedAnnual report
「Although operating results were negative as of the end of the third-quarter consolidated accounting period, adding back goodwill amortisation resulted in positive operating results, so the above financial covenants had not been breached.」
Although operating results were negative, the filing states that the financial covenants had not been breached as of the end of the third quarter because adding back goodwill amortisation resulted in positive operating results. - FY2024-Q2RestatedAnnual report
「Although operating results were negative as of the end of the second-quarter consolidated accounting period, adding back goodwill amortisation resulted in positive operating results, so the above financial covenants had not been breached.」
Although operating results were negative, the filing states that the financial covenants had not been breached as of the end of the second quarter because adding back goodwill amortisation resulted in positive operating results. - FY2024-Q1RestatedAnnual report
「Although operating results were negative as of the end of the first-quarter consolidated accounting period, adding back goodwill amortisation resulted in positive operating results, so the above financial covenants had not been breached.」
Although operating results were negative, the filing states that the financial covenants had not been breached because adding back goodwill amortisation resulted in positive operating results. - FY2023-Q3RestatedAnnual report
「The borrowings subject to the financial covenants were ¥300.25 million in current portion of long-term borrowings and ¥3,399.5 million in long-term borrowings. ... As of the end of the third-quarter consolidated accounting period, none of the above financial covenants had been breached.」
The financial covenants attached to the acquisition borrowings and the relevant borrowings continue to be disclosed, with no breach reported as of the end of the third quarter. - FY2023-Q1RestatedAnnual report
「As of the end of the first-quarter consolidated accounting period, none of the above financial covenants had been breached.」
The filing states that the financial covenants attached to the acquisition borrowings had not been breached as of the end of the quarter. The relevant borrowings were ¥300.25 million in current portion of long-term borrowings and ¥3,549.625 million in long-term borrowings. - FY2022-Q3First statedAnnual report
「The loan agreements used to fund the acquisition of the company, which had been drawn down during the nine-month period ended the third quarter and total ¥4 billion, contain financial covenants concerning the amount of net assets in the consolidated balance sheet at each fiscal year-end and operating results in the consolidated income statement for each fiscal year. If these covenants are breached, the Company may be required to repay the borrowings.」
For the ¥4 billion in borrowings drawn down to fund the acquisition, the filing describes for the first time in specific terms the financial covenants concerning maintenance of net assets and operating results, as well as the possibility of a repayment demand if the covenants are breached.