Financial covenants attached to long-term borrowings
First written in FY2018-Q1. 7 of 10 entries say "Restated". Latest entry: FY2022-Q3.
44 other companies' latest entry also says "Restated".
- FY2022-Q3RestatedAnnual report
「The long-term borrowings from Mizuho Bank, Ltd. are subject to the financial covenants set out below under a memorandum dated 29 October 2021. If any of these covenants is breached, the company may lose the benefit of time for repayment.」
The company continues to disclose the financial covenants under the memorandum dated 29 October 2021, as well as the possibility of losing the benefit of time if the covenants are breached. - FY2022-Q1RestatedAnnual report
「The long-term borrowings from Mizuho Bank, Ltd. are subject to the financial covenants set out below under a memorandum dated 29 October 2021. If any of these covenants is breached, the company may lose the benefit of time for repayment.」
The company continues to disclose the financial covenants under the memorandum dated 29 October 2021, as well as the possibility of losing the benefit of time if the covenants are breached. - FY2021Update to financial covenantsAnnual report
「The long-term borrowings from Mizuho Bank, Ltd. are subject to the financial covenants set out below under a memorandum dated 29 October 2021. If any of these covenants is breached, the company may lose the benefit of time for repayment.」
Under a memorandum dated 29 October 2021, the terms have been updated to require net assets to remain at least 75% of the amount at the end of the immediately preceding fiscal year and to prohibit operating losses for 2 consecutive fiscal years. - FY2019-Q3RestatedAnnual report
「At the end of the previous consolidated fiscal year, the company was in breach of financial covenants attached to long-term borrowings from Mizuho Bank, Ltd. under an agreement dated 27 March 2018. However, it obtained the bank's consent not to exercise its right to declare the benefit of time forfeited.」
The company continues to describe the breach of financial covenants at the end of the previous consolidated fiscal year and the situation in which it obtained the banks' consent not to exercise their right to declare the benefit of time lost. - FY2019-Q2RestatedAnnual report
「At the end of the previous consolidated fiscal year, the company was in breach of financial covenants attached to long-term borrowings from Mizuho Bank, Ltd. under an agreement dated 27 March 2018. However, it obtained the bank's consent not to exercise its right to declare the benefit of time forfeited.」
The Company continues to describe the breach of financial covenants at the end of the previous fiscal year and the situation in which it obtained the banks’ consent not to exercise their right to demand the loss of the benefit of time. - FY2019-Q1RestatedAnnual report
「At the end of the previous consolidated fiscal year, the company was in breach of financial covenants attached to long-term borrowings from Mizuho Bank, Ltd. under an agreement dated 27 March 2018. However, it obtained the bank's consent not to exercise its right to declare the benefit of time forfeited.」
The Company continues to disclose the breach of financial covenants at the end of the previous consolidated fiscal year and the subsequent consent obtained from the banks. - FY2018MaterialisedAnnual report
「At the end of the fiscal year, the company was in breach of the financial covenants attached to the long-term borrowings obtained from Mizuho Bank, Ltd. under an agreement dated 27 March 2018, but had obtained the bank's consent not to exercise its right to demand repayment before maturity.」
The breach of financial covenants, which had previously been disclosed as a risk, has actually occurred, and the Company obtained the banks’ consent not to exercise their right to demand immediate repayment due to loss of the benefit of time. - FY2018-Q3RestatedAnnual report
「Beginning with the fiscal year ending November 2018, the amount of net assets in the borrower’s consolidated balance sheet at the end of each fiscal year must be at least 75% of the total amount of net assets in the balance sheet at the end of the immediately preceding consolidated fiscal year.」
The Company continues to disclose financial covenants attached to long-term borrowings concerning net assets of at least 75%, avoidance of losses for 2 consecutive periods in ordinary profit or loss, and the ratio of net interest-bearing debt to EBITDA. - FY2018-Q2RestatedAnnual report
「Beginning with the fiscal year ended November 2018, at the end of each subsequent fiscal year, the amount of net assets in the borrower's consolidated balance sheet must be at least 75% of the total amount of net assets in the balance sheet at the end of the immediately preceding consolidated fiscal year.」
The Company continues to disclose financial covenants attached to long-term borrowings concerning net assets of at least 75%, avoidance of losses for 2 consecutive periods in ordinary profit or loss, and the ratio of net interest-bearing debt to EBITDA. - FY2018-Q1First statedAnnual report
「Beginning with the fiscal year ending November 2018, the amount of net assets in the borrower’s consolidated balance sheet at the end of each fiscal year must be at least 75% of the total amount of net assets in the balance sheet at the end of the immediately preceding consolidated fiscal year. Beginning with the fiscal year ending November 2018, ordinary income or loss shown in the borrower’s consolidated income statement for each fiscal year must not be a loss for 2 consecutive fiscal years thereafter.」
For part of the long-term working capital borrowings drawn down in March 2018, the company discloses financial covenants requiring net assets to be at least 75% of the amount at the end of the immediately preceding fiscal year and prohibiting ordinary losses for two consecutive periods. Another borrowing is subject to a covenant requiring the standalone net debt-to-EBITDA ratio to remain no higher than 10 times and not become negative for two consecutive periods.