Using external financing as appropriate, with operating cash flow as the foundation
First written in FY2018. 2 of 5 entries say "Advanced", first in FY2019-Q1. Latest entry: FY2020-Q1.
The whole theme swung hardest in 2021: 1 of 6 companies on the "Worse" side.
6 other companies' latest entry also says "Restated".
- FY2020-Q1RestatedAnnual report
「The Group prioritizes intra-group lending and borrowing through group financing, mainly via its cash management system, over external borrowing.」
The company has reconfirmed its cash management policy of prioritizing intra-group lending and borrowing over external borrowing. - FY2019AdvancedAnnual report
「The Group prioritizes intra-group lending and borrowing through group financing, mainly via its cash management system, over external borrowing.」
In addition to its policy of using operating cash flow as the primary source and external financing as needed, the company has specified that intra-group lending and borrowing will be prioritized over external borrowing. The unused capacity under the shelf registration for bond issuance is ¥200 billion, and the overdraft facility limit is ¥113 billion. - FY2019-Q3RestatedAnnual report
「The Group generally uses funds generated by cash flows from operating activities first to finance working capital and investments. However, depending on the financing environment, including funding needs and interest-rate trends, as well as the repayment and redemption schedules for existing interest-bearing debt, the Group may determine the appropriate scale and method of financing and obtain external funding as needed.」
The company has reconfirmed its policy of using cash flows from operating activities as the primary source and deciding on external financing based on the financing environment and other factors. - FY2019-Q1AdvancedAnnual report
「To maximize the Group’s overall funding efficiency, and provided that such arrangements are legally permissible and economically rational, the Group prioritizes intra-group lending and borrowing through group financing, mainly via its cash management system, over external borrowing.」
In addition to its policy of using operating cash flow as the primary source and external financing as needed, the company has specified operational guidelines for cash management that prioritize intra-group lending and borrowing over external borrowing. - FY2018First statedAnnual report
「The Group generally uses funds generated by cash flows from operating activities first to finance working capital and investments. However, depending on the financing environment, including funding needs and interest-rate trends, as well as the repayment and redemption schedules for existing interest-bearing debt, the Group may determine the appropriate scale and method of financing and obtain external funding as needed.」
The company states that cash flows from operating activities will be prioritized for working capital and investments, while external financing, such as borrowings and bonds, will be considered based on the financing environment and other factors.