Overdraft Agreement to Secure Working Capital for the Energy Business
First written in FY2019-Q3. 7 of 10 entries say "Advanced", first in FY2019. Latest entry: FY2022-Q4.
10 other companies' latest entry also says "Dropped".
- FY2022-Q4DroppedAnnual report
「Following the filing on 25 March 2022 of a petition for commencement of bankruptcy proceedings for ホープエナジー, formerly a consolidated subsidiary, and the issuance of a commencement order on the same date, we withdrew from the energy business, changed our business portfolio and, under the new structure, are treating the elimination of negative net worth by the end of the current consolidated fiscal year as our highest priority.」
The previous financing theme of securing working capital for the energy business ended with the withdrawal from that business, and the primary focus of financing shifted to eliminating negative net worth. - FY2022-Q2AdvancedAnnual report
「We carried out equity financing, including raising approximately ¥150 million through the issuance of shares via a third-party allotment on 21 September 2021 and approximately ¥780 million through the exercise of the 11th series of stock acquisition rights with an exercise-price adjustment clause.」
Following the financing through the ninth series of stock acquisition rights and other instruments, the company raised approximately ¥150 million through third-party allotment shares and approximately ¥780 million through the 11th series of stock acquisition rights. - FY2022-Q1AdvancedAnnual report
「By issuing shares through a third-party allotment on 17 May 2021 and through the exercise of the ninth series of stock acquisition rights with an exercise-price adjustment clause, we had raised approximately ¥2.2 billion by the end of August 2021. In addition, we raised approximately ¥150 million through the issuance of shares via a third-party allotment on 21 September 2021 and ¥1 billion through the issuance of the fourth series of unsecured corporate bonds (privately placed bonds) on 10 September 2021. Of the latter amount, approximately ¥620 million had been repaid through the exercise of the 11th series of stock acquisition rights as of the filing date of this quarterly report.」
Funds raised through the ninth series of stock acquisition rights and other instruments increased from approximately ¥2 billion by the end of July to approximately ¥2.2 billion by the end of August, and the company also disclosed financing of approximately ¥150 million through third-party allotment shares and ¥1 billion through fourth-series unsecured corporate bonds. - FY2021AdvancedAnnual report
「By issuing shares through a third-party allotment on 17 May 2021 and through the exercise of the ninth series of stock acquisition rights with an exercise-price adjustment clause, we had raised approximately ¥2 billion by the end of July 2021.」
Financing through the ninth series of stock acquisition rights and other instruments progressed, with approximately ¥2 billion raised by the end of July 2021. The company also resolved to raise additional funds through the 11th series of stock acquisition rights and unsecured corporate bonds. - FY2021-Q3AdvancedAnnual report
「As described under “Material Subsequent Events,” at a meeting of the Board of Directors held on 30 April 2021, we resolved to issue shares through a third-party allotment, the ninth series of stock acquisition rights with an exercise-price adjustment clause, and the second series of unsecured corporate bonds (privately placed bonds). In addition, we will consider various financing measures to improve cash flow and eliminate negative net worth.」
The company resolved to raise funds through a combination of new shares, the ninth series of stock acquisition rights and unsecured corporate bonds to pay insufficient imbalance charges, improve cash flow and eliminate negative net worth. It stated that, as of the filing date, the financing had not yet been completed. - FY2021-Q2AdvancedAnnual report
「The company has been strengthening its capital base, including by raising approximately ¥1.6 billion to date as the exercise of the third-party allotment stock acquisition rights announced on 11 August 2020 and issued on 2 September 2020 progressed to 75%, or 300,000 of 400,000 shares.」
The company disclosed that exercise of the third-party allotment stock acquisition rights had progressed to 300,000 of 400,000 shares, or 75%, raising approximately ¥1.6 billion. - FY2021-Q1AdvancedAnnual report
「Use of proceeds ※ ① Working capital for the energy business: ¥1,478.408 million Expected expenditure period: September 2020 to June 2021 ② Cash collateral for the energy business: ¥500 million Expected expenditure period: September 2020 to March 2022」
The company carried out specific financing using the estimated net proceeds of ¥1,978.408 million from the seventh series of stock acquisition rights for working capital and cash collateral for the energy business. - FY2020ReframedAnnual report
「We believe it is important to address these funding needs by securing the working capital that has increased since the current fiscal year as the energy business has expanded, as well as expenditures arising from the provision of cash collateral required for immediate funding needs, while maintaining a balanced combination of equity financing and debt financing.」
The company expanded its disclosure from securing working capital through the existing overdraft facility to a financing policy combining equity and debt financing. After the filing, it also disclosed the issuance of third-party allotment stock acquisition rights, with estimated net proceeds of ¥1,978.408 million, for working capital and other needs in the energy business. - FY2019AdvancedAnnual report
「A financial characteristic of this business is that payments for electricity procurement generally precede receipts from electricity sales by a short period, averaging slightly less than one month, and required working capital is expected to increase as the scale of transactions expands. By entering into this overdraft facility, we believe we can secure working capital and further strengthen our financial foundation by enabling flexible financing.」
The overdraft facility resolved on in the third quarter was entered into on 15 May 2019, putting into concrete form the measure to secure working capital for the energy business. The facility limit was ¥500 million, and the term ran from 20 May 2019 to 20 May 2020. - FY2019-Q3First statedAnnual report
「At a meeting of the Board of Directors held on 10 May 2019, we resolved to enter into the following overdraft facility agreement in order to secure recurring working capital for the energy business and further strengthen our financial foundation. (1) Counterparty 株式会社みずほ銀行 (2) Facility limit ¥500 million (3) Agreement period 20 May 2019 to 20 May 2020 (automatically renewed annually thereafter) (7) Other special terms Individual borrowings will cover short-term, recurring working capital arising in connection with the energy business」
The company resolved to enter into an overdraft facility to secure recurring working capital for the energy business and stabilize its financial foundation, with a facility limit of ¥500 million and an agreement period from 20 May 2019 to 20 May 2020.