Management of Liquidity Risk Related to Financing
First written in FY2019. 11 of 29 entries say "Worsened", first in FY2021-Q1. Latest entry: FY2026.
Tabikobo moved to the "Worse" side of this theme in 2022, 3 years before the typical company in this theme (2025).
20 other companies' latest entry also says "Other".
- FY2026Cash fell sharply, but a ¥500 million commitment line was securedAnnual report
「As of the end of the consolidated fiscal year, the company held ¥981.291 million in cash and deposits. In addition, on 20 May 2026, it entered into a commitment line agreement with MUFG Bank, Ltd. with a facility limit of ¥500 million, securing a flexible and stable means of financing.」
Cash and cash equivalents decreased by ¥1,880.743 million from the end of the previous fiscal year to ¥722.791 million due to payments including refunds and investigation expenses. However, the company newly secured a ¥500 million commitment line and determined that there was no material uncertainty regarding liquidity for the foreseeable future. - FY2026-H1Cash declined due to refunds and investigation expenses, but no cash flow concernsAnnual report
「Cash and cash equivalents at the end of the current interim consolidated accounting period totaled ¥1,051.919 million, a decrease of ¥1,551.615 million from the end of the previous consolidated fiscal year.」
Cash and cash equivalents declined significantly due to payments of ¥778.375 million for the repayment of employment adjustment subsidies and ¥374.643 million for special investigation expenses, among other items. Meanwhile, the company held ¥1,293.419 million in cash and deposits and states that there are no significant concerns regarding cash management for the foreseeable future. - FY2025RestatedAnnual report
「Cash and deposits at the end of the current consolidated fiscal year totaled ¥2,603.535 million, an increase of ¥124.289 million from the end of the previous consolidated fiscal year. Even after taking into account expected expenditures, including the repayment of employment adjustment subsidies previously received, the company is in a position to sufficiently cover its business funding needs for the foreseeable future and has no significant concerns regarding cash management.」
Cash and deposits totaled ¥2,603.535 million, and the company states that there are no significant concerns regarding cash management for the foreseeable future even after taking into account expenditures such as the repayment of subsidies. - FY2025-H1MitigatedAnnual report
「In terms of its financial position, the company held ¥2,640.713 million in cash and deposits at the end of the current interim consolidated accounting period. As it is in a position to sufficiently cover its business funding needs for the foreseeable future, there are no significant concerns regarding cash management.」
Cash and deposits totaled ¥2,640.713 million, while operating cash flow was an inflow of ¥163.651 million. The company indicated that it had determined there were no significant concerns regarding cash management, maintaining the improvement in its response to liquidity risk. - FY2024MitigatedAnnual report
「To efficiently procure working capital, the company had entered into overdraft agreements and loan commitment agreements with 4 transaction banks, but terminated these agreements during the current consolidated fiscal year.」
The company terminated its overdraft and loan commitment agreements and repaid ¥1,799 million in short-term borrowings, reducing the balance to zero. Concrete progress was made in addressing liquidity risk related to funding. - FY2024-Q4MitigatedAnnual report
「Cash and deposits at the end of the fourth quarter of the current consolidated fiscal year totaled ¥2,512.222 million, an increase of ¥1,684.313 million from the end of the previous consolidated fiscal year.」
Cash and deposits increased, and the balance of short-term borrowings fell to zero after repayment of ¥1,799 million. The company also states that, as a result of a private placement and other measures, “significant concerns regarding cash management have also been resolved.” Liquidity risk has declined, although the operating loss continues. - FY2024-Q3MitigatedAnnual report
「Cash and deposits at the end of the third quarter of the current consolidated fiscal year were ¥2,488.097 million, an increase of ¥1,660.188 million from the end of the previous consolidated fiscal year. To strengthen its capital base, the company issued the third series of stock acquisition rights through a third-party allotment in August 2022 and raised ¥619.736 million through the exercise of those rights during the cumulative third quarter of the current consolidated fiscal year. In addition, to further stabilize its financial base, the Board of Directors resolved at its meeting held on 10 August 2023 to issue new shares through a third-party allotment, and payment of ¥3,000 million was completed on 31 October 2023.」
Cash and deposits increased by ¥1,660.188 million from the end of the previous fiscal year, and the company raised ¥619.736 million through the exercise of stock acquisition rights and ¥3 billion through a third-party allotment of shares. The company stated that concerns about cash flow, including reliance on overdrafts and other facilities, had thereby been resolved. - FY2024-Q1Cash increased, but consultations on extending overdraft terms continueAnnual report
「Cash and deposits at the end of the first quarter of the current consolidated fiscal year were ¥1,250.710 million, an increase of ¥422.801 million from the end of the previous consolidated fiscal year. The term of overdraft agreements and other facilities totaling ¥1,799 million expires at the end of August 2023, but we are consulting with our banks to obtain continued support and believe that an extension of the term is highly likely.」
Cash and deposits increased by ¥422.801 million from the end of the previous fiscal year, while consultations continued on extending the term of overdraft agreements and other facilities totaling ¥1,799 million. Although the company's financial position showed some improvement, material uncertainty regarding the going concern assumption remained. - FY2023WorsenedAnnual report
「Cash and deposits at the end of the current consolidated fiscal year were ¥827.908 million, down ¥1,990.959 million from the end of the previous consolidated fiscal year. The term of overdraft agreements and other facilities totaling ¥1,799 million expires at the end of August 2023, but we are consulting with our banks to obtain continued support and believe that an extension of the term is highly likely.」
Cash and deposits declined by ¥1,990.959 million from the end of the previous fiscal year, and the company is consulting with financial institutions regarding an extension of the term of overdraft agreements and other facilities. Although measures to secure funds continue, material uncertainty remains regarding liquidity risk and the going concern assumption. - FY2023-Q3WorsenedAnnual report
「Cash and deposits at the end of the third quarter of the current consolidated fiscal year were ¥1,034.190 million, down ¥1,784.677 million from the end of the previous consolidated fiscal year. The term of overdraft agreements and other facilities totaling ¥1,799 million expires at the end of February 2023, but we are consulting with our banks to obtain continued support and believe that an extension of the term is highly likely.」
Cash and deposits declined by ¥1,784.677 million from the end of the previous consolidated fiscal year, while the expiration at the end of February 2023 of overdraft agreements and other facilities was approaching and consultations with financial institutions regarding continued support and an extension continued. - FY2023-Q2WorsenedAnnual report
「Cash and deposits at the end of the second quarter of the current consolidated fiscal year were ¥1,253.935 million, down ¥1,564.932 million from the end of the previous consolidated fiscal year, including ¥500 million in time deposits pledged as collateral. Although our relationship with our main banks has traditionally been good, we are consulting with them to obtain continued support regarding overdraft agreements and other facilities totaling ¥2,299 million, as their renewal periods are short.」
Cash and deposits declined by ¥1,564.932 million from the end of the previous consolidated fiscal year to ¥1,253.935 million, including pledged time deposits. Consultations with financial institutions regarding continued support for overdraft agreements and other facilities are also continuing. - FY2023-Q1WorsenedAnnual report
「Cash and deposits at the end of the first quarter of the current consolidated fiscal year were ¥2,389.075 million, down ¥429.792 million from the end of the previous consolidated fiscal year. Although our relationship with our main banks has traditionally been good, we are consulting with them to obtain continued support regarding overdraft agreements and other facilities totaling ¥3,800 million, as their renewal periods are short.」
Cash and deposits declined by ¥429.792 million from the end of the previous fiscal year, and the company is consulting with financial institutions regarding the renewal of overdraft agreements and other facilities and continued support. Although measures to secure funds are being pursued, material uncertainty regarding the going concern assumption has been recognized. - FY2022WorsenedAnnual report
「By implementing the measures described above, we will seek to stabilize the business and financial conditions and resolve or improve the situation. However, because these measures and other responses are still being implemented, material uncertainty regarding the going concern assumption exists at present.」
While the company is pursuing cash flow measures such as cost reductions, a third-party allotment of shares and consultations with financial institutions, material uncertainty regarding the going concern assumption continues to be recognized due to negative net worth and violations of financial covenants. - FY2022-Q3WorsenedAnnual report
「As our group has continued to record substantial operating losses and net losses attributable to owners of the parent since the previous consolidated fiscal year, events or conditions exist that raise substantial doubt about the going concern assumption.」
While liquidity measures continue, the company newly stated that the continuation of losses has created events or conditions that raise substantial doubt about the going concern assumption. - FY2022-Q2MitigatedAnnual report
「Net cash provided by financing activities in the cumulative second quarter of the current consolidated fiscal year was ¥812.796 million, including ¥812.580 million of proceeds from the issuance of shares through the exercise of stock acquisition rights, compared with ¥3,001.294 million in the same period of the previous year.」
Net cash provided by financing activities was ¥812.796 million, including ¥812.580 million of cash inflow from the exercise of stock acquisition rights. Cash used in operating activities also decreased to ¥435.438 million from ¥2,400.381 million in the same period of the previous year, and cash and cash equivalents increased to ¥3,714.871 million. - FY2022-Q1MitigatedAnnual report
「Based on a funding plan that assumes a prolonged impact from COVID-19, our group has established a framework to secure business funds by reducing fixed costs, consulting with financial institutions, and allotting and exercising stock acquisition rights for third parties. We have determined that no material uncertainty exists regarding the going concern assumption because these measures continue to be implemented, and therefore have not included a note on the going concern assumption.」
The company has established a framework to secure business funds by reducing fixed costs, consulting with financial institutions, and allotting and exercising stock acquisition rights for third parties. It has determined that no material uncertainty exists regarding the going concern assumption. - FY2021WorsenedAnnual report
「At the end of the consolidated fiscal year ending March 2021, the balance of interest-bearing debt of our group was ¥4,200 million, an increase of ¥3,500 million from the end of the previous consolidated fiscal year. The equity ratio also fell by 20.1 percentage points from the end of the previous consolidated fiscal year to 8.8%.」
As travel demand fell sharply, interest-bearing debt increased by ¥3,500 million and the equity ratio declined to 8.8%. The company's reliance on borrowings to secure liquidity increased further. - FY2021-Q3RestatedAnnual report
「Current liabilities were ¥4,237.127 million, an increase of ¥554.741 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥3,000 million increase in short-term borrowings, despite decreases of ¥994.189 million in deposits received, ¥771.573 million in travel advance receipts, ¥468.652 million in other accounts payable and ¥195.854 million in accounts payable from the end of the previous consolidated fiscal year.」
Short-term borrowings remained ¥3 billion higher than at the end of the previous consolidated fiscal year, while the decline in deposits received and travel advance receipts and the use of borrowings to secure liquidity continued to be evident. - FY2021-Q2WorsenedAnnual report
「Current liabilities at the end of the second quarter of the current consolidated fiscal year were ¥4,165.583 million, an increase of ¥483.197 million from the end of the previous consolidated fiscal year. This was mainly due to a ¥3,000 million increase in short-term borrowings, despite decreases of ¥1,084.386 million in deposits received, ¥730.726 million in travel advance receipts, ¥447.938 million in other accounts payable and ¥218.769 million in accounts payable from the end of the previous consolidated fiscal year.」
While deposits received and travel advance receipts continued to decline due to the sharp drop in travel demand, short-term borrowings increased by ¥3 billion from the end of the fiscal year, further increasing reliance on borrowings to secure liquidity. - FY2021-Q1WorsenedAnnual report
「Short-term borrowings increased by ¥1.2 billion from the end of the previous consolidated fiscal year, while deposits received declined by ¥946.032 million and travel advance receipts declined by ¥695.898 million from the end of the previous consolidated fiscal year.」
Against a backdrop of the sharp decline in travel demand and decreases in deposits received and travel advance receipts, short-term borrowings increased by ¥1.2 billion. In addition, a ¥1.3 billion borrowing was executed in August in preparation for refunds arising from travel cancellations and cancellations of scheduled tours. - FY2020MaterialisedAnnual report
「As the timing of a recovery cannot currently be foreseen, we will secure the working capital required for the business by obtaining financing and curbing expenditures in preparation for a prolonged situation. In March 2020, we decided to use ¥2.3 billion in existing commitment lines and overdraft facilities and drew short-term loans of ¥400 million from Resona Bank, Ltd. and ¥300 million from Sumitomo Mitsui Banking Corporation.」
The sharp decline in travel demand brought cash flow management measures into the implementation stage, including the decision to use ¥2.3 billion in commitment lines and other facilities and the execution of ¥700 million in short-term borrowings. In addition, the company disclosed the subsequent execution of ¥2.5 billion in borrowings as a subsequent event. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
No significant changes were identified regarding liquidity risk associated with financing. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
No significant changes were identified regarding liquidity risk associated with financing. - FY2020-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
No significant changes were identified regarding liquidity risk associated with financing. - FY2019First statedAnnual report
「Regarding liquidity risk associated with financing, we seek to mitigate the risk by preparing and updating cash flow plans in a timely manner.」
The company newly identified liquidity risk associated with financing and described the preparation and updating of cash flow plans as a countermeasure.