Risk of Acceleration Under a Syndicated Loan with Financial Covenants
First written in FY2025. 1 of 3 entries say "Restated". Latest entry: 2026-08-28.
18 other companies' latest entry also says "Advanced".
- 2026-08-28AdvancedOccurring Fact
「(1) At the end of each fiscal year, consolidated net assets shown on the consolidated balance sheet must be maintained at 75% or more of the higher of net assets at the end of the immediately preceding period or net assets for the fiscal year ended March 2026. (2) Ordinary profit or loss shown in the consolidated income statement for each fiscal year must not be a loss for 2 consecutive periods.」
The new ¥13.0 billion commitment line includes financial covenants requiring maintenance of net assets and prohibiting ordinary losses for 2 consecutive periods. - FY2026RestatedAnnual report
「Balance of liabilities under the loan agreement at fiscal year-end: ¥3,000 million Contract expiration: 30 March 2027” ① Maintain the amount of net assets in the net assets section of the consolidated balance sheet at each fiscal year-end at ... 75% or more. ② Do not record ordinary losses for 2 consecutive fiscal years in the consolidated income statement.」
The company reconfirmed the terms of the syndicated loan entered into on 25 March 2025, including a fiscal year-end balance of ¥3,000 million, a contract expiration date of 30 March 2027, and financial covenants requiring the maintenance of net assets and prohibiting ordinary losses for 2 consecutive fiscal years. - FY2025First statedAnnual report
「① Maintain the amount of net assets in the net assets section of the consolidated balance sheet at each fiscal year-end at 75% or more of the higher of the amount of net assets in the net assets section of the consolidated balance sheet at the end of the immediately preceding fiscal year or at the end of the fiscal year ended March 2024. ② Do not record ordinary losses for 2 consecutive fiscal years.」
The ¥1,300 million syndicated loan entered into on 25 March 2025 is subject to financial covenants requiring the company to maintain net assets at 75% or more of the reference amount and not to record ordinary losses for 2 consecutive fiscal years.