Risk of Deterioration in the Financing Environment
First written in FY2020. 2 of 7 entries say "Advanced", first in FY2023-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2023: 9 of 38 companies on the "Worse" side.
2 other companies' latest entry also says "Other".
- FY2026Shift from a Commitment Line to a Term-Loan-Centered StructureAnnual report
「We have entered into a term loan agreement with 6 relationship banks, with The Daishi Hokuetsu Bank, Ltd. as arranger and Sumitomo Mitsui Banking Corporation as co-arranger. The agreement and financial covenants are as follows. Syndicated term loan agreement Drawn balance ¥200 million」
The disclosure has changed from the previous fiscal year's fully drawn commitment line to a syndicated term loan agreement with a drawn balance of ¥200 million in the current fiscal year. It states that there was no breach of any financial covenants. - FY2025Full drawdown of the commitment lineAnnual report
「Total commitment line: ¥1,500 million; drawn balance: ¥1,500 million; undrawn balance: —」
Under the syndicated commitment line, the company fully drew down the total ¥1,500 million during the current fiscal year, compared with a drawn balance of ¥700 million and an undrawn balance of ¥800 million in the previous fiscal year. It states that there was no breach of any financial covenants. - FY2023-Q3AdvancedAnnual report
「Through drawdowns under the commitment line based on the syndicated loan agreement entered into in February last year and refinancing into a term loan, short-term borrowings increased by ¥500 million, current portion of long-term borrowings decreased by ¥960 million, and long-term borrowings increased by ¥747 million.」
The company is proceeding with drawdowns under the commitment line based on the syndicated loan agreement and refinancing into a term loan, changing its borrowing structure. - FY2023-Q1AdvancedAnnual report
「Through drawdowns under the commitment line based on the syndicated loan agreement entered into in February 2022 and refinancing into a term loan, short-term borrowings increased by ¥200 million, current portion of long-term borrowings decreased by ¥960 million, and long-term borrowings increased by ¥862 million.」
The company has drawn down under the commitment line based on the syndicated loan agreement and refinanced into a term loan, changing its borrowing structure. - FY2022MitigatedAnnual report
「During the consolidated fiscal year, we entered into a syndicated loan agreement totaling ¥2,500 million with the participation of 6 relationship banks. This will enable us to raise funds flexibly for various strategic investments to implement our future growth strategy, while consolidating the financing terms and administrative contact point for funding from multiple financial institutions, allowing us to secure financing stably and efficiently.」
The company states that it entered into a syndicated loan agreement totaling ¥2.5 billion with the participation of 6 banks, securing flexible and stable financing capacity for growth investments. - FY2021RestatedAnnual report
「If the financing environment deteriorates due to instability in the financial markets or other factors, and the Group is affected by constraints on financing or higher financing costs, this may adversely affect its results of operations and financial condition.」
The company continues to identify the risks of financing constraints and higher financing costs due to instability in the financial markets. It specifies improved profitability, working-capital reduction, the sale of non-core assets, and the maintenance of cash and other liquidity as countermeasures. - FY2020First statedAnnual report
「If the financing environment deteriorates due to instability in the financial markets or other factors, and the Group is affected by constraints on financing or higher financing costs, this may adversely affect its results of operations and financial condition.」
The company states that, with borrowings as its principal source of funding, instability in the financial markets may constrain financing and increase financing costs.