Funding and Liquidity Risk from Breaches of Financial Covenants
First written in FY2021. 4 of 5 entries say "Mitigated", first in FY2022-Q3. Latest entry: FY2026.
The whole theme swung hardest in 2017: 8 of 54 companies on the "Worse" side.
52 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「The company was not in breach of the above financial covenants as of the end of the current consolidated fiscal year.」
Regarding the previously disclosed breach of financial covenants, the company explains that it was not in breach as of the end of the current fiscal year either. - FY2025MitigatedAnnual report
「The company was not in breach of the above financial covenants as of the end of the current consolidated fiscal year.」
Regarding the previously disclosed breach of financial covenants, the company explains that it was not in breach as of the end of the current consolidated fiscal year. - FY2024MitigatedAnnual report
「The company was not in breach of the above financial covenants as of the end of the current consolidated fiscal year.」
Regarding the breach of financial covenants disclosed in the previous fiscal year, the company states that it was not in breach as of the end of the current fiscal year, indicating that the risk has eased. - FY2022-Q3MitigatedAnnual report
「The company has maintained good relationships with its financial institutions, including by renewing its syndicated commitment line agreement with domestic financial institutions, and has determined that there are no concerns about funding for the foreseeable future, including the following consolidated fiscal year.」
Regarding the risk of breaching financial covenants disclosed in the previous fiscal year, the company explains that there are no concerns about funding for the foreseeable future, based on the renewal of its commitment line agreement and its continued relationships with financial institutions. - FY2021First statedAnnual report
「Although the company was in breach of the above financial covenants at the end of the current consolidated fiscal year, it is in discussions with its financial institutions regarding the extension and renewal of the relevant agreement.」
The company has newly disclosed breaches of financial covenants relating to the ¥4,600 million total commitment lines and the ¥4,286 million in borrowings of 佐世保重工業.