Handling Borrowings and Financial Covenants
First written in FY2016. 4 of 9 entries say "Restated". Latest entry: FY2026.
Sanoyas Holdings moved to the "Worse" side of this theme in 2026, 3 years after the typical company in this theme (2023).
5 other companies' latest entry also says "Reframed".
- FY2026Financial covenants added to the new syndicated loan and commitment lineAnnual report
「The syndicated loan agreements and commitment line agreements entered into by the Company contain the following financial covenants. If these covenants are breached, the Company may be required to repay part of the relevant borrowings.」
After the financial covenants for the former syndicated loan expired following the transfer of the shipbuilding business, it disclosed new covenants for the syndicated loan in July 2025 and the commitment line in October 2025, requiring net assets to be maintained at 75% or more and prohibiting ordinary losses for 2 consecutive periods. - FY2021AchievedAnnual report
「As the borrower, Sanoyas Shipbuilding, was transferred to 新来島どっく on 28 February 2021, this syndicated loan is no longer a Group debt.」
The syndicated loan and the related financial covenants of the Group expired as a result of the transfer of the shipbuilding business. - FY2021-Q3MitigatedAnnual report
「As the borrower, Sanoyas Shipbuilding, will become a subsidiary of 新来島どっく on 28 February 2021, this syndicated loan will cease to be a debt of the Group. Accordingly, the Group's financial covenants will cease to exist as of that date.」
In connection with the transfer of the shipbuilding business, the syndicated loan will cease to be a Group debt, and the financial covenants are expected to expire on 28 February 2021. - FY2020-Q2RestatedAnnual report
「Maintain, at each fiscal year-end, the amount calculated by deducting valuation differences on other securities and deferred hedge gains or losses from the borrower's net assets at no less than 50% of the net assets at the end of the most recent fiscal year.」
It continues to disclose a financial covenant for the syndicated loan refinanced on 31 October 2018 requiring net assets to be maintained at no less than 50% of the level at the end of the most recent fiscal year. - FY2020-Q1RestatedAnnual report
「Maintain, at each fiscal year-end, the amount calculated by deducting valuation differences on other securities and deferred hedge gains or losses from the borrower's net assets at no less than 50% of the net assets at the end of the most recent fiscal year.」
It continues to disclose a financial covenant for the syndicated loan refinanced on 31 October 2018 requiring net assets to be maintained at no less than 50% of the level at the end of the most recent fiscal year. - FY2019-Q3RestatedAnnual report
「Sanoyas Shipbuilding, the Company's wholly owned subsidiary, entered into a new syndicated loan agreement on 29 October 2018, with borrowings of ¥9,200 million, in relation to the existing syndicated loan agreement executed on 28 December 2015 with a repayment deadline of 30 December 2019, and refinanced the loan on 31 October 2018. As a result, the final repayment deadline became 30 December 2021, and the establishment of a tranche subject to bullet repayment at maturity reduced annual repayments. The covenants, consisting of undertakings by Sanoyas Shipbuilding and the Company, were also made flexible enough to respond to the high volatility of the future business environment.」
It reconfirms the ¥9,200 million refinancing, the extension of the repayment deadline to 30 December 2021, the reduction in annual repayments and the changes to the covenants. - FY2019-Q2MitigatedAnnual report
「Sanoyas Shipbuilding, the Company's wholly owned subsidiary, entered into a new syndicated loan agreement on 29 October 2018, with borrowings of ¥9,200 million, in relation to the syndicated loan agreement executed on 28 December 2015 with a repayment deadline of 30 December 2019, and refinanced the loan on 31 October 2018. As a result, the final repayment deadline became 30 December 2021, and the establishment of a tranche subject to bullet repayment at maturity reduced annual repayments. The covenants, consisting of undertakings by Sanoyas Shipbuilding and the Company, also took into account possible changes in the future business environment.」
The syndicated loan was refinanced for ¥9,200 million, the final repayment deadline was extended to 30 December 2021, and annual repayments were reduced through partial bullet repayment at maturity. The financial covenants were also changed to require the maintenance of at least 50% of net assets at the end of the most recent fiscal year. - FY2017RestatedAnnual report
「Maintain, at each fiscal year-end, the amount calculated by deducting valuation differences on other securities and deferred hedge gains or losses from the guarantor's consolidated net assets at ¥12,698 million or more.」
It continues to disclose a financial covenant for the syndicated loan requiring consolidated net assets of at least ¥12,698 million and a condition prohibiting ordinary losses for 2 consecutive periods. - FY2016First statedAnnual report
「Maintain, at each fiscal year-end, the amount calculated by deducting valuation differences on other securities and deferred hedge gains or losses from the guarantor's consolidated net assets at ¥12,698 million or more.」
It discloses financial covenants with numerical requirements relating to consolidated net assets and ordinary profit for syndicated loans and other borrowings.