Financial Covenants on Syndicated Loans and Interest Rate Hike Risk
First written in FY2022-Q3. 2 of 14 entries say "Restated". Latest entry: FY2026.
18 other companies' latest entry also says "Advanced".
- FY2026AdvancedAnnual report
「Regarding liquidity, the Company has entered into a term-out commitment line agreement, with the Company as borrower, to secure stable and flexible working capital financing. The lending limit is ¥2.7 billion, and the drawn balance was ¥1.6 billion and the undrawn amount ¥1.1 billion at the end of the consolidated fiscal year.」
The previous ¥2.9 billion agreement was terminated and a new ¥2.7 billion agreement was entered into on 24 February 2026. The drawn balance at period-end was ¥1.6 billion, with ¥1.1 billion undrawn. - 2026-05-14AchievedEarnings
「The ¥2.9 billion term-out commitment line agreement arranged by The Bank of Nagoya and entered into on 24 February 2023 ended on 27 February 2026.」
The termination of the former syndicated loan agreement was confirmed as completed, and the planned switch to a new agreement was completed. - FY2026-H1ReframedAnnual report
「At a meeting of the Board of Directors held on 13 February 2026, the Company resolved to enter into a syndicated loan agreement to secure stable and flexible working capital financing.」
The Company plans to terminate the ¥2.9 billion agreement entered into on 24 February 2023 on 27 February 2026 and switch to a new agreement with an arranged amount of ¥2.7 billion and a commitment period from 27 February 2026 to 28 February 2029. - FY2025Decrease in Drawn AmountsAnnual report
「Drawn balance at the end of the consolidated fiscal year: ¥1.45 billion; undrawn amount: ¥1.45 billion.」
The drawn balance under the syndicated loan decreased from ¥1.75 billion in the previous interim period to ¥1.45 billion. The breach of the financial covenants and the resulting increase in interest rates, which occurred in the fiscal year ended June 2024, continue to be disclosed. - FY2025-H1MaterialisedAnnual report
「The agreement contains the following financial covenants, and as they were breached during the interim consolidated accounting period, only an increase in interest rates occurred.」
A breach of the financial covenants actually occurred, resulting in higher interest rates. The drawn balance under the syndicated loan was ¥1.75 billion. - FY2024-Q3Increase in drawn balanceAnnual report
「Syndicated loan facility: ¥2,900,000 thousand; drawn balance: ¥1,400,000 thousand; undrawn amount: ¥1,500,000 thousand.」
The drawn balance under the term-out commitment line increased from ¥1.1 billion at the end of the previous quarter to ¥1.4 billion, leaving ¥1.5 billion undrawn. The financial covenants and the provision for higher interest rates upon breach continue to be disclosed. - FY2024-Q2Increase in drawn balanceAnnual report
「The Company has entered into a term-out commitment line agreement with a lending limit of ¥2.9 billion. The drawn balance was ¥1.1 billion at the end of the quarter, leaving ¥1.8 billion undrawn.」
The drawn balance under the term-out commitment line increased from ¥700 million at the end of the previous quarter to ¥1.1 billion. - FY2024-Q1Increase in drawn balanceAnnual report
「The Company entered into a term-out commitment line agreement, with a lending limit of ¥2.9 billion, on 24 February 2023, and the drawn balance was ¥700 million at the end of the quarter.」
The drawn balance under the new agreement increased from zero at the end of the previous fiscal year to ¥700 million. The financial covenants and liquidity measures continue to be disclosed. - FY2023RestatedAnnual report
「The Company entered into a syndicated loan agreement on 24 February 2023 to secure stable and flexible working capital financing.」
The Company continues to disclose the new agreement, with an arranged amount of ¥2.9 billion and a commitment period from 28 February 2023 to 27 February 2026, together with the financial covenants. - FY2023-Q3AdvancedAnnual report
「The Company entered into a syndicated loan agreement on 24 February 2023 to secure stable and flexible working capital financing.」
The disclosure states that, following termination of the previous agreement, a new ¥2.9 billion term-out commitment line agreement was actually entered into on 24 February 2023. - FY2023-Q2ReframedAnnual report
「At a Board of Directors meeting held on 13 February 2023, the company resolved to enter into a new term-out commitment line agreement replacing the above agreement.」
The company resolved to enter into a new agreement replacing the existing syndicated loan agreement. The new agreement has an amount of ¥2.9 billion, a commitment period from 28 February 2023 to 27 February 2026, and a final repayment date at the end of February 2029. - FY2023-Q1Outstanding borrowings incurredAnnual report
「Syndicated loan commitment amount: ¥3,500,000 thousand; drawn amount: ¥200,000 thousand; undrawn amount: ¥3,300,000 thousand」
The drawn amount under the syndicated loan increased from ¥0 at the end of the previous consolidated fiscal year to ¥200 million. The company continues to disclose the financial covenants and the interest-rate increase applicable in the event of a breach. - FY2022RestatedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased. The undrawn amount under these agreements is as follows.」
The company continues to disclose covenants including maintaining net assets at 75% or more, avoiding losses for 2 consecutive fiscal years, keeping borrowings and similar liabilities at ¥3.8 billion or less, and keeping the effective debt multiple at 10 or less, together with the undrawn amount. - FY2022-Q3First statedAnnual report
「If any of the above financial covenants is breached, the interest rate will be increased.」
The company discloses financial covenants including maintaining net assets at 75% or more, avoiding losses on ordinary income before amortization for 2 consecutive fiscal years, keeping borrowings and similar liabilities at ¥3.8 billion or less, and keeping the effective debt multiple at 10 or less. Drawn borrowings were ¥0, and the commitment amount was ¥3.5 billion.