Financial Covenants Requiring Maintenance of Net Assets and Avoidance of Ordinary Losses
First written in FY2017-Q1. 2 of 4 entries say "Restated". Latest entry: FY2019.
- FY2019MitigatedAnnual report
「The Company became debt-free after repaying ¥350 million in short-term borrowings and ¥251 million in long-term borrowings.」
For borrowings subject to financial covenants, the Company has disclosed repayment of the outstanding borrowings and the achievement of a debt-free position, indicating a change in its exposure to those borrowings. - FY2018RestatedAnnual report
「The Company has undertaken not to record ordinary losses for 2 consecutive fiscal years in the non-consolidated income statement for each fiscal year ending on or after the date of execution of this agreement.」
The financial covenant 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 remains in effect. - FY2017RestatedAnnual report
「The Company has undertaken to maintain, at the end of each fiscal year, the amount of net assets in the non-consolidated balance sheet at or above 75% of the higher of the amount of net assets in the balance sheet at the end of the immediately preceding fiscal year or at the end of the fiscal year ending March 2015. The Company has also undertaken not to record ordinary losses for 2 consecutive fiscal years in the non-consolidated income statement for each fiscal year.」
The 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 remain in effect. - FY2017-Q1First statedAnnual report
「The Company has undertaken to maintain, at the end of each fiscal year, the amount of net assets in the non-consolidated balance sheet at or above 75% of the higher of the amount of net assets in the balance sheet at the end of the immediately preceding fiscal year or at the end of the fiscal year ending March 2015. The Company has also undertaken not to record ordinary losses for 2 consecutive fiscal years in the non-consolidated income statement for each fiscal year.」
Under the borrowing agreement, the Company has undertaken to maintain net assets at 75% or more of the reference amount at each fiscal year-end and not to record ordinary losses for 2 consecutive fiscal years.