Securing Working Capital Funding Capacity through Overdraft Agreements
First written in FY2017-Q1. 8 of 16 entries say "Restated". Latest entry: FY2023.
- FY2023SoftenedAnnual report
「Total overdraft limit: ¥1,050 million; outstanding borrowings: ¥0 million; balance: ¥1,050 million」
The overdraft agreements remain in place and outstanding borrowings remain at zero, but the total overdraft limit has decreased from ¥1,250 million in the previous fiscal year to ¥1,050 million. - FY2021SoftenedAnnual report
「The company and its consolidated subsidiaries (スリーエフ・オンライン株式会社 and 株式会社エル・ティーエフ) have entered into overdraft agreements with 6 transaction banks to obtain working capital efficiently. The undrawn borrowing capacity under these agreements at the end of the fiscal year was as follows.」
The overdraft agreements remain in place and there are no outstanding borrowings, while the total overdraft limit remains at ¥1,250 million, the same as in the previous fiscal year, down from the historical level of ¥3,350 million. - FY2020-Q3RestatedAnnual report
「In addition, as we have received consideration from Lawson under the business integration agreement and absorption-type company split agreement entered into with Lawson, Inc., there are no funding concerns.」
The company has already received the consideration based on the business integration and absorption-type company split with Lawson and continues to explain that there are no funding concerns. - FY2020-Q2RestatedAnnual report
「In addition, as we have received consideration from Lawson under the business integration agreement and absorption-type company split agreement entered into with Lawson, Inc., there are no funding concerns.」
The explanation that consideration under the business integration and absorption-type company split agreements has already been received from Lawson and that there are no funding concerns is continuing. - FY2020-Q1RestatedAnnual report
「In addition, as we have received consideration from Lawson under the business integration agreement and absorption-type company split agreement entered into with Lawson, Inc., there are no funding concerns.」
The explanation that consideration under the business integration and absorption-type company split agreements with Lawson has already been received and that there are no funding concerns has been reiterated. - FY2019SoftenedAnnual report
「Total overdraft limit ¥3,350 million Drawn borrowings —¥0 million Available balance ¥3,350 million」
The overdraft agreement remains in place and there are no drawn borrowings, but the overdraft limit decreased from ¥5,100 million in the previous fiscal year to ¥3,350 million. - FY2019-Q3RestatedAnnual report
「However, as we have received consideration from Lawson, Inc. under the business integration agreement and absorption-type company split agreement entered into with Lawson, Inc., we believe that there are no funding concerns.」
The explanation that consideration under the business integration and absorption-type company split agreements has already been received from Lawson and that there are no funding concerns has been reiterated. - FY2019-Q2RestatedAnnual report
「However, as we have received consideration from Lawson, Inc. under the business integration agreement and absorption-type company split agreement entered into with Lawson, Inc., we believe that there are no funding concerns.」
The explanation that consideration under the business integration and absorption-type company split agreements has already been received from Lawson and that there are no funding concerns has been reiterated. - FY2019-Q1AdvancedAnnual report
「However, as we have received consideration from Lawson, Inc. under the business integration agreement and absorption-type company split agreement entered into with Lawson, Inc., we believe that there are no funding concerns.」
The company explicitly states that consideration under the business integration and absorption-type company split agreements has already been received from Lawson. - FY2018SoftenedAnnual report
「Total overdraft limit: ¥5,100 million; Drawn borrowings: —¥0 million; Available balance: ¥5,100 million」
The overdraft agreements remain in place and there are no drawn borrowings, but the total overdraft limit has decreased from ¥5,650 million in the previous fiscal year to ¥5,100 million. The explanation addressing the going-concern assumption is now centered on consideration received from Lawson for the business separation and share transfer. - FY2018-Q3RestatedAnnual report
「However, under the business integration agreement and absorption-type company split agreement entered into with Lawson, Inc., we expect to receive certain consideration in connection with the conversion of 281 stores operating under the Three F, q’s mart and gooz brands into dual-branded stores bearing the name Lawson Three F, through the transfer to Lawson, Inc. of certain assets and rights and obligations held by our company at the relevant stores. Accordingly, we believe that there are no funding concerns.」
The explanation that there are no funding concerns has been reiterated, centered on the expected receipt of certain consideration from Lawson in connection with the business integration and absorption-type company split involving 281 stores. - FY2018-Q1ReframedAnnual report
「However, under the business integration agreement and absorption-type company split agreement entered into with Lawson, 281 of the stores operating under the “Three F,” “q’s mart” and “gooz” brands will be converted to the dual-brand “Lawson-Three F.” Because the Company expects to receive consideration by transferring to Lawson some of the assets, rights and obligations it holds at the target stores, it believes that it will face no funding difficulties.」
The explanation that there are no funding concerns has shifted from the availability of overdraft and borrowing facilities to an explanation centered on expected consideration from Lawson in connection with the business integration and absorption-type company split. - FY2017RestatedAnnual report
「Our company and its consolidated subsidiaries, Three F Online Co., Ltd. and LTF Co., Ltd., have entered into overdraft agreements with 9 banks to efficiently procure working capital.」
The explanation that working capital and business funds are secured through overdraft agreements and ¥1,800 million in long-term borrowings remains unchanged. The total overdraft limit is ¥5,650 million. - FY2017-Q3RestatedAnnual report
「However, we have entered into overdraft agreements with our principal banks to efficiently procure working capital and secured sufficient credit facilities. In addition, we have entered into a syndicated loan agreement and obtained sufficient financing, and therefore believe that there are no funding concerns.」
The explanation that there are no funding concerns remains unchanged, based on the availability of working capital and financing through overdraft and syndicated loan agreements. - FY2017-Q2AdvancedAnnual report
「Overview of syndicated loan agreement: (1) Loan amount: ¥1,800 million; (4) Term: 5 years (final maturity: 31 August 2021)」
In addition to the existing overdraft agreements, the company entered into a syndicated loan agreement on 26 August 2016 to finance its turnaround strategy, with a loan amount of ¥1,800 million and a 5-year term. - FY2017-Q1First statedAnnual report
「However, we have entered into overdraft agreements with our principal banks to efficiently procure working capital and have secured sufficient credit facilities. Accordingly, we believe that there are no funding concerns.」
As a response to uncertainties regarding the going-concern assumption, the company explains that working-capital facilities have been secured through overdraft agreements with its principal banks.