Financial Covenants under the Syndicated Loan
First written in FY2016. 4 of 7 entries say "Restated". Latest entry: FY2018.
- FY2018DroppedAnnual report
「For the consolidated fiscal year ended 31 March 2018, there were no applicable matters.」
The company stated that there were no applicable matters in the current fiscal year regarding the syndicated loan's financial covenants, which had been disclosed through the previous fiscal year. - FY2018-Q1MitigatedAnnual report
「reducing interest expense by applying proceeds from the business transfer to the early repayment of the syndicated loan」
It is disclosed that proceeds from the business transfer were applied to the early repayment of the syndicated loan, reducing interest expense. - FY2017RestatedAnnual report
「The total amount of net assets in the consolidated balance sheet as of the end of the fiscal year ending March 2014 and each subsequent fiscal year-end must be maintained at or above the higher of (i) 70% of the total amount of net assets in the consolidated balance sheet as of the end of the fiscal year ended March 2013, or (ii) 70% of the total amount of net assets in the consolidated balance sheet as of the end of the most recent fiscal year.」
The covenant requiring net assets to be maintained at 70%, the covenant prohibiting ordinary losses for two consecutive fiscal years, and the possibility of an interest rate increase or loss of the benefit of time for repayment in the event of a breach continue. - FY2017-Q3RestatedAnnual report
「If any of the following covenants is breached, the interest rate on the obligations under the relevant agreement may be increased, and the borrower may lose the benefit of time for repayment, among other consequences. The syndicated loan entered into on 26 September 2013 contains the following covenants.」
The same requirements continue: net assets must be maintained above the reference amount, ordinary losses must not be reported for two consecutive fiscal years, and a breach may result in an interest rate increase or loss of the benefit of time for repayment. - FY2017-Q2RestatedAnnual report
「If any of the following covenants is breached, the interest rate on the obligations under the relevant agreement may be increased, and the borrower may lose the benefit of time for repayment, among other consequences. The syndicated loan agreement entered into on 26 September 2013 contains the following covenants.」
The financial covenants requiring net assets to be maintained above a specified level and prohibiting ordinary losses for two consecutive fiscal years continue unchanged. - FY2017-Q1RestatedAnnual report
「If any of the following covenants is breached, the interest rate on the obligations under the relevant agreement may be increased, and the borrower may lose the benefit of time for repayment, among other consequences.」
The financial covenants requiring net assets to be maintained above a specified level and prohibiting ordinary losses for two consecutive fiscal years continue to be disclosed. - FY2016First statedAnnual report
「The financial covenants include requirements not to report an ordinary loss for two consecutive fiscal year-ends and to maintain consolidated net assets above a specified level, among other provisions.」
A covenant requiring net assets to be maintained at or above 70% of the amount at the end of the fiscal year ended March 2013 or the most recent fiscal year-end is disclosed.