Financial Covenants Attached to Borrowing Agreements
First written in FY2017. 3 of 6 entries say "Restated". Latest entry: FY2025.
- FY2025RestatedAnnual report
「Of the long-term borrowings, ¥12 billion under the syndicated loan agreement dated 15 March 2017 is subject to the following financial covenants.」
Financial covenants continue to be disclosed, including requirements to maintain net assets at 75% or more of the previous fiscal year-end level and not to report ordinary losses for 2 consecutive periods. - FY2024RestatedAnnual report
「Of the long-term borrowings, ¥12 billion under the syndicated loan agreement dated 15 March 2017 is subject to the following financial covenants.」
Financial covenants for multiple syndicated loans continue to be disclosed, including requirements to maintain net assets at 75% or more of the previous fiscal year-end level and not to report ordinary losses for 2 consecutive periods. - FY2021RestatedAnnual report
「Of the long-term borrowings, ¥12 billion under the syndicated loan agreement dated 15 March 2017 is subject to the following financial covenants.」
Financial covenants for multiple syndicated loans continue to be disclosed, including requirements to maintain net assets at 75% or more of the previous fiscal year-end level and not to report ordinary losses for 2 consecutive periods. - FY2020WorsenedAnnual report
「Of the long-term borrowings, ¥11.45 billion under the syndicated loan agreement dated 18 March 2019 is subject to the following financial covenants.」
Multiple syndicated loans are subject to financial covenants, including requirements to maintain net assets at 75% or more of the previous fiscal year-end level and not to report ordinary losses for 2 consecutive periods. The number of agreements subject to such covenants has increased along with the rise in long-term borrowings. - FY2018WorsenedAnnual report
「The outstanding balance of borrowings under the syndicated loan agreement at the end of the current consolidated fiscal year was as follows. Long-term borrowings: ¥12,000 million The syndicated loan agreement contains the following financial covenants. ① From the fiscal year ending February 2018 onward, maintain consolidated net assets at the end of each fiscal year at no less than 75% of consolidated net assets at the end of the immediately preceding fiscal year.」
In addition to the existing commitment agreement, the syndicated loan with an outstanding balance of ¥12 billion is subject to financial covenants, including a requirement to maintain net assets at 75% or more of the previous fiscal year-end level. - FY2017First statedAnnual report
「For the fiscal years ended February 2016 and February 2017, maintain consolidated net assets at the end of each fiscal year at no less than 70% of consolidated net assets at the end of the immediately preceding fiscal year.」
The loan commitment agreement contains financial covenants requiring net assets to be maintained at no less than 70% of the amount at the end of the immediately preceding fiscal year and prohibiting operating losses for 2 consecutive fiscal years, among other requirements.