Financial covenants under the syndicated loan
First written in FY2021. 2 of 5 entries say "Restated". Latest entry: 2026-06-03.
- 2026-06-03RestatedGeneral Meetings of Shareholders
「The long-term borrowings of ¥1,600,000 thousand, including ¥200,000 thousand repayable within one year, under the syndicated loan agreement dated 27 December 2022, are subject to the following financial covenants.」
Reiterated the existence of financial covenants attached to the syndicated loan. The covenants require maintenance of net assets and that ordinary profit or loss not be a loss for two consecutive fiscal years. - FY2024Old syndicated loan matured; new agreement remains in effectAnnual report
「The term-loan syndicated loan agreement entered into on 28 March 2019, with (株)広島銀行 acting as agent, expired at the end of its contractual term on 31 March 2024.」
The old agreement expired on 31 March 2024, while the ¥2,000 million syndicated loan for the completed sewing factory building entered into in December 2022 and its financial covenants remain in effect. - FY2023RestatedAnnual report
「The company was not in breach of any financial covenants as of the fiscal year-end. However, unforeseen fluctuations in performance could result in a breach of the financial covenants, causing the company to lose the benefit of its repayment terms and requiring repayment before maturity, which could affect its performance and financial position.」
Both the existing borrowings and the syndicated loan for the completed sewing factory building are subject to financial covenants, and the company was not in breach of them as of the fiscal year-end. - FY2023-Q3WorsenedAnnual report
「The company entered into a term-loan syndicated loan agreement on 27 December 2022, with (株)広島銀行 acting as agent, to finance construction of a completed sewing factory building scheduled to begin operations in January 2024. The agreement includes certain financial covenants.」
The company entered into a new syndicated loan agreement to finance construction of the completed sewing factory building, increasing its borrowings subject to financial covenants. It was not in breach of the covenants as of the end of the third quarter. - FY2021First statedAnnual report
「The company was not in breach of any financial covenants as of the end of the fiscal year. However, unforeseen fluctuations in performance could result in a breach of the financial covenants, causing the company to lose the benefit of its repayment terms and requiring repayment before maturity, which could affect its performance and financial position.」
The company has covenants relating to the maintenance of net assets and the avoidance of consecutive ordinary losses, but was not in breach of them as of the fiscal year-end.