Flexible Funding Based on Operating Cash Flow
First written in FY2016. 7 of 21 entries say "Mitigated", first in FY2023. Latest entry: FY2026.
6 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「During the consolidated fiscal year ended March 2023, the company was in breach of certain financial covenants under syndicated loan agreements with multiple financial institutions. However, after applying the proceeds from the sale of the Daikanyama assets in April 2023 to repay borrowings from financial institutions, the company secured a certain level of cash on hand and is now financially stable.」
The company continued repaying borrowings following the breach of financial covenants, reducing borrowings from financial institutions to ¥550 million, comprising both short- and long-term borrowings. It also reconfirmed its policy of maintaining cash and cash equivalents on hand at a level equivalent to at least 3 months of monthly sales. - FY2025-H1MitigatedAnnual report
「Net cash used in financing activities was ¥58 million, compared with ¥4,374 million in the same period of the previous year. This was mainly due to repayments of long-term borrowings and other factors.」
The company continued to repay long-term borrowings, reducing net cash used in financing activities to ¥58 million from ¥4,374 million in the same period of the previous year. - FY2024MitigatedAnnual report
「At the end of the consolidated fiscal year, the outstanding borrowings from financial institutions totaled ¥764 million, comprising both short- and long-term borrowings, based on their repayment schedules.」
The company repaid ¥4,291 million of borrowings using proceeds from the sale of the Daikanyama assets, reducing borrowings from financial institutions to ¥764 million, comprising both short- and long-term borrowings. It has continued its policy of maintaining cash and cash equivalents on hand at a level equivalent to approximately 3 months of monthly sales. - FY2024-Q3MitigatedAnnual report
「The decrease in liabilities was mainly due to decreases of ¥2,894 million in short-term borrowings, ¥1,406 million in current maturities of long-term borrowings, ¥705 million in deposits received, and ¥405 million in other current liabilities.」
Following repayment using proceeds from the transfer of the Daikanyama assets, short-term borrowings and current maturities of long-term borrowings continued to decline, further reducing the financing burden. - FY2024-Q2MitigatedAnnual report
「The decrease in liabilities was mainly due to decreases of ¥2,894 million in short-term borrowings, ¥1,392 million in current maturities of long-term borrowings, and ¥705 million in deposits received.」
Repayment using proceeds from the transfer of the Daikanyama assets significantly reduced short-term borrowings and current maturities of long-term borrowings. - FY2024-Q1MitigatedAnnual report
「The decrease in liabilities was mainly due to decreases of ¥2,894 million in short-term borrowings and ¥1,393 million in current maturities of long-term borrowings.」
Repayment of borrowings using proceeds from the transfer of the Daikanyama assets reduced short-term borrowings and current maturities of long-term borrowings. Together with the resolution of the breach of financial covenants, this reduced the financing burden. - FY2023MitigatedAnnual report
「On 25 April 2023, the company repaid all borrowings that were in breach of financial covenants, thereby resolving the matter. Going forward, while monitoring the business environment, including lumber market conditions, and the direction of its businesses, the company will continue to maintain its relationships with financial institutions and strive to maintain cash and cash equivalents on hand at a level equivalent to at least 3 months of monthly sales.」
In response to the breach of financial covenants, the company repaid all borrowings using proceeds from the sale of the Daikanyama assets, thereby resolving the breach. It has also continued its policy of maintaining cash and cash equivalents on hand at a level equivalent to at least 3 months of monthly sales. - FY2023-Q3Increase in Short-Term Borrowings and Repayment of Long-Term BorrowingsAnnual report
「The increase in liabilities was mainly due to an ¥1,100 million increase in short-term borrowings to cover funding needs, while accounts payable and construction-related accrued expenses decreased by ¥739 million due to lower sales, and ¥567 million of long-term borrowings was repaid.」
Short-term borrowings increased by ¥1,100 million to cover funding needs, while ¥567 million of long-term borrowings was repaid, resulting in a change in the composition of borrowings. - FY2023-Q2Increase in Short-Term Borrowings and Repayment of Long-Term BorrowingsAnnual report
「The increase in liabilities was mainly due to an ¥800 million increase in short-term borrowings to cover funding needs, while repayments of ¥383 million in long-term borrowings and decreases of ¥266 million in accounts payable and construction-related accrued expenses and ¥111 million in advances received and amounts received for uncompleted construction, due to lower sales, also contributed.」
Short-term borrowings increased by ¥800 million to cover funding needs, while ¥383 million of long-term borrowings was repaid. - FY2023-Q1Increase in short-term borrowings and decline in long-term borrowingsAnnual report
「The increase in liabilities was mainly due to an increase of ¥400 million in short-term borrowings, while accounts payable and construction-related accrued expenses decreased by ¥680 million and long-term borrowings decreased by ¥210 million.」
At the end of the first quarter, short-term borrowings increased by ¥400 million, while long-term borrowings decreased by ¥210 million and accounts payable and construction-related accrued expenses decreased by ¥680 million. Cash and deposits decreased by ¥819 million. - FY2022-Q3Update to borrowing structureAnnual report
「The increase in liabilities was mainly due to an increase of ¥677 million in long-term borrowings, while short-term borrowings decreased by ¥1,500 million.」
Short-term borrowings decreased by ¥1,500 million from the end of the previous consolidated fiscal year, while long-term borrowings increased by ¥677 million, resulting in a change in the composition of borrowings. - FY2022-Q2Update to borrowing structureAnnual report
「The increase in liabilities was mainly due to an increase of ¥882 million in long-term borrowings, while short-term borrowings decreased by ¥1,900 million.」
Short-term borrowings decreased by ¥1,900 million from the end of the previous consolidated fiscal year, while long-term borrowings increased by ¥882 million, resulting in a change in the composition of borrowings. - FY2022-Q1Change in the composition of borrowingsAnnual report
「The increase in liabilities was mainly due to an increase of ¥1,093 million in long-term borrowings, while short-term borrowings decreased by ¥1,900 million.」
Short-term borrowings decreased by ¥1,900 million, while long-term borrowings increased by ¥1,093 million, resulting in a change in the composition of borrowings. - FY2021-Q3Increase in outstanding borrowingsAnnual report
「The increase in liabilities was mainly due to increases of ¥1,267 million in short-term borrowings and ¥345 million in long-term borrowings, while accounts payable and construction-related accrued expenses decreased by ¥796 million.」
At the end of the third quarter, the increase in liabilities included increases of ¥1,267 million in short-term borrowings and ¥345 million in long-term borrowings. The company reported an increase in outstanding borrowings following the working capital financing undertaken as a precaution against COVID-19. - FY2021-Q2AdvancedAnnual report
「To prepare for the spread and prolonged impact of COVID-19 and stabilize management, the company drew down a total of ¥2.6 billion in borrowings from major financial institutions in August 2020 to increase cash on hand.」
The company stated that it had drawn down a total of ¥2.6 billion in borrowings from major financial institutions in August 2020, following the financing that had been described in the previous quarter as agreed and partly executed. - FY2021-Q1AdvancedAnnual report
「The company has reached agreements with each financial institution regarding the financing described below, and has drawn down part of the financing.」
To prepare for the spread and prolonged impact of COVID-19, the company agreed to borrow a total of ¥2.6 billion to increase cash on hand: ¥700 million from MUFG Bank, ¥500 million from Sumitomo Mitsui Banking Corporation, ¥300 million from The Bank of Yokohama, ¥300 million from Resona Bank, ¥200 million from Mizuho Bank, and ¥600 million from Shoko Chukin Bank. Part of the financing was drawn down. The scheduled drawdown date was August 2020, and the borrowing terms were within 1 year or within 15 years. - FY2020Clear liquidity target and increase in borrowingsAnnual report
「To ensure the financial soundness of the Group, we will pursue new financing and other measures while strengthening cooperation with our existing financial institutions, and will strive to maintain cash and cash equivalents on hand at a level equivalent to at least 3 months of monthly sales.」
In light of the deterioration in the business environment caused by COVID-19, the company stated a target of maintaining cash and cash equivalents on hand at a level equivalent to at least 3 months of monthly sales. Short-term borrowings increased by ¥582 million from the end of the previous fiscal year. - FY2020-Q3Continued increase in short-term borrowingsAnnual report
「The increase in liabilities was mainly due to increases of ¥548 million in short-term borrowings and ¥163 million in accounts payable and construction-related accrued expenses, compared with the end of the previous consolidated fiscal year.」
In financing, short-term borrowings increased by ¥548 million from the end of the previous consolidated fiscal year. The increase in borrowings to offset the previously reported decline in operating cash flow has continued. - FY2019Funding to cover the increase in borrowingsAnnual report
「In financing for the fiscal year ended March 2019, operating cash flow declined, and the company increased funding, primarily borrowings from financial institutions, with an emphasis on capital efficiency and flexibility to cover funding needs.」
Following the decline in operating cash flow, the company increased borrowings from financial institutions to cover funding needs. - FY2018RestatedAnnual report
「In financing, we will seek to improve ROE through funding, primarily borrowings from financial institutions, and management focused on capital efficiency and flexibility, while using operating cash flow as a funding source and ensuring financial soundness.」
The company has continued its financial policy of using operating cash flow as its primary funding source and obtaining flexible financing through borrowings from financial institutions and other means. - FY2016First statedAnnual report
「In financing, we will seek to improve ROE by using operating cash flow as a funding source, while ensuring financial soundness and emphasizing funding and management focused on capital efficiency and flexibility.」
The company's financial policy is to use operating cash flow as its primary funding source and, as necessary, utilize commitment lines and other facilities.