Financial Covenants on Borrowings
First written in FY2017-Q1. 12 of 18 entries say "Restated". Latest entry: FY2026.
- FY2026AdvancedAnnual report
「The borrowings under the syndicated loan agreement entered into on 28 May 2024 are subject to the following financial covenants.」
The borrowing balance under the syndicated loan increased from ¥5,560 million in the prior fiscal year to ¥10,135 million, expanding the borrowings subject to financial covenants. - FY2026-H1AdvancedAnnual report
「The borrowings under the syndicated loan agreement entered into on 28 May 2024 are subject to the following financial covenants. Prior consolidated fiscal year (31 March 2025); current interim consolidated accounting period (30 September 2025); borrowing balance, ¥5,560 million and ¥10,378 million, respectively.」
The borrowing balance under the syndicated loan increased from ¥5,560 million to ¥10,378 million, expanding the borrowings subject to financial covenants. - FY2025AdvancedAnnual report
「The borrowings under the syndicated loan agreement entered into on 28 May 2024 are subject to the following financial covenants.」
A borrowing balance of ¥5,560 million was recorded at the end of the fiscal year for a syndicated loan intended to fund a new research and development facility, a new tennis racket plant, and the development of IT and core systems. - FY2025-H1AdvancedAnnual report
「The borrowings under the syndicated loan agreement entered into on 28 May 2024 are subject to the following financial covenants. Borrowing balance: prior consolidated fiscal year, ¥0 million; current interim consolidated accounting period, ¥5,560 million.」
The new syndicated loan of ¥5,560 million entered into on 28 May 2024 is subject to financial covenants including maintaining net assets and avoiding ordinary losses for 2 consecutive fiscal years. - FY2024AdvancedAnnual report
「The borrowings under the loan agreement entered into on 29 March 2024 are subject to the following financial covenants.」
The new ¥1,500 million borrowing is subject to financial covenants including maintaining net assets at not less than 75% and avoiding ordinary losses for 2 consecutive fiscal years. - FY2023-Q1RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (2) Maintain the amount of non-consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of non-consolidated net assets at the end of the immediately preceding fiscal year or the amount of non-consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year. (4) Do not record ordinary losses for 2 consecutive fiscal years based on non-consolidated ordinary profit or loss for each fiscal year.」
The financial covenants for the syndicated loan are reconfirmed: maintain consolidated and non-consolidated net assets at not less than 75% of the reference amount and do not record ordinary losses for 2 consecutive fiscal years on either a consolidated or non-consolidated basis. - FY2022-Q3RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014.」
It is reconfirmed that there have been no material changes to the financial covenants for the syndicated loan, including the requirement to maintain net assets at not less than 75%. - FY2022-Q2RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (2) Maintain the amount of non-consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of non-consolidated net assets at the end of the immediately preceding fiscal year or the amount of non-consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year. (4) Do not record ordinary losses for 2 consecutive fiscal years based on non-consolidated ordinary profit or loss for each fiscal year.」
The financial covenants for the syndicated loan are reconfirmed: maintain consolidated and non-consolidated net assets at not less than 75% of the reference amount and do not record ordinary losses for 2 consecutive fiscal years on either a consolidated or non-consolidated basis. - FY2021RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014.」
The financial covenants for the syndicated loan, including maintaining net assets at not less than 75%, are reiterated. - FY2021-Q1RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (2) Maintain the amount of non-consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of non-consolidated net assets at the end of the immediately preceding fiscal year or the amount of non-consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year. (4) Do not record ordinary losses for 2 consecutive fiscal years based on non-consolidated ordinary profit or loss for each fiscal year.」
The financial covenants requiring consolidated and non-consolidated net assets to be maintained at not less than 75% of the reference amount and prohibiting ordinary losses for 2 consecutive fiscal years on either a consolidated or non-consolidated basis are reiterated. - FY2020-Q2RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (2) Maintain the amount of non-consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of non-consolidated net assets at the end of the immediately preceding fiscal year or the amount of non-consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year. (4) Do not record ordinary losses for 2 consecutive fiscal years based on non-consolidated ordinary profit or loss for each fiscal year.」
The financial covenants requiring consolidated and non-consolidated net assets to be maintained at not less than 75% of the reference amount and prohibiting ordinary losses for 2 consecutive fiscal years on either a consolidated or non-consolidated basis are reiterated. - FY2019RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year.」
The financial covenants for the syndicated loan are reiterated, including maintaining net assets at not less than 75% and avoiding ordinary losses for 2 consecutive fiscal years. - FY2019-Q2RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (2) Maintain the amount of non-consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of non-consolidated net assets at the end of the immediately preceding fiscal year or the amount of non-consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year. (4) Do not record ordinary losses for 2 consecutive fiscal years based on non-consolidated ordinary profit or loss for each fiscal year.」
The financial covenants requiring consolidated and non-consolidated net assets to be maintained at not less than 75% of the reference amount and prohibiting ordinary losses for 2 consecutive fiscal years on either a consolidated or non-consolidated basis are reiterated. - FY2018RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (2) Maintain the amount of non-consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of non-consolidated net assets at the end of the immediately preceding fiscal year or the amount of non-consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year. (4) Do not record ordinary losses for 2 consecutive fiscal years based on non-consolidated ordinary profit or loss for each fiscal year.」
The financial covenants for the syndicated loan are reiterated: maintain consolidated and non-consolidated net assets at not less than 75% of the reference amount and do not record ordinary losses for 2 consecutive fiscal years on either a consolidated or non-consolidated basis. - FY2018-Q3RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (2) Maintain the amount of non-consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of non-consolidated net assets at the end of the immediately preceding fiscal year or the amount of non-consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year. (4) Do not record ordinary losses for 2 consecutive fiscal years based on non-consolidated ordinary profit or loss for each fiscal year.」
The financial covenants requiring consolidated and non-consolidated net assets to be maintained at not less than 75% of the reference amount and prohibiting ordinary losses for 2 consecutive fiscal years on either a consolidated or non-consolidated basis are reiterated. - FY2018-Q1RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (2) Maintain the amount of non-consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of non-consolidated net assets at the end of the immediately preceding fiscal year or the amount of non-consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year. (4) Do not record ordinary losses for 2 consecutive fiscal years based on non-consolidated ordinary profit or loss for each fiscal year.」
The financial covenants requiring consolidated and non-consolidated net assets to be maintained at not less than 75% of the reference amount and prohibiting ordinary losses for 2 consecutive fiscal years on either a consolidated or non-consolidated basis are reiterated. - FY2017-Q3RestatedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (2) Maintain the amount of non-consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of non-consolidated net assets at the end of the immediately preceding fiscal year or the amount of non-consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year. (4) Do not record ordinary losses for 2 consecutive fiscal years based on non-consolidated ordinary profit or loss for each fiscal year.」
The financial covenants for the syndicated loan are reiterated: maintain consolidated and non-consolidated net assets at not less than 75% of the reference amount and do not record ordinary losses for 2 consecutive fiscal years. - FY2017-Q1First statedAnnual report
「(1) Maintain the amount of consolidated net assets at the end of each fiscal year at not less than 75% of the higher of the amount of consolidated net assets at the end of the immediately preceding fiscal year or the amount of consolidated net assets at the end of the fiscal year ended March 2014. (3) Do not record ordinary losses for 2 consecutive fiscal years based on consolidated ordinary profit or loss for each fiscal year.」
The syndicated loan is subject to financial covenants, including maintaining consolidated and non-consolidated net assets above a specified level and avoiding ordinary losses for 2 consecutive fiscal years.