Risk of lump-sum repayment under syndicate loan financial covenants
First written in FY2021. 13 of 16 entries say "Mitigated", first in FY2022-Q3. Latest entry: FY2026.
The whole theme swung hardest in 2017: 8 of 62 companies on the "Worse" side.
53 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「Current consolidated fiscal year (31 March 2026): No applicable items.」
The company stated that there were no matters applicable in the current fiscal year concerning the syndicated loan financial covenants disclosed through the previous fiscal year, and that the borrowing balance had also declined. - FY2026-H1MitigatedAnnual report
「Among the borrowings outstanding at the end of the interim consolidated accounting period, the term loan agreement under a syndicated loan arrangement executed on 20 April 2018, with borrowings of ¥1,200 million outstanding at the end of the interim consolidated accounting period, is subject to financial covenants. The financial covenants are as follows, and a breach could result in a demand for full repayment of the relevant borrowings. As of the end of the interim consolidated accounting period, none of the following financial covenants had been breached.」
The syndicated loan balance declined from ¥2.4 billion at the end of March 2025 to ¥1.2 billion, and the risk of full repayment decreased further as the company remained in compliance with its financial covenants. - FY2025MitigatedAnnual report
「Among the borrowings outstanding at the end of the consolidated fiscal year, the term loan agreement under a syndicated loan arrangement executed on 20 April 2018, with borrowings of ¥2,400 million outstanding at the end of the consolidated fiscal year, is subject to financial covenants. As of the end of the consolidated fiscal year, none of the following financial covenants had been breached.」
As the syndicated loan balance declined from ¥4.8 billion to ¥2.4 billion and the company remained in compliance with its financial covenants, the risk of full repayment has decreased. - FY2025-H1MitigatedAnnual report
「Among the borrowings outstanding at the end of the interim consolidated accounting period, the term loan agreement under a syndicated loan arrangement executed on 20 April 2018, with borrowings of ¥3,600 million outstanding at the end of the interim consolidated accounting period, is subject to financial covenants. The financial covenants are as follows, and a breach could result in a demand for full repayment of the relevant borrowings. As of the end of the interim consolidated accounting period, none of the following financial covenants had been breached.」
The syndicated loan balance declined from ¥4.8 billion at the end of the previous fiscal year to ¥3.6 billion, while the company remained in compliance with its financial covenants. - FY2024-Q3MitigatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the third quarter of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the third quarter of the consolidated fiscal year under review: ¥5,400 million). As of the end of the third quarter of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicated loan balance declined from ¥7.2 billion at the end of the previous fiscal year and ¥6.0 billion at the end of the previous quarter to ¥5.4 billion, while the company remained in compliance with its financial covenants. - FY2024-Q2MitigatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the second quarter of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the second quarter of the consolidated fiscal year under review: ¥6,000 million). The financial covenants are as follows, and if any of them are breached, the relevant borrowings may be subject to lump-sum repayment. As of the end of the second quarter of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicate loan balance declined from ¥7.2 billion at the end of the previous fiscal year to ¥6.0 billion, and the absence of breaches of the financial covenants continued. - FY2024-Q1MitigatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the first quarter of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the first quarter of the consolidated fiscal year under review: ¥6,600 million). The financial covenants are as follows, and if any of them are breached, the relevant borrowings may be subject to lump-sum repayment. As of the end of the first quarter of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicate loan balance declined from ¥7.2 billion at the end of the previous fiscal year to ¥6.6 billion, and the absence of breaches of the financial covenants continued. - FY2023MitigatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the consolidated fiscal year under review: ¥7,200 million). ... As of the end of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicate loan balance declined from ¥9.6 billion at the end of the previous fiscal year to ¥7.2 billion, and the absence of breaches of the financial covenants continued. - FY2023-Q3MitigatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the third quarter of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the third quarter of the consolidated fiscal year under review: ¥7,800 million). The financial covenants are as follows, and if any of them are breached, the relevant borrowings may be subject to lump-sum repayment. As of the end of the third quarter of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicate loan balance declined from ¥8.4 billion at the end of the previous quarter to ¥7.8 billion, and the absence of breaches of the financial covenants continued. - FY2023-Q2MitigatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the second quarter of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the second quarter of the consolidated fiscal year under review: ¥8,400 million). The financial covenants are as follows, and if any of them are breached, the relevant borrowings may be subject to lump-sum repayment. As of the end of the second quarter of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicate loan balance declined from ¥9.6 billion at the end of the previous fiscal year to ¥8.4 billion, and the absence of breaches of the financial covenants continued. - FY2023-Q1MitigatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the first quarter of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the first quarter of the consolidated fiscal year under review: ¥9,000 million). The financial covenants are as follows, and if any of them are breached, the relevant borrowings may be subject to lump-sum repayment. As of the end of the first quarter of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicate loan balance declined from ¥9.6 billion at the end of the previous fiscal year to ¥9.0 billion, and no breaches of the financial covenants continued to occur. - FY2022MitigatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the consolidated fiscal year under review: ¥9,600 million). ... As of the end of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicate loan balance declined from ¥12.0 billion at the end of the previous fiscal year to ¥9.6 billion, and the absence of breaches of the financial covenants continued. - FY2022-Q3MitigatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the third quarter of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the third quarter of the consolidated fiscal year under review: ¥10,200 million). The financial covenants are as follows, and if any of them are breached, the relevant borrowings may be subject to lump-sum repayment. As of the end of the third quarter of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicate loan balance declined from ¥10.8 billion at the end of the previous quarter to ¥10.2 billion. The financial covenants and lump-sum repayment risk continued, but no breach had occurred as of the end of the quarter. - FY2022-Q2RestatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the second quarter of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the second quarter of the consolidated fiscal year under review: ¥10,800 million). The financial covenants are as follows, and if any of them are breached, the relevant borrowings may be subject to lump-sum repayment. As of the end of the second quarter of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicate loan balance declined from ¥12.0 billion at the end of the previous fiscal year to ¥10.8 billion. The financial covenants and the possibility of lump-sum repayment in the event of a breach continued to be disclosed, and no breach had occurred as of the end of the quarter. - FY2022-Q1RestatedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the first quarter of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the first quarter of the consolidated fiscal year under review: ¥11,400 million). The financial covenants are as follows, and if any of them are breached, the relevant borrowings may be subject to lump-sum repayment. As of the end of the first quarter of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
The syndicate loan balance declined from ¥12.0 billion to ¥11.4 billion. The financial covenants, including the maintenance of net assets, and the possibility of lump-sum repayment in the event of a breach continued to be disclosed, and no breach had occurred as of the end of the quarter. - FY2021First statedAnnual report
「The term loan agreement entered into on 20 April 2018 under a syndicated loan arrangement, among the borrowings outstanding at the end of the consolidated fiscal year under review, has financial covenants attached to it (borrowings outstanding at the end of the consolidated fiscal year under review: ¥12,000 million). The financial covenants are as follows, and if any of them are breached, the relevant borrowings may be subject to lump-sum repayment. As of the end of the consolidated fiscal year under review, none of the following financial covenants had been breached.」
For the ¥12.0 billion syndicate loan balance, the financial covenants requiring the maintenance of net assets and avoidance of ordinary losses for 3 consecutive fiscal years, as well as the possibility of lump-sum repayment in the event of a breach, were disclosed separately for the first time.