Impact on Operating Results and Financial Position from Breaches of Financial Covenants in Syndicated Loans and Other Borrowings
First written in FY2018-Q1. 5 of 19 entries say "Restated". Latest entry: FY2026.
- FY2026Update to amounts subject to financial covenantsAnnual report
「Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥1,650 million is subject to the following financial covenants.」
The amount of long-term borrowings subject to financial covenants was updated to ¥1,650 million. The disclosure includes covenants requiring net assets to be maintained at 75% or more and avoiding ordinary losses for 2 consecutive periods, but this disclosure does not state that a breach occurred. - FY2026-H1Update to the amount of borrowings subject to financial covenantsAnnual report
「Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥1,750 million is subject to the following financial covenants.」
The amount of long-term borrowings subject to financial covenants was updated to ¥1,750 million. The disclosure includes covenants requiring net assets to be maintained at 75% or more and avoiding ordinary losses for 2 consecutive periods, but this disclosure does not state that a breach occurred. - FY2025Update to the amount of borrowings subject to financial covenantsAnnual report
「Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥1,850 million is subject to the following financial covenants.」
The amount of long-term borrowings subject to financial covenants was updated to ¥1,850 million. The disclosure includes covenants requiring net assets to be maintained at 75% or more and avoiding ordinary losses for 2 consecutive periods, but this disclosure does not state that a breach occurred. - FY2025-H1Update to the amount of borrowings subject to financial covenantsAnnual report
「Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥1,950 million is subject to the following financial covenants.」
The amount of long-term borrowings subject to financial covenants was updated to ¥1,950 million, and the disclosure includes covenants requiring net assets to be maintained at 75% or more and avoiding ordinary losses for 2 consecutive periods. This disclosure does not state that a breach occurred. - FY2024Update to the amount of borrowings subject to financial covenantsAnnual report
「Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥759 million is subject to the following financial covenants. / Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥2,725 million is subject to the following financial covenants.」
The amounts of long-term borrowings subject to financial covenants were updated to ¥759 million and ¥2,725 million. This disclosure does not state that a breach occurred. - FY2024-Q3Update to the amount of borrowings subject to financial covenantsAnnual report
「Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥773 million is subject to the following financial covenants. / Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥2,750 million is subject to the following financial covenants.」
The amounts of long-term borrowings subject to financial covenants were updated to ¥773 million and ¥2,750 million. The disclosure includes covenants requiring net assets to be maintained at 75% or more of the amount at the immediately preceding fiscal year-end and requiring the Group not to incur ordinary losses for 2 consecutive periods, but does not state that a breach occurred during the current quarter. - FY2024-Q2Update to the amount of borrowings subject to financial covenantsAnnual report
「Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥848 million is subject to the following financial covenants. / Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥2,775 million is subject to the following financial covenants.」
The amounts of long-term borrowings subject to financial covenants were updated to ¥848 million and ¥2,775 million. The disclosure includes covenants requiring net assets to be maintained at 75% or more and avoiding ordinary losses for 2 consecutive periods, but does not state that a breach occurred during the current quarter. - FY2024-Q1Update to the amount of borrowings subject to financial covenantsAnnual report
「Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥866 million is subject to the following financial covenants. / Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥2,800 million is subject to the following financial covenants.」
The amounts of long-term borrowings subject to financial covenants were updated to ¥866 million and ¥2,800 million. The disclosure includes covenants requiring net assets to be maintained at 75% or more and avoiding ordinary losses for 2 consecutive periods, but this filing does not state that a breach occurred. - FY2023-Q3Update to the amount of borrowings subject to financial covenantsAnnual report
「Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥959 million is subject to the following financial covenants. / Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥2,850 million is subject to the following financial covenants.」
The amounts of long-term borrowings subject to financial covenants were updated to ¥959 million and ¥2,850 million. The disclosure includes covenants requiring net assets to be maintained at 75% or more of the amount at the immediately preceding fiscal year-end and requiring the Group not to incur ordinary losses for 2 consecutive periods, but this filing does not state that a breach occurred. - FY2023-Q2ReframedAnnual report
「Of the Group's long-term borrowings, including amounts due for repayment within one year, ¥1,034 million is subject to financial covenants requiring the amount of net assets at each fiscal year-end to be maintained at 75% or more of the amount at the immediately preceding fiscal year-end, and requiring the Group not to incur ordinary losses for 2 consecutive periods, among other conditions. Long-term borrowings of ¥2,875 million are also subject to similar financial covenants.」
In addition to the general possibility of breach disclosed at the end of the previous fiscal year, specific disclosure is provided for long-term borrowings of ¥1,034 million and ¥2,875 million, including covenants requiring net assets to be maintained at 75% or more and avoiding ordinary losses for 2 consecutive periods. This filing does not state that a breach occurred. - FY2022SoftenedAnnual report
「The Group's commitment line agreements with financial institutions contain financial covenants. If a significant deterioration in its financial condition causes it to breach those covenants, the agreements are terminated, and the Group is required to repay the borrowings, resulting in a loss of the benefit of time, its financing may be affected.」
The current breach of the financial covenants, which had been explicitly disclosed through the previous quarter, is not explicitly stated in the full-year risk disclosures and is instead presented as a general possibility of breach. - FY2022-Q3RestatedAnnual report
「At the end of the third quarter of the consolidated fiscal period, the Company was in breach of the financial covenants in (1) and (2) above. However, it had obtained the financial institutions' consent not to exercise their rights relating to the loss of the benefit of time.」
The breaches of the net assets maintenance covenant and ordinary profit/loss covenant continued at the end of the third quarter, while the Company had obtained the financial institutions' consent not to exercise their rights. - FY2022-Q2RestatedAnnual report
「At the end of the second quarter of the consolidated fiscal period, the Company was in breach of the financial covenants in (1) and (2) above. However, it had obtained the financial institutions' consent not to exercise their rights relating to the loss of the benefit of time.」
The breaches of the net assets maintenance covenant and ordinary profit/loss covenant continued at the end of the second quarter, while the Company had obtained the financial institutions' consent not to exercise their rights. - FY2022-Q1RestatedAnnual report
「At the end of the first quarter of the consolidated fiscal period, the Company was in breach of the financial covenants in (1) and (2) above. However, it had obtained the financial institutions' consent not to exercise their rights relating to the loss of the benefit of time.」
The breaches of the net assets maintenance covenant and ordinary profit/loss covenant continued at the end of the first quarter, while the Company had obtained the financial institutions' consent not to exercise their rights relating to the loss of the benefit of time. - FY2021MaterialisedAnnual report
「At the end of the consolidated fiscal year, the Company was in breach of the financial covenants in (1) and (2) above. However, it had obtained the financial institutions' consent not to exercise their rights relating to the loss of the benefit of time.」
The financial covenant risk, which had disappeared from the disclosures once in the past, was explicitly disclosed again, and breaches of the net assets maintenance covenant and ordinary profit/loss covenant actually occurred. However, the Company had obtained the financial institutions' consent not to exercise their rights. - FY2018DroppedAnnual report
「Among the matters concerning the business and accounting conditions described in the annual securities report, the following are matters that could have a material impact on investors’ decisions.」
The risk of breaching the financial covenants, which was explicitly disclosed in the previous quarterly report, is not included in the list of risks under "Business and Other Risks" for the current fiscal year. - FY2018-Q3RestatedAnnual report
「During the first quarter of the consolidated fiscal period, the Company drew down borrowings totaling ¥2,000 million under syndicated loan agreements and term loan agreements with an availability period entered into with its financial institutions. If these financial covenants are breached, the Group's operating performance and financial condition may be affected.」
The risk of breaching the financial covenants relating to borrowings totaling ¥2,000 million continues to be explicitly disclosed. - FY2018-Q2RestatedAnnual report
「During the first quarter of the consolidated fiscal period, the Company drew down borrowings totaling ¥2,000 million under syndicated loan agreements and term loan agreements with an availability period entered into with its financial institutions. If these financial covenants are breached, the Group's operating performance and financial condition may be affected.」
The risk of breaching the financial covenants relating to borrowings totaling ¥2,000 million continues to be explicitly disclosed. - FY2018-Q1First statedAnnual report
「If these financial covenants are breached, the Group's operating performance and financial condition may be affected.」
The possibility of an impact on operating performance and financial condition if the financial covenants relating to borrowings totaling ¥2,000 million are breached is identified as a new risk.