Risk of Breaching Financial Covenants in Borrowing Agreements
First written in FY2024. 5 of 7 entries say "Restated". Latest entry: FY2027-H1.
- FY2027-H1RestatedAnnual report
「The commitment line agreement entered into by the Company on 25 February 2026 is subject to the following financial covenants.」
The company continues to disclose the covenants under the commitment line agreement entered into on 25 February 2026, requiring it to maintain net assets at 75% or more, avoid operating losses for 2 consecutive periods, and keep interest-bearing debt at or below net assets. The ¥1,000 million commitment line remains entirely undrawn. - FY2026Financial covenants under the new commitment line agreementAnnual report
「The commitment line agreement entered into by the Company on 25 February 2026 is subject to the following financial covenants.」
The company has disclosed financial covenants under the newly executed commitment line agreement, including maintaining net assets at 75%, avoiding operating losses for 2 consecutive fiscal periods and maintaining interest-bearing debt at no more than net assets. - 2026-04-28RestatedGeneral Meetings of Shareholders
「(2) The commitment line agreement entered into by the company on 25 February 2026, with a borrowing limit of ¥1,000,000 thousand and no outstanding borrowings, contains the following financial covenants.」
The company discloses the borrowing limit and financial covenants under the commitment line agreement, continuing its disclosure of risks related to financial covenants. - FY2025RestatedAnnual report
「Certain borrowing agreements of the Group are subject to financial covenants. If the Group breaches any financial covenant in the future, it may lose the benefit of time and be required to repay the relevant borrowings in full, which could affect the Group's financial condition and operating results.」
The company continues to disclose the risk that a breach of financial covenants could result in the loss of the benefit of time and a demand for repayment in full. - FY2025-H1RestatedAnnual report
「Regarding (3), the company was in breach of the financial covenants at the end of the previous consolidated fiscal year, but obtained the lending banks' consent to continue the agreement.」
The company continues to disclose the breach, as of the end of the previous consolidated fiscal year, of the financial covenant concerning operating profit or loss under its committed term loan, as well as the banks' consent to continue the agreement. - FY2025-Q1RestatedAnnual report
「Regarding (3), the company was in breach of the financial covenants at the end of the previous consolidated fiscal year, but obtained the lending banks' consent to continue the agreement.」
The company continues to disclose the breach, as of the end of the previous consolidated fiscal year, of the financial covenant concerning operating profit or loss under its committed term loan, as well as the banks' consent to continue the agreement. - FY2024First statedAnnual report
「Regarding (3), the company was in breach of the financial covenants at the end of the current consolidated fiscal year, but obtained the lending banks' consent to continue the agreement.」
The company has disclosed an actual breach of the financial covenant under its committed term loan agreement requiring it not to report operating losses for 2 consecutive fiscal periods. The agreement also includes requirements to maintain net assets at 75% or more and interest-bearing debt at no more than net assets, and the company has obtained the banks' consent to continue the agreement.