Risk of acceleration resulting from エアロパートナーズ’ breach of financial covenants
First written in FY2026-H1. 2 of 3 entries say "Worsened", first in FY2026. Latest entry: 2026-09-14.
- 2026-09-14WorsenedOccurring Fact
「Principal amount of debt: ¥4 billion Amendment to the agreement dated 24 September 2025 Amount before increase: ¥3 billion」
The principal amount under the loan agreement, which contains the same financial covenant requiring net assets to be at least 75% of those at the end of the immediately preceding fiscal year, increased from ¥3 billion to ¥4 billion. There is no disclosure that the financial covenant was breached or that the benefit of the term was lost. - FY2026WorsenedAnnual report
「No ordinary loss may be recorded in Aero Partners' standalone income statement for the relevant fiscal year-end. The reference value calculated using the following formula in RIKEI CORPORATION's consolidated balance sheet must not exceed [2].」
In addition to the requirement to maintain net assets at 75% or more, Aero Partners' financial covenants now include a condition prohibiting the recognition of an ordinary loss. The Company also disclosed a financial maintenance requirement that a reference value based on RIKEI CORPORATION's consolidated borrowings, net assets and other items must be no more than 2. A breach could result in the loss of the benefit of time for repayment or the provision of a corporate guarantee of obligations. - FY2026-H1First statedAnnual report
「Beginning with the fiscal year ending March 2025 and at the end of each subsequent fiscal year, the amount of net assets in Aero Partners' standalone balance sheet must be at least 75% of the amount of net assets in the borrower's standalone balance sheet at the end of the immediately preceding fiscal year.」
Aero Partners' loan agreement contains a financial covenant requiring standalone net assets to be maintained at no less than 75% of the prior year-end level, and states that a breach could result in the loss of the benefit of time for repayment of all debt.