Metzä’s Interest-Bearing Debt, Covenants and Fixed Asset Impairment Risk
First written in FY2019. 5 of 10 entries say "Mitigated", first in FY2020-Q3. Latest entry: FY2026-H1.
No other company in this theme has enough history to compare yet.
- FY2026-H1DroppedAnnual report
「(Particularly material risks) "② Impairment of fixed assets" and "③ Interest-bearing debt"」
Following the exclusion of Moomin Monogatari and 飯能地域資源利活用合同会社 from the scope of consolidation, the fixed-asset impairment and interest-bearing debt risks previously disclosed as Metsä-related in the previous fiscal year ceased to apply. - 2026-03-26MitigatedM&A and Subsidiary Changes
「Of the ¥13.9 billion in interest-bearing debt at the end of December 2025, ¥5.6 billion will be treated off balance sheet, leaving ¥8.2 billion.」
The estimated impact of the off-balance-sheet treatment of ¥5.6 billion in interest-bearing debt related to Moominvalley Park was presented. - FY2025MitigatedAnnual report
「Because these borrowings matured in March 2024, the Company negotiated with financial institutions and extended the repayment deadline several times. As of the date of submission of the annual securities report, the repayment deadline had been changed to the end of June 2026. Depending on the terms and conditions of future refinancing, however, the borrowings could affect the Company Group's results and financial position.」
The repayment deadline for Metsä-related borrowings was extended several times and changed to the end of June 2026 as of the submission date. Although the repayment-maturity risk was deferred, the possibility of an impact from refinancing terms remains. - FY2025-H1MitigatedAnnual report
「Because these borrowings matured in March 2024, the Company negotiated with financial institutions and refinanced them, extending the one-year repayment period by one year. Depending on the terms and conditions of future refinancing, however, the borrowings could affect the Company Group's results and financial position.」
Following the extension of the repayment period for Metsä-related borrowings, the current semiannual report states that there have been no material changes in the relevant borrowing risks and that existing refinancing measures remain in place. - FY2024MitigatedAnnual report
「Because these borrowings matured in March 2024, the Company negotiated with financial institutions and refinanced them, extending the one-year repayment period by one year. Depending on the terms and conditions of future refinancing, however, the borrowings could affect the Company Group's results and financial position.」
The repayment period for borrowings maturing in March 2024 was extended by one year following discussions with financial institutions. Although the short-term maturity risk was addressed, the possibility of an impact from refinancing terms remains. - FY2023WorsenedAnnual report
「These borrowings mature in March 2024, so the Company will negotiate with financial institutions and refinance them. Depending on the terms and conditions of the refinancing, however, the borrowings could affect the Company Group's results and financial position.」
Although the Metsä-related borrowings moved toward the start of repayment, refinancing became necessary ahead of their March 2024 maturity, and the disclosure identified the risk that the terms could affect results and the financial position. - FY2021RestatedAnnual report
「As of 30 September 2021, fixed assets at Moominvalley Park amounted to ¥5,564 million. Although the pandemic caused a significant deterioration in Moominvalley Park's operating environment and there were indications of impairment, the total undiscounted future cash flows based on assumptions including a certain level of visitor numbers did not fall below the carrying amount of the fixed assets. Accordingly, no impairment loss on Moominvalley Park's fixed assets was recognized in the current consolidated fiscal year.」
The disclosure continues to state that, although there were indications of impairment for ¥5,564 million in fixed assets, no impairment loss was recognized in the fiscal year ended September 2021. - FY2020WorsenedAnnual report
「As of 30 September 2020, Metsä's fixed assets amounted to ¥6,041 million. Although, as described under "① COVID-19, etc.," the pandemic caused a significant deterioration in Metsä's operating environment and there were indications of impairment, the total undiscounted future cash flows based on assumptions including a certain level of visitor numbers did not fall below the carrying amount of the fixed assets. Accordingly, no impairment loss on Metsä's fixed assets was recognized in the current consolidated fiscal year.」
Although indications of impairment arose for Metsä's ¥6,041 million in fixed assets, future cash flows did not fall below the carrying amount, and no impairment loss was recognized in the current fiscal year. - FY2020-Q3MitigatedAnnual report
「Regarding borrowings by 飯能地域資源利活用合同会社, a subsidiary that owns and manages the real estate of the company and Moominvalley Park, the Company agreed with financial institutions to defer repayment of principal due in June 2020, subject to the implementation of cost-reduction measures, and continues discussions while requesting a flexible response going forward.」
Regarding borrowings by the Metsä-related company, the Company agreed with financial institutions to defer repayment of principal due in June 2020, subject to the implementation of cost-reduction measures, addressing the short-term repayment burden. However, discussions regarding the future remain ongoing. - FY2019First statedAnnual report
「飯能地域資源利活用合同会社, a special-purpose company, raised ¥5.6 billion from financial institutions, while ㈱ムーミン物語 raised ¥900 million through a sale-and-leaseback transaction. If the possibility of breaching any covenant arises and measures to avoid the breach cannot be taken, the relevant debt could become immediately repayable.」
The disclosure summarizes Metsä-related risks involving ¥5.6 billion in long-term borrowings, a ¥900 million sale-and-leaseback transaction, interest-rate fluctuations, covenant breaches, write-downs of real estate held for sale and impairment of real estate used in the business.