Financial Covenants in Loan Agreements
First written in FY2019. . Latest entry: FY2026.
- FY2026New Borrowing Agreements and Financial CovenantsAnnual report
「The commitment line agreement entered into on 27 March 2026 and the syndicated loan agreement entered into on 24 February 2026 each contain the financial covenants set out below.」
In addition to the existing financial covenants, the commitment line agreement entered into in March 2026 and the syndicated loan agreement entered into in February 2026 also contain covenants concerning equity, interest-bearing debt and other items. - FY2023New Borrowing Agreements and Financial CovenantsAnnual report
「The loan agreement entered into on 30 September 2022 contains the following covenant: ① At the end of each fiscal year and the second quarter, the amount obtained by deducting the combined amount of share acquisition rights, non-controlling interests and deferred hedge gains or losses from total net assets in the consolidated balance sheet must be maintained at ¥15,470 million or more.」
In addition to the existing borrowing agreements and other arrangements, the loan agreement entered into in September 2022 added covenants requiring net assets of at least ¥15,470 million, avoidance of ordinary losses for 2 consecutive fiscal years, and compliance with an interest-bearing debt ratio. - FY2022Addition of Financial Covenants to New AgreementsAnnual report
「The loan agreement entered into on 27 January 2022, the commitment line agreement entered into on 29 March 2022 and the syndicated loan agreement entered into on 31 March 2022 each contain the financial covenants set out below.」
In addition to the existing financial covenants, the new borrowing agreements and other arrangements entered into in January and March 2022 also contain covenants concerning equity and interest-bearing debt. - FY2019First statedAnnual report
「The ordinary income or loss shown in the consolidated statements of income for each fiscal year must not be a loss for 2 consecutive fiscal years from the fiscal year ending March 2018 onward.」
Financial covenants concerning equity, ordinary income or loss, interest-bearing debt and other items have been disclosed for multiple loan agreements, commitment line agreements and syndicated loan agreements. No breach has been reported.