Risk of Breaching Financial Covenants Under Syndicated Loans
First written in FY2016. 13 of 19 entries say "Restated". Latest entry: FY2026.
- FY2026Syndicated loan agreement renewed under the 2026 agreementAnnual report
「The Company has entered into a syndicated loan agreement dated 26 March 2026, which contains the following financial covenants.」
A new agreement dated 26 March 2026 was entered into in place of the previous agreement. The new agreement contains covenants requiring net assets to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2026-H1RestatedAnnual report
「The company has entered into a syndicated loan agreement dated 26 December 2019, amended on 30 March 2022, which contains the following financial covenants.」
It continues to disclose the syndicated loan agreement amended on 30 March 2022 and the financial covenants requiring shareholders' equity to remain at or above 75% and avoiding consecutive losses. - FY2024-Q3RestatedAnnual report
「The company has entered into a syndicated loan agreement dated 26 December 2019, amended on 30 March 2022, which contains the following financial covenants.」
It continues to disclose the syndicated loan agreement amended on 30 March 2022 and the financial covenants requiring shareholders' equity to remain at or above 75% and avoiding consecutive losses. - FY2023-Q2RestatedAnnual report
「The company has entered into a syndicated loan agreement dated 26 December 2019, amended on 30 March 2022, which contains the following financial covenants. ① In consolidated financial statements for the fiscal year ending March 2020 and thereafter, the total amount of shareholders' equity in the net assets section of the consolidated balance sheet as of the end of each consolidated fiscal year must be maintained at or above the higher of: the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the fiscal year ended March 2019; or the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the most recent consolidated fiscal year. ② Ordinary profit or loss reported in the consolidated income statement as of the end of the fiscal years ending March 2020 and March 2021 must not be a loss for 2 consecutive periods. For the fiscal year ending March 2022 and each subsequent fiscal year-end, if ordinary profit or loss reported in the consolidated income statement as of each fiscal year-end is a loss for 2 consecutive periods, profit or loss for the period reported in the consolidated income statement as of each fiscal year-end must not be a loss for 2 consecutive periods.」
It continues to disclose the syndicated loan agreement amended on 30 March 2022 and the financial covenants requiring shareholders' equity to remain at or above 75% and avoiding consecutive losses. - FY2023-Q1Changes to the agreement and financial covenantsAnnual report
「The company has entered into a syndicated loan agreement dated 26 December 2019, amended on 30 March 2022, which contains the following financial covenant. ② Ordinary profit or loss reported in the consolidated income statement as of the end of the fiscal years ending March 2020 and March 2021 must not be a loss for 2 consecutive periods. For the fiscal year ending March 2022 and each subsequent fiscal year-end, if ordinary profit or loss reported in the consolidated income statement is a loss for 2 consecutive periods, profit or loss for the period reported in the consolidated income statement as of each fiscal year-end must not be a loss for 2 consecutive periods.」
It discloses an amendment dated 30 March 2022 to the syndicated loan agreement dated 26 December 2019 and changes to the financial covenants applicable from the fiscal year ending March 2022 onward. - FY2022-Q1RestatedAnnual report
「The company has entered into a syndicated loan agreement dated 26 December 2019, which contains the following financial covenants. ① In consolidated financial statements for the fiscal year ending March 2020 and thereafter, the total amount of shareholders' equity in the net assets section of the consolidated balance sheet as of the end of each consolidated fiscal year must be maintained at or above the higher of: the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the fiscal year ended March 2019; or the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the most recent consolidated fiscal year. ② In consolidated financial statements for the fiscal year ending March 2020 and thereafter, ordinary profit or loss reported in the consolidated income statement must not be a loss for 2 consecutive periods.」
It continues to disclose the covenants under the syndicated loan dated 26 December 2019 requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2021-Q2RestatedAnnual report
「The company has entered into a syndicated loan agreement dated 26 December 2019, which contains the following financial covenants.」
It continues to disclose the financial covenants under the syndicated loan agreement dated 26 December 2019 requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2020-Q3Syndicated loan agreement renewedAnnual report
「The company has entered into a syndicated loan agreement dated 26 December 2019, which contains the following financial covenants.」
A syndicated loan agreement dated 26 December 2019 was entered into in place of the previously disclosed agreement. Under the new agreement, the covenants requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods apply from the fiscal year ending March 2020 onward. - FY2020-Q2RestatedAnnual report
「The company has entered into a syndicated loan agreement dated 30 September 2016, which contains the following financial covenants.」
It continues to disclose the syndicated loan agreement and the related financial covenants requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2019-Q1RestatedAnnual report
「The company has entered into a syndicated loan agreement dated 30 September 2016, which contains the following financial covenants.」
It continues to disclose the syndicated loan agreement and the related financial covenants requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2018RestatedAnnual report
「The company has entered into a syndicated loan agreement dated 30 September 2016, which contains the following financial covenants.」
It continues to disclose syndicated loan financial covenants requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2018-Q3RestatedAnnual report
「① In consolidated financial statements for the fiscal year ending March 2018 and thereafter, the total amount of shareholders' equity in the net assets section of the consolidated balance sheet as of the end of each consolidated fiscal year must be maintained at or above the higher of: the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the fiscal year ended March 2017; or the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the most recent consolidated fiscal year. ② In consolidated financial statements for the fiscal year ending March 2018 and thereafter, ordinary profit or loss reported in the consolidated income statement as of the end of each consolidated fiscal year must not be a loss for 2 consecutive periods.」
It continues to disclose the syndicated loan financial covenants requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2018-Q1RestatedAnnual report
「① In consolidated financial statements for the fiscal year ending March 2014 and thereafter, the total amount of shareholders' equity in the net assets section of the consolidated balance sheet as of the end of each consolidated fiscal year must be maintained at or above the higher of: the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the fiscal year ended March 2013; or the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the most recent consolidated fiscal year. ② In consolidated financial statements for the fiscal year ending March 2013 and thereafter, ordinary profit or loss reported in the consolidated income statement as of the end of each consolidated fiscal year must not be a loss for 2 consecutive periods.」
It continues to disclose the syndicated loan financial covenants requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2017RestatedAnnual report
「The company has entered into a syndicated loan agreement dated 25 September 2012, which contains the following financial covenants.」
It continues to disclose syndicated loan financial covenants requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2017-Q2Update to financial covenants associated with refinancingAnnual report
「Financial covenants: ① As of the end of the fiscal year ending March 2018 and each subsequent consolidated fiscal year, the total amount of shareholders' equity in the net assets section of the consolidated balance sheet must be maintained at or above the higher of: the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the fiscal year ended March 2017; or the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the most recent consolidated fiscal year. ② Ordinary profit or loss reported in the consolidated income statement as of the end of the fiscal year ending March 2018 and each subsequent consolidated fiscal year must not be a loss for 2 consecutive periods.」
In connection with the refinancing of the syndicated loan, it discloses the financial covenants under the new agreement requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2017-Q1RestatedAnnual report
「① In consolidated financial statements for the fiscal year ending March 2014 and thereafter, the total amount of shareholders' equity in the net assets section of the consolidated balance sheet as of the end of each consolidated fiscal year must be maintained at or above the higher of: the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the fiscal year ended March 2013; or the amount equivalent to 75% of the total shareholders' equity in the net assets section of the consolidated balance sheet as of the end of the most recent consolidated fiscal year. ② In consolidated financial statements for the fiscal year ending March 2013 and thereafter, ordinary profit or loss reported in the consolidated income statement as of the end of each consolidated fiscal year must not be a loss for 2 consecutive periods.」
It continues to disclose syndicated loan financial covenants requiring shareholders' equity to remain at or above 75% and avoiding losses in ordinary profit or loss for 2 consecutive periods. - FY2016First statedAnnual report
「The syndicated loan agreement relating to the company's financing contains financial covenants. If the company breaches these covenants and a claim is made for the loss of the benefit of time, the resulting deterioration in cash flow could affect the future growth, operating performance and financial condition of the company and its group. The covenants relate to shareholders' equity and ordinary profit.」
It discloses financial covenants relating to shareholders' equity and ordinary profit. The detailed requirements are maintaining shareholders' equity at 75% or more and avoiding losses in ordinary profit or loss for 2 consecutive periods.