Financial Covenants on Capital Maintenance and Consecutive Operating Losses
First written in FY2024-Q1. 6 of 7 entries say "Restated". Latest entry: FY2026.
- FY2026RestatedAnnual report
「Our long-term borrowings, including long-term borrowings due within 1 year, are subject to financial covenants. The principal terms are as follows.」
The financial covenants requiring total equity of at least 75% and avoidance of operating losses for 2 consecutive years continue to be disclosed. - FY2026-H1RestatedAnnual report
「① Maintain total equity stated in the consolidated statement of financial position at each fiscal year-end at or above 75% of the higher of total equity at the previous fiscal year-end or at the end of the fiscal year ending March 2025. ② Avoid operating losses for 2 consecutive fiscal years.」
The new syndicated loan also includes covenants requiring total equity of at least 75% and avoidance of operating losses for 2 consecutive years. - FY2025-H1RestatedAnnual report
「① Maintain total equity stated in the consolidated statement of financial position at 31 March 2024 and each subsequent consolidated fiscal year-end at or above the higher of 75% of total equity stated at 31 March 2023 or 75% of total equity stated at the most recent consolidated fiscal year-end. ② Do not record an operating loss for 2 consecutive consolidated fiscal years at 31 March 2024 and each subsequent consolidated fiscal year-end.」
The new syndicated loan also includes covenants requiring total equity of at least 75% and avoidance of operating losses for 2 consecutive years. - FY2024RestatedAnnual report
「① Maintain total equity in the consolidated statement of financial position at each consolidated fiscal year-end at or above 75% of the higher of total equity at the immediately preceding consolidated fiscal year-end or at the end of the fiscal year ending March 2023. ② Do not record an operating loss for 2 consecutive consolidated fiscal years.」
The financial covenants requiring total equity of at least 75% and avoidance of operating losses for 2 consecutive years continue to be disclosed. - FY2024-Q3RestatedAnnual report
「① Maintain total equity in the consolidated statement of financial position at each consolidated fiscal year-end at or above 75% of the higher of total equity at the immediately preceding consolidated fiscal year-end or at the end of the fiscal year ending March 2023. ② Do not record an operating loss for 2 consecutive consolidated fiscal years.」
The covenants requiring maintenance of total equity at 75% or more and avoidance of operating losses for 2 consecutive consolidated fiscal years continue to be disclosed. - FY2024-Q2RestatedAnnual report
「① Maintain total equity in the consolidated statement of financial position at each consolidated fiscal year-end at or above 75% of the higher of total equity at the immediately preceding consolidated fiscal year-end or at the end of the fiscal year ending March 2023. ② Do not record an operating loss for 2 consecutive consolidated fiscal years.」
There has been no material change in the covenants requiring capital of at least 75% and avoidance of operating losses for 2 consecutive years. - FY2024-Q1First statedAnnual report
「① Maintain total equity in the consolidated statement of financial position at each consolidated fiscal year-end at or above 75% of the higher of total equity at the immediately preceding consolidated fiscal year-end or at the end of the fiscal year ending March 2023. ② Do not record an operating loss for 2 consecutive consolidated fiscal years.」
The long-term borrowing agreement requires total equity to be maintained at least at 75% of the reference amount and prohibits operating losses for 2 consecutive years.