Financial Covenants Attached to Borrowing Agreements
First written in FY2022-Q3. 12 of 15 entries say "Mitigated", first in FY2022. Latest entry: FY2026.
- FY2026MitigatedAnnual report
「The balance of borrowings under the agreement was ¥433,500 thousand.」
Borrowings subject to financial covenants remain outstanding, but the borrowing balance has decreased from the previously reported ¥484.500 million to ¥433.500 million. - FY2026-H1RestatedAnnual report
「The outstanding balance of borrowings under the agreement is ¥484.500 million.」
The Company continues to disclose the net asset maintenance covenant and the covenant prohibiting ordinary losses for 2 consecutive periods under the borrowing agreement containing financial covenants, and reports an outstanding borrowing balance of ¥484.500 million. - FY2025WorsenedAnnual report
「At a meeting of the Board of Directors held on 12 September 2025, the Company resolved to take out the following loan to fund the acquisition of shares in 株式会社メイズ. Loan amount: ¥510 million」
The previous borrowing balance was extinguished through repayment, while the Company resolved to take out a new ¥510 million loan to fund the acquisition of shares in 株式会社メイズ, resulting in the re-emergence of borrowing exposure subject to financial covenants. - FY2025-H1MitigatedAnnual report
「The outstanding balance of borrowings under the agreement is ¥20.815 million.」
The financial covenants remain in effect, but the outstanding balance of borrowings has decreased from the previously reported ¥45.817 million to ¥20.815 million. - FY2024MitigatedAnnual report
「The outstanding balance of borrowings under the agreement is ¥45.817 million.」
The financial covenants remain in effect, but the outstanding balance of borrowings has decreased from the previously reported ¥58.318 million to ¥45.817 million. - FY2024-Q3MitigatedAnnual report
「The outstanding balance of borrowings under the agreement is ¥58.318 million.」
The financial covenants remain in effect, but the outstanding balance of borrowings has decreased from the ¥70.819 million previously reported to ¥58.318 million. - FY2024-Q2MitigatedAnnual report
「The outstanding balance of borrowings under the agreement is ¥70.819 million.」
The financial covenants remain in effect, but the outstanding balance of borrowings has decreased from the ¥83.320 million previously reported to ¥70.819 million. - FY2024-Q1MitigatedAnnual report
「The outstanding balance of borrowings under the agreement is ¥83.320 million.」
The financial covenants remain in effect, but the outstanding balance of borrowings under the agreement has decreased from the ¥108.322 million previously reported to ¥83.320 million. - FY2023-Q3MitigatedAnnual report
「The outstanding balance of borrowings under the agreement is ¥108.322 million.」
The financial covenants remain in effect, but the outstanding balance of borrowings under the agreement has decreased from the ¥120.823 million previously reported to ¥108.322 million. - FY2023-Q2MitigatedAnnual report
「The outstanding balance of borrowings under the agreement is ¥120.823 million.」
The financial covenants remain in effect, but the outstanding balance of borrowings under the agreement has decreased from the ¥133.324 million previously reported to ¥120.823 million. - FY2023-Q1MitigatedAnnual report
「The outstanding balance of borrowings under the agreement is ¥133.324 million.」
The financial covenants remain in effect, but the outstanding balance of borrowings under the agreement has decreased from the ¥145.825 million previously reported to ¥133.324 million. - FY2022MitigatedAnnual report
「The outstanding balance of borrowings under the agreement is ¥145.825 million.」
The financial covenants remain in effect, but the outstanding balance of borrowings under the agreement has decreased from the ¥158.326 million previously reported to ¥145.825 million. - FY2022-Q3First statedAnnual report
「The loan agreement contains the following financial covenants. If any covenant is breached, all obligations under the agreement may become immediately due and payable.」
The covenants require net assets to be maintained at no less than 75% of the level in the same period of the previous year and prohibit operating loss, ordinary loss and net loss from all being recorded for 2 consecutive periods. The outstanding balance of borrowings under the agreement is ¥158.326 million.