Financial Covenants in Commitment Line Agreements
First written in FY2016. 15 of 19 entries say "Restated". Latest entry: FY2024.
- FY2024ReframedAnnual report
「The company has entered into a long-term commitment line agreement with 8 lending financial institutions covering the period from April 2024 to March 2027, to ensure flexibility and long-term stability in funding.」
In connection with the new ¥10 billion agreement, the reference for the financial covenants was updated to the end of the fiscal year ended September 2023. Net assets must be maintained at or above the higher of the reference amount and 70% of net assets at the end of the most recent fiscal year, and operating income must not be negative. - FY2024-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2024-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2022-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2021ReframedAnnual report
「The above commitment line agreement contains the following financial covenant: (1) The total amount of net assets shown on the company's non-consolidated balance sheet at each fiscal year-end and the end of the second quarter accounting period must be maintained at or above the higher of 70% of the total amount of net assets shown on the non-consolidated balance sheet at the end of the fiscal year ended September 2019 and 70% of the total amount of net assets shown on the non-consolidated balance sheet at the end of the most recent fiscal year.」
In connection with the new ¥8 billion commitment line agreement, the reference fiscal year for the financial covenants was updated to the end of the fiscal year ended September 2019, and the net asset requirement was changed to the higher of the reference amount and 70% of net assets at the end of the most recent fiscal year. - FY2021-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2021-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2020-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2020-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2019-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2019-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2018ReframedAnnual report
「(1) From the second quarter of the fiscal year ending September 2018 onward, the amount of net assets on the company's non-consolidated balance sheet at each fiscal year-end and the end of the second quarter accounting period must be maintained at or above 70% of the amount of net assets shown on the non-consolidated balance sheet at the end of the fiscal year ended September 2017.」
In connection with the new ¥5 billion commitment line agreement, the application period and reference fiscal year for the financial covenants were updated to the fiscal year ending September 2018 and the end of the fiscal year ended September 2017, respectively. - FY2018-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2018-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2018-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2017-Q3RestatedAnnual report
「No new business or other risks arose during the cumulative third quarter under review. In addition, there have been no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2017-Q2RestatedAnnual report
「During the first six months of the current consolidated fiscal year, there were no newly arising business or other risks. In addition, there were no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2017-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
No material changes are reported regarding the risks associated with the financial covenants under the commitment line agreement. - FY2016First statedAnnual report
「The above commitment line agreement contains the following financial covenants. (1) At each fiscal year-end and the end of the second quarter accounting period, the amount of net assets on the company's non-consolidated balance sheet must be maintained at or above 70% of the amount of net assets shown on the non-consolidated balance sheet at the end of the fiscal year ended September 2014. The amount of net assets shown on the consolidated balance sheet at each fiscal year-end and the end of the second quarter accounting period must likewise be maintained at or above 70% of the amount of net assets shown on the consolidated balance sheet at the end of the fiscal year ended September 2014. (2) Cumulative operating income for each second quarter accounting period, as reported in the consolidated and non-consolidated income statements, must not be less than ¥100 million. (3) Operating income reported in the consolidated and non-consolidated income statements at each fiscal year-end must not be a loss.」
The financial covenants require net assets of at least 70% of the reference amount, cumulative quarterly operating income of at least ¥100 million, and positive operating income at year-end; dividend payments are also restricted.