Financial covenants on the syndicated loan
First written in FY2016. 14 of 20 entries say "Restated". Latest entry: 2026-06-30.
- 2026-06-30AdvancedOccurring Fact
「For construction financing for the new Narita warehouse (provisional name)」
The Company disclosed plans to execute a ¥2,090 million loan agreement for borrowings related to the new Narita warehouse. After the borrowing is drawn on 15 July 2026, cumulative borrowings are expected to reach ¥5,260 million out of the total ¥5,300 million. The agreement also contains net worth and ordinary income covenants. The canonical thread is unchanged. - FY2026Executed a syndicated loan for the Narita new warehouseAnnual report
「On 29 March 2024, the company entered into a syndicated loan agreement to finance construction of a new warehouse in Narita, Chiba Prefecture.」
The company disclosed a committed syndicated loan for the Narita new warehouse with an original amount of ¥5.3 billion, an outstanding balance of ¥3.17 billion at fiscal year-end and a maturity date of 31 July 2041. The loan also contains net asset maintenance and ordinary income covenants. - FY2026-H1Increase in borrowings for construction of the Narita new warehouseAnnual report
「Ordinary income increased due to a decrease in outsourced operating service fees recorded as non-operating expenses in the same period of the previous year, despite the recognition of ¥80 million in interest expense as non-operating expenses, mainly due to increased borrowings related to construction of the Narita new warehouse, which is scheduled for completion in the next fiscal year.」
Borrowings related to construction of the Narita new warehouse, scheduled for completion in the next fiscal year, increased, and ¥80 million in interest expense was recognized. - FY2025Entered into a new ¥1.6 billion syndicated loan for a new warehouse in the United StatesAnnual report
「On 25 February 2025, the company entered into a syndicated loan agreement to finance construction of a new warehouse for its U.S. subsidiary.」
The company entered into a syndicated loan with an original amount of ¥1.6 billion and a maturity date of 28 February 2035 to finance construction of a new warehouse for its U.S. subsidiary. The loan carries a floating interest rate and is subject to existing financial covenants. - FY2022Financial covenants were also added to the commitment line.Annual report
「The commitment line agreement entered into by the company on 25 June 2021 contains the following financial covenant: The total amount of net assets shown under net assets in the consolidated balance sheet as of each fiscal year-end must be maintained at an amount equal to or greater than 75% of the total net assets shown under net assets in the consolidated balance sheet as of the most recent fiscal year-end.」
The company has disclosed that, in addition to the existing syndicated loan, the commitment line agreement also contains a financial covenant requiring net assets to be maintained at 75%. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2022-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2021-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2021-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2021-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2020-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2019-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2019-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2019-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2018-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2018-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2018-Q1RestatedAnnual report
「During the first quarter of the current consolidated cumulative period, there were no occurrences of matters that could materially affect investors’ investment decisions among the matters relating to the business and financial position described in this quarterly report, nor were there any material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company has disclosed that there have been no material changes in the risks related to the syndicated loan's financial covenants. - FY2017RestatedAnnual report
「The syndicated loan agreement entered into by the company on 28 March 2017 contains the following financial covenants: ① The total amount of net assets shown under net assets in the consolidated balance sheet as of each fiscal year-end must be maintained at an amount equal to or greater than 75% of net assets as of the end of the fiscal year ended March 2016. ② Ordinary income shown in the consolidated statement of income for each fiscal year must not be negative for two consecutive periods.」
The company has reconfirmed that the syndicated loan agreement contains financial covenants requiring net assets to be maintained at 75% and ordinary income not to be negative for two consecutive periods. - FY2016First statedAnnual report
「The company must not record losses in ordinary income for two consecutive periods in the consolidated statements of income for the fiscal year ended March 2012 and each subsequent fiscal year-end.」
The company disclosed financial covenants requiring that ordinary income not be negative for two consecutive periods and that net assets be maintained at or above 75% of the reference amount.