Financial covenant risks associated with syndicated loans
First written in FY2017-Q1. 5 of 33 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2017: 8 of 54 companies on the "Worse" side.
13 other companies' latest entry also says "Other".
- FY2026Loan agreement updatedAnnual report
「1. The Company has entered into a ¥9.4 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement contains the financial covenants set out below.」
The 5-bank agreement was updated from the previous ¥9.7 billion to ¥9.4 billion, and the 8-bank agreement from the previous ¥4.9 billion to ¥4.2 billion. The covenant requiring shareholders’ equity to be maintained at 75% or more of the prior-year level, among other measures, and the possibility of a repayment request in the event of a breach remain in place. - FY2026-H1Loan agreement updatedAnnual report
「1. The Company has entered into a ¥9.7 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement contains the financial covenants set out below.」
The 5-bank agreement subject to financial covenants was updated from the previous ¥10.4 billion to ¥9.7 billion, and the 8-bank agreement from ¥6.2 billion to ¥4.9 billion. The covenant requiring shareholders’ equity to be maintained at 75% or more of the prior-year level, among other measures, and the possibility of a repayment request in the event of a breach remain in place. - FY2025-H1Loan agreement amounts and financial covenants updatedAnnual report
「1. The Company has entered into ¥10.4 billion loan agreements with 5 financial institutions as long-term borrowings, and the agreements contain the financial covenants set out below. The Company is working to strengthen its financial position through stable management, but if it breaches the covenants, it may be required to repay the borrowings. 2. The Company has entered into ¥6.2 billion loan agreements with 8 financial institutions as long-term borrowings, and the agreements contain the financial covenants set out below. The Company is working to strengthen its financial position through stable management, but if it breaches the covenants, it may be required to repay the borrowings.」
The loan agreements subject to financial covenants were updated to ¥10.4 billion for the 5-bank agreement and ¥6.2 billion for the 8-bank agreement. The covenant requiring shareholders’ equity to be maintained at 75% or more of the prior-year level, among other measures, and the possibility of a repayment request in the event of a breach remain in place. - FY2025-Q1Loan agreement amounts and financial covenants updatedAnnual report
「1. The Company has entered into a ¥10.6 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. 2. The Company has entered into a ¥6.6 billion loan agreement with 8 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
For the loan agreements with financial covenants, the 5-bank agreement was updated from ¥10.8 billion to ¥10.6 billion, and the 8-bank agreement from ¥6.8 billion to ¥6.6 billion. The covenant requiring net assets to be maintained at 75% or more based on the level in the same period of the previous year and other benchmarks, as well as the possibility of a repayment demand in the event of a breach, remains in place. - FY2024Loan agreement updatedAnnual report
「1. The Company has entered into a ¥10.8 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
The 5-bank agreement with financial covenants was updated from ¥11 billion to ¥10.8 billion, and the 8-bank agreement from ¥7.1 billion to ¥6.8 billion. The 5-bank agreement continues to require consolidated and company-only net assets to be maintained at 75% or more of both the level in the same period of the previous year and the level at the end of the fiscal year ending February 2022. The 8-bank agreement continues to require consolidated shareholders' equity to be maintained at ¥40 billion or more. - FY2024-Q3Loan agreement updatedAnnual report
「1. The Company has entered into a ¥11 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. 2. The Company has entered into a ¥7.1 billion loan agreement with 8 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
For the loan agreements with financial covenants and the possibility of a repayment demand in the event of a breach, the 5-bank agreement was updated from ¥11.1 billion to ¥11 billion, and the 8-bank agreement from ¥7.4 billion to ¥7.1 billion. The 5-bank agreement continues to include a covenant requiring consolidated and company-only net assets to be maintained at 75% or more, while the 8-bank agreement continues to include a covenant requiring consolidated shareholders' equity to be maintained at ¥40 billion or more. - FY2024-Q2Loan agreement updatedAnnual report
「1. The Company has entered into a ¥11.1 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. 2. The Company has entered into a ¥7.4 billion loan agreement with 8 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
For the loan agreements with financial covenants, the 5-bank agreement was updated from ¥11.3 billion to ¥11.1 billion, and the 8-bank agreement from ¥7.7 billion to ¥7.4 billion. The 5-bank agreement continues to include a covenant requiring consolidated and company-only net assets to be maintained at 75% or more, while the 8-bank agreement continues to include a covenant requiring consolidated shareholders' equity to be maintained at ¥40 billion or more. - FY2024-Q1Loan agreement amounts and financial covenants updatedAnnual report
「1. The Company has entered into a ¥11.3 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. The Company is working to strengthen its financial position through stable management, but if the covenants are breached, the Company may be required to repay the borrowings. 2. The Company has entered into a ¥7.7 billion loan agreement with 8 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
The 5-bank agreement was updated from ¥11.5 billion to ¥11.3 billion, and the 8-bank agreement from ¥8 billion to ¥7.7 billion. The 5-bank agreement includes a covenant requiring consolidated and company-only net assets to be maintained at 75% or more of both the level in the same period of the previous year and the level at the end of the fiscal year ending February 2022. The 8-bank agreement includes a covenant requiring consolidated shareholders' equity to be maintained at ¥40 billion or more. - FY2023Loan agreement updatedAnnual report
「1. The Company has entered into a ¥11.5 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
The agreement amount with 5 financial institutions was updated from ¥11.7 billion to ¥11.5 billion, and the agreement amount with 8 financial institutions from ¥8.3 billion to ¥8 billion. For both agreements, the covenant requiring shareholders' equity to be maintained at ¥40 billion or more and the possibility of a repayment demand in the event of a breach remain in place. - FY2023-Q3Loan agreement updatedAnnual report
「1. The Company has entered into a ¥11.7 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
For the loan agreements with financial covenants and the possibility of a repayment demand in the event of a breach, the 5-bank agreement was updated from ¥11.8 billion to ¥11.7 billion, and the 8-bank agreement from ¥8.6 billion to ¥8.3 billion. The covenant requiring shareholders' equity to be maintained at ¥40 billion or more remains in place. - FY2023-Q2Loan agreement updatedAnnual report
「1. The Company has entered into a ¥11.8 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. 2. The Company has entered into a ¥8.6 billion loan agreement with 8 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
For the loan agreements with financial covenants and the possibility of a repayment demand in the event of a breach, the 5-bank agreement was updated from ¥12 billion to ¥11.8 billion, and the 8-bank agreement from ¥8.9 billion to ¥8.6 billion. The covenant requiring shareholders' equity to be maintained at ¥40 billion or more remains in place. - FY2023-Q1Loan agreement updatedAnnual report
「1. The Company has entered into a ¥12 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. 2. The Company has entered into a ¥8.9 billion loan agreement with 8 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
For the loan agreements with financial covenants and the possibility of a repayment demand in the event of a breach, the 5-bank agreement was updated from ¥12.2 billion to ¥12 billion, and the 8-bank agreement from ¥9.1 billion to ¥8.9 billion. The covenant requiring shareholders' equity to be maintained at ¥40 billion or more remains in place. - FY2022Loan agreement updatedAnnual report
「1. The Company has entered into a ¥12.2 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. 2. The Company has entered into a ¥9.1 billion loan agreement with 8 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
For the loan agreements with financial covenants and the possibility of a repayment demand in the event of a breach, the 5-bank agreement was updated from ¥12.4 billion to ¥12.2 billion, and the 8-bank agreement from ¥9.4 billion to ¥9.1 billion. The covenant requiring shareholders' equity to be maintained at ¥40 billion or more remains in place. - FY2022-Q3Loan agreement updatedAnnual report
「1. The Company has entered into a ¥12.4 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. The Company is working to strengthen its financial position through stable management, but if the covenants are breached, the Company may be required to repay the borrowings. The amount of shareholders' equity in the shareholders' equity section of the consolidated balance sheet at the end of each consolidated fiscal year and each second-quarter consolidated accounting period must be maintained at ¥40 billion or more. 2. The Company has entered into a ¥9.4 billion loan agreement with 8 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. The Company is working to strengthen its financial position through stable management, but if the covenants are breached, the Company may be required to repay the borrowings. The amount of shareholders' equity in the shareholders' equity section of the consolidated balance sheet at the end of each consolidated fiscal year and each second-quarter consolidated accounting period must be maintained at ¥40 billion or more.」
For the loan agreements with financial covenants, the agreement amount with 5 financial institutions was updated from ¥12.5 billion to ¥12.4 billion, and the agreement amount with 8 financial institutions from ¥9.7 billion to ¥9.4 billion. The requirement to maintain shareholders' equity at ¥40 billion or more and the possibility of a repayment demand in the event of a breach remain in place. - FY2022-Q2Loan agreement updatedAnnual report
「1. The Company has entered into a ¥12.5 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. 2. The Company has entered into a ¥9.7 billion loan agreement with 8 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below.」
For the loan agreements with financial covenants and the possibility of a repayment demand in the event of a breach, the 5-bank agreement was updated from ¥12.7 billion to ¥12.5 billion, and the 8-bank agreement from ¥10 billion to ¥9.7 billion. The covenant requiring shareholders' equity to be maintained at ¥40 billion or more remains in place. - FY2022-Q1Loan agreement updatedAnnual report
「1. The Company has entered into a ¥12.7 billion loan agreement with 5 financial institutions as long-term borrowings, and the agreement includes the financial covenants set out below. The Company is working to strengthen its financial position through stable management, but if the covenants are breached, the Company may be required to repay the borrowings. The amount of shareholders' equity in the shareholders' equity section of the consolidated balance sheet at the end of each consolidated fiscal year and each second-quarter consolidated accounting period must be maintained at ¥50 billion or more. For periods from the second quarter of the fiscal year ending February 2022 onward, the amount of shareholders' equity in the shareholders' equity section of the consolidated balance sheet at the end of each consolidated fiscal year and each second-quarter consolidated accounting period must be maintained at ¥40 billion or more.」
For the loan agreements with financial covenants, the agreement amount with 5 financial institutions was updated from ¥12.9 billion to ¥12.7 billion, and the agreement amount with 8 financial institutions from ¥10.3 billion to ¥10 billion. The requirements to maintain shareholders' equity at ¥50 billion or more, and at ¥40 billion or more from the second quarter of the fiscal year ending February 2022 onward, remain in place. - FY2021Loan agreement amounts updatedAnnual report
「The Company has entered into a ¥12.9 billion loan agreement with 5 financial institutions as long-term borrowings. The agreement includes the financial covenants set out below.」
The 5-bank agreement was updated to ¥12.9 billion and the 8-bank agreement to ¥10.3 billion. The covenants requiring shareholders' equity to be maintained at ¥50 billion or more, and at ¥40 billion or more from the second quarter of the fiscal year ending February 2022 onward, as well as the possibility of a repayment demand in the event of a breach, remain in place. - FY2021-Q3Loan agreement amounts updatedAnnual report
「The Company has entered into a ¥13.1 billion loan agreement with 5 financial institutions as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings. The amount of shareholders' equity in the shareholders' equity section of the consolidated balance sheet at the end of each consolidated fiscal year and each second-quarter consolidated accounting period must be maintained at ¥50 billion or more. For periods from the second quarter of the fiscal year ending February 2022 onward, the amount of shareholders' equity in the shareholders' equity section of the consolidated balance sheet at the end of each consolidated fiscal year and each second-quarter consolidated accounting period must be maintained at ¥40 billion or more. 2. The Company has entered into a ¥10.6 billion loan agreement with 8 financial institutions as long-term borrowings.」
For the agreements with financial covenants and the possibility of a repayment demand in the event of a breach, the 5-bank agreement was updated to ¥13.1 billion and the 8-bank agreement to ¥10.6 billion. The requirements to maintain shareholders' equity at ¥50 billion or more, and at ¥40 billion or more from the second quarter of the fiscal year ending February 2022 onward, remain in place. - FY2021-Q2Loan agreement amounts and financial covenants updatedAnnual report
「The Company has entered into a ¥13.2 billion loan agreement with 5 financial institutions as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings. The amount of shareholders' equity in the shareholders' equity section of the consolidated balance sheet at the end of each consolidated fiscal year and each second-quarter consolidated accounting period must be maintained at ¥50 billion or more. For periods from the second quarter of the fiscal year ending February 2022 onward, the amount of shareholders' equity in the shareholders' equity section of the consolidated balance sheet at the end of each consolidated fiscal year and each second-quarter consolidated accounting period must be maintained at ¥40 billion or more.」
The 5-bank agreement was updated to ¥13.2 billion and the 8-bank agreement to ¥10.9 billion. The financial covenant was also changed from maintaining net assets to maintaining shareholders' equity at ¥50 billion or more. A transitional provision setting the threshold at ¥40 billion or more from the second quarter of the fiscal year ending February 2022 onward was indicated. - FY2021-Q1Loan agreement amounts and structure updatedAnnual report
「1. The Company has entered into a ¥13.4 billion loan agreement with 5 financial institutions as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings. 2. The Company has entered into a ¥11.1 billion loan agreement with 8 financial institutions as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings.」
For the agreements with financial covenants and the possibility of a repayment demand in the event of a breach, the 5-bank agreement was updated from ¥13.6 billion to ¥13.4 billion, and the 8-bank agreement from ¥11.4 billion to ¥11.1 billion. - FY2020Loan agreement amounts updatedAnnual report
「1. The Company has entered into a ¥3.1 billion syndicated loan agreement with multiple financial institutions as long-term borrowings. 2. The Company has entered into a ¥13.6 billion loan agreement with 5 financial institutions as long-term borrowings. 3. The Company has entered into a ¥11.4 billion loan agreement with 8 financial institutions as long-term borrowings.」
The report gives contract amounts of ¥3.1 billion, ¥13.6 billion and ¥11.4 billion for agreements with financial covenants and the possibility of a repayment demand in the event of a breach, updated from ¥3.2 billion, ¥13.8 billion and ¥11.7 billion in the previous report. - FY2020-Q3Loan agreement amounts updatedAnnual report
「1. The Company has entered into a ¥3.2 billion syndicated loan agreement with multiple financial institutions as long-term borrowings. 2. The Company has entered into a ¥13.8 billion loan agreement with 5 financial institutions as long-term borrowings. 3. The Company has entered into a ¥11.7 billion loan agreement with 8 financial institutions as long-term borrowings.」
The report gives amounts of ¥3.2 billion, ¥13.8 billion and ¥11.7 billion for agreements with financial covenants and the possibility of a repayment demand in the event of a breach, updated from ¥3.3 billion, ¥13.9 billion and ¥12 billion in the previous report. - FY2020-Q2Loan agreement amounts updatedAnnual report
「1. The Company has entered into a ¥3.3 billion syndicated loan agreement with multiple financial institutions as long-term borrowings. 2. The Company has entered into a ¥13.9 billion loan agreement with 5 financial institutions as long-term borrowings. 3. The Company has entered into a ¥12 billion loan agreement with 8 financial institutions as long-term borrowings.」
The report gives amounts of ¥3.3 billion, ¥13.9 billion and ¥12 billion for agreements with financial covenants and the possibility of a repayment demand in the event of a breach. The amounts were updated from the previous quarter. - FY2020-Q1Loan agreement structure and amounts updatedAnnual report
「1. The Company has entered into a ¥3.5 billion syndicated loan agreement with multiple financial institutions as long-term borrowings. 2. The Company has entered into a ¥14.1 billion loan agreement with 5 financial institutions as long-term borrowings. 3. The Company has entered into a ¥12.3 billion loan agreement with 8 financial institutions as long-term borrowings.」
The report describes 3 agreements with financial covenants and the possibility of a repayment demand in the event of a breach, in amounts of ¥3.5 billion, ¥14.1 billion and ¥12.3 billion. The structure and amounts were updated from the previously reported ¥14.8 billion agreement. - FY2019-Q3RestatedAnnual report
「1. The Company entered into a ¥14.8 billion loan agreement with 5 financial institutions as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings.」
The same details continue to be provided regarding the ¥14.8 billion agreement with 5 financial institutions, the covenant requiring net assets to be maintained at 75% or more of both the level in the same period of the previous year and the level for the fiscal year ending February 2017, and the possibility of a repayment demand in the event of a breach. - FY2019-Q2RestatedAnnual report
「1. The Company entered into a ¥14.8 billion loan agreement with 5 financial institutions as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings.」
The same details are provided regarding the ¥14.8 billion agreement with 5 financial institutions, the covenant requiring net assets to be maintained at 75% or more of both the level in the same period of the previous year and the level for the fiscal year ending February 2017, and the possibility of a repayment demand in the event of a breach. - FY2019-Q1Updated to a ¥14.8 billion loan agreementAnnual report
「The Company entered into a ¥14.8 billion loan agreement with 5 financial institutions as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings.」
The report was updated from the previous descriptions of the ¥1.5 billion term loan and other facilities to describe the ¥14.8 billion agreement with 5 financial institutions and the financial covenant requiring net assets to be maintained at 75% or more. - FY2018-Q3RestatedAnnual report
「The Company entered into a ¥1.5 billion term loan agreement with a financial institution as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings.」
The ¥1.5 billion term loan agreement, the covenant requiring net assets to be maintained at 75% or more of both the level in the same period of the previous year and the level for the fiscal year ending February 2016, and the possibility of a repayment demand in the event of a breach continue to be described. - FY2018-Q1Additional ¥1.5 billion term loan agreementAnnual report
「1. The Company entered into a ¥1.5 billion term loan agreement with a financial institution as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings.」
A new ¥1.5 billion term loan agreement is described, together with a financial covenant requiring net assets on both a company-only and consolidated basis to be maintained at 75% or more of the level in the same period of the previous year and the level for the fiscal year ending February 2016, and the possibility of a repayment demand in the event of a breach. - FY2017Loan agreement and financial covenant updatedAnnual report
「The Company has entered into syndicated loan agreements of ¥800 million and ¥400 million with multiple financial institutions as long-term borrowings.」
In addition to the previously reported ¥5 billion agreement, the report describes syndicated loans of ¥800 million, ¥400 million and ¥4.6 billion, a ¥500 million subordinated specified corporate bond issued by a subsidiary, and a ¥22.1 billion non-recourse loan, together with financial covenants and the possibility of repayment or redemption demands in the event of a breach. - FY2017-Q3RestatedAnnual report
「The Company entered into a ¥5 billion syndicated loan agreement with multiple financial institutions as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings.」
The same details are provided regarding the ¥5 billion syndicated loan, the covenant requiring net assets to be maintained at 75% or more of both the level in the same period of the previous year and the level for the fiscal year ended February 2015, and the possibility of a repayment demand in the event of a breach. - FY2017-Q2RestatedAnnual report
「The Company entered into a ¥5 billion syndicated loan agreement with multiple financial institutions as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings.」
The same details are provided regarding the ¥5 billion syndicated loan, the covenant requiring net assets to be maintained at 75% or more of both the level in the same period of the previous year and the level for the fiscal year ended February 2015, and the possibility of a repayment demand in the event of a breach. - FY2017-Q1First statedAnnual report
「The Company entered into a ¥5 billion syndicated loan agreement with multiple financial institutions as long-term borrowings. The agreement includes the financial covenants set out below, and if they are breached, the Company may be required to repay the borrowings.」
For the ¥5 billion loan agreement, the report describes a financial covenant requiring net assets to be maintained at 75% or more of the level in the same period of the previous year and 75% or more of the level for the fiscal year ended February 2015, as well as the possibility of a repayment demand in the event of a breach.