Collateral and financial covenants under commitment lines
First written in FY2016. 5 of 7 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2017: 8 of 65 companies on the "Worse" side.
47 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「We have entered into loan agreements containing the following financial covenants, and as of the end of the current consolidated fiscal year there was no fact indicating a breach of any financial covenant.」
The company disclosed multiple loan agreements with financial covenants and stated that none of the covenants had been breached as of the end of the current fiscal year. - FY2026-H1Entered into loan agreements with financial covenantsAnnual report
「During the six months ended the second quarter of the current fiscal year, we entered into a loan agreement containing financial covenants. Counterparty type: financial institution. Agreement date: 26 September 2025. Drawdown date: 30 September 2025. Principal amount: ¥1 billion. Maturity date: 30 September 2030. Collateral: real estate, including the land and buildings at the head office. Covenants: At each fiscal year-end, the amount of net assets shown in the unconsolidated balance sheet must be maintained at 75% or more of the amount of net assets shown in the unconsolidated balance sheet at the end of the previous fiscal year.」
The company disclosed a ¥1 billion loan agreement with financial covenants, including a requirement to maintain unconsolidated net assets at 75% or more of the previous year-end level, as well as real estate collateral. A separate ¥400 million loan agreement is also described. - FY2025RestatedAnnual report
「Based on the financial results for the current consolidated fiscal year, the likelihood of breaching those covenants appears extremely low. However, if they are breached, the company may be asked to repay its borrowings.」
The company continues to recognize that the likelihood of breaching the collateral-related and financial covenants under the commitment lines is low, while noting the risk of a repayment demand in the event of a breach. - FY2023RestatedAnnual report
「Based on the financial results for the current consolidated fiscal year, the likelihood of breaching those covenants appears extremely low. However, if they are breached, the company may be asked to repay its borrowings, which could affect the Group's financial condition.」
The company has reconfirmed its view that the likelihood of breaching the financial covenants is low, as well as the risk of a repayment demand in the event of a breach. - FY2022RestatedAnnual report
「We have established commitment lines with a banking consortium, and the agreements contain collateral-related covenants and financial covenants. Based on the financial results for the current consolidated fiscal year, the likelihood of breaching those covenants appears extremely low. However, if they are breached, the company may be asked to repay its borrowings, which could affect the Group's financial condition.」
The company has reconfirmed its view that the likelihood of breaching the covenants is low, as well as the risk of a demand for repayment of borrowings in the event of a breach. - FY2018RestatedAnnual report
「Based on the financial results for the current consolidated fiscal year, the likelihood of breaching those covenants appears extremely low. However, if they are breached, the company may be asked to repay its borrowings, which could affect the Group's financial condition.」
The company continues to explain that the likelihood of breaching the collateral-related and financial covenants under the commitment lines is low, while noting the risk of a repayment demand in the event of a breach. - FY2016First statedAnnual report
「We have established commitment lines with a banking consortium, and the agreements contain collateral-related covenants and financial covenants.」
The company discloses the possibility of being asked to repay borrowings if the covenants are breached, while stating that the likelihood of a breach is extremely low based on the current fiscal year's financial results.