CORREC Co., Ltd.
Notice regarding the conclusion of a money lending agreement with financial covenants
To fund the acquisition of energy storage system equipment, a term loan with a feasible execution period of 675 million yen is to be concluded by September 28, 2026. Counterparty: MUFG Bank. Financial covenants require maintaining net assets at least 75% of the previous year and avoiding two consecutive quarters of operating losses. Impact on consolidated results for the fiscal year ending February 2027 is expected to be minor.
Key Figures
- 債務の元本: 675 百万円
- 弁済期限: 2036 年９月 30 日
- 財務上の特約: 純資産を前年同期比75％以上維持、営業損益2期連続して黒字を確保
- 相手先: 三菱 UFJ 銀行
AI要約
Key points of financing and financial contract
At today's Board of Directors meeting, it was resolved to enter into a feasible-term loan intended for funding entry into the grid-scale storage battery business and for acquiring storage battery equipment. Counterparty is MUFG Bank, with principal of 675 million yen and a repayment date of September 30, 2036. Collateral: none. Financial covenants require maintaining consolidated net assets at end of fiscal year at least 75% of the previous year, and ensuring the consolidated statement of earnings does not record a loss for two consecutive periods.
Impact and disclosure going forward
The impact of this agreement on the consolidated results for the Fiscal Year ending February 2027 is expected to be minor, and we will promptly disclose if any new facts arise. At present, specific figures for sales and profits have not been disclosed.
CORREC Co., Ltd.
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