Verite Co., Ltd.
Notice of Execution of a Loan Agreement with Financial Covenants
Entered into a loan agreement with financial covenants. Will repay existing 700 million yen and undertake a new 3-month borrowing. Required to comply with two financial conditions; scheduled to fully repay after 3 months, with minimal expected impact.
Key Figures
- 700 million yen: Repay existing borrowing and transition to new borrowing
- 3 months: Loan term
- 2027-01-29: Repayment deadline
AI要約
Overview
Verite Co., Ltd. has decided to repay an existing borrowing of 700 million yen under a revolving credit facility with MUFG Bank and to newly borrow funds for working capital for a period of 3 months. The signing date is scheduled for October 30, 2026. There is no collateral.
Financial covenants and impact
As financial covenants, the company is required to maintain total net assets at 75% or more of the greater of the balance at the end of the fiscal year ended March 2025 or the previous fiscal year-end, and to maintain ordinary income at 0 yen or higher each fiscal year. If these covenants are breached, the lender may demand loss of the benefit of term. The new borrowing is intended to secure short-term working capital, and the impact on business performance is expected to be minimal.
Verite Co., Ltd.
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