TOKYO, May 19 (Pulse News Wire) – Kaihan CO.,LTD. (3133.T) resolved on May 19 to adjust the allocation and timing of funds raised through its ninth tranche of convertible bonds and second and third tranches of unsecured debentures, initially disclosed on February 20, 2026.
The changes primarily involve reallocating funds intended for fixed asset acquisitions in Nepal to repay borrowings related to convertible bond utilization. Specifically, the company decided to forego loans for fixed asset purchases in Nepal due to local partner Surya Maina Holding Pvt. Ltd.'s funding support until the company's convertible bond exercise progresses further. Additionally, more funds from the debentures will now be allocated towards operational expenses to ensure adequate staffing during expansion phases.
In detail, the total cost of the adjustments stands at 470 million yen. Key modifications include reducing the amount allocated for restaurant operations' working capital from 938 million yen to 750 million yen, shifting some funds originally earmarked for solar power equipment investments to repay borrowings, and adjusting the timeline for certain disbursements. The revised plan also includes allocating 1,000 million yen for potential mergers and acquisitions activities and increasing the repayment schedule for borrowed funds. The company stated that it continues to assess the impact of these changes on its fiscal year ending March 2027 and will disclose any significant effects promptly upon completion of the assessment.
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