Nakayama Steel Works TO SIGN COMMITMENT LINE AGREEMENT BY AUGUST 31

TOKYO, Aug 07 (Pulse News Wire) – Nakayama Steel Works,ltd. (5408.T) resolved at its board meeting held on August 07 to enter into a commitment line agreement with participating banks by August 31, 2026.

The agreement aims to secure funding for a joint venture company, NN Steel General Partnership, which will invest in a new electric furnace. Key details of the agreement include: - A syndicated commitment line arrangement led by Mitsubishi UFJ Bank - Maximum borrowing limit of ¥49.80 billion - Contract duration from August 31, 2026, to April 30, 2031 - Funding purposes: purchase of new electric furnace equipment and construction of buildings, including land lease rights - Financial covenants: maintaining net assets at least 75% higher compared to the previous fiscal year or base period (fiscal year ending March 2026); avoiding consecutive red ink in ordinary profit for two fiscal periods Nakayama expects minimal impact on its performance forecast for the fiscal year ending March 2027 due to this contract.

Any significant developments will be disclosed promptly.