Progrit Secures Loan for Share Repurchase
TOKYO, Jul 10 (Pulse News Wire) – Progrit Inc. (9560.T) announced that its board of directors has approved a loan agreement aimed at funding the previously disclosed share repurchase plan dated July 9
TOKYO, Jul 10 (Pulse News Wire) – Progrit Inc. (9560.T) announced that its board of directors has approved a loan agreement aimed at funding the previously disclosed share repurchase plan dated July 9, 2026.
The loan, secured from Sumitomo Mitsui Banking Corporation, amounts to ¥664 million. It carries a variable interest rate based on benchmark rates plus a spread stipulated in the contract.
The repayment schedule includes equal principal payments, with the final maturity set for June 30, 2031. Notably, the transaction does not require collateral.
In a statement, CFO Ryota Tanai highlighted that while the impact on consolidated earnings is expected to be minor, Progrit remains committed to transparent communication and will promptly disclose any significant developments related to this financing arrangement.