TOKYO, May 19 (Pulse News Wire) – Rent Corporation (372A.T) announced today that it has decided to enter into a term loan agreement with a financial covenant to meet its flexible funding needs for future business expansion. The agreement, scheduled to be finalized on May 19, 2026, involves a principal amount of ¥2 billion.
It will be structured through syndication led by Shizuoka Bank Co., Ltd. as agent, with participating financial institutions including Chiba Bank Co., Ltd., Iida Kansai Bank Co., Ltd., Hiroshima Bank Co., Ltd., Fukuoka Bank Co., Ltd., and Yokohama Bank Co., Ltd. The loan's tenure ends on May 26, 2026.
Under the financial covenant, the company is committed to maintaining its consolidated balance sheet equity at or above a certain level relative to the base year-end figure. Additionally, it must avoid consecutive ordinary losses in its annual consolidated income statements. The impact on the company’s consolidated performance from this agreement is expected to be minor.
Rent Corporation stated that it will promptly disclose any further developments requiring public notice.
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