Trial Holdings to Refinance Existing Debt Through Syndicated Loan Agreement

TOKYO, Jun 23 (Pulse News Wire) – Trial Holdings,inc. (141A.T) announced today that it has decided to refinance its existing debt through a syndicated loan agreement led by Mitsubishi UFJ Bank.

The refinancing aims to replace a one-year bridge loan set to mature on July 1, 2026. Under the terms of the agreement, which includes two tranches of loans totaling ¥317.4 billion ¥50.00 billion, the interest rate will be based on the three-month Japanese yen TIBOR plus a spread. Scheduled to close on June 26, 2026, the loans will be unsecured and repaid in equal installments every three months starting September 2026, over a ten-year period. The agreement also features financial covenants requiring the company to maintain its consolidated net assets at levels exceeding those of the previous fiscal year-end and avoid consecutive operating losses.

In connection with this refinancing, TRIAL Holdings expects to record approximately ¥5.511 billion in extraordinary expenses related to borrowing costs during the fiscal year ending June 30, 2026. These costs were already included in the previously disclosed earnings forecast for the same period. Looking ahead, the company stated that the interest rates agreed upon fall within the range anticipated in its mid-term business plan announced on February 12, 2026. Additionally, TRIAL Holdings plans to hedge against future interest rate fluctuations by implementing interest rate swaps to fix part of the loan's cost.

Any significant developments will be promptly disclosed.