Japan Excellent : Notice Concerning Debt Financing

For Immediate Release

For Translation Purposes Only

June 24, 2022

Japan Excellent, Inc. (TSE: 8987)

Shuichiro Kayama, Executive Director

Asset Management Company:

Japan Excellent Asset Management Co., Ltd.

Representative:

Shuichiro Kayama, President

Contact:

Kazue Horikawa

General Manager, Corporate Planning Dept.

TEL: [phone]

Notice Concerning Debt Financing

Japan Excellent, Inc. (hereinafter "JEI") announces the decision made today concerning new debt financing as follows.

1. Details of Debt Financing

							Principal	Borrowing
							Method,
		Loan	Interest Rate	Borrowing	Drawdown	Repayment
	Lender	Repayment
	Amount	(Note 1)	Period	Date	Date
		Method,
							(Note 2)
							Collateral
								Term loan
								agreement
Development Bank of Japan			1.053%		June 30,	June 30,	To be repaid in
¥2.0billion	Fixed	9.0years	full on the
Inc.		(Note 3)	2022	2031
				repayment date
								Unsecured /
								Non-guaranteed
	(Note 1) All figures have been rounded off to three decimal places.
	(Note 2) However, if the concerned date is not a business day, the subsequent business day; if this day falls within the following month, the
	business day immediately preceding the concerned date shall be the interest payment/principal repayment date.
	(Note 3) The interest rate is the provisional rate based on Base interest rate on June 23. The applicable rate will be disclosed if the rate will be
	changed from the provisional rate.

2. Purpose of Debt Financing

JEI intends to allocate the proceeds to the repayment of borrowing of ¥2.0billion described in "3. Total Amount to be Borrowed, Use of Proceeds and Scheduled Expenditure Date" below scheduled to fall due and payable on June 30, 2022.

3. Total Amount to be Borrowed, Use of Proceeds and Scheduled Expenditure Date

1. Total Amount to be Borrowed
   ¥2.0billion (JPY 2,000,000,000)
2. Detailed Use of Proceeds and Scheduled Expenditure Date

(i) Detailed Use of Proceeds	:	To be allocated to repayment of borrowing of ¥2.0billion (scheduled
		to fall due and payable on June 30, 2022).
(ii) Scheduled Expenditure Date	:	June 30, 2022

(Note) For details, please refer to 1-(2) of "Notice Concerning Debt Financing" dated July 23, 2014

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4. Status of Interest-bearing Debt after Financing

			(millions of yen)
	Before Drawdown	After Drawdown	Increase/ Decrease
Short-term borrowings	-	-	-
Long-term borrowings	87,600	87,600	-
Total borrowings	87,600	87,600	-
Investment corporation bonds	38,000	38,000	-
Total interest-bearing debt	125,600	125,600	-

*Long-term borrowings include those due within one year.

5. Other Matters Required for Investors to Appropriately Understand and Evaluate the above Information

There is no change to the content of "Risks in Investment" set forth in JEI's Securities Report (yuka shoken houkoku-sho) for the 31st Fiscal Period (ended December 31, 2021) submitted on March 18, 2022 with respect to the risks of this debt financing.

(End)

Japan Excellent, Inc. Website:https://www.excellent-reit.co.jp/en/

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