KATITAS CO., Ltd. Announces the Conclusion of A Changing Syndicated Loan Agreement
March 31, 2023 at 02:00 am EDT
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KATITAS Co., Ltd. announced that it has concluded a changing syndicated loan agreement on March 31, 2023. The Company also provides notice that it plans to record commission fees associated with the Agreement as non-operating expenses. The KATITAS Group believes that stable financing is important for long-term business expansion and corporate value enhancement. Accordingly, the Group concluded a syndicated loan agreement on March 25, 2022. The Group reached the decision to enter into its current agreement (concluded on March 31, 2023) because it anticipates a need for an increase in working capital as it strives to achieve business expansion. Through this agreement, the Company expects to establish a stable and dynamic financing structure that will further facilitate future business expansion and corporate value enhancements. Maximum amount of the commitment line is ¥8 billion. Agreement date is March 31, 2023.
Execution date is March 31, 2023. Date of repayment is March 29, 2024.
KATITAS CO., LTD is a Japan-based company mainly engaged in the remodel of used homes. The Used Home Remodel segment is engaged in the purchase, renovating and distribution of used homes. The segment consists of purchase business, commercialization business and distribution business. The purchase methods of properties consist of purchase and auction. The commercialization business consists of the planning and construction of outside works, such as parking lots expansion and others. The distribution business conducts the distribution of used homes through in-house and intermediary sales.