SUMIDA: Investor News
Notice Concerning Voluntary Repayment of Perpetual Subordinated Loan
December 25th 2023 Press ReleaseSUMIDA CORPORATION (“SUMIDA”) today announced that it has voluntarily repaid all the principal of the perpetual subordinated loan (the "Subordinated Loan") that was procured in December 2020.
Reasons for the voluntary repayment of the Subordinated Loan
The purpose of the Subordinated Loan is to stabilize the SUMIDA's financial base in the medium to long term, in line with the management policy of both promoting growth strategies and maintaining financial soundness set forth in the Mid-Term Business Plan announced on February 14, 2018.
Since the Subordinated Loan was procured, the financial base has been strengthened along with the expansion of the business scale. SUMIDA considers that the purpose of the Subordinated Loan has been achieved and has decided to repay the Subordinated Loan on a voluntary basis.
For reference
| (1) Amount | 5 billion yen |
| (2) Contract date | December 22, 2020 |
| (3) Execution date | December 25, 2020 |
| (4) Repayment date | No repayment date specified Provided, however, that on each interest payment date, optional repayment of all or part of the principal is possible |
| (5) Use of funds | Capital investments and repayment of the existing loans |
| (6) Interest rate | Variable interest rate base on 3-month Japanese yen TIBOR |
| (7) Clauses relating to interest payment | Optional deferral of interest payment is possible |
| (8) Lender | Sumitomo Mitsui Banking Corporation Development Bank of Japan Inc Mizuho Leasing Company, Limited |