Net Protections, the deferred-payment subsidiary of Net Protections Holdings (TSE: 7383), told the Tokyo Stock Exchange on September 18, 2026 that its board had approved extending the maturity on its syndicated term loan and commitment line by three months, from September 30 to December 30, 2026.
The two facilities, a ¥5bn term loan used for refinancing and a ¥7bn working-capital commitment line, were originally signed in March 2022 with Sumitomo Mitsui Banking Corporation as arranger and agent, alongside Sumitomo Mitsui Trust Bank, MUFG Bank, Mizuho Bank and Resona Bank. The amendment, due to be signed September 25, changes only the maturity date. Loan sizes, use of proceeds, and the lending syndicate stay the same.
| Facility | Size | Purpose | Maturity |
|---|---|---|---|
| Term loan | ¥5bn | Refinancing | Sept 30, 2026 → Dec 30, 2026 |
| Commitment line | ¥7bn (limit) | Working capital | Sept 30, 2026 → Dec 30, 2026 |
The financial covenants also carry over unchanged: the guarantor, Net Protections Holdings, must keep its consolidated net assets at or above 75% of their level at the end of March 2022, and its adjusted EBITDA cannot turn negative for two consecutive fiscal year-ends. Both facilities remain unsecured, relying on that same parent guarantee.
Management framed the extension as a bridge. The group said it is in active talks with related financial institutions to rebuild its funding and cash-management arrangements into what it called a more sophisticated and flexible framework, and the three-month extension buys time for those talks to conclude. The company said the effect on this year's consolidated results is minor.
What the eventual funding framework will look like, and whether pricing or covenant terms move once talks finish, has not been disclosed.