PowerX, Inc, the Tokyo-listed company trading under ticker 485A, drew ¥7.0bn from a syndicated commitment line on August 17, 2026, and used the proceeds to repay ¥6.0bn of existing borrowing. The company filed the move as an extraordinary report with the Kanto Local Finance Bureau, and the mechanics look less like fresh capital than a swap of one short-term facility for another.
The new loan comes from an ¥8.0bn syndicated commitment line arranged by Mizuho Bank. It carries a tight leash: repayment is due September 17, 2026, exactly one month after the draw, even though the underlying commitment period itself runs from March 31, 2026 to March 31, 2027.
| Feature | Detail |
|---|---|
| Facility type | Syndicated commitment line arranged by Mizuho Bank |
| Total facility size | ¥8.0bn |
| New borrowing executed | ¥7.0bn (August 17, 2026) |
| Existing debt repaid | ¥6.0bn |
| Repayment deadline | September 17, 2026 |
| Commitment period | March 31, 2026 to March 31, 2027 |
| Collateral | Company-owned real estate and accounts receivable |
| Financial covenant | Positive consolidated net assets at each month-end from March 2026 |
PowerX pledged company-owned real estate and accounts receivable as collateral for the borrowing. The facility also carries a financial covenant requiring the company to keep consolidated net assets positive at the end of every month starting in March 2026, a condition that leaves little margin for a balance-sheet slip while the commitment line stays open.
The report is PowerX's original submission on this borrowing, not an amendment. It does not disclose the interest rate on the new draw or name the full syndicate beyond Mizuho as arranger. With the loan itself due back within weeks, the open question is what replaces this short-term line once September 17 arrives.