Star Seas said consolidated subsidiary Star Seas Digital has agreed a new ¥500mn borrowing from Teos at a fixed 9.0% annual rate. The contract was signed and the funds were drawn on June 9, with one lump-sum repayment due on Sept. 8. The loan is unsecured, and the company expects ¥11.2mn of interest expense in consolidated results for the year ending February 2027.
| Feature | Detail |
|---|---|
| Borrower | Star Seas Digital |
| Lender | Teos |
| Amount | ¥500mn |
| Rate | Fixed 9.0% annual |
| Contract date | June 9, 2026 |
| Drawdown date | June 9, 2026 |
| Repayment date | Sept. 8, 2026 |
| Repayment method | Lump-sum at maturity |
| Collateral | None |
| Expected interest cost | ¥11.2mn in the year ending February 2027 |
The disclosure makes clear the borrowing sits at the subsidiary, not the listed parent. Star Seas said SSD's March borrowing had reached maturity, but the unit still needed funds to keep business moving. The company linked that need to continued transaction activity, including a large deal with a new counterparty in server-related products, and said the group's cumulative second-quarter performance was expected to come in above its initial plan.
Teos, the lender, is described as having no capital or personnel ties with Star Seas, although the company said it had previous money-lending contract dealings with the consolidated subsidiary.