Bushiroad will borrow around $63 million (converted from ¥10 billion at today’s exchange rate) from a consortium of banks including Sumitomo Mitsui Banking Corporation, Mizuho Bank, Mitsubishi UFJ Bank and Higashi-Nippon Bank, according to GameBiz.
The new funding is to stabilize its financial foundation and fund growth, according to the report. The funds are on a five-year repayment plan; the loans required no collateral or guarantees. Bushiroad had over $140 million in cash at the end of December. Sales in its last fiscal year were over $350 million.
Source: ICv2
