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TYO:5074

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Asia

Tess Holdings Subsidiary Secures New Loan Agreement

Tess Holdings (TYO:5074) subsidiary Tess Engineering will execute a loan agreement to secure working capital, according to a Friday filing with the Japanese bourse.The agreement with a syndicate of lenders arranged by Sumitomo Mitsui Banking Corporation provides a commitment line of 15.4 billion yen without collateral. Tess Engineering drew 9.24 billion yen under the facility on Friday for repayment Oct. 30.Shares of Tess Holdings fell nearly 3% at market close.

TYO:5074
Asia

Tess Cancels 4 Billion Yen Grid Storage EPC Contract on Viability Concerns

Tess (TYO:5074) has agreed to cancel a 4 billion yen engineering, procurement, and construction (EPC) contract for a Kumamoto power storage plant, after the customer deemed it commercially unviable.The cancellation followed a technical review that showed grid connection costs and timelines would far exceed initial expectations, according to a Tokyo bourse filing on Friday.The mutual decision to cancel the project, which was originally mooted in April 2025, was due to external grid issues and the DEI Battery Fund Alpha's business decision, not TESS Engineering's performance.The cancellation's impact has already been reflected in the company's consolidated forecast for the fiscal year ending June 2027.

TYO:5074
Asia

Tess Says No Injuries or Facility Damage After Kumamoto Quake

Tess (TYO:5074) said there are no injuries or facility damage at its Kyushu-area offices, power plants, or construction sites following the July 28 Kumamoto earthquake, based on information gathered so far.The company said on-site inspections are ongoing and will disclose any material findings promptly, according to a Tokyo bourse filing on Wednesday.

TYO:5074
Asia

Tess Unit Secures 6 Billion Yen EPC Contract for Japan Power Storage Plant

Tess Holdings (TYO:5074) said its unit Tess Engineering secured an engineering, procurement, and construction contract worth 6 billion yen with Komoro Power Storage Plant in Komoro-shi, Nagano, Japan, according to a Friday filing on the Tokyo Stock Exchange.The Japanese engineering company said the contract covers the construction of power storage plants for power grids with an output of about 43 megawatts with 171 megawatt-hours of capacity.The project is expected to be delivered by March 2028.

TYO:5074

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