Amendment to the Terms of a Loan Agreement with Financial Covenants
V-cube,Inc.
The borrowing used to fund the acquisition of shares in TEN Events, Inc. (formerly Xyvid, Inc., now a subsidiary of TEN Holdings, Inc.)
In addition to continued delays in monetizing assets associated with the deconsolidation of TEN, the announcement of financial results for the fiscal year ended December 2025 was delayed, and the future repayment policy was not finalized.
The impact on consolidated results is expected to be immaterial (no amount recognized in profit or loss is stated).
The Company expects the impact of this matter on its consolidated results to be immaterial.
Company response
Scheduled repayments of this borrowing and other borrowings have been temporarily suspended through the end of April 2026, with their outstanding balances maintained.
From May 2026 onward (temporarily suspended through the end of April 2026)
The Company will steadily implement various financial measures, including the deconsolidation of TEN, and promptly rebuild its financial base.
If any matters requiring disclosure arise, the Company will promptly disclose them.
| Item | Details |
|---|---|
| Event name | Amendment to the Terms of a Loan Agreement with Financial Covenants |
| Date of occurrence | 31 March 2026 |
| Date recognized / date notice received | 31 March 2026 (the date on which the Company amended the agreement) |
| Subject Entity | V-cube,Inc. |
| Target Locations / Products | The borrowing used to fund the acquisition of shares in TEN Events, Inc. (formerly Xyvid, Inc., now a subsidiary of TEN Holdings, Inc.) |
| Cause | In addition to continued delays in monetizing assets associated with the deconsolidation of TEN, the announcement of financial results for the fiscal year ended December 2025 was delayed, and the future repayment policy was not finalized. |
| Amount of Impact on Business Performance | The impact on consolidated results is expected to be immaterial (no amount recognized in profit or loss is stated). |
| Impact on Earnings Forecast | The Company expects the impact of this matter on its consolidated results to be immaterial. |
| Suspended operations | Scheduled repayments of this borrowing and other borrowings have been temporarily suspended through the end of April 2026, with their outstanding balances maintained. |
| Scheduled resumption date | From May 2026 onward (temporarily suspended through the end of April 2026) |
| Outlook | The Company will steadily implement various financial measures, including the deconsolidation of TEN, and promptly rebuild its financial base. |
| Planned follow-up disclosure | If any matters requiring disclosure arise, the Company will promptly disclose them. |
Items this document does not state (13)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.In addition to delays in monetizing assets associated with the deconsolidation of TEN Holdings, Inc., the announcement of financial results for the fiscal year ended December 2025 was delayed, and the future repayment policy had not been finalized.