Daido Steel (5471) · InitiativeAchieved
Lowering the Investment Unit and Expanding the Investor Base Through a Stock Split
First written in FY2024-Q2. 1 of 2 entries say "Achieved", first in FY2024-Q3. Latest entry: FY2024-Q3.
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- FY2024-Q3AchievedAnnual report
「Based on a resolution of the board of directors meeting held on 30 October 2023, the company conducted a stock split and partially amended its Articles of Incorporation in connection with the stock split, effective 1 January 2024.」
The 5-for-1 stock split of common shares and the amendment to the Articles of Incorporation resolved on 30 October 2023 were implemented effective 1 January 2024. Following the stock split, the number of issued shares stands at 217,243,845. - FY2024-Q2First statedAnnual report
「The purpose is to create an environment in which investors can invest more easily and expand the investor base by conducting a stock split to reduce the investment amount per trading unit of the company’s shares.」
At a meeting of the board of directors held on 30 October 2023, the company resolved to conduct a 5-for-1 stock split effective 1 January 2024. The number of issued shares will increase from 43,448,769 to 217,243,845, and the total number of authorized shares will increase from 116 million to 580 million.