Expanding the Investor Base Through a Stock Split and Change in the ADR Exchange Ratio
First written in FY2024-Q1. 1 of 2 entries say "Achieved", first in FY2024-Q2. Latest entry: FY2024-Q2.
- FY2024-Q2AchievedAnnual report
「At a meeting of the Board of Directors held on 9 August 2023, the Company resolved matters relating to the stock split, a change in the ADR (American Depositary Receipt) exchange ratio for the underlying common shares, and certain changes to the acquisition of treasury shares in connection with the split. Based on this resolution, the Company carried out the stock split and changed the ADR exchange ratio for the underlying common shares effective 1 October 2023.」
Effective 1 October 2023, the Company implemented a stock split from 1 share to 3 shares and changed the ADR exchange ratio for the underlying common shares from 1 ADR = 1 underlying share to 1 ADR = 3 underlying shares. The plan to reduce the investment unit while maintaining the ADR investment price per unit was completed. - FY2024-Q1First statedAnnual report
「The purpose is to create an environment that makes investment more accessible and expand the investor base by reducing the amount required per investment unit in our shares. With 30 September 2023 as the record date (effectively 29 September 2023, Friday, because the record-date transfer agent was closed on that date), we will split the common shares held by shareholders on that date at a ratio of 3 shares for every 1 share.」
Effective 1 October 2023, the Company planned to split its common shares at a ratio of 3 shares for every 1 share, increasing the total number of shares issued from 1,811,428,430 to 5,434,285,290. It also indicated a policy of changing the ADR exchange ratio for the underlying common shares from 1 ADR = 1 underlying share to 1 ADR = 3 underlying shares from 1 October 2023, thereby maintaining the investment unit.