Share Consolidation and Change in the Trading Unit

「At a meeting of the Board of Directors held on 31 January 2018, the company resolved to submit proposals concerning the share consolidation and the change in the trading unit to the 172nd Annual General Meeting of Shareholders held on 26 June 2018. The proposals were approved at the meeting, and took effect on 1 October 2018.」

「At the 172nd Annual General Meeting of Shareholders held on 26 June 2018, approval was granted to consolidate the company’s common shares at a ratio of 5 shares to 1 share and to amend the Articles of Incorporation to change the total number of authorized shares from 160,000,000 shares to 32,000,000 shares, effective on the effective date of the share consolidation, 1 October 2018.」

「As a company listed on the Tokyo Stock Exchange and the Sapporo Securities Exchange, we have decided, in light of this objective, to change the trading unit for our common shares from 1,000 shares to 100 shares. At the same time, we will maintain the per-trading-unit share price at the level considered desirable by the stock exchanges, from ¥50,000 to less than ¥500,000, and implement a share consolidation to create an environment in which our shares are easier to invest in.」