[Inherited Shares] The inheritance-tax valuation does not change even if the shares rise. The valuation differs by approximately ¥4.88 million depending on whether death occurred at the end of March or the end of May (market value of approximately ¥26.2 million, estimated based on movements in the Nikkei Average) (LIMO)

The inheritance-tax valuation of inherited listed shares is generally based on the closing price published by the exchange on the date of death. However, if the lowest of the monthly averages for the month of death, the preceding month, and the second preceding month is lower than the closing price, that lowest price is used for the valuation. In the end, the valuation is determined by share prices through the date of death.

The 4 prices used to calculate the valuation are the closing price on the date of death, the monthly average for the month of death, the monthly average for the preceding month, and the monthly average for the second preceding month, with the lowest of these used. All are based on share prices through the date of death. Adjustments are made if there is no closing price on the date of death or if the shares are ex-rights.