August 27, 2020 | |
TRANSLATION - FOR REFERENCE ONLY | |
Company | METAWATER Co., Ltd. |
Representative | Yasushi Nakamura, President and Representative Director |
(Securities code: 9551 First Section of Tokyo Stock Exchange) | |
Contact | Akira Kato, Director and General Manager of Corporate Strategy |
Planning Division | |
(Tel: +81-3-6853-7317) |
Stock Split, Partial Amendment to Articles of Incorporation, and Revision to
Dividend Forecast Due to Stock Split
METAWATER Co., Ltd. hereby announces that, at a meeting of the Board of Directors convened on August 27, 2020, it was resolved to implement a stock split and a partial amendment to its Articles of Incorporation, and to revise the Company's dividend forecast to reflect the stock split, as follows.
Details
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Purpose of stock split
The purpose of the stock split is to expand the Company's investor base and enhance the liquidity of its shares by lowering the unit investment amount. - Outline of stock split
(1) Method of stock split
The Company will conduct a 2-for-1 split for each share of common stock held by shareholders written or recorded in the last shareholder registry on the record date of September 30, 2020 (Wednesday).
(2) | Increase in number of shares resulting from stock split | ||
Number of shares issued before stock split | 25,923,500 shares | ||
Increase in number of shares resulting from the announced stock split | 25,923,500 shares | ||
Number of shares issued following stock split | 51,847,000 shares | ||
Total number of authorized shares following stock split | 140,000,000 shares | ||
(3) | Schedule | ||
Date of announcement of record date | September 15, 2020 (Tuesday) | ||
Record date | September 30, 2020 (Wednesday) | ||
Effective date | October 1, 2020 (Thursday) | ||
3. | Partial amendment to Articles of Incorporation due to stock split | ||
(1) | Reasons for amendment to Articles of Incorporation |
As a result of the announced stock split, the total number of authorized shares pursuant to Article 6 of the Company's Articles of Incorporation will be changed as of October 1, 2020 (Thursday), in accordance with the provisions of Article 184, Paragraph 2 of the Companies Act.
(2) Outline of amendments
(Amendments are underlined.) | |
Current Articles of Incorporation | Proposed Amendments |
(Total number of authorized shares) | (Total number of authorized shares) |
Article 6: The Company's total number of authorized | Article 6: The Company's total number of authorized |
shares is 70 million shares. | shares is 140 million shares. |
(3) Schedule for amendments
Effective date: October 1, 2020 (Thursday)
4. Revision to dividend forecast
(1) Reasons for revision
Due to the announced stock split, we revise our year-end dividend forecast for the fiscal year ending March 31, 2021 from the figure shown in "Consolidated Results for the Fiscal Year Ended March 31, 2020 (Japanese accounting standards)" announced on April 27, 2020, as follows.
Note that the revision to our dividend as shown below is an adjustment to our dividend per share due to the announced stock split and does not represent a material change to our dividend forecast.
(2) Details of revision
Dividend per share (yen) | ||||
2Q | 4Q | Annual | ||
Previous dividend forecast for the | 40.00 | 40.00 | 80.00 | |
fiscal year ending March 31, 2021 | ||||
(announced on April 27, 2020) | ||||
Revised dividend forecast for the | 40.00 | 20.00 | － | |
fiscal year ending March 31, 2021 | (Before split) | (After split) | (Note) | |
Fiscal year ended March 31, 2020 | 31.00 | 40.00 | 71.00 | |
(Note) No annual dividend per share forecast is shown, as simple calculations are not possible due to the stock split. However, the annual dividend forecast based on standards prior to the stock split would be 80 yen.
5. Other
(1) There will be no change to the amount of capital as a result of the stock split.