1. Purpose of the split
The purpose of the stock split is to restore profits to the shareholders as well as to improve the Company's stock liquidity.
2. Summary of the split
As of May 18, 2001 (Friday), the Company shall split its par value shares of common stock at the ratio of 2 shares for each share. Upon this stock split, the amount in excess of par value in stated capital and part of capital surplus reserve shall be appropriated. The amount to be appropriated from the capital surplus reserve shall be the amount in excess of par value in stated capital on March 31, 2001 (Saturday) subtracted from the number of shares, stipulated below (1), multiplied by 50 yen.
(1) The number of shares to be increased upon the split:
As par value common shares, this will be same as the aggregate number of issued and outstanding shares as of March 31, 2001 (Saturday).
(2) Method of the split
The number of shares held by the shareholders whose names appear on the register of shareholders and the register of beneficial shareholders as at the close of March 31, 2001 (Saturday) [however, because it is a non business day, the actual date will be March 30, 2001 (Friday)] shall be split at the ratio of 2 shares for each share.
Allotment date: March 31, 2001
Effective date: May 18, 2001
4. First date of dividend accrual period
January 1, 2001
1. The number of shares to be increased upon the split is not determined, because the aggregate number of issued and outstanding shares may increase upon conversion of convertible bonds and/or exercise of warrants until the record date of the split, and the aggregate number of issued and outstanding shares as of the record date of the split shall not be fixed at this point.
2. The aggregate number of issued and outstanding shares after the stock split is, if computed based on the aggregate number of issued and outstanding shares as of January 31, 2001 date of stock exchange, as follows:
The number of shares as of January 31, 2001: 65,577,070 shares
Capital: 6,208,602,400 yen
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