15 May 2002
Stock Split (Free Issue) and the Dividend Policy for the Year
Ending March 2003
This is to announce that at the Board of Directors meeting on May 15, 2002, the following decisions have been made concerning a stock split (free issue) and the dividend policy for the year ending March 2003:
Stock Split
1. Purpose of the stock split
The purposes of the stock split are to increase the number of shares in circulation and to reduce the investment unit in order to increase the liquidity of our stock.
2. Outline of the stock split
Effective Wednesday, November 20, 2002, each share of common stock will be split into two as follows:
(1) Number of additional stocks resulting from the stock split
Common stock: 16,295,620 stocks
(2) Method of stock split
The stocks held by shareholders of record on the list of shareholders and the list of actual shareholders at the close of business on Monday, September 30, 2002, will be split at the rate of two stocks per share.
(3) Effective date: November 20, 2002
(4) Initial reckoning date for dividend: October 1, 2002
3. Increase in the total number of authorized stocks
Effective Wednesday, November 20, 2002, Article 5 of the Company's Articles of Incorporation will be modified to increase the total number of authorized stocks to be issued by the Company by 49,000,000 stocks to 98,000,000 stocks.
4. Other
Any other necessary matters for the stock split will be determined at the Board of Directors meeting.
[For your reference]
1. Calculated on the basis of September 30, 2002, the total number of issued stocks after the stock split is as follows:
- Total number of issued stocks at September 30, 2002: 16,295,620 stocks
- Number of additional stocks resulting from the stock split: 16,295,620 stocks
- Total number of issued stocks after the stock split: 32,591,240 stocks2. The stock split will cause no change in the amount of capital stock.
- Capital stock as of May 15, 2002: 8,180,500,000 yen
3. As a consequence of the stock split, the issuing price of stock options (subscription rights) under the provisions of Article 280-19 of the former Commercial Law will be, effective October 1, 2002, adjusted as follows:
Issuing price after adjustment Issuing price before adjustment First issue of stock options(Based on a resolution of the general shareholders meeting held on June 28, 2001) 5,843 yen
11,685 yen
Dividend Policy for the Year Ending March 2003
With respect to the dividend policy for the year ending in March 2003, the amount of dividend will not be adjusted in connection with the stock split. Meanwhile, interim dividends will be paid beginning this fiscal year. The rates of both interim and final dividends will be 10 yen per share.
Interim Period Year End Annual Total Year ended March 2003 10 yen
10 yen
20 yen
Year ended March 2002 -
20 yen
20 yen
