Kansai Paint Co., Ltd.
Notice on November 6, 2026: Adjustment of Conversion Price for Euro-Denominated Convertible Bonds with Warrants Maturing 2029 and 2031
Following approval of the interim dividend, the conversion prices for the convertible bonds maturing in 2029 and 2031 have been adjusted. The adjusted conversion price includes 3,453 yen, which corresponds to 130%. The effective date is on or after October 1, 2026.
Key Figures
- Conversion Price (before adjustment): 2,676.1 yen
- Conversion Price (after adjustment): 2,656.2 yen
- Value Corresponding to 130%: 3,453 yen
AI要約
Adjustment of Conversion Price for Convertible Bonds
Kansai Paint Co., Ltd. adjusted the conversion prices of its euro-denominated convertible bonds with warrants maturing in 2029 and 2031 pursuant to a resolution of the extraordinary board meeting held on November 6, 2026. The conversion price before adjustment was 2,676.1 yen and after adjustment is 2,656.2 yen, with the effective date on or after October 1, 2026. The value corresponding to 130% is set at 3,453 yen. The exercise condition stipulates that conversion is permitted only if the closing price on the last trading day of the preceding quarter exceeds 130% of the applicable conversion price.
Background and Impact
This conversion price adjustment was prompted by the implementation of an interim dividend of 58 yen and arises from the relationship between the approved distribution of retained earnings and the conversion provisions. Specific exercise conditions and the treatment for the period until redemption follow descriptions in related past press releases. While this announcement does not explicitly state direct market impacts such as dilution risk, a downward revision of the conversion price can be a notable dilution factor for shares.
Kansai Paint Co., Ltd.
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