【Kobe Steel, Ltd.】Euro-Yen Convertible Bond Conversion Price Adjustment｜May 2026

Overview of the Adjustment

Based on the Board of Directors resolution on May 20, 2026, Kobe Steel, Ltd. lowered the conversion prices of euro-yen convertible bonds due in 2028 and 2030. This adjustment was made in conjunction with the approval of the dividend proposal to set the year-end dividend at 40 yen per share. The conversion prices before and after adjustment are 2,212.8 yen to 2,173.4 yen and 2,116.8 yen to 2,079.1 yen, respectively.

Implications and Company Response

This adjustment is related to the dividend increase and affects the conversion terms of the bonds. Investors should consider the potential impact on stock prices and dilution risk upon conversion. Kobe Steel, Ltd. will continue to optimize its funding and financial strategies while providing appropriate information disclosure.