【Yamazen】Adjustment of Conversion Price for the 2026 Maturity Euro-Yen Convertible Bonds | May 2026

Capital Policy and Bond Adjustment Details

Yamazen has adjusted the conversion price of the Euro-Yen Convertible Bonds maturing in 2026. The adjustment will be applied from April 1, 2026, and was made due to an increase in dividends, with an annual dividend of 54 yen for the fiscal year ending March 2026. As a result, the conversion price of the bonds was lowered from 1,186.1 yen to 1,158.8 yen, and the bond conversion has already been completed.

Future Impact and Corporate Response

This adjustment reflects a change in bond conditions due to increased dividends, which signifies a revision of bond conversion terms for investors. Yamazen will continue to optimize its financial strategy as part of its capital policy and intends to proceed with appropriate fund management even after the bond conversion is complete.