Takashimaya lowers conversion prices on convertibles due 2018, 2020

By Marisa Wong

Morgantown, W.Va., May 24 – Takashimaya Co., Ltd. adjusted the conversion prices for its ¥40 billion zero-coupon convertible bonds due 2018 and ¥25 billion zero-coupon convertible bonds due 2020, according to a notice.

The conversion price for the 2018 bonds was lowered to ¥1,442.20 from ¥1,445.0, and the conversion price for the 2020 bonds was lowered to ¥1,342.4 from ¥1,345.0.

The adjustments are due to an extraordinary dividend of ¥12.00 per share approved by shareholders on Tuesday.

The new conversion prices are effective retroactively from March 1, which is the day immediately after the record date.

Based in Osaka, Japan, Takashimaya operates a department store chain.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.