Asics cuts conversion price on zero-coupon convertible bonds due 2019

By Marisa Wong

Morgantown, W.Va., March 28 – Asics Corp. said it lowered the conversion price of its ¥30 billion zero-coupon convertible bonds due 2019 to ¥2,724.2 from ¥2,731.3.

The new conversion price is effective retroactively from the day after the Dec. 31 record date, according to a company notice.

The adjustment is due to an extraordinary dividend ¥23.50 per share approved by shareholders on Friday.

The athletic equipment company is based in Kobe, Japan.

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