Fancl trims conversion price on ¥10 million 0% convertibles due 2024

By Mary-Katherine Stinson

Lexington, Ky., May 9 – Fancl Corp. adjusted the conversion price of its ¥10 million 0% convertible bonds due 2024, according to a notice.

The price has been adjusted downward to ¥3,887.5 from ¥3,893.6 effective retroactively from March 31.

The adjustment was due to an extraordinary dividend resulting from an annual dividend payment of ¥34 per share, approved by the board of directors on May 9.

Yokohama, Japan-based Fancl is a manufacturer, marketer and seller of cosmetics and nutritional supplements.

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