Notice of Stock Split, Partial Amendment to the Articles of Incorporation and Revision of Dividend Projections
July 30, 2024
TDK Corporation (“the Company”) hereby announces that the Company has resolved at the meeting of the Board of Directors held on July 30, 2024, the stock split and partial amendment to the articles of incorporation.
Furthermore, in line with the stock split, the Company has resolved to revise the dividend projections for the fiscal year ending March 31, 2025.
Details are as follows.
1. Purpose of the stock split
The Company plans to conduct the stock split and lower the amount per an investment unit for the purpose of making it easier for investors to invest and expanding the investor base.
2．Outline of the stock split
(1) Method of the stock split
The Company will split one share of its common stock owned by shareholders entered or recorded in the last shareholder registry as of Monday, September 30, 2024 into five shares.
(2) Number of shares to be increased by the stock split
| i | Total number of shares issued before the stock split | 388,771,977 |
| ii | Increase in the number of shares upon the stock split | 1,555,087,908 |
| iii | Total number of shares issued after the stock split | 1,943,859,885 |
| iv | Total number of shares issuable after the stock split | 7,200,000,000 |
(3) Schedule of Stock Split
| i | Public notice of record date | Tuesday, September 10, 2024 |
| ii | Record date | Monday, September 30, 2024 |
| iii | Effective date | Tuesday, October 1, 2024 |
(4) Other
The stock split will not result in a change to the amount of stated capital.
3. Partial amendment to the articles of incorporation
(1) Reasons for the amendment
In line with the stock split, pursuant to the Article 184, paragraph 2 of the Companies Act of Japan, the Company will amend as of Tuesday, October 1, 2024, the total number of shares issuable set by Article 6 in the Articles of Incorporation of the Company.
(2) Details of the amendment
Details are as follows.
(Updated contents are underlined.)
| Current Articles of Incorporation | After the amendment |
|---|---|
| Article 6. (Aggregate Number of Issuable Shares) The total number of shares that the Company may issue shall be 1,440,000,000 shares. |
Article 6. (Aggregate Number of Issuable Shares) The total number of shares that the Company may issue shall be 7,200,000,000 shares. |
(3) Schedule of the amendment to the Articles of Incorporation
| Date of resolution by the Board of Directors: | Tuesday, July 30, 2024 |
| Effective date: | Tuesday, October 1, 2024 |
4. Revision of dividend projections associated with the stock split
With respect to the year-end dividend projections for the fiscal year ending March 31, 2025 announced on April 26, 2024, the Company will revise it as follows because the year-end dividend will be paid after this stock split.
As the effective date of this stock split is October 1, 2024, the interim dividend for the fiscal year ending March 31, 2025, with a record date of September 30, 2024, will be paid on the basis of the number of shares prior to the stock split.
| Annual dividend (Yen) | |||
|---|---|---|---|
| Interim | Year-end | Annual | |
| Previous projections (April 26, 2024) |
60.00 | 60.00 | 120.00 |
| Revised projections (Prior to the stock split) |
60.00 | 12.00 (60.00) |
― (120.00) |
| Results for FY March 2025 | ― | ― | ― |
| Results for FY March 2024 | 58.00 | 58.00 | 116.00 |
Contacts for media
| Region | Contact | Phone | ||
|---|---|---|---|---|
| Japan | Mr. Atsuo OMAGARI | TDK Corporation Tokyo, Japan |
+813 6778-1068 | TJP.ir@tdk.com |
