Hokuhoku Financial Group, Inc. [8377.T]
TOKYO, May 11 (Pulse News Wire) – Hokuhoku Financial Group, Inc. (8377.T), decided at its board meeting held, to propose reducing capital reserves at its upcoming annual shareholders' meeting scheduled for June 23, 2026.
The reduction aims to enhance flexibility in future capital policy, aligning with provisions under Article 448, Paragraph 1 of the Companies Act. Specifically, the group plans to decrease its capital reserve by an amount equivalent to ¥64.31 billion out of ¥82.03 billion.
This reduced capital reserve will be transferred to additional paid-in capital. Key milestones for the process include: - Board resolution date: May 11, 2026 - Shareholders' meeting resolution date: June 23, 2026 (planned) - Notice publication date for creditor objections: June 29, 2026 (planned) - Final deadline for creditor objections: July 30, 2026 (planned) - Effective date: July 31, 2026 (planned) This adjustment involves internal reallocation within the equity section without impacting overall net assets or performance.
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