Kobelco WIRE Company Wire to Cancel All Treasury Shares Before Merger Deadline

TOKYO, Aug 05 (Pulse News Wire) – Kobelco Wire Company,ltd. (5660.T) announced today that its board of directors has resolved to cancel all treasury shares based on Article 178 of the Companies Act.

This decision follows the share exchange agreement signed with Kobe Steel Co., Ltd. on May 11, 2026, which stipulates that Kobe Steel will acquire all outstanding shares of Kobelco Wire except those it already holds, effective September 1, 2026. Under the terms of the agreement, Kobelco Wire will cancel all its treasury shares immediately prior to the completion of the share exchange.

As of June 30, 2026, Kobelco Wire held 3,335 treasury shares out of a total of 5,912,999 issued shares. The cancellation is set to take place on September 1, 2026, at the designated time preceding the share exchange. This action aligns with the legal requirements outlined in the Companies Act and ensures compliance with the conditions set forth in the share exchange contract.