UCHIYAMA HOLDINGS Co.,Ltd. [6059.T]
TOKYO, May 20 (Pulse News Wire) – Uchiyama Holdings CO.,LTD. (6059.T) announced today that its board of directors resolved on May 19 to propose a capital reduction at its upcoming annual shareholders' meeting scheduled for June 25.
The purpose of the capital reduction is to enhance the flexibility and agility of future capital policies, according to the company's statement. Under Article 447 of the Companies Act, Uchiyama Holdings plans to decrease its capital stock from ¥2.223 billion to ¥100 million. As of May 19, the company intends to reduce ¥2.123 billion without affecting the number of outstanding shares or per-share net assets. Any increase in capital due to exercised warrants prior to the effective date will also be offset by further reductions.
The capital reduction will be implemented through (free reduction without repayment) and transferred entirely to additional paid-in capital. Key dates for the process include the creditors’ objection notice publication on June 26 and the final deadline for creditor objections on July 25, with the effective date set for July 27. This move is expected to streamline the company’s financial structure while maintaining stability in equity metrics. Approval from the shareholders' meeting on June 25 is conditional for the implementation of this plan.
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