Aug 21, 2020
On August 21, 2020, the TechnoPro Holdings, Inc. Board of Directors resolved to submit the proposal to reduce its legal capital surplus to a vote at its 15th annual general meeting of shareholders scheduled on September 29, 2020.
1. Purpose of Reduction of Legal Capital Surplus
TechnoPro Holdings, Inc. will reduce the amount of legal capital surplus and transfer the amount to other capital surplus pursuant to Article 448 (1) of the Companies Act in order to accomplish flexible capital policy and achieve resilience in financial strategies in the future.
2. Outline of Reduction of Legal Capital Surplus
|(1) Item and amount of surplus to be reduced||Legal capital surplus: ¥11,207,084,060 out of the current legal capital surplus of ¥12,939,501,460|
|(2) Item and amount of surplus to be increased||Other capital surplus: ¥11,207,084,060|
3. Schedule for Reduction of Legal Capital Surplus
|(1) Date of resolution at the Board of Directors Meeting||August 21, 2020|
|(2) Date of public notice for creditor objections||August 28, 2020 (tentative)|
|(3) Final date for creditor objections||September 28, 2020 (tentative)|
|(4) Date of resolution at the annual general meeting of shareholders||September 29, 2020 (tentative)|
|(5) Effective date||September 30, 2020 (tentative)|
4. Future outlook
This transaction is a transfer between accounts within the net asset section on the balance sheet and does not change the amount of TechnoPro Holdings’ net assets and total number of outstanding share, and therefore gives no impact on its earnings and amount of net assets per share.
The transaction is subject to approval at the 15th annual general meeting of shareholders scheduled on September 29, 2020.
Note: This document is provided for informational purpose only. If there are any discrepancies between this and the original, the original Japanese document prevails.