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Jun. 09, 2020 TSE Handling of ex-dividend when the record date is changed (update)

Due to the Coronavirus (COVID-19), some listed companies have decided to postpone their annual general meeting of shareholders and change the record date for dividends and other rights due to the safety of financial statement and audit workers, etc. The Tokyo Stock Exchange would like to notify as follows of the handling of ex-dividend when the record date for dividends is changed along with the postponement of the annual general meeting of shareholders.

[Handling of ex-dividend]
When the record date for dividends is changed, the same process as ordinary ex-dividend is applied as below (same as the handling in the past):
-Buying and selling on or after the business day preceding the changed record date (hereinafter "ex-dividend date") shall be treated as "ex-dividend".
-The base price on the ex-dividend date will be calculated by subtracting the expected dividend amount from the final price cum dividend.

[Note]
-"Base price" is set to determine price limit range (limit of price range to fluctuate on a single day) and does not indicate theoretical price, etc. of individual issues. The ex-dividend stock price is determined based on the supply and demand for the market.
-"The expected dividend amount" refers to the dividend amount related to the changed record date. If the dividend amount is not determined by the listed company, due to the change in the record date (including the case where the expected dividend amount is not disclosed), the actual dividend amount for the same period of the previous fiscal year is adopted as "the expected dividend amount".
-Even if the record date for dividends is changed, the base price calculated on the ex-dividend date related to the initial record date will not be re-adjusted, etc.

*1：As of June 8, 2020, the five companies have disclosed changes to the record date for dividends (NANSIN CO.,LTD., SANRITSU CORPORATION, OLYMPUS CORPORATION, UNIPRES CORPORATION and Advanex Inc.). (last update: June 9)

*2：Please refer to company announcements for the latest information related to changes in schedule and record date of the annual general meeting of shareholders, etc. The "Company Announcements Distribution Service" (https://www.jpx.co.jp/english/listing/disclosure/index.html) is available for browsing timely disclosure for the past one month, and "TSE Listed Company Information Service" (https://www.jpx.co.jp/english/listing/co-search/index.html) is available for the past one year by each individual listed company.

*3：In principle, an amount of dividend for the preceding term (excluding commemorative and special dividends) will be adopted if an expected dividend amount for the current term has not yet been disclosed. For example, if the record date for the end-of-term dividend is changed in the fiscal year ending in March 2020 and the expected dividend amount has not yet been disclosed, the amount of dividend in the fiscal year ending in March 2019 will be adopted.