Kobe Steel adjusts conversion price for convertible bonds

Kobe Steel, Ltd. (TSE:5406) announced an adjustment to the conversion price of its Zero Coupon Convertible Bonds due 2028 and Zero Coupon Convertible Bonds due 2030. The adjustment, effective April 1, 2025, is a result of the payment of an extraordinary dividend, specifically a year-end dividend of JPY55 per share, as approved at the board of directors meeting on May 19, 2025. Consequently, the conversion price for the 2028 bonds has been adjusted from JPY2,339.7 to JPY2,264.4, while the conversion price for the 2030 bonds has been revised from JPY2,238.2 to JPY2,166.2.