Nagoya Railroad adjusts convertible bond conversion prices due to dividend

Nagoya Railroad Co., Ltd. (TSE:9048) announced the adjustment of conversion prices for its Euro-yen Denominated Zero Coupon Convertible Bonds with Stock Acquisition Rights due 2033 and 2034. The adjustment, effective April 1, 2025, or later, is a result of the approved year-end dividend of JPY38.50 per share for the fiscal year ended March 31, 2025, at the 161st Ordinary Shareholders Meeting held on June 26, 2025. The conversion price for the 2033 bonds will decrease from JPY2,098.0 to JPY2,051.7, while the 2034 bonds will see a reduction from JPY2,058.0 to JPY2,012.6, aligning with the conversion price adjustment clauses for each bond. The initial details of the bonds were disclosed on May 30 and 31, 2024.