Istyle's convertible bond conversion shifts shareholder structure

Istyle Corporation announced on September 8, 2025, that its second unsecured convertible bond with stock acquisition rights, issued on September 6, 2022, was fully converted by Mitsui & Co., Ltd. on September 5, 2025. This conversion involved 6 units of the bond, resulting in the issuance of 5,725,190 shares of common stock at a conversion price of JPY 262 per share. Following this, Istyle's total outstanding shares increased from 96,678,777 to 102,403,967, and its capital increased by JPY 750 million.

The exercise of these conversion rights also led to a change in Istyle's major shareholders. Amazon.com, Inc. is no longer categorized as a major shareholder or the largest shareholder as of September 5, 2025. While Amazon.com, Inc. maintains 9,541,984 shares, its ownership percentage of voting rights decreased from 10.15% to 9.57% due to the increased total outstanding shares.

Istyle stated that the impact of these changes on its financial performance and management structure is expected to be minor.