Aug 6, 2015
Kintetsu World Express, Inc.

Announcement of the Stock Split, Partially Amend Articles of Incorporation and Revised Dividend Forecast

Kintetsu World Express ("KWE") announces that the Board of Directors has passed resolutions to conduct a stock split, partially amend the Articles of Incorporation, as follows.
1. Purpose of the Stock Split
The purpose of the 2-for-1 stock split is to lower KWE's minimum investment cost per unit, thereby improving the investment environment for its shares and expanding its investor base.
2. Overview Stock Split
(1) Method of Stock Split
The record date for the stock split will be September 30, 2015 (Wednesday).
Each share of common stock held by shareholders as of the record date will be split into 2.
(2) Increase in Number of Shares as a result of Stock Split
Total number of shares issued before stock split: 36,000,000 shares Increase in number of shares due to stock split: 36,000,000 shares Total number of shares issued after stock split: 72,000,000 shares Total number of shares authorized after stock split: 240,000,000 shares
(3) Stock Split Schedule
Announcement of the record Date: September 11, 2015 (Friday) Record Date: September 30, 2015 (Wednesday) Effective Date: October 1, 2015 (Thursday)
3. Partial Amendments to the Articles of Incorporation
(1) Reason for Amending the Articles of Incorporation
Due to the aforementioned stock split, the Company shall partially amend its
Articles of Incorporation (#6 Total Number of Authorized Shares) as of October 1,
2015 in accordance with the provisions of Article 184, Paragraph 2 of the
Companies Act．
(2) Amendments to the Articles of Incorporation
(Amendments are underlined)

Current

Amended

(Total Number of Authorized Shares) Article 6 The total number of shares authorized to be issued by the Company

shall be 120,000,000 shares.

(Total Number of Authorized Shares) Article 6 The total number of shares authorized to be issued by the Company

shall be 240,000,000 shares.

4. Revision of Dividend Forecast
Based on the stock split as mentioned above, the year-end dividend per share forecast is revised as following. However, there has been no substantive change in the dividend forecast announced on May 8, 2015.

Dividend per Share

Record Date

Interim

Dividend

September 30

Year-end

Dividend

March 31

Full-year

Dividend

Previous Forecasts

(Announced May 8,

2015)

20.00 yen

32.00 yen

52.00 yen

Revised

Forecasts

20.00 yen(*)

16.00 yen

－

Previous Fiscal Year

(Year ended March 2015)

17.00 yen

29.00 yen

46.00 yen

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