June 23, 2023

To Whom It May Concern,

Company name:

NIPPON STEEL CORPORATION

Representative:

Eiji Hashimoto

Representative Director and President

Stock listing:

Prime Market of Tokyo Stock Exchange / Nagoya Stock

Exchange / Fukuoka Stock Exchange / Sapporo Securities

Exchange

Code number:

5401

Contact:

Shinnosuke Arita, General Manager, Public Relations Center

Telephone:

+81-3-6867-2135, 2146, 2977, 3419

Announcement Regarding Adjustment of Conversion Price for Zero Coupon Convertible Bonds

Due 2024 and Zero Coupon Convertible Bonds Due 2026

NIPPON STEEL CORPORATION (the "Company") hereby announces the adjustment of Conversion Price for each of the Zero Coupon Convertible Bonds due 2024 and the Zero Coupon Convertible Bonds due 2026 (collectively, the "Bonds"). Defined terms used but not defined herein shall have the meaning assigned to them in the respective Terms and Conditions of each series of the Bonds.

Adjustment of Conversion Price

Conversion Price

Conversion Price

Name of issue

after the adjustment

prior to the adjustment

Zero Coupon Convertible

¥2,468.3

¥2,547.0

Bonds due 2024

Zero Coupon Convertible

¥2,586.4

¥2,668.9

Bonds due 2026

Effective Date

As of April 1, 2023 (Japan time)

Reason for the Adjustment

Adjustment of conversion price pursuant to the Terms and Conditions of each series of the Bonds due to the Extraordinary Dividend resulting from payment of a year-end dividend of ¥90 per share of common stock of the Company. The payment of such dividend was approved at the 99th general meeting of shareholders of the Company on June 23, 2023.

Note: This press release has been prepared for the sole purpose of publicly announcing general information regarding the Bonds, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan.

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Nippon Steel Corporation published this content on 23 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 June 2023 06:08:02 UTC.