Yukiguni Maitake : Proposed Reduction of Share Capital
April 20, 2021 at 01:40 am EDT
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Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
April 20, 2021
For Immediate Release
Company Name: YUKIGUNI MAITAKE CO., LTD.
Representative: Iwao Ashikaga, President and CEO,
Representative Director
(Tokyo Stock Exchange, First Section:1375)
Contact: Takenori Sakurai, Executive Officer
(Chief Financial Officer)
Tel: +81-25-778-0162
Proposed Reduction of Share Capital
Yukiguni Maitake Co., Ltd. (hereinafter "the Company") announces that the meeting of the Board of Directors held today decided to submit a proposal to reduce its amount of share capital as set out below to the 4th
Ordinary Shareholders' Meeting scheduled to be held on June 23, 2021, requesting for the official approval
therefrom.
Purpose of Reduction of Share Capital
Based on the current state of its business and financial performance, the Company plans to reduce its share capital in order to maintain the soundness of its future financial condition through an appropriate tax planning, and to ensure the agility and flexibility of future capital policies. Specifically, the amount of share capital will be reduced and said amount will be transferred to other capital surplus pursuant to the provisions of Article 447, Paragraph 1 of the Companies Act.
Details of Reduction of Share Capital
Amount of Reduction in Share Capital
The amount of share capital, which is JPY 119,831,297, will be reduced by JPY 19,831,297 to JPY 100,000,000.
Method of Reduction of Share Capital
The total number of issued shares will remain unchanged, and the entire amount of the share capital reduction will be transferred to other capital surplus.
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3. Schedule for Reduction of Share Capital
(1)
Date of resolution of the Board of Directors
April 20, 2021
(2)
Date of public notice for creditor objections
May 11, 2021 (planned)
(3)
Deadline for filing of creditor objections
June 11, 2021 (planned)
(4)
Date of resolution of the 4th Ordinary Shareholders' Meeting
June 23, 2021 (planned)
(5)
Effective date
June 23, 2021 (planned)
4. Future Outlook
The procedures mentioned above are accounting transfers within the equity section of the Company's balance sheet, and the Company's total equity will remain unchanged. The procedures mentioned above are subject to approval at the 4th Ordinary Shareholders' Meeting scheduled to be held on June 23, 2021.
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Yukiguni Maitake Co. Ltd. published this content on 20 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 05:39:03 UTC.
Yukiguni Maitake Co Ltd is mainly engaged in the production and sale of mushrooms, including maitake mushroom, eringi mushroom, hypsizygus marmoreus, hon-shimeji, lyophyllum decastes, mushrooms and others, as well as processed mushroom foods. The Company operates Mushroom segment and Others segment. The Mushroom segment produces and sells mushrooms, such as maitake mushroom, eringi mushroom, hypsizygus marmoreus, hon-shimeji, lyophyllum decastes, mushrooms and other products using independently developed industrial production method. The Others segment conducts the manufacturing and sale of health foods, the operation of restaurants and product halls, and the manufacturing and sale of medium activators.
YUKIGUNI MAITAKE CO., LTD. 
