2
warrant in accordance with the following equation.
Number of shares after the adjustment = Number of shares before the adjustment
× stock split or stock consolidation ratio
The number of shares after the adjustment shall be applied, in the case of a stock split, after the
day following the record date of the stock split, or in the case of a stock consolidation, after the
effective date of the said stock consolidation. However, when a stock split is made under the
condition that a proposal to increase the capital or the reserve by reducing the surplus shall be
approved at the Company’s general meeting of shareholders, and if a date prior to the closing of
the said general meeting of shareholders is set as the record date for the stock split, the number
of shares after the adjustment shall become retroactively applicable on the day following the
said record date, which procedure may be conducted after the day following the closing date of
the said general meeting of shareholders.
Other than the above, if an inevitable need arises after the date of issuance, the Company shall
adjust the number of shares to be issued upon exercise of each share warrant as appropriate
and to the extent reasonable.
Fractional number less than one share after the adjustment shall be truncated.
When adjusting the number of shares to be issued the Company shall, on or before the date
immediately prior to the day on which the number of shares to be issued will be adjusted, send
notice or otherwise publicly announce the relevant details to each person holding share
warrants as provided in the register of share warrants (“Share Warrants Holder”). However, if
notice or announcement cannot be made on or before the date immediately prior to the
applicable adjustment date, notice or announcement shall be issued promptly thereafter.
(4) Amount to be paid upon exercise of each share warrant
The amount payable to the Company upon exercise of each share warrant shall be determined
by multiplying one (1) yen, the per-share exercise price, by the number of common shares to be
issued upon exercise of such share warrant.
(5) Exercise period of share warrants
The exercise period of share warrants shall be from June 15, 2018 through June 14, 2038.
(6) Matters concerning the amount of capital stock and capital surplus increased by the
issuance of shares upon exercise of share warrants
(i) The amount of capital stock increased by the issuance of shares upon exercise of share
warrants shall be the amount obtained by multiplying the maximum limit of capital increase,
as calculated in accordance with the provisions of Article 17, paragraph 1 of the Company
Accounting Regulation, by 0.5, and any fraction of less than one (1) yen arising as a result of
such calculation shall be rounded up to the nearest one (1) yen.