Mitsubishi Electric announces revision of shares constituting one unit.
M2 EQUITYBITES-July 20, 2016-Mitsubishi Electric announces revision of shares constituting one unit
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Mitsubishi Electric Corporation (Tokyo:6503) announced on Tuesday a decision to revise its number of shares constituting one unit, or its trading unit.
Under this revision, Mitsubishi Electric's number of shares constituting one unit will be changed from 1,000 shares to 100 shares effective from 1 October 2016.
Simultaneously, the company's minimum share-trading unit on the Tokyo Stock Exchange will be changed from 1,000 shares to 100 shares.
According to the company, this reduction in number of shares constituting one unit is aimed at providing increased investing opportunities to a wide range of investors and to improve share liquidity.
Also, this decision has been made with respect to the Action Plan for Consolidating Trading Units, an initiative by stock exchanges in Japan to unify trading units at 100 shares.
In addition, Mitsubishi Electric's articles of incorporation will be partially amended as of 1 October 2016, in accordance with Article 195, paragraph 1 of the Companies Act of Japan, to incorporate this change.
Mitsubishi Electric Corporation is a manufacturer, marketer and seller s of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jul 20, 2016|
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