November 5, 2019
Nippon Telegraph and Telephone Corporation (“NTT”) hereby announces that, at a meeting of its board of directors held today, NTT authorized a stock split of its common stock and a distribution of d POINT to NTT shareholders.
The objective of the stock split is to lower the minimum investment price per unit of NTT, thereby facilitating an environment where it is easier to invest in NTT’s shares and expanding NTT’s investor base.
The record date of the stock split will be Tuesday, December 31, 2019. Each share of NTT common stock held by shareholders as of the record date will be split into two shares.
|Number of shares outstanding prior to the stock split||1,950,394,470 shares|
|Increase in total number of outstanding shares as a result of this stock split||1,950,394,470 shares|
|Number of shares outstanding after the stock split||3,900,788,940 shares|
|Number of shares authorized to be issued after the stock split||6,192,920,900 shares|
|(a) Date of public notice of the record date||Monday, December 16, 2019|
|(b) Record date||Tuesday, December 31, 2019 (effectively, December 30)|
|(c) Effective date||Wednesday, January 1, 2020|
As a result of the stock split, the per-share dividend forecasts have been revised as described below. There have been no substantive changes to the dividend forecasts.
|End of the Second Quarter||Fiscal Year End||Total|
[amounts in parentheses indicate amounts not reflecting the stock split]
In connection with the stock split, JPMorgan Chase Bank, N.A., as depositary bank for the company’s American Depositary Receipts (“ADRs”), will conduct a corresponding two-for-one ADR split to maintain the current one-to-one ADR-to-stock ratio.
The purpose of the distribution is to increase the appeal of investment in NTT shares and to increase the number of medium- to long-term holders of NTT shares.
The initial record date will be Tuesday, March 31, 2020.
Shareholders holding 100 or more shares of NTT’s common stock as of each record date
Each shareholder who has held NTT shares for periods of two or more years or five or more years will receive 1,500 d POINT in their second year and 3,000 d POINT in their fifth year.
For the initial distribution with a record date of Tuesday, March 31, 2020, each shareholder who has held NTT shares for a period of at least two years and up to five years will receive 1,500 d POINT, and each shareholder who has held NTT shares for five years or more will receive 4,500 d POINT.
A summary of the distribution will be provided in the upcoming Shareholders’ Newsletter “NTTis” (December 2019 edition), and the entry method and other details will be posted on the official NTT website at the end of January 2020.
Investor Relations Office
Finance and Accounting Department
Nippon Telegraph and Telephone Corporation
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Information is current as of the date of issue of the individual press release.
Please be advised that information may be outdated after that point.