Japan Exchange Group, the operator of the Tokyo Stock Exchange, has decided to split its common shares two for one. The company said the aim is to lower the minimum investment unit for its own stock, citing a widespread wish among individual investors for lower units at listed companies.
Split terms and timing
The record date is 31 March 2027, and the split takes effect on 1 April 2027. Shareholders on the register at the end of 31 March 2027 receive two shares for each one held. The company will announce the record date on 12 March 2027.
Before the split, the company has 1,022,298,636 shares outstanding. The split adds the same number, taking the total to 2,044,597,272.
| Item | Detail |
|---|---|
| Ratio | 2 shares for 1 |
| Record date | 31 March 2027 |
| Effective date | 1 April 2027 |
| Shares before split | 1,022,298,636 |
| Shares after split | 2,044,597,272 |
| Authorized shares | 4.17bn to 8bn |
The pre-split share count is calculated from the count as of 27 October 2026, less the treasury shares to be cancelled on 10 November 2026.
Authorized share total rises to 8bn
The company will also amend Article 7 of its articles of incorporation, effective 1 April 2027. The authorized share total rises from 4.17bn shares to 8bn. The company cites Article 184, paragraph 2 of the Companies Act as the basis for the change.
Treasury share cancellation
A separate notice, issued the same day, covers the cancellation of 9,486,700 common shares of treasury stock, equal to 0.92% of the shares outstanding before cancellation. The cancellation is scheduled for 10 November 2026 and leaves 1,022,298,636 shares outstanding.
Dividend
The year-end dividend for the year to March 2027, with a 31 March 2027 record date, will be paid on the pre-split share count, because the split takes effect only on 1 April 2027. The notice gives no dividend amount. Earlier Tokyo Brief coverage