News Release: CANDEAL Co., Ltd.

(1446 TSE Mothers)
August 14, 2019

Notice of Stock Split, Partial Change to Articles of Incorporation, Upward Revision toDividend Forecast, and Partial Change to Shareholder Benefit Program
CANDEAL Co., Ltd. at the Board of Directors meeting held on August 14, 2019, resolved the following
resolution as follows.
1. Stock split(1) Purpose of stock split
The Company will implement a stock split to increase the liquidity of the company stock andexpand its investor base by reducing the trading unit and creating an environment that makes it
easier to invest.
(2) Outline of stock split① Method of stock split
For each ordinary share registered as belonging to shareholders on the final shareholder register
as of August 31, 2019 (Saturday) (As the day is a holiday for the shareholder register
administrator, the actual record date is August 30, 2019 (Friday)), the Company will conduct a 2for-1 stock split.
② Increase in number of shares resulting from stock split
Total number of shares outstanding before stock split

5,151,900 shares

Increase in number of shares resulting from stock split

5,151,900 shares

Total number of shares outstanding after stock split

10,303,800 shares

Total number of authorized shares after stock split

32,000,000 shares(3) Schedule for stock split
Date of announcement of record date August 15, 2019 (Thursday)
Record dateAugust 31, 2019 (Saturday)
Effective date
September 1, 2019 (Sunday)(4) Other
There will be no change to the amount of capital as a result of the stock split.
(5) Adjustment of the exercise price of the stock acquisition rights
As a result of the stock split, the exercise price per share of stock acquisition rights to beexercised after September 1, 2019 has been adjusted as follows.
Name
1st Stock
Acquisition Rights
2nd Stock
Acquisition Rights
3rd Stock
Acquisition Rights

Exercise pricebefore adjustment

Exercise priceafter the adjustment

560 yen

280 yen

560 yen

280 yen

900 yen

450 yen2. Partial change to the Articles of Incorporation(1) Reason for change
In accordance with the stipulations of Article 184, Paragraph 2 of the Company Act, the company
will change Article 6 of the Articles of Incorporation in connection with the stock split.
(2) Content of change(Amendments are underlined)
Current Articles of Incorporation

Articles of Incorporation after change(Total number of authorized shares)(Total number of authorized shares)

Article 6 The total number of authorized sharesin this company is 16,000,000 shares.

Article 6 The total number of authorized sharesin this company is 32,000,000 shares.

(3) Date of change to the Articles of Incorporation
Effective date for change to the Article of Incorporation

September 1, 2019 (Sunday)

3. Upward revision to the dividend forecast
As a result of the 2-for-1 stock split, the Company has revised the year-end dividend forecast for theyear ending September 2019 as described in the "Summary of Business Results for the Fiscal Year
Ended September 30, 2018" announced on November 14, 2018, as follows. In addition to therevision of the dividend forecast due to the stock split, this case represents an increase from thedividend forecast announced on November 14, 2018.
Annual dividend per share

Previous forecast (announced onNovember 14, 2018)
Revised forecast(before stock split)
Current results (FY9/19)

End of second
quarterYear-end

Total

5.00 yen

5.00 yen

10.00 yen

3.00 yen (Note 2)(6.00 yen)

― (Note 3)―5.00 yen (Note 1)―(11.00 yen)―Previous results (FY9/18)

0.00 yen
0.00 yen
0.00 yen(Note) 1. Dividend at the end of the second quarter of the fiscal year ending September 2019 iscalculated based on the number of shares before the stock split.
2. Dividend at the end of September 2,019 is based on the number of shares after the stocksplit. The year-end dividend for the fiscal year ending September 2019 will be 3 yen, an
increase of 0.5 yen from 2.5 yen, which is one-half of 5 yen in the previous forecast.
3. Total dividend forecast is not presented because a simple calculation is not possible due tothe stock split.
4. Partial change to the shareholder benefit program(1) Reason for change
The Company will make following changes to the shareholder benefit program with a record date of
September 30, 2019, which was announced in the "Notice of Establishment of the Shareholder
Benefit Program" dated December 5, 2018. This change is due to a stock split, and there is no
substantive change to the shareholder benefit program.

(2) Content of change① Current (announced on December 5, 2018)
Number of shares held
100 to less than 1,000 shares
1,000 to less than 3,000 shares
3,000 shares or more
② After change
Number of shares held
200 to less than 2,000 shares
2,000 to less than 6,000 shares
6,000 shares or more

Contents of the benefit programQUO Card worth 3,000 yen
QUO Card worth 4,000 yen
QUO Card worth 5,000 yen
Contents of the benefit programQUO Card worth 3,000 yen
QUO Card worth 4,000 yen
QUO Card worth 5,000 yen(Amendments are underlined)(3) Period for change
The change will be effective from the shareholder benefit program with the record date on
September 30, 2019.