Ratings & Corporate Bonds｜Kyoritsu Maintenance

Rating Information

As of August 22, 2024

Rating Agency	Rating Object	Rating (Outlook)
Japan Credit Rating Agency (JCR)	Long-term Issuer Rating	BBB (Positive)

AAA	The highest level of certainty of an obligor to honor its financial obligations
AA	A very high level of certainty to honor the financial obligations
A	A high level of certainty to honor the financial obligations
BBB	An adequate level of certainty to honor the financial obligations. However, this certainty is more likely to diminish in the future than with the higher rating categories.
BB	Although the level of certainty to honor the financial obligations is not currently considered problematic, this certainty may not persist in the future.
B	A low level of certainty to honor the financial obligations, giving cause for concern
CCC	There are factors of uncertainty that the financial obligations will be honored, and there is a possibility of default.
CC	A high default risk
C	A very high default risk
LD	CR judges that while an obligor does not honor part of the agreed to financial obligations,
D	JCR judges that all the financial obligations are, in effect, in default.

* A plus (+) or minus (-) sign may be affixed to the rating symbols from AA to B to indicate relative standing within each of those rating scales.

As of March 31, 2025

Issue	Issuance Date	Redemption Date	Total Amount Issued (million yen)
Euro-yen denominated convertible bonds that will mature in 2026 based on a resolution	January 29th,2021	January 29th,2026	30,150
Fourth series of unsecured convertible bonds issuance	March 23rd,2016	March 31st,2021	20,000
"Third series of unsecured convertible bonds issuance"	December 17th,2013	December 28th,2018	15,000
Issuance of yen-denominated convertible bonds with stock acquisition rights due September 30,2011	September 29th,2006	September 30th,2011	10,000
Second series of unsecured convertible bonds issuance	September 9th,2004	September 30th,2009	5,000
First series of unsecured convertible bonds issuance	December 6th,1999	March 31st,2004	5,000

Issue	Euro-yen Denominated due 2026
Type of shares to be issued	Common shares
Issuance price of stock acquisition rights (yen)	Gratis
Issue price of share (yen)	2,355
Total amount issued (million yen)	30,150
Total amount of shares issued through the exercise of stock acquisition rights (million yen), -	-
Allotment ratio of stock acquisition rights (%)	100
Exercise period of stock acquisition rights	From February 12, 2021 to January 15, 2026

(Notes)

When a request is made by a person wishing to exercise stock acquisition rights, the payment of the full amount to be paid upon exercise of the stock acquisition rights shall be deemed to have been made in lieu of the redemption of the full amount of the bonds with the stock acquisition rights. In addition, when stock acquisition rights are exercised, such a request shall be deemed to have been made.
A 2-for-1 stock split was implemented on April 1, 2024. As a result, the issue price of shares has been adjusted to 2,356.5 yen from April 1, 2024.
Following the approval of a year-end dividend of 33 yen per share at the 45th Annual General Meeting of Shareholders (fiscal year ended March 2024) held on June 26, 2024, and the determination of an annual dividend of 49 yen per share for the fiscal year ended March 2024, the conversion price of the Euro-yen Denominated Convertible Bonds with Stock Acquisition Rights due 2026 has been retroactively adjusted from 2,356.5 yen to 2,355.0 yen as of April 1, 2024, in accordance with the conversion price adjustment provisions.