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TYO:4613

2 stories mentioning TYO:4613Updated 31d ago

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Asia

Kansai Paint Lowers Convertible Bond Prices After Dividend Approval

Kansai Paint (TYO:4613) has adjusted the conversion prices for its 2029 and 2031 zero-coupon convertible bonds downward to 2,676.1 yen from 2,733 yen, effective April 1, according to a Tokyo bourse filing on Friday.The revision follows a 55 yen-per-share year-end dividend that was approved at the shareholders' meeting on June 26, triggering an adjustment clause in the bond terms.The new conversion price's 130% threshold stands at 3,478 yen, which determines whether bondholders can exercise conversion rights during the three months before maturity.

TYO:4613
Asia

Market Chatter: Naphtha Supply Fears Disrupt Japanese Manufacturers Despite Government Reassurances

Kansai Paint Co (TYO:4613) Despite official claims that Japan has enough naphtha for the next four months, many companies dependent on this oil derivative are halting orders or cutting production, Reuters News reported on Wednesday.Manufacturers of thinner-based products, including Kansai Paint(TYO:4613), face legal limits on hazardous material storage and have already adjusted deliveries and raised prices, threatening downstream sectors from plastic toys to housing construction, the publication said.A recent survey by the Japan Painting Contractors Association found that only 2.7% of firms can still obtain thinner as usual, underscoring widespread supply bottlenecks, the news wire said.Over the past week, more than a dozen companies such as Toto(TYO:5332) and Asahi Kasei (TYO:3407) have reported delivery disruptions or price hikes due to difficulties procuring naphtha-derived adhesives, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:3407TYO:4613TYO:5332

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