TYO:6330

SMBC Nikko Downgrades Toyo Engineering to Neutral from Outperform; Price Target is 2,000 Yen

Toyo Engineering to Cancel All Class A Preferred Shares

Toyo Engineering (TYO:6330) will cancel 6.2 million class A preferred shares, representing all such shares outstanding, effective April 30, according to a Thursday filing on the Tokyo Stock Exchange.Following the cancellation, the company will have 58.8 million common shares outstanding and no preferred shares.