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Notice Regarding Adjustment of Conversion Price for Zero Coupon Convertible Bonds due 2019 and 2021

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Jun. 25, 2019

Toray Industries, Inc.

Toray Industries, Inc. (headquarters: Chuo-ku, Tokyo; President: Akihiro Nikkaku; hereinafter referred to as the “Company”) hereby announces the adjustment of conversion price for the Zero Coupon Convertible Bonds due 2019 and 2021 issued by the Company (the “Bonds”).

Adjustment of Conversion Price
Name of issue Conversion price
prior to the adjustment		 Conversion price
after the adjustment
Zero Coupon Convertible Bonds due 2019 ¥879.5 ¥872.7
Zero Coupon Convertible Bonds due 2021 ¥816.4 ¥810.1

Effective date
As of April 1, 2019

Reason for the Adjustment
Adjustment of Conversion Price pursuant to the relevant Condition 5.2.4 of the terms and conditions of the Bonds due to the distribution of an Extraordinary Dividend (as defined in such Condition 5.2.4) resulting from payment of a dividend of ¥16 per Share (aggregate in respect of the fiscal year ended March 31, 2019). The payment of such dividend was approved at the general meeting of our shareholders on June 25, 2019.

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