Nippon Sheet Glass Delisting Moved to September 28

On August 21, Nippon Sheet Glass Co., Ltd. announced that its common shares are expected to be delisted from the Tokyo Stock Exchange on September 28, moving the previously scheduled November delisting forward. The Nippon Sheet Glass Co Ltd delisting follows completion of all required procedures under domestic and foreign competition laws, foreign direct investment laws and regulations. The final trading date is scheduled for September 25, establishing a defined timetable for shareholders and other market participants ahead of the company’s planned transition away from public trading.

Third-Party Share Allotment

As part of the restructuring process, Nippon Sheet Glass plans to complete a third-party allotment of new shares totaling approximately JPY 165 billion on August 31. The new shares will be issued to Lumina Japan Acquisition Co Ltd, a special purpose company owned by funds managed by affiliates of Apollo Global Management Inc. The shares are scheduled to be designated for delisting on the same day, linking the capital injection directly with the company’s transition toward the next stage of its ownership and capital structure.

Delisting and Capital Restructuring Timeline

The revised schedule brings several major corporate actions into a concentrated period. Trading in Nippon Sheet Glass shares is scheduled to end on September 25, followed by the expected Tokyo Stock Exchange delisting on September 28. The company then plans to implement the share consolidation and Quasi-DES on September 30. These actions form part of the broader capital restructuring following the approximately JPY 165 billion third-party allotment and are intended to complete the planned changes to the company’s capital structure.

Regulatory Procedures Completed

The earlier-than-planned delisting became possible after all required procedures under applicable domestic and foreign competition laws, foreign direct investment laws and regulations were completed. This regulatory milestone allowed the company to bring forward the timetable from November to September. The sequence is significant because the transaction involves a third-party share allotment, a special purpose company and funds managed by affiliates of Apollo Global Management, requiring the relevant legal and regulatory processes to be completed before the restructuring could proceed according to the revised schedule.

What Happens After Delisting

Following the expected delisting, the company’s planned capital restructuring will proceed with the share consolidation and Quasi-DES scheduled to take effect on September 30. The sequence indicates that the delisting is not an isolated market action but part of a broader restructuring process involving new share issuance and subsequent changes to the company’s capital structure. With September 25 set as the last trading date and September 30 identified for the next restructuring steps, the announced timetable provides a clear sequence for the transition.

Frequently Asked Questions

When will Nippon Sheet Glass shares be delisted from the Tokyo Stock Exchange?
The company expects its common shares to be delisted from the Tokyo Stock Exchange on September 28, after the previously planned November date was brought forward. The last scheduled trading date is September 25. The change follows completion of required procedures under domestic and foreign competition laws and foreign direct investment laws and regulations. Nippon Sheet Glass also plans to complete a JPY 165 billion third-party allotment on August 31 before the share consolidation and Quasi-DES take effect on September 30.