|
January 7, 2002
HONDA TO CHANGE RATIO OF ADR PROGRAM
TOKYO, January 7, 2002 -- Honda Motor Co., Ltd. (NYSE: HMC) today announced a ratio change of its American Depositary Receipt ("ADR") program -- from two shares of Honda's underlying common stock per one American Share (which is represented by "ADR") to one-half of one share of common stock per American Share. As a result, one ADR, which currently represents two shares of common stock in Honda, will represent one-half of one common stock. This four-for-one ADR split will take effect January 10, 2002 and will be handled by Honda's depositary, JPMORGAN CHASE BANK.
This change was made in order to make the per ADR share price more attractive for U.S. investors, particularly individual investors," said Mr. Satoshi Aoki, Senior Managing Director of Honda Motor Co., Ltd. "Honda expects that this change will help increase the number of ADR holders in the United States."
This is the third time since its first issuance of ADRs in 1962 that Honda has changed the basis of issuance for its ADRs. Honda became the first Japanese automaker traded on the NYSE in 1977. Honda will celebrate its 25th anniversary of listing ADRs on the NYSE in February 2002.
The 52 week high and low for Honda's American Shares were $92.35 (August 2, 2001) and $54.59 (September 21, 2001), closing at $ 82.90 Friday, January 4, 2002.
Honda's shares are also listed outside Japan on the London, Euronext Paris and Swiss stock exchanges.
Honda is the world's preeminent engine-maker, with 2001 production of more than 12 million engines globally for its diverse line-up of automobiles, motorcycles and power products. Honda builds these products in 120 plants in 32 nations around the world. In addition to being one of the world's leading automakers, Honda is the largest motorcycle producer in the world.
|
|
