What is last cum-rights day?Last Cum-Rights Day

To receive a dividend or shareholder perks, you must buy and still hold at the close on this day at the latest. Japanese stocks settle 2 business days after the trade, so it's 2 business days before the record date.

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Japan Stock Rules
T+2 Settlement and the Record Date
Japanese trades settle on the 2nd business day after the trade; to get dividends and shareholder perks, you must hold at the close 2 business days before the record date (the last cum-rights day) at the latest.

Related terms

settlement
T+0
ex-rights day

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