Dilution of Share Value Through the Seventh Series of Stock Acquisition Rights
First written in FY2018. 12 of 29 entries say "Materialised", first in FY2019-Q1. Latest entry: FY2027-H1.
Quantum Solutions moved to the "Worse" side of this theme in 2018, 3 years before the typical company in this theme (2021).
The whole theme swung hardest in 2017: 29 of 55 companies on the "Worse" side.
33 other companies' latest entry also says "Worsened".
- FY2027-H1WorsenedAnnual report
「Common shares 8,214,000 (Note) 1…Common shares 6,000,000 (Note) 1…Balance of bonds with stock acquisition rights (¥ millions)* 2,067」
An additional 8,214,000 potential shares under the 16th series of stock acquisition rights and 6,000,000 under the 17th series were disclosed, along with a balance of ¥2,067 million for the 6th series of unsecured convertible bonds with stock acquisition rights. The potential source of dilution for existing shareholders has increased further. - FY2026WorsenedAnnual report
「As of the end of the month preceding the month in which this annual securities report was filed (30 April 2026), the number of potential shares under the Company's stock acquisition rights was 52,073,500 in total, equivalent to 105.9% of the 49,132,796 issued shares outstanding after deducting treasury shares as of the same date.」
Potential shares under stock acquisition rights totaled 52,073,500, representing 105.9% of issued shares outstanding, substantially increasing potential dilution from 47.0% in the previous fiscal year. - 2026-04-14MaterialisedOccurring Fact
「Issuance of new shares (exercise of stock acquisition rights) 978,717 978,717 978,717」
New shares were issued through the exercise of stock acquisition rights during the current fiscal year, increasing the number of shares issued at period-end from 45,714,093 to 49,248,593. - FY2026-H1WorsenedAnnual report
「Potential shares from the issuance: Common shares 14,000,000…Potential shares from the issuance: Common shares 20,000,000…Potential shares from the issuance: 3,200,000 shares…Potential shares from the issuance: 6,800,000 shares」
Following the filing, an additional 44,000,000 potential shares were disclosed through the 13th and 14th series of stock acquisition rights and the 4th and 5th series of bonds with stock acquisition rights. These instruments represent a substantially increased potential source of dilution for existing shareholders' equity value and voting interests. - FY2025MitigatedAnnual report
「As of the end of the month preceding the month in which this annual securities report was filed (30 April 2025), the number of potential shares under the Company's stock acquisition rights was 18,183,600 in total, equivalent to 39.7% of the 45,822,696 issued shares outstanding after deducting treasury shares as of the same date.」
Potential shares under stock acquisition rights totaled 18,183,600, representing 39.7% of issued shares outstanding. Although the percentage declined from 47.0% in the previous fiscal year, the potential for dilution remains substantial. - FY2025-H1MaterialisedAnnual report
「The Company issued new shares following the partial exercise of the 10th series of stock acquisition rights on 2 April 2024 and the partial exercise of the 12th series of stock acquisition rights through third-party allotments on 10 May, 7 June, 7 August and 16 August 2024.」
The partial exercise of the 10th and 12th series of stock acquisition rights resulted in the issuance of 30,356,762 shares during the interim consolidated accounting period, realizing a potential source of dilution through the actual issuance of shares. This includes the impact of the stock split. - FY2025-Q1MaterialisedAnnual report
「1 March 2024–31 May 2024 397,500 44,007,093 54,014 3,322,619 54,014 2,338,819 (Note) 1. Pursuant to a resolution of the Board of Directors meeting held on 19 January 2024, the Company conducted a 3-for-1 stock split of its common shares effective 1 March 2024.」
The exercise of stock acquisition rights resulted in the issuance of 397,500 shares during the quarter, realizing a potential source of dilution through the actual issuance of shares. - FY2024WorsenedAnnual report
「As of the end of the month preceding the month in which this annual securities report was filed (30 April 2024), the number of potential shares under the Company's stock acquisition rights was 20,490,000 in total, equivalent to 47.0% of the 43,516,296 issued shares outstanding after deducting treasury shares as of the same date.」
Potential shares under stock acquisition rights totaled 20,490,000, equivalent to 47.0% of issued shares outstanding after deducting treasury shares, substantially increasing potential dilution from 27.5% in the previous fiscal year. - FY2024-Q3MaterialisedAnnual report
「The Company issued 999,400 new shares in total following the exercise of stock acquisition rights in April, June and November 2023.」
The exercise of stock acquisition rights resulted in the actual issuance of 999,400 shares, realizing a potential source of dilution through the issuance of shares. - FY2024-Q2WorsenedAnnual report
「Class, description and number of shares underlying the stock acquisition rights (shares)* Common shares: 6,560,000」
The Series 12 stock acquisition rights added 6,560,000 potential shares, increasing the potential dilution of existing shareholders’ share value and voting rights. - FY2024-Q1MaterialisedAnnual report
「On 25 April 2023, the Company issued new shares following the exercise by Cheung Yuk Shan Shirley (張玉珊) of the Series 11 stock acquisition rights.」
The exercise of the Series 11 stock acquisition rights resulted in the issuance of 129,000 shares, showing that a potential dilution factor had materialized as an actual share issuance. - FY2023-Q3RestatedAnnual report
「1 September 2022 to 30 November 2022 670,000 13,402,631 99,578 2,912,293 99,578 1,928,493 (Note) The increases resulted from the exercise of stock acquisition rights.」
The issuance of 670,000 shares through the exercise of the Series 9 stock acquisition rights was confirmed as an increase in issued shares during the quarter, reaffirming the realization of potential dilution. - FY2023-Q2MaterialisedAnnual report
「1 June 2022–31 August 2022 1,036,400 12,732,631 154,034 2,812,714 154,034 1,828,914 (Note) Increase due to the exercise of stock acquisition rights.」
The exercise of the Series 9 stock acquisition rights resulted in the issuance of 1,036,400 shares during the cumulative second quarter, showing that a potential dilution factor had materialized as an actual share issuance. An additional 670,000 shares were issued after the filing. - FY2022MitigatedAnnual report
「The total number of potential shares represented by the Company’s stock acquisition rights was 3,207,800, equivalent to 27.5% of the 11,657,704 issued shares after deducting treasury shares as of that date.」
Potential shares totaled 3,207,800, representing 27.5% of issued shares, so the potential dilution declined from 32.0% in the previous fiscal year. - FY2022-Q3MaterialisedAnnual report
「In addition, on 19 November of the same year, the Company received the exercise of the Eighth Series Stock Acquisition Rights from Kingdom Capital Resources Ltd and issued new shares, increasing capital stock and capital reserves by ¥98.968 million each.」
The exercise of the Series 8 stock acquisition rights resulted in the issuance of 400,000 shares, showing that a potential dilution factor had materialized as an actual share issuance. - FY2021WorsenedAnnual report
「As of 30 April 2021, the end of the month preceding the month in which this annual securities report was filed, the total number of potential shares represented by the Series 8 through Series 11 stock acquisition rights and other rights was 3,602,800, equivalent to 32.0% of the 11,257,734 issued shares after deducting treasury shares as of that date.」
For the Series 8 through Series 11 stock acquisition rights and other rights, potential shares totaled 3,602,800, equivalent to 32.0% of issued shares, expanding the potential dilution from 30.6% previously. - FY2021-Q3WorsenedAnnual report
「Series 11 stock acquisition rights Class, description and number of shares underlying the stock acquisition rights (shares)* Common shares: 1,128,900 Series 3 unsecured convertible bonds with stock acquisition rights Class, description and number of shares underlying the stock acquisition rights (shares)* Common shares: 483,870」
The issuance of the Series 11 stock acquisition rights and the Series 3 unsecured convertible bonds with stock acquisition rights added a total of 1,612,770 potential shares, increasing the potential dilution factor. - FY2021-Q1WorsenedAnnual report
「A total of 4,775 stock acquisition rights will be allocated to 9 directors of the Company and directors and employees of its subsidiaries.」
In addition to the Series 7 through Series 9 stock acquisition rights and other rights, the allocation of 4,775 stock options to directors, subsidiary directors and employees was approved, adding a potential source of dilution to share value and voting rights. - FY2020RestatedAnnual report
「As of 30 April 2020, the end of the month preceding the month in which this annual securities report was filed, the total number of potential shares represented by the Series 7 through Series 9 stock acquisition rights and other rights was 3,294,000, equivalent to 30.6% of the 10,773,961 issued shares after deducting treasury shares as of that date.」
For the Series 7 through Series 9 stock acquisition rights and other rights, potential dilution is reaffirmed in the full-year disclosure at 3,294,000 potential shares, equivalent to 30.6% of issued shares. - FY2020-Q3MaterialisedAnnual report
「The increases in the total number of issued shares, stated capital and capital surplus resulted from the exercise of the stock acquisition rights attached to the Series 2 unsecured convertible bonds with stock acquisition rights.」
The exercise of the stock acquisition rights attached to the Series 2 unsecured convertible bonds with stock acquisition rights resulted in the issuance of 2,730,374 shares, showing that potential dilution had materialized as an actual share issuance. - FY2020-Q2MaterialisedAnnual report
「(4) Number of potential shares resulting from the issuance: 1,706,400 shares” “(4) Number of potential shares resulting from the issuance: 2,730,200 shares”」
The issuance of the Series 9 stock acquisition rights and the Series 2 unsecured convertible bonds with stock acquisition rights newly disclosed a total of 4,436,600 potential shares, making the potential dilution of share value and voting rights more concrete. - FY2019MaterialisedAnnual report
「As of 30 April 2019, the end of the month preceding the month in which this annual securities report was filed, the total number of potential shares represented by the Series 7 and Series 8 stock acquisition rights and other rights was 1,587,600, equivalent to 19.7% of the 8,043,587 issued shares after deducting treasury shares as of that date.」
Even after the partial exercise of the Series 7 and Series 8 stock acquisition rights, 1,587,600 potential shares remained, continuing to quantify potential dilution at the equivalent of 19.7% of issued shares. - FY2019-Q3MaterialisedAnnual report
「The company raised funds on 3 December 2018, 20 December 2018 and 7 January 2019 through the partial exercise of the Eighth Series stock acquisition rights issued to KINGDOM CAPITAL RESOURCES LIMITED on 5 November 2018.」
The partial exercise of the Series 8 stock acquisition rights resulted in the issuance of 1,000,000 common shares, increasing the total number of issued shares to 8,081,987 as of the filing date, showing that potential dilution from the stock acquisition rights had materialized as an actual share issuance. - FY2019-Q1MaterialisedAnnual report
「1 March 2018–31 May 2018 (Note) 820,000 7,081,987 278,084 1,762,291 278,084 1,354,315 (Note) Increase due to the exercise of stock acquisition rights.」
The exercise of stock acquisition rights resulted in the issuance of 820,000 shares during the quarter, increasing the total number of issued shares. Potential dilution from the stock acquisition rights materialized as an actual share issuance. - FY2018First statedAnnual report
「As of 30 April 2018, the end of the month preceding the month in which this annual securities report was filed, the total number of potential shares represented by the Series 7 and other stock acquisition rights was 1,487,600, equivalent to 22.1% of the 6,743,587 issued shares after deducting treasury shares as of that date. If these stock acquisition rights are exercised, new shares may be issued, potentially diluting the value of shares held by existing shareholders and their voting rights.」
For the Series 7 and other stock acquisition rights, the potential shares are quantified for the first time at 1,487,600, representing 22.1% of issued shares, indicating the potential dilution of existing shareholders’ share value and voting rights.