Risk of Insufficient Financing Due to Unexercised Stock Acquisition Rights
First written in FY2017-Q3. 21 of 27 entries say "Mitigated", first in FY2017. Latest entry: 2026-10-01.
The whole theme swung hardest in 2025: 3 of 12 companies on the "Worse" side.
11 other companies' latest entry also says "Mitigated".
- FY2025Risk of insufficient financing recurs with the Twentieth Stock Acquisition RightsAnnual report
「In addition, if the stock acquisition rights are not exercised during the exercise period, if the holders lose their rights, or if the Company cancels stock acquisition rights it has acquired, the total amount of funds raised above will decrease.」
The Company has also stated that the expected amount raised through the 20th Stock Acquisition Rights may decline due to unexercised rights, loss of rights or cancellation. - FY2025-H1MitigatedAnnual report
「All 525,000 units of the 19th stock acquisition rights, representing 52,500,000 shares, had been exercised, raising ¥2,605 million.」
Completion of exercise of all of the 19th Stock Acquisition Rights eliminated the risk of a shortfall in the expected amount raised due to unexercised rights. - FY2024-Q2MitigatedAnnual report
「Cumulative funds raised through bonds with stock acquisition rights and other instruments subject to exercise price adjustment provisions as of the end of the quarter (¥ thousand) 2,238,994」
Exercise of the 19th Stock Acquisition Rights progressed, bringing cumulative funds raised to ¥2,238.994 million and reducing the risk of a funding shortfall due to unexercised rights. However, 83,250 rights remain unexercised. - FY2024-Q1MitigatedAnnual report
「Cumulative number of bonds with stock acquisition rights and other instruments subject to exercise price adjustment provisions exercised as of the end of the quarter (rights) 416,750 Cumulative funds raised through bonds with stock acquisition rights and other instruments subject to exercise price adjustment provisions as of the end of the quarter (¥ thousand) 2,124,994」
Exercise of the 19th Stock Acquisition Rights progressed, bringing cumulative funds raised to ¥2,124.994 million and reducing the risk of a funding shortfall due to unexercised rights. However, 108,250 rights remain outstanding as potential shares. - FY2023MitigatedAnnual report
「Number of bonds with stock acquisition rights and other instruments subject to exercise price adjustment provisions exercised during the period (rights) 203,250」
A total of 203,250 of the 19th Stock Acquisition Rights were exercised, raising ¥1,134.911 million, while the Company continues to state that all or some of the remaining rights may not be exercised. - FY2023-Q3MitigatedAnnual report
「Cumulative funds raised through bonds with stock acquisition rights and other instruments subject to exercise price adjustment provisions as of the end of the quarter (¥ thousand) 521,352」
Exercise of the 19th Stock Acquisition Rights progressed, and cumulative funds raised reached ¥521.352 million, reducing to some extent the risk of a funding shortfall due to unexercised rights. However, some rights remain unexercised. - FY2023-Q2Risk of a funding shortfall recurred with the 19th Stock Acquisition RightsAnnual report
「All or some of these stock acquisition rights may not be exercised. Because no funds would be raised through the exercise of these stock acquisition rights, the amount raised may fall below the Company's expected amount.」
The Company has disclosed that all or some of the 19th Stock Acquisition Rights may not be exercised and that the amount raised may fall below expectations. - FY2022-Q3MitigatedAnnual report
「The 18th stock acquisition rights issued by the company on 1 September 2021 were exercised, and all rights had been exercised in full.」
Completion of exercise of all of the 18th Stock Acquisition Rights reduced the risk of a funding shortfall due to unexercised rights. - FY2022-Q2MitigatedAnnual report
「Cumulative funds raised through bonds with stock acquisition rights and other instruments subject to exercise price adjustment provisions as of the end of the quarter (¥ thousand) 962,653」
Exercise of the 18th Stock Acquisition Rights progressed, and cumulative funds raised reached ¥962.653 million, further reducing the risk of a funding shortfall due to unexercised rights. - FY2022-Q1MitigatedAnnual report
「Funds raised from exercises during the first quarter (¥ thousand) 345,467」
Exercise of the 18th Stock Acquisition Rights progressed, and cumulative funds raised reached ¥415.805 million, reducing to some extent the risk of a funding shortfall due to unexercised rights. - FY2021-Q3Risk of a funding shortfall recurred with the 18th Stock Acquisition RightsAnnual report
「In addition, if the stock acquisition rights are not exercised during the exercise period, if the holders lose their rights, or if the Company cancels stock acquisition rights it has acquired, the total amount of funds raised above will decrease.」
While exercise of the 17th Stock Acquisition Rights progressed, the Company newly stated that the expected amount raised through the 18th Stock Acquisition Rights could decline due to unexercised rights and other factors. - FY2021-Q2MitigatedAnnual report
「Cumulative number of bonds with stock acquisition rights and other instruments subject to exercise price adjustment provisions exercised as of the end of the quarter 158,050」
Exercise of the 17th Stock Acquisition Rights reached a cumulative 158,050 rights, with cumulative funds raised reaching ¥1,017.188 million, further reducing the risk of a funding shortfall due to unexercised rights. - FY2021-Q1MitigatedAnnual report
「Cumulative number of bonds with stock acquisition rights and other instruments subject to exercise price adjustment provisions exercised as of the end of the quarter 113,550」
Exercise of the 17th Stock Acquisition Rights reached a cumulative 113,550 rights, with funds raised reaching ¥761.123 million, reducing the risk of a funding shortfall due to unexercised rights. - FY2020-Q3MitigatedAnnual report
「Following the end of the third quarter, exercise of all of the 16th Stock Acquisition Rights issued by the Company on 6 July 2020 was completed as of 4 August 2020.」
In addition to the 14th and 15th Stock Acquisition Rights, all of the 16th Stock Acquisition Rights were exercised, reducing the risk of a funding shortfall due to unexercised rights. - FY2020-Q2MitigatedAnnual report
「Cumulative number of bonds with stock acquisition rights and other instruments subject to exercise price adjustment provisions exercised as of the end of the second quarter 108,850」
Exercise of the 14th Stock Acquisition Rights reached a cumulative 108,850 rights, reducing the risk of a funding shortfall. In addition, on 11 May 2020, after the filing, exercise of all of the 14th Stock Acquisition Rights was completed. - FY2020-Q1MitigatedAnnual report
「Cumulative number of bonds with stock acquisition rights and other instruments subject to exercise price adjustment provisions exercised as of the end of the quarter 71,900」
Exercise of the 14th Stock Acquisition Rights reached a cumulative 71,900 rights, reducing to some extent the risk of a funding shortfall due to unexercised rights. - FY2019-Q3WorsenedAnnual report
「If, after the issuance of these stock acquisition rights, the share price of the Company's common stock falls significantly, the average trading volume of the Company's common stock on the Tokyo Stock Exchange declines significantly, or the allottee holds unexercised stock acquisition rights one month before the expiration of the exercise period, among other cases, and the allottee requests that the Company acquire the stock acquisition rights, the amount raised may fall below the Company's expected amount because no funds would be raised through the exercise of the stock acquisition rights.」
In addition to the feasibility issues surrounding the funds raised through the 13th Stock Acquisition Rights, the Company has disclosed the risk that the amounts raised through the 14th and 15th Stock Acquisition Rights may fall below expectations due to the share price, trading volume and unexercised rights outstanding. - FY2019-Q1MitigatedAnnual report
「Number of shares delivered upon exercise during the relevant quarterly accounting period (shares): 100,000 Financing proceeds from exercises during the relevant quarterly accounting period (thousand yen): 9,500」
The additional exercise of the 13th stock acquisition rights partially reduced the risk of insufficient financing from unexercised rights. - FY2018-Q3MitigatedAnnual report
「The 12th stock acquisition rights issued by the company on 19 June 2017, the 4th unsecured convertible bond-type bonds with stock acquisition rights issued on 13 February 2018, and the 13th stock acquisition rights were exercised.」
The 13th stock acquisition rights resulted in the delivery of 1,665,000 shares and ¥174.385 million in financing proceeds, partially reducing the risk of insufficient financing due to failure to exercise the rights. - FY2018-Q2Recurs with the new 13th stock acquisition rightsAnnual report
「If financing is not obtained through the exercise of these stock acquisition rights, the amount raised may fall below the amount assumed by the Company.」
For the 13th stock acquisition rights, the filing states minimum proceeds of ¥1,653 million assuming full exercise, while noting that the allottee may submit a purchase request depending on the share price, trading volume and other factors, potentially resulting in proceeds below the assumed amount. - FY2017MitigatedAnnual report
「After the end of the consolidated fiscal year, all of the 12th stock acquisition rights issued by the company on 19 June 2017 had been exercised, with exercise completed in full on 12 October 2017.」
All of the 12th stock acquisition rights were exercised after the fiscal year-end, reducing the risk of insufficient financing from unexercised rights through the issuance of 650,000 shares and increases of ¥37.906 million each in capital stock and capital surplus. - FY2017-Q3First statedAnnual report
「If financing is not obtained through the exercise of these stock acquisition rights, the amount raised may fall below the amount assumed by the Company.」
The Company disclosed a lower exercise price of ¥79 and a minimum financing amount of ¥987,500,000 assuming full exercise of the Twelfth Stock Acquisition Rights, and stated that financing could fall below expectations if the share price or trading volume triggered a repurchase request by the allottee.