Dilution of Share Value Through the Exercise of Stock Acquisition Rights
First written in FY2025. 3 of 4 entries say "Materialised", first in FY2026-H1. Latest entry: FY2026.
Ai ROBOTICS moved to the "Worse" side of this theme in 2025, 4 years after the typical company in this theme (2021).
The whole theme swung hardest in 2017: 29 of 55 companies on the "Worse" side.
59 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「The details of the increase in common shares are as follows: Increase due to stock split: 49,328,000 shares; increase due to exercise of stock acquisition rights: 3,894,000 shares.」
The exercise of stock acquisition rights resulted in an increase of 3,894,000 shares during the fiscal year, demonstrating that dilution has continued to occur in practice. - 2026-05-13MaterialisedEarnings
「This was mainly due to increases of ¥42.480 million each in share capital and legal capital surplus from shares issued upon the exercise of stock acquisition rights, and an increase of ¥2,654.824 million in retained earnings from the recognition of net income.」
The full-year results include the issuance of shares upon exercise of stock acquisition rights and the resulting increases in share capital and legal capital surplus. - FY2026-H1MaterialisedAnnual report
「“1 April 2025–30 September 2025 654,000” “This represents an increase resulting from the exercise of stock acquisition rights.” “Between 1 October 2025 and 31 October 2025, the total number of issued shares increased by 220,000 shares through the exercise of stock acquisition rights, to 61,880,000 shares.”」
Stock acquisition rights were actually exercised, resulting in an increase of 654,000 shares during the interim accounting period and a further increase of 220,000 shares in October 2025, before the date of submission. - FY2025First statedAnnual report
「As of the date of submission of this document, the number of potential shares represented by these stock acquisition rights is 1,575,500 shares, equivalent to 13.5% of the total 11,678,000 issued shares. If these stock acquisition rights are exercised, the total number of issued shares will increase and the value per share may be diluted, and this dilution in per-share value may affect the formation of the share price.」
The disclosure states that potential shares total 1,575,500, equivalent to 13.5% of total issued shares, and identifies dilution resulting from the exercise of stock acquisition rights as a risk.