Share dilution from convertible bonds and other instruments
First written in FY2016. 2 of 7 entries say "Softened", first in FY2022. Latest entry: FY2024.
Yakiniku Sakai Holdings moved to the "Worse" side of this theme in 2020, 2 years after the typical company in this theme (2018).
0 other companies' latest entry also says "Dropped".
- FY2024DroppedAnnual report
「The decrease of 1,609,195 shares related to the 10th series of convertible bonds with stock acquisition rights resulted from the redemption of 1,609,195 shares at maturity.」
The remaining 10th-series convertible bonds with stock acquisition rights decreased through redemption at maturity, leaving zero shares underlying convertible bonds with stock acquisition rights at the end of the fiscal year. - FY2023SoftenedAnnual report
「If the 10th series of unsecured convertible bonds with stock acquisition rights issued by our group is converted into shares, the number of shares outstanding will increase and the per-share value of our company and group companies may be diluted. This dilution could affect the formation of the share price.」
The dilution risk was limited to the 10th series of convertible bonds with stock acquisition rights. The outstanding balance was ¥70 million and the number of shares underlying the rights was 1,609,195. - FY2022SoftenedAnnual report
「If the 10th and 11th series of unsecured convertible bonds with stock acquisition rights issued by our group are converted into shares, the number of shares outstanding will increase and the per-share value of our company and group companies may be diluted. This dilution could affect the formation of the share price.」
The 7th, 8th, 13th and 14th series and other bonds whose rights had previously been exercised were excluded from the scope of the disclosure, narrowing the dilution risk to the 10th and 11th series. - FY2020MaterialisedAnnual report
「On 7 May 2020, all of the 7th, 8th, 13th and 14th series of unsecured convertible bonds with stock acquisition rights and part of the 10th series were exercised. Decrease in convertible bonds with stock acquisition rights: ¥1,630,000 thousand; type and number of shares issued: 42,814,424 common shares」
The exercise of the stock acquisition rights attached to the convertible bonds resulted in 42,814,424 shares being issued by the filing date, with part of the potential dilution materialising as an actual increase in shares. - FY2019Disclosure of the number of potential sharesAnnual report
「If the 7th, 8th, 10th, 11th, 13th and 14th series of unsecured convertible bonds with stock acquisition rights issued by our group are converted into shares, the number of shares outstanding will increase and the per-share value of our company and group companies may be diluted. This dilution could affect the formation of the share price.」
The dilution risk was reiterated, and 51,320,170 common shares were disclosed as potential shares. - FY2017RestatedAnnual report
「If the 7th, 8th, 10th, 11th, 13th and 14th series of unsecured convertible bonds with stock acquisition rights issued by our group are converted into shares, the number of shares outstanding will increase and the per-share value of our company and group companies may be diluted. This dilution could affect the formation of the share price.」
The risk of an increase in shares outstanding and dilution resulting from the conversion of convertible bonds into shares was reiterated. - FY2016First statedAnnual report
「If the 7th, 8th, 10th, 11th, 13th and 14th series of unsecured convertible bonds with stock acquisition rights issued by our group are converted into shares, the number of shares outstanding will increase and the per-share value of our company and group companies may be diluted. This dilution could affect the formation of the share price.」
The risk identified is an increase in shares outstanding and dilution of per-share value resulting from the conversion of convertible bonds into shares.