Worth reading
65In focus
Scored from 3 of 5 sectionsDirection
Deterioration
Direction inferred from the company’s description.Scale
843236
Thousands of yen (actual proceeds from the Seventh and Eighth Stock Acquisition Rights)Wording
Definitive
How definitive the wording is.Details of issuance or disposal
Issuance of new shares and the Seventh and Eighth Stock Acquisition Rights through a third-party allotment (change in the use of funds from previously issued securities)
Amount of funds to be raised
Total proceeds from the new shares: ¥149.2 million (actual amount allocated after deducting issuance expenses: ¥142,605,256); actual proceeds from the Seventh and Eighth Stock Acquisition Rights: ¥843.236 million (originally planned proceeds: ¥972.036 million)
Estimated issuance expenses
¥6,594,744 (new shares)
Specific use of funds
Purchase funding for ferrous and non-ferrous metals by the CompanyAmount ¥149.2 million (actual amount allocated: ¥142,605,256) / Scheduled timing of expenditures November 2024 (actual spending)
Purchase funding for ferrous and non-ferrous metals by the Company’s subsidiary Kitayama ShojiAmount ¥850.8 million (actual proceeds: ¥441.54 million) / Scheduled timing of expenditures November 2024 to October 2026 (actual spending period: June 2025 to June 2026)
Plastic purchase funding by the Company’s subsidiary Daito ShokaiAmount ¥55 million (actual proceeds: ¥40 million) / Scheduled timing of expenditures November 2024 to October 2026 (actual spending period: October 2025 to March 2026)
Metal purchase funding by the CompanyAmount ¥242.536 million (actual proceeds: ¥157.014 million) / Scheduled timing of expenditures November 2024 to October 2026 (actual spending period: November 2024 to June 2026)
Working capital of the Company (rent and salaries)Amount ¥13.6 million (actual proceeds: ¥13.293 million) / Scheduled timing of expenditures May 2025 to October 2026 (actual spending period: May 2025 to October 2025)
Repayment of the Company’s borrowings (repayment to banks)Amount ¥1.4 million (actual proceeds: ¥1.389 million) / Scheduled timing of expenditures June 2025 to October 2026 (actual spending period: June 2025)
Repayment of the Company’s borrowings (repayment to an affiliated company)Amount ¥87 million (actual proceeds: ¥87 million) / Scheduled timing of expenditures June 2025 to September 2026 (actual spending period: June 2025 to September 2026)
Repayment of the Company’s borrowings (repayment to an individual)Amount ¥23 million (actual proceeds: ¥23 million) / Scheduled timing of expenditures June 2025
Purchase funding by the Company’s subsidiary Ryuichi Shoji (loan)Amount ¥80 million (actual proceeds: ¥80 million) / Scheduled timing of expenditures August 2025 to October 2025
Terms of the stock acquisition rights
Exercise price
As disclosed on 19 May 2025, the actual planned proceeds were ¥972.036 million following an adjustment to the exercise price; initial exercise price and floor: Not disclosed
Number of Stock Acquisition Rights
Unexercised stock acquisition rights remain outstanding; number: Not disclosed
Procedures under the Corporate Code of Conduct
The change in the use of funds was approved at a meeting of the Board of Directors held on 19 August 2026; going forward, changes will be submitted to the Board of Directors for approval in advance, followed by timely disclosure after approval
Most recent equity financing
Timing 30 October 2024 / Type Issuance of new shares and the Seventh and Eighth Stock Acquisition Rights through a third-party allotment / Amount New shares: ¥149.2 million; Seventh and Eighth Stock Acquisition Rights: ¥1,353.336 million (total originally intended use after the change); actual proceeds: ¥843.236 million
Impact on Business Performance
This matter will have no impact on the consolidated earnings forecast of the Company's group.
| Item | Details |
|---|---|
| Type of issuance or disposal | Issuance of new shares and the Seventh and Eighth Stock Acquisition Rights through a third-party allotment (change in the use of funds from previously issued securities) |
| Amount of funds to be raised | Total proceeds from the new shares: ¥149.2 million (actual amount allocated after deducting issuance expenses: ¥142,605,256); actual proceeds from the Seventh and Eighth Stock Acquisition Rights: ¥843.236 million (originally planned proceeds: ¥972.036 million) |
| Estimated issuance expenses | ¥6,594,744 (new shares) |
| Specific use of funds | Details Purchase funding for ferrous and non-ferrous metals by the Company / Amount ¥149.2 million (actual amount allocated: ¥142,605,256) / Scheduled timing of expenditures November 2024 (actual spending), Details Purchase funding for ferrous and non-ferrous metals by the Company’s subsidiary Kitayama Shoji / Amount ¥850.8 million (actual proceeds: ¥441.54 million) / Scheduled timing of expenditures November 2024 to October 2026 (actual spending period: June 2025 to June 2026), Details Plastic purchase funding by the Company’s subsidiary Daito Shokai / Amount ¥55 million (actual proceeds: ¥40 million) / Scheduled timing of expenditures November 2024 to October 2026 (actual spending period: October 2025 to March 2026), Details Metal purchase funding by the Company / Amount ¥242.536 million (actual proceeds: ¥157.014 million) / Scheduled timing of expenditures November 2024 to October 2026 (actual spending period: November 2024 to June 2026), Details Working capital of the Company (rent and salaries) / Amount ¥13.6 million (actual proceeds: ¥13.293 million) / Scheduled timing of expenditures May 2025 to October 2026 (actual spending period: May 2025 to October 2025), Details Repayment of the Company’s borrowings (repayment to banks) / Amount ¥1.4 million (actual proceeds: ¥1.389 million) / Scheduled timing of expenditures June 2025 to October 2026 (actual spending period: June 2025), Details Repayment of the Company’s borrowings (repayment to an affiliated company) / Amount ¥87 million (actual proceeds: ¥87 million) / Scheduled timing of expenditures June 2025 to September 2026 (actual spending period: June 2025 to September 2026), Details Repayment of the Company’s borrowings (repayment to an individual) / Amount ¥23 million (actual proceeds: ¥23 million) / Scheduled timing of expenditures June 2025, Details Purchase funding by the Company’s subsidiary Ryuichi Shoji (loan) / Amount ¥80 million (actual proceeds: ¥80 million) / Scheduled timing of expenditures August 2025 to October 2025 |
| Exercise price | As disclosed on 19 May 2025, the actual planned proceeds were ¥972.036 million following an adjustment to the exercise price; initial exercise price and floor: Not disclosed |
| Number of Stock Acquisition Rights | Unexercised stock acquisition rights remain outstanding; number: Not disclosed |
| Procedures under the Corporate Code of Conduct | The change in the use of funds was approved at a meeting of the Board of Directors held on 19 August 2026; going forward, changes will be submitted to the Board of Directors for approval in advance, followed by timely disclosure after approval |
| Most recent equity financing | Timing 30 October 2024 / Type Issuance of new shares and the Seventh and Eighth Stock Acquisition Rights through a third-party allotment / Amount New shares: ¥149.2 million; Seventh and Eighth Stock Acquisition Rights: ¥1,353.336 million (total originally intended use after the change); actual proceeds: ¥843.236 million |
| Impact on Business Performance | This matter will have no impact on the consolidated earnings forecast of the Company's group. |
Items this document does not state (19)
Number of shares to be issued or disposed ofIssue price and disposal priceTotal issue valuePayment dateIntended allotteeIntended allottee's holding policyDilution RateTotal number of issued sharesBasis for determining the amount to be paidExercise periodTransfer restriction periodConditions for lifting transfer restrictionsReason for acquisition without considerationCategories and Number of Persons CoveredTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentStock Split RatioMajor shareholders after the offering
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.A review of the allocation of the proceeds found a material discrepancy between the uses of funds initially disclosed and their actual use. The Company explained that, while prioritizing funding needs, it allocated the proceeds without sufficiently confirming consistency with the disclosed uses of funds, and that its management framework for separately managing the proceeds and conducting timely reviews had also not functioned adequately.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.