Risk of Dilution from Stock Options
First written in FY2025. 2 of 3 entries say "Worsened", first in FY2026-H1. Latest entry: FY2026.
Mic moved to the "Worse" side of this theme in 2025, 5 years after the typical company in this theme (2020).
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
32 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「As of 31 March 2026, the number of potential shares from stock acquisition rights was 365,000, equivalent to 5.1% of total shares issued.」
Potential shares increased from 306,000, or 4.3%, in the previous fiscal year to 365,000, or 5.1%, increasing dilution exposure. - FY2026-H1WorsenedAnnual report
「Fifth Series of Stock Acquisition Rights Number of stock acquisition rights 500 (50,000 common shares) / Sixth Series of Stock Acquisition Rights Number of stock acquisition rights 135 (13,500 common shares)」
The Fifth and Sixth Series of Stock Acquisition Rights were issued during the interim period, adding a total of 63,500 potential shares. Exposure to potential dilution of existing shareholders’ share value and voting rights has increased. - FY2025First statedAnnual report
「As of 31 March 2025, the number of potential shares from stock acquisition rights was 306,000, equivalent to 4.3% of total shares issued.」
The company states that it may continue to use incentive schemes for officers and employees, potentially diluting existing shareholders’ share value and voting rights.