Securing the tradable share ratio for the transition to the Prime Market
First written in FY2021. 2 of 4 entries say "Advanced", first in FY2022-Q1. Latest entry: FY2022.
1 other company's latest entry also says "Achieved".
- FY2022AchievedAnnual report
「On 4 April 2022, we transferred from the First Section to the Prime Market following the Tokyo Stock Exchange's revision of its market segments.」
The move to the Prime Market was completed. The results of implementing the previous target regarding measures to secure the tradable share ratio were disclosed. - FY2022-Q2AdvancedAnnual report
「During the second quarter accounting period, the share acquisition rights related to the exercise status of bonds with share acquisition rights subject to an exercise-price adjustment clause and similar instruments were exercised as follows.」
As part of the measures to secure the tradable share ratio for a move to the Prime Market, 2,889 Series 10 share acquisition rights were exercised and 2,889,000 shares were delivered. - FY2022-Q1AdvancedAnnual report
「This scheme combines the issuance of these share acquisition rights with the acquisition of treasury shares. The common shares acquired through the treasury share acquisition are expected to be delivered, when these share acquisition rights with an exercise-price adjustment clause are exercised, at prices higher than the treasury share acquisition price.」
The company moved into the execution phase of a scheme combining treasury share acquisitions and the issuance of share acquisition rights to secure the tradable share ratio for a move to the Prime Market. This filing does not state that the move to the Prime Market was completed. - FY2021First statedAnnual report
「We plan to move to the Prime Market, which is intended for companies with a market capitalization and liquidity sufficient to attract many institutional investors, higher governance standards, and a commitment to sustainable growth and enhancing corporate value over the medium to long term, centered on constructive dialogue with investors. However, to avoid reduced liquidity and lower shareholder value resulting from being classified in the Standard Market because the tradable share ratio under the new criteria would be below 35%, we determined that it would be desirable to implement the current initiative, combining the acquisition of treasury shares with the issuance of share acquisition rights.」
The company first explicitly stated its policy of combining treasury share repurchases with the issuance of share acquisition rights to prepare for a move to the Prime Market and avoid classification in the Standard Market due to a tradable share ratio below 35%.