Reducing Financial Burden and Dilution Through the Partial Acquisition and Cancellation of Class B Shares
First written in FY2019-Q2. 2 of 5 entries say "Advanced", first in FY2023-Q1. Latest entry: FY2023.
The whole theme swung hardest in 2026: 1 of 8 companies on the "Worse" side.
1 other company's latest entry also says "Advanced".
- FY2023AdvancedAnnual report
「The Company acquired a portion of the Class B Shares on 15 March 2023 and completed their cancellation on 28 March. As a result, the total number of issued shares decreased by 807, leaving 57,775 thousand issued shares outstanding.」
The Company acquired and cancelled 807 Class B Shares, reducing the issued Class B Shares to 944. The reduction in the dividend burden, dilution and redemption payments is progressing further. - FY2023-Q1AdvancedAnnual report
「Class B Shares (These shares are bonds with share acquisition rights, etc., with a provision for adjustment of the exercise price.) 1,751」
The number of issued Class B Shares has changed from the 1,?559 shares reported previously to 1,751, indicating a further decrease in the outstanding Class B Shares. - FY2020-Q1AchievedAnnual report
「Class B Shares (These shares are bonds with share acquisition rights, etc., with a provision for adjustment of the exercise price.) 2,559 2,559」
The number of issued Class B Shares is now 2,559, a decrease of 3,200 from 5,759 in the previous filing. The previously reported plan to acquire and cancel 3,200 shares is reflected in the number of shares. - FY2019-Q3RestatedAnnual report
「At a meeting of the Board of Directors held on 8 November 2018, the Company resolved to acquire for cash a portion of the Class B Shares it had issued, equivalent to ¥3.2 billion of the amount paid in, pursuant to Article 13-3, paragraph 6 of the Company's Articles of Incorporation (provisions for acquisition in exchange for cash), and, subject to that acquisition, to cancel the shares pursuant to Article 178 of the Companies Act.」
The filing continues to describe the plan to acquire and cancel 3,200 Class B Shares for a total of ¥3,269,515,840 on 28 February 2019. As of the filing date, the acquisition and cancellation had not been carried out. - FY2019-Q2First statedAnnual report
「Based on the results for the fiscal year ended March 2018 and taking into account the progress of results for the current fiscal year, the Company determined that it would be appropriate to begin redeeming the Class B Shares as soon as possible, to the extent feasible based on its current net assets and cash and deposits. Accordingly, the Company decided to acquire and cancel a portion of the Class B Shares. These measures are intended to address the Company's medium- to long-term financial issues, including the future dividend burden associated with the Class B Shares, dilution of common shares and substantial cash outlays at times not intended by the Company.」
The filing describes a plan approved by the Board of Directors on 8 November 2018 to acquire and cancel 3,200 Class B Shares for a total of ¥3,269,515,840. The acquisition date and effective date of cancellation are stated as 28 February 2019.