Share-Value Dilution from the Exercise of Stock Acquisition Rights
First written in FY2016. 17 of 27 entries say "Materialised", first in FY2017-Q3. Latest entry: FY2026.
Tokyo Base moved to the "Worse" side of this theme in 2017, 3 years before the typical company in this theme (2020).
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
69 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Series 7 Stock Acquisition Rights: Exercised 500,000」「Unexercised balance: 1,000,000」「Series 9 Stock Acquisition Rights: Unexercised balance 2,000,000」「Series 10 Stock Acquisition Rights: Unexercised balance 900,000」
The exercise of the Series 7 Stock Acquisition Rights resulted in the issuance of 500,000 shares, while an unexercised balance equivalent to a total of 3,900,000 shares remains across multiple series of Stock Acquisition Rights. - 2026-03-17MaterialisedRevision of earnings forecasts
「Proceeds from the issuance of shares through the exercise of stock acquisition rights 116,500」
Proceeds from issuing shares through the exercise of stock acquisition rights were recorded, and shares issued at year-end increased from 43,459,482 to 43,959,482. - FY2025WorsenedAnnual report
「Series 10 Stock Acquisition Rights (paid stock options for the Company's directors)」「Common shares 900,000」「Series 11 Stock Acquisition Rights (tax-qualified stock options for the Company's employees)」「Common shares 250,000」
Stock Acquisition Rights equivalent to 900,000 shares for directors and 250,000 shares for employees were issued, expanding potential dilution exposure. - FY2025-H1WorsenedAnnual report
「Series 10 Stock Acquisition Rights (paid stock options for the Company's directors)」「Common shares 900,000」「Series 11 Stock Acquisition Rights (tax-qualified stock options for the Company's employees)」「Common shares 250,000」
Stock Acquisition Rights equivalent to 900,000 shares for directors and 250,000 shares for employees, totaling 1,150,000 shares, were issued, expanding potential dilution exposure. - FY2024MaterialisedAnnual report
「Exercised: 100,000」「Unexercised balance: 1,900,000 2,000,000」
The exercise of the Series 7 Stock Acquisition Rights resulted in the issuance of 100,000 shares, leaving an unexercised balance of 1,900,000 shares under the program. The Series 9 Stock Acquisition Rights equivalent to 2,000,000 shares also remain outstanding. - FY2023-Q1WorsenedAnnual report
「Number of Stock Acquisition Rights (units)*: 20,000」「Class, details and number of shares underlying the Stock Acquisition Rights (shares)*: Common shares 2,000,000」「Exercise period of the Stock Acquisition Rights*: From 21 April 2022 to 20 April 2027」
Stock Acquisition Rights equivalent to 2,000,000 shares were issued to 2 directors and 1 subsidiary employee, expanding potential dilution exposure. - FY2022MaterialisedAnnual report
「All exercises of the Series 8 Stock Acquisition Rights (with exercise-price adjustment provisions) were completed on 1 November 2021.」
All 25,000 Series 8 Stock Acquisition Rights were exercised, completing the delivery of 2,500,000 shares and raising ¥1,598.319 million. - FY2022-Q3MaterialisedAnnual report
「Number of such bonds with warrants and other instruments with exercise-price adjustment provisions exercised during the quarter (units): 6,517」「Number of shares delivered upon exercise during the quarter (shares): 651,700」「Cumulative number of such bonds with warrants and other instruments exercised as of the end of the quarter (units): 25,000」「Cumulative number of shares delivered (shares): 2,500,000」
651,700 shares were delivered during the quarter and 2,500,000 shares cumulatively through the exercise of the Series 8 Stock Acquisition Rights, resulting in potential dilution actually occurring as an increase in the number of shares. - FY2022-Q2MaterialisedAnnual report
「Number of such bonds with warrants and other instruments with exercise-price adjustment provisions exercised during the quarter (units): 13,683」「Number of shares delivered upon exercise during the quarter (shares): 1,368,300」「Funds raised through exercises during the quarter (¥ thousand): 875,353」
The exercise of stock acquisition rights with exercise-price adjustment provisions resulted in the delivery of 1,368,300 shares during the quarter, and dilution actually occurred through an increase in shares outstanding. - FY2022-Q1MaterialisedAnnual report
「Number of such bonds with warrants and other instruments with exercise-price adjustment provisions exercised during the first quarter (units): 4,800」「Number of shares delivered upon exercise during the quarter (shares): 480,000」「Funds raised through exercises during the quarter (¥ million): 307」
480,000 shares were delivered through the exercise of the Series 8 Stock Acquisition Rights, raising ¥307 million. The increase in the number of shares through the exercise of stock acquisition rights actually occurred. - FY2021MaterialisedAnnual report
「1 March 2020–28 February 2021 (Note) 3 36,000 47,662,800 216 409,874 216 393,874」
During the fiscal year, 36,000 shares were issued through the exercise of stock acquisition rights, increasing total shares issued. - FY2021-Q1WorsenedAnnual report
「Number of stock acquisition rights: 23,000. Class, details and number of shares underlying stock acquisition rights: common stock, 2,300,000 shares. Exercise period for stock acquisition rights: from 31 March 2020 to 30 March 2030」
Stock acquisition rights equivalent to 2,300,000 shares were issued to 3 directors, expanding potential dilution exposure. - FY2020MaterialisedAnnual report
「1 March 2019–29 February 2020 (Note) 6 372,000 47,626,800 5,277 409,658 5,277 393,658」
During the fiscal year, 372,000 shares were issued through the exercise of stock acquisition rights, bringing total shares issued to 47,626,800. - FY2020-Q2MaterialisedAnnual report
「1 June 2019–31 August 2019 (Note) 18,000 47,614,800 243 406,676 243 390,676. (Note: This increase resulted from the exercise of stock acquisition rights.)」
During the second quarter accounting period, 18,000 shares were issued through the exercise of stock acquisition rights, increasing total shares issued. - FY2020-Q1MaterialisedAnnual report
「Increase or decrease in total shares issued: 342,000. (Note: This increase resulted from the exercise of stock acquisition rights.) Expiration of the 6th series of stock acquisition rights (6,600 stock acquisition rights, equivalent to 660,000 common shares)」
During the first quarter, 342,000 shares were added through the exercise of stock acquisition rights, while the 6th series of stock acquisition rights equivalent to 660,000 shares expired. - FY2019MaterialisedAnnual report
「1 March 2018–28 February 2019 (Note) 8 156,000 47,254,800 4,116 404,381 4,116 388,381」
During the fiscal year, 156,000 shares were added through the exercise of stock acquisition rights, bringing total shares issued to 47,254,800. Share issuance related to dilution occurred in practice throughout the year. - FY2019-Q2MaterialisedAnnual report
「Increase or decrease in total shares issued: 18,000. (Note: This increase resulted from the exercise of stock acquisition rights.) 47,164,800」
During the second quarter accounting period, 18,000 shares were issued through the exercise of stock acquisition rights, with dilution continuing to materialize as an actual increase in the number of shares issued. - FY2019-Q1MaterialisedAnnual report
「1 March 2018–31 May 2018 (Note 2) 48,000 47,146,800 3,333 403,598 3,333 387,598. 2. This increase resulted from the exercise of stock acquisition rights.」
During the first quarter, 48,000 shares were issued through the exercise of stock acquisition rights, increasing the number of shares issued, share capital and capital reserves. - FY2018MaterialisedAnnual report
「1 March 2017–28 February 2018 (Note) 6 2,241,000 15,699,600 137,221 400,265 137,221 384,265」
During the fiscal year, 2,241,000 shares were added through the exercise of stock acquisition rights, with dilution materializing as an actual increase in the number of shares issued. - FY2018-Q3MaterialisedAnnual report
「1 September 2017–30 November 2017 (Note 1) 169,300 13,734,600 19,908 310,044 19,908 294,044. From 1 December 2017 through 31 December 2017, the total number of shares issued increased by 1,152,000 shares through the exercise of stock acquisition rights.」
During the third quarter, 169,300 shares were actually issued through the exercise of stock acquisition rights, and a further 1,152,000 shares were added in December before submission. Dilution from the exercise of stock acquisition rights materialized as an actual increase in the number of shares. - FY2018-Q2WorsenedAnnual report
「1 June 2017–31 August 2017 (Note 1) 64,700 13,565,300 26,378 290,136 26,378 274,136. Stock acquisition rights issued during the second quarter accounting period were as follows. Number of shares underlying stock acquisition rights (shares): common stock 266,000」
During the quarter, 64,700 shares were added through the exercise of stock acquisition rights. In addition, stock acquisition rights allowing delivery of 266,000 shares were issued, expanding potential dilution exposure. - FY2018-Q1WorsenedAnnual report
「Increase or decrease in total shares issued: 42,000. (Note: This increase resulted from the exercise of stock acquisition rights.) The total number of shares deliverable upon exercise of these stock acquisition rights is 266,000 shares of our common stock. If the number of shares granted in respect of these stock acquisition rights is adjusted under 4. (1) below, the total will be the adjusted number of shares granted multiplied by the number of stock acquisition rights.」
During the quarter, 42,000 shares were added through the exercise of stock acquisition rights. In addition, as a material subsequent event dated the submission date, a resolution was passed to issue paid stock acquisition rights allowing delivery of 266,000 shares, expanding potential dilution exposure. - FY2017WorsenedAnnual report
「As of the date of submission of this document, the number of potential shares represented by these stock options was 2,610,000, equivalent to 19.4% of the total 13,482,600 shares issued.」
Potential shares increased to 2,610,000, and the ratio to total shares issued rose to 19.4%, expanding dilution exposure from the previously reported 1,227,000 shares and 18.4%. - FY2017-Q3MaterialisedAnnual report
「1 September 2016–30 November 2016 (Note 2) 144,000 13,458,600 2,448 263,043 2,448 247,043」
The exercise of stock acquisition rights resulted in the actual issuance of 144,000 shares, showing an increase in the number of shares related to potential dilution. - FY2017-Q2RestatedAnnual report
「During the cumulative second quarter, there were no new business or other risks and no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
States that there have been no material changes in the risk disclosure regarding dilution of share value through the exercise of stock acquisition rights. - FY2017-Q1WorsenedAnnual report
「The total number of shares deliverable upon exercise of these stock acquisition rights is 346,000 shares of our common stock. If the number of shares granted in respect of these stock acquisition rights is adjusted under (3) I below, the total will be the adjusted number of shares granted multiplied by the number of stock acquisition rights. 3,460 stock acquisition rights were granted to 53 directors, audit & supervisory board members and employees.」
While the existing risk section stated that there had been no material changes, the subsequent event section reported a resolution to issue stock acquisition rights equivalent to 346,000 shares, increasing potential dilution exposure. - FY2016First statedAnnual report
「As of the date of submission of this document, the number of potential shares represented by these stock options was 1,227,000, equivalent to 18.4% of the total 6,657,300 shares issued.」
Shows, using the number and ratio of potential shares, the possibility of dilution of share value and voting rights upon the issuance of new shares when stock options are exercised.