Dilution of Share Value Through Stock Acquisition Rights
First written in FY2017. 5 of 18 entries say "Worsened", first in FY2018. Latest entry: FY2027-H1.
Tkp moved to the "Worse" side of this theme in 2024, 4 years after the typical company in this theme (2020).
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
5 other companies' latest entry also says "Other".
- FY2027-H1Increase in Issued Shares through Exercise of Share Acquisition RightsAnnual report
「The increase resulted from the exercise of share acquisition rights.」
During the current interim consolidated accounting period, the number of shares increased by 181,300 through the exercise of stock acquisition rights, bringing the number of issued shares to 42,700,085. Some potential shares were converted into common shares. - FY2025WorsenedAnnual report
「Eleventh Series Share Acquisition Rights (resolution of the Board of Directors meeting held on 12 December 2024) Category and number of eligible recipients (people): 154 company employees, 2 employees of a subsidiary Number of share acquisition rights (units): 195,000 Number of shares underlying the share acquisition rights (shares): 195,000」
The company newly granted 195,000 Eleventh Series Share Acquisition Rights, equivalent to a maximum of 195,000 shares, to 156 employees of the company and its subsidiaries, expanding dilution exposure. - FY2025-H1WorsenedAnnual report
「Name of share acquisition rights: Tenth Series Share Acquisition Rights Category and number of eligible recipients (people): Company employees 6 Number of share acquisition rights (units)*: 18,000 Class, details and number of shares underlying the share acquisition rights (shares)*: Common stock 18,000 Exercise period of the share acquisition rights*: 24 May 2026 to 23 May 2034」
The company issued 18,000 Tenth Series Share Acquisition Rights to 6 employees, newly indicating a maximum of 18,000 potential shares and an exercise period from 2026 to 2034. - FY2024Exercise of share acquisition rights and remaining potential sharesAnnual report
「1. Increase from the exercise of share acquisition rights: 58,100 shares」
During the fiscal year, the number of shares increased by 58,100 through the exercise of the Fourth Series Share Acquisition Rights and others. Meanwhile, as of the end of the fiscal year, rights equivalent to a total of 308,315 shares remained unexercised under the Fourth, Fifth and Ninth Series Share Acquisition Rights. - FY2024-Q1Increase in the number of shares issued through the exercise of share acquisition rightsAnnual report
「1 March 2023–31 May 2023 (Note 1) 31,500 42,311,485 13 16,334 13 16,289 (Note) 1. Increase resulting from the exercise of share acquisition rights.」
In the first quarter, the number of shares increased by 31,500 through the exercise of share acquisition rights, bringing the total number of shares issued to 42,311,485. - FY2023MitigatedAnnual report
「With respect to the Eighth Series Share Acquisition Rights with exercise price adjustment clauses issued through a third-party allotment on 4 February 2021, Daiwa Securities Co., Ltd., the allottee, acquired and cancelled all of the rights on 20 February 2023 pursuant to a resolution of the Board of Directors meeting held on 6 December 2022.」
All of the remaining Eighth Series Share Acquisition Rights, equivalent to 3,974,300 shares, were acquired and cancelled, reducing dilution exposure from share acquisition rights issued through a third-party allotment. - FY2023-Q3Increase in the number of shares issued from the exercise of share acquisition rightsAnnual report
「Change in total number of shares issued: 2,100 shares (Note 1) Increase resulting from the exercise of share acquisition rights.」
From September to November 2022, the number of shares increased by 2,100 through the exercise of share acquisition rights. As of the date of submission, the number of shares issued was 42,261,085. - FY2023-Q2WorsenedAnnual report
「Name of share acquisition rights: Ninth Series Share Acquisition Rights Number of share acquisition rights (units)*: 105,400 Class, details and number of shares underlying the share acquisition rights (shares)*: Common stock 105,400」
The Ninth Series Share Acquisition Rights were newly issued, adding 105,400 potential shares. The exercise period runs from 23 June 2024 to 22 June 2032, expanding future dilution exposure. - FY2022The number of shares issued increased following completion of the exercise of all Seventh Series Share Acquisition Rights.Annual report
「As of 29 September 2021, the exercise of all of the share acquisition rights issued had been completed.」
3,679,700 shares were delivered through the exercise of the Seventh Series Share Acquisition Rights, bringing the number of shares issued to 42,219,285. The Eighth Series Share Acquisition Rights, equivalent to 3,974,300 shares, remain outstanding. - FY2022-Q3The number of shares issued increased following additional exercises of share acquisition rights.Annual report
「Number of share acquisition rights with exercise price adjustment clauses and similar instruments exercised during the quarter (units): 7,024 Number of shares delivered upon exercise during the quarter (shares): 702,400 Funds raised through exercises during the quarter (¥ million): 1,146」
In the third quarter, 7,024 share acquisition rights were exercised and 702,400 shares were delivered. The cumulative number of shares delivered reached 3,974,300, further increasing the number of shares issued and dilution exposure. - FY2022-Q2The number of shares issued increased following additional exercises of share acquisition rights.Annual report
「Number of share acquisition rights with exercise price adjustment clauses and similar instruments exercised during the second quarter (units): 13,394 Number of shares delivered upon exercise during the quarter (shares): 1,339,400 Funds raised through exercises during the quarter (¥ million): 2,711」
In the second quarter, 13,394 share acquisition rights were exercised and 1,339,400 shares were delivered. The cumulative number of shares delivered reached 3,271,900. - FY2022-Q1The number of shares issued increased following the exercise of share acquisition rights.Annual report
「Number of share acquisition rights with exercise price adjustment clauses and similar instruments exercised during the quarter (units): 16,379 Number of shares delivered upon exercise during the quarter (shares): 1,637,900 Funds raised through exercises during the quarter (¥ million): 3,709」
In the first quarter, 16,379 of the Seventh Series and other Share Acquisition Rights were exercised, 1,637,900 shares were delivered, and ¥3,709 million was raised. Some of the potential shares were converted into common shares. - FY2021The number of potential shares decreased following the partial exercise of the Seventh Series Share Acquisition Rights.Annual report
「1. Increase from the exercise of the Seventh Series Share Acquisition Rights: 294,600 shares」
294,600 shares were issued following the partial exercise of the Seventh Series Share Acquisition Rights, leaving 3,679,700 shares subject to the remaining rights. - FY2021-Q3WorsenedAnnual report
「Potential shares represented by this issuance: 7,948,600 shares in total (100 shares of the company’s common stock per share acquisition right). There is no maximum exercise price.」
The resolutions to issue the Seventh and Eighth Series Share Acquisition Rights newly indicated a maximum of 7,948,600 potential shares. In addition to the dilution risk from existing stock options, a large number of potential shares from the share acquisition rights issued through a third-party allotment was added. - FY2020-Q3RestatedAnnual report
「Our group has adopted a stock option plan as an incentive for directors and employees. We are also considering continuing to use the stock option plan in the future. In addition to the currently outstanding share acquisition rights and similar instruments, if the share acquisition rights and similar instruments to be granted in the future are exercised, the value of the shares may be diluted.」
The risk of dilution in share value from the exercise of stock options has been reconfirmed. - FY2020-Q2RestatedAnnual report
「Our group has adopted a stock option plan as an incentive for directors and employees. We are also considering continuing to use the stock option plan in the future. In addition to the currently outstanding share acquisition rights and similar instruments, if the share acquisition rights and similar instruments to be granted in the future are exercised, the value of the shares may be diluted.」
The risk of dilution in share value from the exercise of stock options has been reconfirmed. - FY2018WorsenedAnnual report
「The company is also considering continuing to use the stock option plan in the future. In addition to the currently outstanding share acquisition rights and similar instruments, if the share acquisition rights and similar instruments to be granted in the future are exercised, the value of the shares may be diluted.」
The newly granted Fifth and Sixth Series Share Acquisition Rights increased the number of potential shares and expanded dilution exposure. - FY2017First statedAnnual report
「As of the date of submission of this document, the number of potential shares represented by the share acquisition rights was 128,500, equivalent to 2.72% of the total number of shares issued.」
The company has adopted a stock option plan as an incentive for directors and employees.