Risk of Selling Pressure from Venture Capital Holdings
First written in FY2017. 2 of 3 entries say "Dropped", first in FY2018-Q2. Latest entry: FY2018-Q3.
The whole theme swung hardest in 2019: 2 of 13 companies on the "Worse" side.
16 other companies' latest entry also says "Dropped".
- FY2018-Q3DroppedAnnual report
「The Company had stated that VCs, etc. held a high proportion of its shares, at 71.2%, and that if the shares they owned were sold in the market, selling pressure on the Company’s shares could emerge and affect the market price. However, the Company confirmed that the proportion held by VCs, etc. was 14.8% as of the end of the second quarter of the fiscal year ended February 2018 and 0% as of the end of the third quarter. Accordingly, the section titled “(15) Shareholder Composition” in the securities report for the previous fiscal year no longer applies.」
It explicitly states that the proportion held by VCs, etc. was 0% as of the end of the third quarter and that the risk relating to shareholder composition no longer applies. - FY2018-Q2DroppedAnnual report
「The Company had stated that VCs, etc. held a high proportion of its shares, at 71.2%, and that if the shares they owned were sold in the market, selling pressure on the Company’s shares could emerge and affect the market price. However, the Company confirmed that the proportion held by VCs, etc. was 14.8% as of the end of the second quarter of the fiscal year ended February 2018. Accordingly, the section titled “(15) Shareholder Composition” in the securities report for the previous fiscal year no longer applies.」
It confirms that the proportion held by VCs, etc. had fallen to 14.8% and explicitly states that the shareholder composition risk described in the previous fiscal year no longer applies. - FY2017First statedAnnual report
「Of the 4,246,360 shares issued by the Company, a total of 3,022,820 shares are owned by venture capital firms and investment partnerships formed by venture capital firms (collectively, “VCs, etc.”). The proportion of the Company’s shares held by VCs, etc. relative to the total number of shares issued before the public offering was high, at 71.2%.」
It also states that VCs, etc. offered 559,200 shares for sale at the time of listing and identifies the possibility that market sales could affect the share price.