Early Repurchase and Cancellation of Convertible Bonds with Stock Acquisition Rights
First written in FY2023-Q2. 1 of 2 entries say "Achieved", first in FY2023. Latest entry: FY2023.
7 other companies' latest entry also says "Achieved".
- FY2023AchievedAnnual report
「The main uses of funds were ¥255.243 million for repayment of long-term borrowings, ¥2,028 million for redemption of bonds with stock acquisition rights, and ¥142.365 million for dividend payments.」
The company states that it redeemed ¥2,028 million of the bonds with stock acquisition rights issued to fund M&A during the current consolidated fiscal year, eliminating the balance from the financial statements. - FY2023-Q2First statedAnnual report
「Based on a resolution adopted at a meeting of the Board of Directors held on 5 April 2023, the company purchased and cancelled on 21 April 2023 the entire outstanding balance of the First Series Unsecured Convertible Bonds with Stock Acquisition Rights (subject to a limited pari passu clause among convertible bonds with stock acquisition rights) issued on 4 August 2021. The details are as follows: 1. Reason for purchase and cancellation: mitigating dilution through early purchase and enhancing shareholder value over the medium to long term; 2. Purchase price: ¥101.4 per ¥100 face value of each bond; 3. Amount purchased and cancelled: ¥2,000 million; 4. Redemption funds: redemption from deposits」
The company states that it purchased and cancelled on 21 April 2023 the ¥2,000 million outstanding balance of the convertible bonds with stock acquisition rights, in order to mitigate dilution and enhance shareholder value over the medium to long term.