Improving the Free-Float Ratio and Capital Efficiency through a Public Tender Offer and Cancellation of Treasury Shares
First written in FY2022-Q3. 3 of 6 entries say "Advanced", first in FY2022. Latest entry: FY2023.
11 other companies' latest entry also says "Restated".
- FY2023RestatedAnnual report
「Pursuant to the tender offer for treasury shares resolved at a meeting of the Board of Directors held on 10 February 2022, the Company acquired 1,250,000 shares on 6 April 2022. Subsequently, at a meeting of the Board of Directors held on 9 August 2022, the Company resolved, pursuant to Article 178 of the Companies Act, to cancel treasury shares and cancelled 1,322,324 treasury shares on 20 September 2022.」
The acquisition of treasury shares through a tender offer and the subsequent cancellation of 1,322,324 shares continue to be disclosed as completed capital policy measures. - FY2023-Q3RestatedAnnual report
「Pursuant to the tender offer for treasury shares resolved at a meeting of the Board of Directors held on 10 February 2022, the Company acquired 1,250,000 shares on 6 April 2022. Subsequently, at a meeting of the Board of Directors held on 9 August 2022, the Company resolved, pursuant to Article 178 of the Companies Act, to cancel treasury shares and cancelled 1,322,324 treasury shares on 20 September 2022.」
The acquisition of treasury shares through a tender offer and the subsequent cancellation of 1,322,324 shares continue to be disclosed as completed capital policy measures. - FY2023-Q2AdvancedAnnual report
「Subsequently, at a meeting of the Board of Directors held on 9 August 2022, the Company resolved, pursuant to Article 178 of the Companies Act, to cancel treasury shares and cancelled 1,322,324 treasury shares on 20 September 2022. As a result, the total number of issued shares decreased by 1,322,324, leaving 0 treasury shares as of the end of the second quarter accounting period.」
The Company cancelled all 1,322,324 treasury shares held after the tender offer and implemented measures to improve the free-float ratio and capital efficiency. - FY2023-Q1AdvancedAnnual report
「At a meeting of the Board of Directors held on 9 August 2022, the Company resolved to cancel treasury shares pursuant to Article 178 of the Companies Act.」
The Company resolved to cancel all 1,322,324 treasury shares held after the tender offer, to increase the free-float ratio and meet the Standard Market's continued-listing criteria. - FY2022AdvancedAnnual report
「At a meeting of the Board of Directors held on 10 February 2022, the Company resolved to acquire treasury shares pursuant to Article 165, paragraph 3 of the Companies Act, under which Article 156, paragraph 1 applies mutatis mutandis, and the Company's Articles of Incorporation, and carried out the acquisition. ② Total number of shares acquired 1,250,000 shares ③ Total acquisition cost ¥677,500,000 ④ Method of acquisition Tender offer」
The Company conducted the planned tender offer for treasury shares and acquired 1,250,000 shares for ¥677,500,000 on 6 April 2022. The document states that the number of treasury shares held after the acquisition was 1,322,324, with cancellation remaining scheduled for a later date. - FY2022-Q3First statedAnnual report
「In considering measures to maintain the listing, the Company concluded that acquiring treasury shares and subsequently cancelling them would improve the free-float ratio without impairing the liquidity of its common shares, contribute to improved capital efficiency, including earnings per share (EPS) and return on equity (ROE), and lead to the return of profits to shareholders. It would also increase free-float market capitalization through an increase in the market price of the Company's common shares. The treasury shares acquired through the tender offer are scheduled to be cancelled by the end of September 2022 after the tender offer ends. (1) Class of shares to be acquired: Common shares of the Company (2) Total number of shares to be acquired: 1,375,100 shares (maximum) (3) Total acquisition cost: ¥745,304 thousand (maximum) (4) Acquisition period: 14 February 2022 to 6 April 2022 (2) Tender offer price: ¥542 per common share (3) Tender offer period: 14 February 2022 to 14 March 2022」
The Company resolved to conduct a tender offer for up to 1,375,100 treasury shares, with total acquisition costs capped at ¥745,304 thousand, and to cancel the shares by the end of September 2022. The objectives were to improve the free-float ratio, capital efficiency including EPS and ROE, and shareholder returns.