Dilution of Shareholder Value Through the Exercise of Stock Options
First written in FY2017. 18 of 24 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
18 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「① [Terms of the stock-option program] Not applicable. ② [Status of other share acquisition rights] Not applicable.」
The company continues to report that there are no applicable matters concerning stock options or other stock acquisition rights. - FY2024RestatedAnnual report
「1. [Terms of the Stock Option Plan] There are no applicable matters. 2. [Terms of the Rights Plan] There are no applicable matters. 3. [Status of Other Stock Acquisition Rights, etc.] There are no applicable matters.」
The company continues to report that there are no applicable matters concerning stock options, the rights plan or other stock acquisition rights. - FY2024-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
The company states that there has been no new occurrence or material change concerning dilution of equity value through the exercise of stock options. - FY2024-Q2RestatedAnnual report
「① [Details of the stock option plan] Not applicable. ② [Status of other stock acquisition rights, etc.] Not applicable.」
The company continues to report that there are no applicable matters concerning stock options or other stock acquisition rights. - FY2024-Q1RestatedAnnual report
「① [Terms of the stock-option program] Not applicable. ② [Status of other share acquisition rights] Not applicable.」
The company continues to report that there are no applicable matters concerning stock options or other stock acquisition rights. - FY2023RestatedAnnual report
「1. [Terms of the Stock Option Plan] There are no applicable matters. 2. [Terms of the Rights Plan] There are no applicable matters. 3. [Status of Other Stock Acquisition Rights, etc.] There are no applicable matters.」
The company continues to report that there are no applicable matters concerning stock options, the rights plan or other stock acquisition rights. - FY2023-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
The company states that there has been no new occurrence or material change concerning dilution of equity value through the exercise of stock options. - FY2023-Q2RestatedAnnual report
「① [Details of the stock option plan] Not applicable. ② [Status of other stock acquisition rights, etc.] Not applicable.」
The company states that there were no applicable matters concerning stock options or other stock acquisition rights. - FY2022-Q3RestatedAnnual report
「① [Terms of the stock-option program] Not applicable. ② [Status of other share acquisition rights] Not applicable.」
States that there are no stock option plans or other subscription rights. - FY2022-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
The company states that there has been no new occurrence or material change concerning dilution of equity value through the exercise of stock options. - FY2022-Q1RestatedAnnual report
「① [Terms of the stock-option program] Not applicable. ② [Status of other share acquisition rights] Not applicable.」
The company states that there were no applicable matters concerning stock options or other stock acquisition rights. - FY2021RestatedAnnual report
「① [Terms of the stock-option program] Not applicable. ② [Status of other share acquisition rights] Not applicable.」
The company states that there were no applicable matters concerning stock options or other stock acquisition rights. - FY2021-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
The company states that there has been no new occurrence or material change concerning dilution of equity value through the exercise of stock options. - FY2021-Q2RestatedAnnual report
「① [Terms of the stock-option program] Not applicable. ② [Status of other share acquisition rights] Not applicable.」
The company states that there were no applicable matters concerning the stock option plan, the plan's terms, or other stock acquisition rights. - FY2021-Q1RestatedAnnual report
「① [Terms of the stock-option program] Not applicable. ② [Status of other share acquisition rights] Not applicable.」
The company states that there were no applicable matters concerning the stock option plan, the plan's terms, or other stock acquisition rights. - FY2020RestatedAnnual report
「① Contents of the stock option plan: Not applicable.」
The company states that there were no applicable matters concerning the stock option plan and does not describe any new dilution factors from unexercised stock acquisition rights. - FY2020-Q3RestatedAnnual report
「① Contents of the stock option plan: Not applicable.」
The company states that there were no applicable matters concerning the stock option plan and does not describe any new dilution factors from unexercised stock acquisition rights. - FY2020-Q2RestatedAnnual report
「① Contents of the stock option plan: Not applicable.」
The company states that there were no applicable matters concerning the stock option plan and does not describe any new dilution factors from unexercised stock acquisition rights. - FY2020-Q1MitigatedAnnual report
「① Contents of the stock option plan: Not applicable.」
The first-quarter report states that there were no applicable matters concerning the stock option plan, and does not describe any new dilution exposure from unexercised stock acquisition rights. - FY2019MitigatedAnnual report
「Exercised 680 Unexercised balance –」
All 680 stock acquisition rights outstanding during the fiscal year were exercised, leaving no unexercised balance. Although dilution actually occurred, future dilution exposure relating to the unexercised portion has been reduced. - FY2019-Q1MaterialisedAnnual report
「From 1 October 2018 to the date of submission of the quarterly report, the total number of shares issued increased by 680 through the exercise of stock acquisition rights, while stated capital and the capital surplus each increased by ¥100 thousand.」
After the end of the quarter, the number of shares, stated capital and capital surplus continued to increase through the exercise of stock acquisition rights, an event that may result in dilution of equity value. - FY2018-Q3MaterialisedAnnual report
「1 January 2018–31 March 2018 (Note) 5,240 1,536,280 773 232,532 773 176,192 (Note) Increase due to the exercise of stock acquisition rights.」
During the third quarter accounting period, the number of shares increased by 5,240 through the exercise of stock acquisition rights, while stated capital and the capital surplus each increased by ¥773 thousand. The increase in shares through stock option exercises continues to occur in practice. - FY2018-Q2MaterialisedAnnual report
「The increase resulted from the exercise of stock acquisition rights.」
During the second quarter accounting period, the number of shares increased by 147,840 through the exercise of stock acquisition rights, while stated capital and the capital surplus each increased by ¥21,806 thousand. The dilution risk from the exercise of existing stock options has materialized through actual share issuance. - FY2017First statedAnnual report
「As of the end of June 2017, there were 154,440 stock options, equivalent to approximately 11% of the total number of shares issued.」
The company identifies the possibility of issuing new shares upon exercise of stock acquisition rights granted to officers and employees as a dilution risk.