Performance condition to increase net sales to ¥10 billion in the fiscal year ending November 2020
First written in FY2017. 2 of 5 entries say "Raised", first in FY2022. Latest entry: FY2025.
No other company in this theme has enough history to compare yet.
- FY2025RestatedAnnual report
「Depending on the amount of SaaS ARR in November 2028, the options may be exercised up to one of the following percentages. ①If SaaS ARR is at least ¥88 billion, 100% of the above stock acquisition rights」
The performance conditions for the 13th series of stock acquisition rights, using revenue, SaaS ARR, EBITDA, and adjusted operating cash flow margin, remain in place. - FY2024RaisedAnnual report
「Depending on the amount of revenue in the consolidated income statement for the period from December 2027 through November 2028, the options may be exercised up to one of the following percentages. ①If revenue is at least ¥110 billion, 100% of the above stock acquisition rights」
For the 13th series of stock acquisition rights, conditions were established based on the fiscal year ending November 2028, including revenue of ¥110 billion, SaaS ARR of ¥88 billion, EBITDA of ¥35 billion, and an adjusted operating cash flow margin of at least 25%, expanding the time horizon and range of metrics from the previous conditions. - FY2023-Q1RestatedAnnual report
「However, if EBITDA (operating income + amortization and depreciation + taxes included in operating expenses + share-based compensation expense) does not turn positive in the fiscal year ending November 2024, none of the options may be exercised.」
For the stock acquisition rights, the performance-linked condition requiring positive EBITDA in the fiscal year ending November 2024 as an exercise condition remains in place. - FY2022RaisedAnnual report
「If EBITDA (operating income + amortization and depreciation + taxes included in operating expenses + share-based compensation expense) does not turn positive in the fiscal year ending November 2024, none of the options may be exercised.」
For the new paid stock acquisition rights, the exercise conditions included staged annual average revenue growth rates of 30% and 35% from the fiscal year ending November 2021 through the fiscal year ending November 2024, as well as achieving positive EBITDA in the fiscal year ending November 2024. - FY2017First statedAnnual report
「If revenue for the fiscal year ending November 2018 is at least ¥4,350 million, 33% may be exercised; if revenue for the fiscal year ending November 2019 is at least ¥6,500 million, 33% may be exercised; and if revenue for the fiscal year ending November 2020 is at least ¥10,000 million, 34% may be exercised.」
As exercise conditions for the paid stock options, staged revenue thresholds were first specified: ¥4,350 million for the fiscal year ending November 2018, ¥6,500 million for the fiscal year ending November 2019, and ¥10,000 million for the fiscal year ending November 2020.