Strengthening the Financial Position through Capital Reduction, Reduction of the Legal Reserve and Disposition of Surplus
First written in FY2024-Q3. 1 of 2 entries say "Achieved", first in FY2024. Latest entry: FY2024.
127 other companies' latest entry also says "Achieved".
- FY2024AchievedAnnual report
「At the extraordinary general meeting of shareholders held on 27 February 2024, the reduction of capital and the legal reserve and the disposition of surplus were approved. The measures took effect on 29 February. As a result, capital decreased by ¥1,121 million and the legal reserve by ¥7 million, while other capital surplus increased by ¥257 million and retained earnings brought forward by ¥870 million.」
The reduction of capital and the legal reserve and the disposition of surplus were carried out on 29 February 2024, completing the plan to cover the deficit in retained earnings brought forward and strengthen the financial position. - FY2024-Q3First statedAnnual report
「This will be carried out to promote the Company's sustainable growth and the enhancement of corporate value over the medium to long term by covering the deficit in retained earnings brought forward, promptly strengthening its financial position, and ensuring flexibility and agility in its capital policy. Of the capital of ¥1,181,246,488, ¥1,121,246,488 will be reduced, leaving capital of ¥60,000,000. The effective date is scheduled for 29 February 2024.」
Based on a resolution of the Board of Directors dated 11 December 2023, the Company has described for the first time a plan to reduce capital and the legal reserve and transfer funds from other capital surplus to retained earnings brought forward to cover the deficit. It states that net assets and the total number of issued shares will not change.