Worth reading
34Immaterial
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
4756000
SharesWording
Conditional
How definitive the wording is.Details of issuance or disposal
Secondary offering of shares (secondary offering through purchase underwriting by underwriters) and secondary offering through an over-allotment
発行・処分する株式数
Underwritten offering: 4,756,000 shares (breakdown: Nisshinbo Holdings Inc. 2,000,000 shares, TAIYO HOLDINGS CO.,LTD. 1,490,000 shares, and Daiwa Securities Co., Ltd. 1,266,000 shares). Over-allotment offering: up to 713,400 shares
Intended allottee
not disclosed (no specific allottee because this is an offering)
発行済株式総数
No increase as a result of the secondary offering
Terms of the stock acquisition rights
Exercise period
Not applicable (the exercise period for the greenshoe option runs from the settlement date through 28 September 2026)
Conditions on transfer restrictions
Restricted stock is stock awarded as compensation that cannot be sold during a specified period, with the restrictions lifted once the applicable conditions are met.
Transfer restriction period
Lock-up period for the selling shareholders and others: from the date on which the offering price and other terms are determined through the date falling 180 days after the settlement date of the underwritten offering.
Conditions for lifting transfer restrictions
Prior written consent from Daiwa Securities Co., Ltd. However, Daiwa Securities Co., Ltd. may, at its discretion, release some or all of the agreed restrictions during the lock-up period.
Offering structure
Underwriter / lead underwriter
Daiwa Securities Co., Ltd. (administrative lead manager and sole bookrunner), Nomura Securities Co., Ltd. (joint lead manager)
Overallotment
Up to 713,400 shares. No third-party allotment is stated.
Intended allottee's holding policy
Nisshinbo Holdings Inc., The Master Trust Bank of Japan, Ltd. (retirement benefit trust account, The Hyakujushi Bank, Ltd. account), and Kagawa Bank, Ltd. will be restricted from selling or otherwise disposing of their shares during the lock-up period. The period runs from the date on which the offering price and other terms are determined through the date falling 180 days after the settlement date. However, Daiwa Securities Co., Ltd. may release these restrictions with its prior consent and at its discretion.
Basis for determining the amount to be paid
The indicative price range will be 0.90 to 1.00 times the closing price for regular trading of the common shares on the Tokyo Stock Exchange on the date on which the offering price and other terms are determined, with the final price to be determined after taking demand and other factors into account.
| Item | Details |
|---|---|
| Type of issuance or disposal | Secondary offering of shares (secondary offering through purchase underwriting by underwriters) and secondary offering through an over-allotment |
| Number of shares to be issued or disposed of | Underwritten offering: 4,756,000 shares (breakdown: Nisshinbo Holdings Inc. 2,000,000 shares, TAIYO HOLDINGS CO.,LTD. 1,490,000 shares, and Daiwa Securities Co., Ltd. 1,266,000 shares). Over-allotment offering: up to 713,400 shares |
| Intended allottee | not disclosed (no specific allottee because this is an offering) |
| Intended allottee's holding policy | Nisshinbo Holdings Inc., The Master Trust Bank of Japan, Ltd. (retirement benefit trust account, The Hyakujushi Bank, Ltd. account), and Kagawa Bank, Ltd. will be restricted from selling or otherwise disposing of their shares during the lock-up period. The period runs from the date on which the offering price and other terms are determined through the date falling 180 days after the settlement date. However, Daiwa Securities Co., Ltd. may release these restrictions with its prior consent and at its discretion. |
| Total number of issued shares | No increase as a result of the secondary offering |
| Basis for determining the amount to be paid | The indicative price range will be 0.90 to 1.00 times the closing price for regular trading of the common shares on the Tokyo Stock Exchange on the date on which the offering price and other terms are determined, with the final price to be determined after taking demand and other factors into account. |
| Exercise period | Not applicable (the exercise period for the greenshoe option runs from the settlement date through 28 September 2026) |
| Transfer restriction period | Lock-up period for the selling shareholders and others: from the date on which the offering price and other terms are determined through the date falling 180 days after the settlement date of the underwritten offering. |
| Conditions for lifting transfer restrictions | Prior written consent from Daiwa Securities Co., Ltd. However, Daiwa Securities Co., Ltd. may, at its discretion, release some or all of the agreed restrictions during the lock-up period. |
| Underwriter / lead underwriter | Daiwa Securities Co., Ltd. (administrative lead manager and sole bookrunner), Nomura Securities Co., Ltd. (joint lead manager) |
| Overallotment | Up to 713,400 shares. No third-party allotment is stated. |
Items this document does not state (17)
Issue price and disposal priceTotal issue valueAmount of funds to be raisedEstimated issuance expensesSpecific use of fundsPayment dateDilution RateExercise priceNumber of Stock Acquisition RightsReason for acquisition without considerationCategories and Number of Persons CoveredTotal Stock-Based CompensationStock Split RatioProcedures under the Corporate Code of ConductMost recent equity financingMajor shareholders after the offeringImpact on Business Performance
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.In light of the trend toward reducing cross-shareholdings, the Company confirmed the intention of certain shareholders to sell their shares and aims to provide shareholders with a smooth opportunity to sell, while expanding and diversifying its shareholder base, particularly among individual investors, and improving share liquidity.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.