Dilution of equity value resulting from the exercise of stock acquisition rights
First written in FY2021. 5 of 12 entries say "Mitigated", first in FY2022. Latest entry: 2026-10-01.
G-Next moved to the "Worse" side of this theme in 2024, 3 years after the typical company in this theme (2021).
The whole theme swung hardest in 2017: 28 of 54 companies on the "Worse" side.
52 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「The share acquisition rights have lapsed because the exercise period expired on 31 March 2026.」
The Series 7 share acquisition rights lapsed when their exercise period expired, eliminating the potential dilution exposure from the remaining 751,300 underlying shares. Meanwhile, 2,150 shares were issued during the fiscal year through the exercise of other share acquisition rights. - FY2025MaterialisedAnnual report
「26 December 2024 Common shares 300,000” 27 March 2025 Common shares 150,000” Class, details and number of shares underlying the share acquisition rights* Common shares: 751,300 shares」
The exercise of the Series 7 share acquisition rights resulted in the issuance of 450,000 shares in total, meaning that share issuance resulting in dilution actually occurred. Meanwhile, the number of shares underlying the Series 7 share acquisition rights at the end of the fiscal year was stated as 751,300. - FY2025-H1WorsenedAnnual report
「Class, details and number of shares underlying the share acquisition rights* Common shares: 1,201,300 shares” Exercise period of the share acquisition rights* From 14 August 2024 to 31 March 2026」
The company issued 12,013 Series 7 share acquisition rights to 舞花株式会社 through a third-party allotment and newly established 1,201,300 shares subject to potential future exercise. The potential dilution exposure has increased. - FY2024MaterialisedAnnual report
「29 March 2024 Common shares 2,000 Common shares 4,214,616 200 652,614 200 582,614 Increase due to the exercise of share acquisition rights.」
The exercise of share acquisition rights increased the number of shares by 2,000 as of 29 March 2024, bringing the total number of issued shares to 4,214,616. The filing additionally discloses an actual share issuance resulting in dilution. - FY2023MitigatedAnnual report
「As of the date of filing this document, potential shares of 227,800 represented 5.4% of the total number of issued shares (4,212,616 shares).」
The potential dilution ratio declined from 7.9% to 5.4%, reducing the dilution exposure. - FY2022MitigatedAnnual report
「As of the date of filing this document, potential shares of 330,650 represented 7.9% of the total number of issued shares (4,181,350 shares).」
The potential dilution ratio declined from the previously stated 8.8% to 7.9%. The filing also states that the number of issued shares increased as a result of the exercise of share acquisition rights. - FY2022-Q3MaterialisedAnnual report
「20 December 2021 (Note) 4,050 4,177,650 810 647,644 810 577,644 (Note) Increase due to the exercise of share acquisition rights.」
The filing states that the exercise of share acquisition rights increased the total number of issued shares by 4,050. - FY2021First statedAnnual report
「As of the date of filing this document, potential shares of 366,350 represented 8.8% of the total number of issued shares (4,165,600 shares).」
The filing states that the value of existing shareholders' shares and their voting rights may be diluted upon the exercise of share acquisition rights.