Greater Flexibility in Capital Policy Through Reduction of Capital Reserve and Deficit Coverage
First written in FY2022. 1 of 2 entries say "Achieved", first in FY2023-Q2. Latest entry: FY2023-Q2.
127 other companies' latest entry also says "Achieved".
- FY2023-Q2AchievedAnnual report
「At the annual general meeting of shareholders held on 28 June 2022, we resolved to reduce the capital reserve and dispose of surplus, and the reduction took effect on 8 July 2022. As a result, during the cumulative second quarter of the current consolidated fiscal year, the capital reserve decreased by ¥1,735 million, and the entire amount of the decrease was transferred to other capital surplus. In addition, subject to the effectiveness of the capital reserve reduction, we eliminated accumulated losses by transferring ¥635 million of other capital surplus to retained earnings.」
The ¥1,735 million reduction in the capital reserve and the elimination of accumulated losses using ¥635 million of other capital surplus were completed on 8 July 2022, moving from the previous period’s planning stage to completion. - FY2022First statedAnnual report
「We will reduce the capital reserve and dispose of surplus in order to eliminate the deficit in retained earnings currently arising and secure flexibility and agility in our future capital policy.」
The filing sets out a plan to reduce the capital reserve by ¥1,735,508,521 and allocate ¥635,508,521 to eliminate accumulated losses, subject to approval at a shareholders’ meeting after the filing.