Dilution of Share Value from Stock Acquisition Rights and RSUs
First written in FY2019. 24 of 25 entries say "Materialised", first in FY2020-Q1. Latest entry: FY2026.
Mercari moved to the "Worse" side of this theme in 2019, 1 year before the typical company in this theme (2020).
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
69 other companies' latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「1 July 2025–30 June 2026 (Note) 2 Common shares 292,829」
During the fiscal year, 292,829 shares were added through the exercise of stock acquisition rights, and 379,599 shares were also delivered through RSUs. Share issuances causing dilution continued. - FY2026-H1MaterialisedAnnual report
「1 July 2025–31 December 2025 (Note) 1 Common shares 151,798 Common shares 164,700,322 1 July 2025–31 December 2025 (Note) 2 Common shares 188,800 Common shares 164,889,122」
During the six-month consolidated period, 151,798 shares were delivered through RSUs and 188,800 shares were issued through the exercise of stock acquisition rights, and share issuances causing dilution continued. - FY2025MaterialisedAnnual report
「1 July 2024–30 June 2025 Common shares 353,943」
During the fiscal year, 353,943 shares were added through the exercise of stock acquisition rights, and share issuances causing dilution continued to occur. - FY2025-H1MaterialisedAnnual report
「1 July 2024–31 December 2024 (Note) 3 Common shares 198,268 Common shares 164,228,182」
During the six-month consolidated period, 198,268 common shares were added through the exercise of stock acquisition rights and other transactions, resulting in actual share issuances causing dilution. - FY2024MaterialisedAnnual report
「1 July 2023–30 June 2024 Common shares 994,382」
During the fiscal year, 994,382 shares were added through RSUs and the exercise of stock acquisition rights, and share issuances causing dilution continued to occur in practice. - FY2024-Q3MaterialisedAnnual report
「Pursuant to a resolution of the Board of Directors dated 19 January 2024, new shares were issued on 15 February 2024 under the restricted stock unit (RSU) grant plan. This issuance increased the total number of issued shares by 108,207 and increased both stated capital and capital surplus by ¥128 million.」
In addition to the issuance of 108,207 new shares through RSUs, 391,481 shares were added through the exercise of stock acquisition rights, and share issuances causing dilution continued. - FY2024-Q2MaterialisedAnnual report
「Pursuant to a resolution of the Board of Directors dated 13 October 2023, new shares were issued on 15 November 2023 under the restricted stock unit (RSU) grant plan. This issuance increased the total number of issued shares by 112,712 and increased both stated capital and capital surplus by ¥187 million.」
A total of 112,712 new shares were issued under the RSU plan. In addition, 65,374 shares were added through the exercise of stock acquisition rights, and share issuances causing dilution continued. - FY2024-Q1MaterialisedAnnual report
「1 July 2023–30 September 2023 (Note) 2 Common shares 420,471 Common shares 162,989,723」
During the first quarter, 420,471 common shares were added through the exercise of stock acquisition rights, and 103,654 new shares were also issued through RSUs. Share issuances causing dilution continued to occur in practice. - FY2023MaterialisedAnnual report
「The total number of issued common shares increased by 1,270,112 through the exercise of stock acquisition rights.」
During the fiscal year, 1,270,112 shares were added through the exercise of stock acquisition rights, and share issuances causing dilution continued, including the issuance of new shares through RSUs. - FY2023-Q3MaterialisedAnnual report
「Pursuant to a resolution of the Board of Directors dated 20 January 2023, new shares were issued on 15 February 2023 under the restricted stock unit (RSU) grant plan. This issuance increased the total number of issued shares by 115,327 and increased both stated capital and capital surplus by ¥160 million.」
In addition to the issuance of 115,327 new shares through RSUs, 180,885 shares were added through the exercise of stock acquisition rights during the quarter, and share issuances causing dilution continued. - FY2023-Q2MaterialisedAnnual report
「1 October 2022–31 December 2022 (Note) 2 Common shares 315,163 Common shares 161,357,247」
During the second quarter, 315,163 shares were added through the exercise of stock acquisition rights, and 91,084 new shares were also issued through RSUs, so share issuances causing dilution continued. An increase of 34,510 shares had also been disclosed by the filing date. - FY2023-Q1MaterialisedAnnual report
「As stock options for employees and other personnel of the Group, the 51st through 55th series of stock acquisition rights were issued, and stock acquisition rights for a total of 279,756 common shares were granted.」
Potential shares underlying a total of 279,756 shares were added through the 51st through 55th series of stock acquisition rights, and issuances and grants causing dilution continued. - FY2022MaterialisedAnnual report
「The total number of issued common shares increased by 2,808,395 through the exercise of stock acquisition rights.」
The number of issued shares increased by 2,808,395 during the fiscal year through the exercise of stock acquisition rights and the issuance of new shares through RSUs. In addition, 5,349,882 potential shares may be issued in the future through convertible bonds with stock acquisition rights. - FY2022-Q3MaterialisedAnnual report
「1 January 2022–31 March 2022 (Note) 2 Common shares 471,418 Common shares 160,488,868」
During the cumulative third-quarter period, 471,418 common shares were added through the exercise of stock acquisition rights, resulting in actual share issuances causing dilution. - FY2022-Q2MaterialisedAnnual report
「This issuance of new shares increased the total number of issued shares by 56,590 and increased both stated capital and capital surplus by ¥184 million.」
In addition to the issuance of 56,590 new shares through RSUs, 258,932 shares were added through the exercise of stock acquisition rights, resulting in actual share issuances causing dilution. - FY2022-Q1MaterialisedAnnual report
「1 July 2021–30 September 2021 (Note) 2 Common shares 1,805,785 Common shares 159,652,853」
During the first quarter, 1,805,785 common shares were added through the exercise of stock acquisition rights and other transactions, resulting in actual share issuances causing dilution. - FY2021MaterialisedAnnual report
「The total number of issued common shares increased by 1,360,320 through the exercise of stock acquisition rights.」
During the fiscal year, the exercise of stock acquisition rights and the issuance of new shares through RSUs continued, increasing the number of issued shares by 1,360,320. By the filing date, the exercise of stock acquisition rights for 1,675,660 shares and the issuance of 39,724 RSU shares had also been disclosed, and share issuances causing dilution continued. - FY2021-Q3MaterialisedAnnual report
「1 January 2021–31 March 2021 (Note) 2 Common shares 520,100 Common shares 157,643,086」
During the third quarter, 520,100 shares were added through the exercise of stock acquisition rights. The grant of 84,141 shares through RSUs and the grant of the 42nd and 43rd series of stock acquisition rights were also disclosed, and the issuance of shares and increase in potential shares causing dilution continued. - FY2021-Q2MaterialisedAnnual report
「1 October 2020–31 December 2020 (Note) 2 Common shares 374,570 Common shares 157,038,845」
During the second quarter, 374,570 shares were added through the exercise of stock acquisition rights and other transactions, and 78,321 shares were also issued through RSUs. Share issuances causing dilution continued to occur in practice. - FY2021-Q1MaterialisedAnnual report
「Between 1 October 2020 and 31 October 2020, the total number of issued shares increased by 176,556 through the exercise of stock acquisition rights.」
After the end of the quarter, the number of shares increased by 176,556 through the exercise of stock acquisition rights, and share issuances causing dilution continued. - FY2020MaterialisedAnnual report
「At the end of the consolidated fiscal year, the number of potential shares relating to these stock acquisition rights and restricted stock units (RSUs) was 7,476,373, equivalent to 4.57% of the total of 163,626,737 issued shares and potential shares.」
The balance of potential shares was quantified at 4.57%, while 4,779,240 common shares were added during the fiscal year through the exercise of stock acquisition rights and other transactions, and share issuances causing dilution continued. - FY2020-Q3MaterialisedAnnual report
「Pursuant to a resolution of the Board of Directors dated 17 January 2020, new shares were issued on 15 February 2020 under the restricted stock unit (RSU) grant plan. This issuance increased the total number of issued shares by 60,114 and increased both stated capital and capital surplus by ¥63 million. The increase was due to the exercise of stock acquisition rights.」
During the third quarter, 60,114 shares were issued through RSUs, in addition to an increase of 1,790,110 shares through the exercise of stock acquisition rights, resulting in actual share issuances causing dilution. - FY2020-Q2MaterialisedAnnual report
「On 15 November 2019, new shares were issued under the restricted stock unit (RSU) grant plan. This issuance increased the total number of issued shares by 91,228 and increased both stated capital and capital surplus by ¥119 million.」
In addition to the issuance of 91,228 new shares through RSUs, 919,860 shares were added through the exercise of stock acquisition rights during the second quarter, resulting in actual share issuances causing dilution. - FY2020-Q1MaterialisedAnnual report
「1 July 2019–30 September 2019」
During the quarter, in addition to the issuance of 401,586 new shares under the RSU grant plan, the number of shares increased by 1,799,250 through the exercise of stock acquisition rights, and the number of issued shares rose. Actual share issuances giving rise to the risk of dilution through stock acquisition rights and RSUs occurred. - FY2019First statedAnnual report
「At the end of the consolidated fiscal year, the number of potential shares relating to these stock acquisition rights and restricted stock units (RSUs) was 13,325,377, equivalent to 8.1% of the total of 164,080,724 issued shares and potential shares.」
For the first time, the risk that the exercise and issuance of stock acquisition rights and RSUs for officers and employees would dilute existing shareholders’ equity value and voting rights was quantified at 13,325,377 potential shares, or 8.1% of the total.