Dilution of equity value through stock options
First written in FY2022. 8 of 10 entries say "Materialised", first in FY2023. Latest entry: 2026-10-22.
Japan Data Science Consortium moved to the "Worse" side of this theme in 2023, 3 years after the typical company in this theme (2020).
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
31 other companies' latest entry also says "Worsened".
- 2026-10-22WorsenedShare Issuance and Disposal
「当社従業員に対し、ストック・オプションとして下記のとおり新株予約権を発行するものであります。」
従業員8名に対して新株予約権895個、付与株式数合計89,500株の発行を決議しており、将来の株式価値希薄化につながり得る新株予約権の付与が追加された。 - FY2026MaterialisedAnnual report
「The group has adopted a stock option plan to provide incentives to directors, employees and others and plans to continue using it. A certain number of the currently granted stock acquisition rights are expected to be exercised in the short to medium term, and if new stock acquisition rights are granted and exercised in the future, the total number of issued shares will increase.」
During the current fiscal year, 161,700 shares under trust-type stock options and other instruments were exercised, increasing the number of issued shares. The company also explicitly notes the potential for dilution from the grant and exercise of new stock acquisition rights. - FY2026-H1MaterialisedAnnual report
「25 July 2025–24 October 2025 138,600 14,555,600 7,824 270,885 7,824 2,636,214／The increase resulted from the exercise of stock acquisition rights.／From 1 January 2026 through 31 January 2026, the exercise of stock acquisition rights increased total issued shares by 4,200 and both stated capital and capital surplus by ¥154 thousand.」
The exercise of stock acquisition rights resulted in the issuance of 138,600 shares from July to October 2025 and 4,200 shares in January 2026, and the increase in shares leading to dilution has continued. - FY2025-H1MaterialisedAnnual report
「In addition, the issuance of new shares accompanying the exercise of stock acquisition rights increased both stated capital and capital surplus by ¥1,233 thousand during the interim consolidated accounting period.」
The exercise of stock acquisition rights increased the number of shares by 33,600 during the interim consolidated accounting period, bringing issued shares to 13,806,600 as of 31 December 2024. Share issuance resulting in dilution has continued. - FY2024-Q2MaterialisedAnnual report
「1 October 2023–31 December 2023 44,100 13,323,400 1,619 11,619 1,619 2,195,439」The increase resulted from the exercise of stock acquisition rights.」
During the second quarter of the consolidated cumulative period, 44,100 shares were issued through the exercise of stock acquisition rights, resulting in an increase in shares that led to dilution. - FY2024-Q1MaterialisedAnnual report
「1 July 2023–30 September 2023 36,400 13,279,300 1,336 117,167 1,336 2,193,820」The increase resulted from the exercise of stock acquisition rights.」
During the quarter, 36,400 shares were issued through the exercise of stock acquisition rights, resulting in further share issuance and dilution. - FY2023MaterialisedAnnual report
「As of the end of the consolidated fiscal year under review, the number of potential shares represented by stock acquisition rights was 824,600, equivalent to 6.2% of the 13,242,900 issued shares.」
Stock acquisition rights for 431,200 shares were exercised, reducing potential shares from 1,264,900, or 9.9%, in the previous fiscal year to 824,600, or 6.2%. The risk of dilution for existing shareholders has partially materialized. - FY2022First statedAnnual report
「As of the date of submission of this document, the number of potential shares represented by stock acquisition rights was 1,264,900, equivalent to 9.9% of the 12,811,700 issued shares.」
The 1,264,900 potential shares represented by stock acquisition rights, equivalent to 9.9% of issued shares, are disclosed, with the risk of dilution of existing shareholders' value and voting rights upon future exercise identified.