Dilution of Per-Share Value Due to Stock Option Exercise
First written in FY2020. 4 of 10 entries say "Mitigated", first in FY2021. Latest entry: FY2026.
The whole theme swung hardest in 2017: 39 of 70 companies on the "Worse" side.
- FY2026WorsenedAnnual report
「As of the date of filing this document, the number of potential shares attributable to stock acquisition rights was 2,594,500, equivalent to 16.0% of the 16,245,228 issued shares.」
The percentage of potential shares increased from 10.9% in the previous fiscal year to 16.0%. In addition to the 12th and 13th stock acquisition rights, dilution exposure remains from the 11th stock acquisition rights and convertible bond-type bonds with stock acquisition rights. - FY2026-H1WorsenedAnnual report
「12th Stock Acquisition Rights Common shares 544,800 13th Stock Acquisition Rights Common shares 538,700」
The 12th and 13th stock acquisition rights issued on 15 July 2025 added a total of 1,083,500 potential shares. Including potential shares from existing convertible bond-type bonds with stock acquisition rights, potential dilution exposure has increased. - FY2025MitigatedAnnual report
「As of the date of filing this document, the number of potential shares attributable to stock acquisition rights was 1,783,525, equivalent to 10.9% of the 16,245,228 issued shares.」
The percentage of potential shares declined from 13.2% in the previous fiscal year to 10.9%, reducing dilution exposure. - FY2025-H1RestatedAnnual report
「Increase in common shares (shares) 1,168,136 (of which stock acquisition rights (shares) 18,711) (of which convertible bond-type bonds with stock acquisition rights (shares) 1,149,425)」
For purposes of calculating diluted interim net income per share, the Company states an increase of 1,168,136 common shares attributable to stock acquisition rights and convertible bond-type bonds with stock acquisition rights. - FY2024WorsenedAnnual report
「As of the date of filing this document, the number of potential shares attributable to stock acquisition rights was 2,152,900, equivalent to 13.2% of the 16,245,228 issued shares.」
The percentage of potential shares increased to 13.2% due to the third-party allotment to Marui Group and the issuance of stock acquisition rights and convertible bond-type bonds with stock acquisition rights related to Growth Partners. - FY2024-Q3WorsenedAnnual report
「Number of potential shares from this issuance: 364,900 shares」
The plan called for an additional 364,900 potential shares from stock acquisition rights issued through a third-party allotment and up to 1,149,400 potential shares from unsecured convertible bond-type bonds with stock acquisition rights, increasing future dilution exposure. - FY2023MitigatedAnnual report
「As of the date of filing this document, the number of potential shares attributable to stock acquisition rights was 787,100, equivalent to 4.9% of the 15,836,503 issued shares.」
The percentage of potential shares declined from the previous 6.4% to 4.9%, reducing the dilution exposure from the exercise of stock options. - FY2022MitigatedAnnual report
「As of the date of filing this document, the number of potential shares attributable to stock acquisition rights was 1,007,300, equivalent to 6.4% of the 15,745,144 issued shares.」
The percentage of potential shares attributable to stock options declined from the previous 7.17% to 6.4%. - FY2021MitigatedAnnual report
「As of the date of filing this document, the number of potential shares attributable to stock acquisition rights was 1,123,300, equivalent to 7.17% of the 15,658,100 issued shares.」
The percentage of potential shares attributable to stock options declined from the previously stated 8.14% to 7.17%. - FY2020First statedAnnual report
「As of the date of filing this document, the number of potential shares attributable to stock acquisition rights was 1,262,500, equivalent to 8.14% of the 15,505,100 issued shares.」
In addition to existing stock acquisition rights, the Company is considering granting further rights and discloses the potential for dilution upon exercise.