Worth reading
66In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
800000
SharesWording
Definitive
How definitive the wording is.Details of issuance or disposal
Issuance of Series 23 stock acquisition rights as stock compensation-type stock options
発行・処分する株式数
800,000 common shares (8,000 stock acquisition rights, 100 shares per right)
Intended allottee
Name Neil Gibson / Category External collaborator / Number of stock acquisition rights 4,000 rights (underlying 400,000 shares), Name Michael Houston / Category External collaborator / Number of stock acquisition rights 4,000 rights (underlying 400,000 shares)
The payment amount per stock acquisition right will be the fair value calculated using the Black-Scholes model on the allotment date.
Amount of funds to be raised
The payment amount for the stock acquisition rights will be offset against remuneration claims. The payment upon exercise will be ¥1 per share × the number of shares granted. Total: Not disclosed
Existing Shares and Increase
+0.97%Rate of increase
82,100,758 shares82,900,758Shares
Maximum 0.97% (shares and voting rights)
The dilution rate shows what proportion the newly issued shares represent of the existing shares. The higher the proportion, the more the value and voting rights per share are diluted.
Terms of the stock acquisition rights
Exercise price
¥1 per share. Adjustment provisions: Not disclosed (as no fixed amount is specified).
Exercise period
From 14 August 2029 (end date: Not disclosed)
Number of Stock Acquisition Rights
Total issued: 8,000 rights. Unexercised balance: Not disclosed.
Reason for acquisition without consideration
If a holder of the stock acquisition rights dies before exercising the rights, or if a proposal concerning a corporate reorganisation or similar matter is approved, the company may acquire the rights without consideration.
Categories and Number of Persons Covered
2 external collaborators, 8,000 rights (4,000 rights each)
Intended allottee's holding policy
The company confirmed orally at a meeting that the holder intends to continue holding the company’s shares over the long term.
Payment date
4 November 2026
Basis for determining the amount to be paid
The payment amount for the stock acquisition rights will be the fair value calculated using the Black-Scholes model on the allotment date. The periods used for the reference closing price and average share price, and the discount and premium rates, are Not disclosed.
Procedures under the Corporate Code of Conduct
Because the dilution rate is below 25% and the transaction does not involve a change in the controlling shareholder, it is not necessary to obtain an opinion from an independent third party or conduct a procedure to ascertain shareholders’ opinions under the Corporate Code of Conduct.
Impact on Business Performance
The specific amount of the impact on performance is Not disclosed at this time. The disclosure states that the company aims to promote research and development and improve corporate value.
| Item | Details |
|---|---|
| Type of issuance or disposal | Issuance of Series 23 stock acquisition rights as stock compensation-type stock options |
| Number of shares to be issued or disposed of | 800,000 common shares (8,000 stock acquisition rights, 100 shares per right) |
| Issue price and disposal price | The payment amount per stock acquisition right will be the fair value calculated using the Black-Scholes model on the allotment date. |
| Amount of funds to be raised | The payment amount for the stock acquisition rights will be offset against remuneration claims. The payment upon exercise will be ¥1 per share × the number of shares granted. Total: Not disclosed |
| Payment date | 4 November 2026 |
| Intended allottee | Name Neil Gibson / Category External collaborator / Number of stock acquisition rights 4,000 rights (underlying 400,000 shares), Name Michael Houston / Category External collaborator / Number of stock acquisition rights 4,000 rights (underlying 400,000 shares) |
| Intended allottee's holding policy | The company confirmed orally at a meeting that the holder intends to continue holding the company’s shares over the long term. |
| Dilution Rate | Maximum 0.97% (shares and voting rights) |
| Total number of issued shares | 82,100,758 shares (as of 31 March 2026) → 82,900,758 shares (simple calculation assuming exercise of all stock acquisition rights)（0.97％） |
| Basis for determining the amount to be paid | The payment amount for the stock acquisition rights will be the fair value calculated using the Black-Scholes model on the allotment date. The periods used for the reference closing price and average share price, and the discount and premium rates, are Not disclosed. |
| Exercise price | ¥1 per share. Adjustment provisions: Not disclosed (as no fixed amount is specified). |
| Exercise period | From 14 August 2029 (end date: Not disclosed) |
| Number of Stock Acquisition Rights | Total issued: 8,000 rights. Unexercised balance: Not disclosed. |
| Reason for acquisition without consideration | If a holder of the stock acquisition rights dies before exercising the rights, or if a proposal concerning a corporate reorganisation or similar matter is approved, the company may acquire the rights without consideration. |
| Categories and Number of Persons Covered | 2 external collaborators, 8,000 rights (4,000 rights each) |
| Procedures under the Corporate Code of Conduct | Because the dilution rate is below 25% and the transaction does not involve a change in the controlling shareholder, it is not necessary to obtain an opinion from an independent third party or conduct a procedure to ascertain shareholders’ opinions under the Corporate Code of Conduct. |
| Impact on Business Performance | The specific amount of the impact on performance is Not disclosed at this time. The disclosure states that the company aims to promote research and development and improve corporate value. |
Items this document does not state (11)
Total issue valueEstimated issuance expensesSpecific use of fundsTransfer restriction periodConditions for lifting transfer restrictionsTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentStock Split RatioMost recent equity financingMajor shareholders after the offering
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To increase external collaborators’ incentive to support an increase in the share price, promote value sharing with shareholders, encourage ongoing support drawing on their specialised knowledge, experience and networks, and contribute to improving corporate value over the medium to long term.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.