Worth reading
52Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
1.52
% (maximum dilution from the total stock acquisition rights granted to directors and employees)Wording
Definitive
How definitive the wording is.Details of issuance or disposal
Issuance of stock acquisition rights as stock options (Series 68 stock acquisition rights)
Who receives how much
9,000 stock acquisition rights, each exercisable for 25 common shares, for a maximum of 225,000 shares (portion allocated to directors)
5 of the Company’s directors, excluding directors who serve as Audit and Supervisory Committee members
The lower thin line represents the existing number of shares to which these shares will be added.
Fair value calculated using the Black-Scholes model on the allocation date (the specific amount per right has not been disclosed)
Amount of funds to be raised
Total amount payable: Not disclosed; estimated net proceeds: Not disclosed (offset against compensation receivables)
発行済株式総数
Maximum 1.52% for the total stock acquisition rights granted to directors and employees
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. No adjustment provisions are specified
Exercise period
Start Date 25 March 2029 / End date 24 March 2036
Number of Stock Acquisition Rights
Total issued: 9,000 rights. Number of unexercised rights: Not disclosed
Reason for acquisition without consideration
If a proposal concerning a merger, company split, share exchange, share transfer, conversion into a company with transfer restrictions or other similar transaction is approved at a shareholders meeting, or, where a shareholders meeting resolution is not required, if the Board of Directors adopts a resolution to that effect
Categories and Number of Persons Covered
5 of the Company’s directors, excluding directors who serve as Audit and Supervisory Committee members; 9,000 rights (25 shares per right)
Basis for determining the amount to be paid
Fair value calculated using the Black-Scholes model based on the Company’s closing share price on the Tokyo Stock Exchange on the allocation date, share price volatility, dividend yield, risk-free interest rate, exercise price and term to maturity, among other factors
Procedures under the Corporate Code of Conduct
Board of Directors resolution. No independent third-party opinion or shareholder approval procedure is described
| Item | Details |
|---|---|
| Type of issuance or disposal | Issuance of stock acquisition rights as stock options (Series 68 stock acquisition rights) |
| Number of shares to be issued or disposed of | 9,000 stock acquisition rights, each exercisable for 25 common shares, for a maximum of 225,000 shares (portion allocated to directors) |
| Issue price and disposal price | Fair value calculated using the Black-Scholes model on the allocation date (the specific amount per right has not been disclosed) |
| Amount of funds to be raised | Total amount payable: Not disclosed; estimated net proceeds: Not disclosed (offset against compensation receivables) |
| Intended allottee | 5 of the Company’s directors, excluding directors who serve as Audit and Supervisory Committee members |
| Dilution Rate | Maximum 1.52% for the total stock acquisition rights granted to directors and employees |
| Total number of issued shares | 72,203,710 shares → Not disclosed |
| Basis for determining the amount to be paid | Fair value calculated using the Black-Scholes model based on the Company’s closing share price on the Tokyo Stock Exchange on the allocation date, share price volatility, dividend yield, risk-free interest rate, exercise price and term to maturity, among other factors |
| Exercise price | ¥1 per share. No adjustment provisions are specified |
| Exercise period | Start Date 25 March 2029 / End date 24 March 2036 |
| Number of Stock Acquisition Rights | Total issued: 9,000 rights. Number of unexercised rights: Not disclosed |
| Reason for acquisition without consideration | If a proposal concerning a merger, company split, share exchange, share transfer, conversion into a company with transfer restrictions or other similar transaction is approved at a shareholders meeting, or, where a shareholders meeting resolution is not required, if the Board of Directors adopts a resolution to that effect |
| Categories and Number of Persons Covered | 5 of the Company’s directors, excluding directors who serve as Audit and Supervisory Committee members; 9,000 rights (25 shares per right) |
| Procedures under the Corporate Code of Conduct | Board of Directors resolution. No independent third-party opinion or shareholder approval procedure is described |
Items this document does not state (14)
Total issue valueEstimated issuance expensesSpecific use of fundsPayment dateIntended allottee's holding policyTransfer restriction periodConditions for lifting transfer restrictionsTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentStock Split RatioMost recent equity financingMajor shareholders after the offeringImpact on Business Performance
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 the directors’ motivation and morale to improve performance and to help enhance corporate value through a medium- to long-term incentive. Although the issuance will result in share dilution, the Company considers the scale to be within a reasonable range.
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.