Dilution Through Issuance of New Shares and Exercise of Stock Acquisition Rights
First written in FY2017. 25 of 34 entries say "Materialised", first in FY2018-Q1. Latest entry: FY2027-H1.
SanBio moved to the "Worse" side of this theme in 2017, 4 years before the typical company in this theme (2021).
The whole theme swung hardest in 2017: 17 of 34 companies on the "Worse" side.
44 other companies' latest entry also says "Materialised".
- FY2027-H1MaterialisedAnnual report
「1 March 2026–30 April 2026 (Note) 1 25,552 78,058,883 26,350 8,401,781 26,350 8,399,281 (Note) 1. Increase resulting from the exercise of stock acquisition rights.」
The issuance of 25,552 shares through the exercise of stock acquisition rights increased the total number of issued shares. Dilution from new share issuance continued to materialize. - 2026-06-15MaterialisedEarnings
「Capital stock and capital reserves each increased by ¥26.350 million as a result of the exercise of share acquisition rights issued as stock options.」
The issuance of shares and increases in capital stock and capital reserves resulting from the exercise of share acquisition rights occurred during the quarter as well. - FY2026MaterialisedAnnual report
「The increase of 7,106,129 in the total number of issued shares during the current consolidated fiscal year comprised an increase of 17,989 through the exercise of stock acquisition rights, an increase of 1,088,140 through the issuance of new shares by third-party allotment, and an increase of 6,000,000 through the issuance of new shares in an overseas offering.」
The total number of issued shares increased by 7,106,129 through a third-party allotment, an overseas offering and the exercise of stock acquisition rights. In addition, up to 2,113,502 shares could be issued through the exercise of convertible bonds with stock acquisition rights, leaving dilution exposure. - 2026-03-17WorsenedRevision of earnings forecasts
「This was because capital stock and capital surplus each increased by ¥7,652 million as a result of issuing new shares through a third-party allotment, issuing new shares through an international offering and exercising share acquisition rights.」
Share issuance through a third-party allotment, an international offering and the exercise of share acquisition rights progressed, increasing the number of shares issued at fiscal year-end from 70,927,202 in the previous fiscal year to 78,033,331. - FY2026-H1MaterialisedAnnual report
「1 June 2025–31 July 2025 (Note) 3 12,589 72,027,931 12,375 1,235,760 12,375 1,233,260」
The exercise of stock acquisition rights resulted in the issuance of 12,589 shares during the interim period, bringing the total number of issued shares to 72,027,931. Dilution from new share issuance continued to materialize. - FY2025WorsenedAnnual report
「At a meeting of the Board of Directors held on 14 February 2025, the Company resolved to issue new shares through a third-party allotment and Series 1 unsecured convertible bonds with stock acquisition rights. Accordingly, 1,088 thousand new shares were issued on the payment date of 3 March 2025 through the third-party allotment. In addition, the issuance of Series 1 unsecured convertible bonds with stock acquisition rights could result in the issuance of up to 2,113 thousand additional new shares if the stock acquisition rights attached to the convertible bonds are exercised in the future, potentially diluting the Company's per-share value.」
The issuance of 1,088 thousand new shares in March 2025 was completed, and dilution exposure increased because the convertible bonds with stock acquisition rights could result in the issuance of up to 2,113 thousand additional new shares. - FY2025-H1MaterialisedAnnual report
「Number of such instruments exercised during the interim accounting period (units) 7,000 Shares delivered upon exercise during the interim accounting period (shares) 700,000 Funds raised through exercise during the interim accounting period (thousand yen) 485,800 Cumulative number of such instruments exercised as of the end of the interim accounting period (units) 90,000 Cumulative shares delivered under such instruments as of the end of the interim accounting period (shares) 9,000,000」
Regarding Series 34 stock acquisition rights, 700,000 shares were delivered during the interim period, bringing cumulative shares delivered to 9,000,000. Dilution from new share issuance continued to materialize. - FY2025-Q1MaterialisedAnnual report
「During the first quarter accounting period, stock acquisition rights attached to bonds with stock acquisition rights subject to exercise-price adjustment clauses and other instruments were exercised as follows: / Number of such instruments exercised during the quarter (units): 7,000 / Shares delivered upon exercise during the quarter (shares): 700,000」
The exercise of stock acquisition rights resulted in 700,000 shares being delivered during the quarter, and dilution materialized. Cumulative shares delivered reached 9,000,000. - FY2024MaterialisedAnnual report
「All exercises of the 34th Series Stock Acquisition Rights issued by the Company had been completed as of 26 February 2024. A total of 9,000,000 new shares were issued and ¥6,436 million was raised.」
The exercise of Series 34 stock acquisition rights completed the issuance of a total of 9 million new shares, and dilution materialized. - FY2024-Q3MaterialisedAnnual report
「Number of such instruments exercised during the quarter (units): 5,500 / Shares delivered upon exercise during the quarter (shares): 550,000 / Cumulative number of such instruments exercised as of the end of the quarter (units): 59,000 / Cumulative shares delivered under such instruments as of the end of the quarter (shares): 5,900,000」
The exercise of Series 34 stock acquisition rights resulted in 550,000 shares being delivered during the quarter and 5,900,000 cumulatively, with dilution from new share issuance continuing to materialize. - FY2024-Q2MaterialisedAnnual report
「Number of such instruments exercised during the quarter (units): 1,100 / Shares delivered upon exercise during the quarter (shares): 110,000 / Cumulative number of such instruments exercised as of the end of the quarter (units): 53,500 / Cumulative shares delivered under such instruments as of the end of the quarter (shares): 5,350,000」
The exercise of Series 34 stock acquisition rights resulted in 110,000 shares being delivered during the quarter and 5,350,000 cumulatively, with dilution from new share issuance continuing to materialize. - FY2024-Q1MaterialisedAnnual report
「Number of such instruments exercised during the quarter (units): 7,700 / Shares delivered upon exercise during the quarter (shares): 770,000 / Cumulative number of such instruments exercised as of the end of the quarter (units): 52,400 / Cumulative shares delivered under such instruments as of the end of the quarter (shares): 5,240,000」
The exercise of Series 34 stock acquisition rights resulted in 770,000 shares being delivered during the quarter and 5,240,000 cumulatively, with dilution from new share issuance materializing. - FY2023MaterialisedAnnual report
「1 February 2022–31 January 2023 (Note) 1 12,282,800 64,076,202 5,552,002 6,407,189 5,552,002 6,404,689」
The total number of issued shares increased by 12,282,800 during the current consolidated fiscal year through the exercise of stock acquisition rights, while both share capital and capital surplus increased by ¥5,552 million. All Series 32 stock acquisition rights were exercised, and 4,470,000 shares were also delivered through the exercise of Series 34 stock acquisition rights. - FY2023-Q3MaterialisedAnnual report
「Potential shares resulting from this issuance: 9,000,000 shares (100 shares per stock acquisition right) / Number of stock acquisition rights exercised: 19,000 units (21.11% of the total issued) / Shares delivered: 1,900,000 shares」
The issuance of Series 34 stock acquisition rights added 9,000,000 potential shares. By the filing date, 19,000 units had been exercised and 1,900,000 shares had been delivered. New share issuance and dilution are materializing. - FY2023-Q2MaterialisedAnnual report
「Number of such instruments exercised during the quarter (units): 47,000 / Shares delivered upon exercise during the quarter (shares): 4,700,000 / Cumulative number of such instruments exercised as of the end of the quarter (units): 75,000 / Cumulative shares delivered under such instruments as of the end of the quarter (shares): 7,500,000」
The exercise of Series 32 stock acquisition rights resulted in 4.7 million shares being delivered during the quarter and 7.5 million cumulatively, bringing the total number of issued shares to 59,604,902. Dilution from new share issuance is materializing. - FY2023-Q1MaterialisedAnnual report
「1 February 2022–30 April 2022 (Note) 1 2,910,000 54,703,402 1,646,605 5,721,741 1,646,605 5,719,241 (Note) 1. Increase resulting from the exercise of stock acquisition rights.」
The number of issued shares increased by 2.91 million during the quarter through the exercise of stock acquisition rights, while both share capital and capital surplus increased by ¥1,646.60 million. Dilution through the exercise of Series 32 stock acquisition rights is materializing. - FY2022WorsenedAnnual report
「Potential shares resulting from this issuance: Potential shares: 7,500,000 shares (100 shares per stock acquisition right)」
The issuance of Series 32 stock acquisition rights created 7,500,000 potential shares, equivalent to 14.5% of the total number of issued shares at the end of January 2022, adding dilution exposure. A further 1,350,000 shares were delivered by the end of March 2022. - FY2022-Q3MaterialisedAnnual report
「1 August 2021–31 October 2021 (Note) 6,329 51,793,402 952 4,075,135 952 4,072,635 (Note) Increase resulting from the exercise of stock acquisition rights.」
The total number of issued shares increased by 6,329 during the third quarter accounting period through the exercise of stock acquisition rights, and dilution from new share issuance continued to materialize. - FY2022-Q2WorsenedAnnual report
「Series 27 stock acquisition rights Number of stock acquisition rights (units)* 12,000 / Series 28 stock acquisition rights Number of stock acquisition rights (units)* 1,000 / Series 29 stock acquisition rights Number of stock acquisition rights (units)* 19,000」
A total of 32,000 Series 27 through Series 29 stock acquisition rights were granted, adding potential dilution exposure. The increase in the total number of issued shares through the exercise of stock acquisition rights was also disclosed. - FY2022-Q1WorsenedAnnual report
「Change in total number of issued shares (shares) 1,568 51,787,073 (Note) 1. Increase resulting from the exercise of stock acquisition rights. / Series 24 stock acquisition rights Number of stock acquisition rights (units)* 26,000 / Series 25 stock acquisition rights Number of stock acquisition rights (units)* 8,000 / Series 26 stock acquisition rights Number of stock acquisition rights (units)* 22,600」
The total number of issued shares increased by 1,568 through the exercise of stock acquisition rights. In addition, a total of 56,600 Series 24 through Series 26 stock acquisition rights were granted, adding potential dilution exposure. - FY2021-Q3MaterialisedAnnual report
「1 August 2020–31 October 2020 (Note) 116 51,785,505 94 5,561,072 94 5,558,572 (Note) Increase resulting from the exercise of stock acquisition rights.」
The total number of issued shares increased by 116 during the third quarter accounting period through the exercise of stock acquisition rights. In addition, 56,000 Series 23 stock acquisition rights were granted to 1 Company employee and 3 subsidiary employees, creating potential dilution exposure. - FY2021-Q2WorsenedAnnual report
「1 June 2020–30 June 2020 (Note) 1 366 51,785,389 454 8,084,440 454 8,081,940 (Note) 1. Increase resulting from the exercise of stock acquisition rights.」
The total number of issued shares increased by 366 through the exercise of stock acquisition rights. In addition, a total of 73,500 Series 20, Series 21 and Series 22 stock acquisition rights were granted, adding potential dilution exposure. - FY2020MaterialisedAnnual report
「The total number of issued shares increased by 2,000,000 through the issuance of new shares in an overseas offering with a payment date of 29 May 2019.」
The number of issued shares increased by 2 million through a new share issuance in an overseas offering, and also increased by 52,155 through the exercise of stock acquisition rights. - FY2020-Q3MaterialisedAnnual report
「1 August 2019–31 October 2019 (Note) 50,800 51,785,023 8,543 8,083,986 8,543 8,081,486 (Note) Increase resulting from the exercise of stock acquisition rights.」
The total number of issued shares increased by 50,800 during the third quarter accounting period through the exercise of stock acquisition rights, and dilution continued to materialize. - FY2020-Q1MaterialisedAnnual report
「The total number of issued shares increased by 2,000,000 through the issuance of new shares in an overseas offering with a payment date of 29 May 2019.」
The number of issued shares increased by 2 million through the issuance of new shares in an overseas offering, and dilution from the new share issuance has materialized. - FY2019MaterialisedAnnual report
「During the current consolidated fiscal year, the total number of issued shares increased by 4,240,587 through the exercise of stock acquisition rights.」
The number of issued shares increased by 4,240,587 through the exercise of stock acquisition rights, and the risk of new share issuance and dilution has materialized. All 4,000,000 shares underlying the Series 13 stock acquisition rights have been issued upon exercise. - FY2019-Q3MaterialisedAnnual report
「The Company received payment for new shares issued upon the exercise of Series 13 stock acquisition rights issued on 6 April 2018 through a third-party allotment with exercise-price adjustment clauses, increasing both share capital and capital surplus by ¥5,529 million. In addition, during the nine-month period of the current consolidated fiscal year, the exercise of stock acquisition rights granted as stock options increased both share capital and capital surplus by ¥23.456 million.」
Funding and share issuance through the exercise of Series 13 stock acquisition rights progressed, and the exercise of stock options also increased share capital and capital surplus during the quarter. - FY2019-Q2MaterialisedAnnual report
「During the second quarter accounting period, stock acquisition rights attached to bonds with stock acquisition rights subject to exercise-price adjustment clauses and other instruments were exercised as follows: Second quarter accounting period (1 May 2018 to 31 July 2018); number of such instruments exercised during the quarter (units): 28,000; shares delivered upon exercise during the quarter (shares): 2,800,000; cumulative number of such instruments exercised as of the end of the quarter (units): 40,000; cumulative shares delivered under such instruments as of the end of the quarter (shares): 4,000,000; cumulative funds raised under such instruments as of the end of the quarter (thousand yen): 10,958,000.」
The exercise of Series 13 stock acquisition rights resulted in 2.8 million shares being delivered during the quarter, bringing cumulative shares delivered to 4 million and cumulative funds raised to ¥10.958 billion. The risk of new share issuance and dilution is materializing through actual share issuance. - FY2019-Q1WorsenedAnnual report
「1 February 2018–30 April 2018 (Note) 1 1,357,752 46,850,033 1,717,983 5,593,055 1,717,983 5,590,555 (Note) 1. Increase resulting from the exercise of stock acquisition rights.」
The number of issued shares increased by 1,357,752 during the quarter through the exercise of stock acquisition rights. In addition, 12,000 Series 13 stock acquisition rights were exercised and 1,200,000 shares were delivered, while stock acquisition rights for 4,000,000 underlying shares were issued, expanding dilution exposure. - FY2018WorsenedAnnual report
「During the current consolidated fiscal year, the total number of issued shares increased by 383,249 through the exercise of stock acquisition rights. / Potential shares resulting from this issuance: 4,000,000 shares」
During the year, the number of issued shares actually increased by 383,249 through the exercise of stock acquisition rights. In addition, after the filing, 4,000,000 Series 13 stock acquisition rights representing potential shares were issued, expanding dilution exposure. - FY2018-Q3MaterialisedAnnual report
「1 August 2017–31 October 2017 (Note) 121,063 45,440,739 4,890 3,868,646 4,890 3,866,146 (Note) 1. Increase resulting from the exercise of stock acquisition rights.」
The total number of issued shares increased by 121,063 from August to October 2017 through the exercise of stock acquisition rights, meaning that the share increase underlying the dilution risk has occurred. - FY2018-Q2MaterialisedAnnual report
「1 May 2017–31 July 2017 Change in total number of issued shares (shares) 10,418 (Note) 1. Increase resulting from the exercise of stock acquisition rights. / The stock acquisition rights issued during the second quarter accounting period were as follows: Number of stock acquisition rights (units) 15,600」
The number of issued shares increased by 10,418 during the quarter through the exercise of stock acquisition rights, and a further 15,600 stock acquisition rights were issued. - FY2018-Q1MaterialisedAnnual report
「Change in total number of issued shares (shares) 200,226 (Note) 1. Increase resulting from the exercise of stock acquisition rights.」
The total number of issued shares increased by 200,226 during the quarter through the exercise of stock acquisition rights, meaning that an event underlying the risk of new share issuance and dilution has occurred. - FY2017First statedAnnual report
「As of the end of February 2017, the Company's total number of issued shares was 45,260 thousand. If these stock acquisition rights are exercised, 1,063 thousand new shares will be issued, potentially diluting the Company's per-share value.」
The company disclosed that the number of issued shares may increase through funding for research and development and the exercise of stock acquisition rights, diluting per-share value.