Announced details
Research and development and commercialisation of emixustat hydrochloride, research and development of Kubota Glasses Technology, and business operations
The materials state that the difference from a typical moving-strike warrant is approximately ¥100–120 million as a result of the 0% discount.
The materials state that EVO FUND has participated in multiple transactions in which it exercised all of the stock acquisition rights allocated to it and contributed to funding by listed companies.
窪田良 (Ryo Kubota) is an executive of the company and holds its shares. EVO FUND also holds the company's shares. 窪田 (Ryo Kubota) previously subscribed for common shares issued through a third-party allotment on 22 December 2025.
窪田良 (Ryo Kubota): Representative Director, Chairman, President and Chief Executive Officer. EVO FUND: Intended allottee for investment purposes.
Initially expected funds raised: ¥1.20 billion for the 41st Series and ¥1.20 billion for the 42nd Series. Total amount expected to be raised through the third-party allotment: approximately ¥2,380 million.
Initial exercise price for the 42nd Series: ¥60. For the 41st Series, the exercise price is 100% of the average closing price for the 2 preceding trading days, calculated every 2 trading days, with a minimum exercise price of ¥30.
The company does not address Impact on Business Performance.
| Item | Details |
|---|---|
| Names of Products / Services Covered | Emixustat hydrochloride, Kubota Glasses Technology |
| Counterparty | 窪田 良 (Ryo Kubota), EVO FUND |
| Counterparty overview | 窪田良 (Ryo Kubota): Representative Director, Chairman, President and Chief Executive Officer. EVO FUND: Intended allottee for investment purposes. |
| Relationship with the Company | 窪田良 (Ryo Kubota) is an executive of the company and holds its shares. EVO FUND also holds the company's shares. 窪田 (Ryo Kubota) previously subscribed for common shares issued through a third-party allotment on 22 December 2025. |
| Contract Value | Initially expected funds raised: ¥1.20 billion for the 41st Series and ¥1.20 billion for the 42nd Series. Total amount expected to be raised through the third-party allotment: approximately ¥2,380 million. |
| Offering price | Initial exercise price for the 42nd Series: ¥60. For the 41st Series, the exercise price is 100% of the average closing price for the 2 preceding trading days, calculated every 2 trading days, with a minimum exercise price of ¥30. |
| Contract Date | 23 October 2026 (date of publication of the materials; the date the purchase agreement was executed is not specified in the main text) |
| Launch date | 10 November 2026 (scheduled exercise commencement date) |
| Applicable area | Research and development and commercialisation of emixustat hydrochloride, research and development of Kubota Glasses Technology, and business operations |
| Quantitative Effects | The materials state that the difference from a typical moving-strike warrant is approximately ¥100–120 million as a result of the 0% discount. |
| Usage history | The materials state that EVO FUND has participated in multiple transactions in which it exercised all of the stock acquisition rights allocated to it and contributed to funding by listed companies. |
Items this document does not state (7)
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 secure a funding structure that does not depend on a single funding method and enables the company to raise the necessary funds flexibly and with greater certainty, while limiting the impact on existing shareholders as much as possible. For the 41st Series, the company expects zero discount to increase the funds raised and avoid excessive share issuance. For the 42nd Series, it expects an additional funding opportunity if the share price rises in the future.