Worth reading
30Immaterial
Scored from 4 of 5 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
88.679113
Decrease of million shares (share consolidation)Wording
Conditional
How definitive the wording is.Details of issuance or disposal
Share Consolidation
発行・処分する株式数
Consolidation of 10,000,000 common shares into 1 share
Offering structure
Major shareholders after the offering
株式会社キーウェスト・ネットワーク (expected to become the sole shareholder after the share consolidation)
Stock Split RatioConsolidation of 1 share into 10,000,000 shares, effective date: 25 December 2026 (planned)
Procedures under the Corporate Code of Conduct
A special committee consisting of 3 independent outside directors was established and an opinion report was obtained. Valuation reports were obtained from 2 independent third-party valuation firms, and a fairness opinion was obtained from 1 of them. All 11 directors without conflicts of interest approved the transaction.
Impact on Business Performance
The reduction in capital will have no impact on the company's financial results. The company is expected to be delisted on 23 December 2026 as a result of the share consolidation.
| Item | Details |
|---|---|
| Type of issuance or disposal | Share Consolidation |
| Number of shares to be issued or disposed of | Consolidation of 10,000,000 common shares into 1 share |
| Total number of issued shares | 88,679,121 shares → 8 shares |
| Stock Split Ratio | Consolidation of 1 share into 10,000,000 shares, effective date: 25 December 2026 (planned) |
| Procedures under the Corporate Code of Conduct | A special committee consisting of 3 independent outside directors was established and an opinion report was obtained. Valuation reports were obtained from 2 independent third-party valuation firms, and a fairness opinion was obtained from 1 of them. All 11 directors without conflicts of interest approved the transaction. |
| Major shareholders after the offering | 株式会社キーウェスト・ネットワーク (expected to become the sole shareholder after the share consolidation) |
| Impact on Business Performance | The reduction in capital will have no impact on the company's financial results. The company is expected to be delisted on 23 December 2026 as a result of the share consolidation. |
Items this document does not state (21)
Issue price and disposal priceTotal issue valueAmount of funds to be raisedEstimated issuance expensesSpecific use of fundsPayment dateIntended allotteeIntended allottee's holding policyDilution RateBasis for determining the amount to be paidExercise priceExercise periodNumber of Stock Acquisition RightsTransfer restriction periodConditions for lifting transfer restrictionsReason for acquisition without considerationCategories and Number of Persons CoveredTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentMost recent equity financing
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.The purpose is to make the tender offeror the sole shareholder on the company's shareholder register and take the company private. Following the delisting, the company will seek to enhance corporate value by pursuing research and development investment in advanced technologies, human resources investment, structural reform and strategic M&A without being affected by short-term stock market valuations. The reduction in capital is intended to enable the application of tax rules appropriate to the scale of the business, maintain financial soundness, and ensure flexibility and agility in capital policy.
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.