Share Dilution from Equity Financing
First written in FY2023. 7 of 10 entries say "Worsened", first in FY2024-Q3. Latest entry: 2026-09-08.
Tms moved to the "Worse" side of this theme in 2024, 3 years after the typical company in this theme (2021).
The whole theme swung hardest in 2017: 17 of 34 companies on the "Worse" side.
16 other companies' latest entry also says "Worsened".
- FY2027-H1WorsenedAnnual report
「1 January 2026 to 30 June 2026 180,800 45,666,567」
Warrant exercises increased shares by 180,800 during the interim accounting period, and shares issued and outstanding as of the filing date totaled 46,341,767. The issuance of warrants equivalent to 424,800 shares under the 12th Series Warrants further increased potential dilution. - 2026-07-01MaterialisedShare Issuance and Disposal
「23 June 91,900 － 100.0 919 24 June 6,800 － 100.0 68」
The delivery of 98,700 shares upon the exercise of stock acquisition rights in June 2026 further realized the dilution impact. - FY2026-H1WorsenedAnnual report
「1 March 2025 to 14 July 2025 (Note 1): 5,130,000; 45,460,067.」
Exercise of the 10th Series Warrants resulted in the issuance of 5,130,000 shares during the interim accounting period, increasing shares issued and outstanding to 45,485,767 and making dilution more concrete. - FY2025WorsenedAnnual report
「As of the end of the month preceding the filing date, the potential shares from these warrants totaled 4,770,000, equivalent to 11.0% of the Company’s 43,560,067 shares issued and outstanding.」
Potential shares from the 10th Series Warrants totaled 4,770,000 as of the end of the month preceding the filing date, equivalent to 11.0% of shares issued and outstanding. - FY2025-Q1MaterialisedAnnual report
「Total number of shares issued and outstanding: 40,304,367.」
The total number of shares issued and outstanding at the end of the first quarter was 40,304,367, reflecting the private placement planned in the previous quarter. - FY2024-Q3WorsenedAnnual report
「Number of new shares issued: common shares 3,659,487; issue price: ¥187 per share; amount raised, net of estimated expenses: ¥674,324,069.」
The Company resolved to issue 3,659,487 new shares through a private placement to an RTW fund, making the future increase in shares outstanding and dilution a concrete plan. The payment date was set for 31 January 2024. - FY2023First statedAnnual report
「As a pharmaceutical R&D company, the Company may flexibly raise funds, primarily through equity financing, as future R&D activities expand. This could increase the number of shares outstanding, dilute per-share value and affect the share price.」
The Company may conduct equity financing as R&D expands, potentially increasing shares outstanding and diluting per-share value.