Worth reading
80Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
619700
SharesWording
Definitive
How definitive the wording is.Details of issuance or disposal
Issuance of new shares through a third-party allotment
Who receives how much619,700Shares
619,700 shares (new shares)
JICVGI Opportunity Fund I Investment Limited Partnership619,700 shares
The lower thin line represents the existing number of shares to which these shares will be added.
¥4,841 per share
Total issue value
¥2,999,967,700
Amount of funds to be raised
Total payment amount of ¥2,999,967,700; estimated net proceeds of ¥2,976,737,700
Estimated issuance expenses
Estimated issuance expenses of ¥23,230,000
Specific use of funds
Research and development of second-generation cardiac muscle cell sheetsAmount ¥970 million / Scheduled timing of expenditures October 2026 to March 2029
Research and development of catheter-based treatmentsAmount ¥1,026 million / Scheduled timing of expenditures October 2026 to March 2030
Research and development of in vivo regenerative factor inducersAmount ¥210 million / Scheduled timing of expenditures October 2026 to March 2030
Research and development of mesenchymal stem cells (MSCs)Amount ¥770 million / Scheduled timing of expenditures October 2026 to March 2030
Existing Shares and Increase
+7.49%Rate of increase
8,273,376 shares8,893,076Shares
7.49% of total shares issued and 7.53% of total voting rights
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.
Offering structure
Major shareholders after the offering
Name DAIICHI SANKYO COMPANY,LIMITED / Shareholding ratio 11.26%Name JICVGI Opportunity Fund I Investment Limited Partnership / Shareholding ratio 6.98%Name TERUMO CORPORATION / Shareholding ratio 5.97%Name Sawa Yoshiki (澤芳樹) / Shareholding ratio 1.39%Name MATSUI SECURITIES CO.,LTD. / Shareholding ratio 1.26%Name DEFTA LIMITED / Shareholding ratio 1.25%Name ASAHI INTECC CO.,LTD. / Shareholding ratio 1.13%Name DAI-DAN CO.,LTD. / Shareholding ratio 1.13%Name 楽天証券株式会社 / Shareholding ratio 1.01%Name J.P. Morgan Securities Co., Ltd. / Shareholding ratio 1.00%
Intended allottee's holding policy
The allottee intends to hold the shares over the medium to long term unless there are special circumstances. The Company plans to obtain a written undertaking covering, among other matters, an obligation to report the details to the Company if all or part of the shares are transferred within 2 years of the payment date.
Payment date
28 September 2026
Basis for determining the amount to be paid
¥4,841, equivalent to 91% of the closing price of ¥5,320 on 10 September 2026. This represents a 10.34% discount to the average price of ¥5,400 over the preceding 1 month, a 2.51% premium to the average price of ¥4,723 over the preceding 3 months, and an 11.57% discount to the average price of ¥5,474 over the preceding 6 months.
Procedures under the Corporate Code of Conduct
Because the dilution rate is below 25% and the transaction does not involve a change in the controlling shareholder, obtaining an opinion from an independent third party and procedures for confirming shareholder approval are not required.
Most recent equity financing
There are no matters requiring disclosure.
Impact on Business Performance
The impact on consolidated results for the fiscal year ending March 2027 is immaterial.
| Item | Details |
|---|---|
| Type of issuance or disposal | Issuance of new shares through a third-party allotment |
| Number of shares to be issued or disposed of | 619,700 shares (new shares) |
| Issue price and disposal price | ¥4,841 per share |
| Total issue value | ¥2,999,967,700 |
| Amount of funds to be raised | Total payment amount of ¥2,999,967,700; estimated net proceeds of ¥2,976,737,700 |
| Estimated issuance expenses | Estimated issuance expenses of ¥23,230,000 |
| Specific use of funds | Details Research and development of second-generation cardiac muscle cell sheets / Amount ¥970 million / Scheduled timing of expenditures October 2026 to March 2029, Details Research and development of catheter-based treatments / Amount ¥1,026 million / Scheduled timing of expenditures October 2026 to March 2030, Details Research and development of in vivo regenerative factor inducers / Amount ¥210 million / Scheduled timing of expenditures October 2026 to March 2030, Details Research and development of mesenchymal stem cells (MSCs) / Amount ¥770 million / Scheduled timing of expenditures October 2026 to March 2030 |
| Payment date | 28 September 2026 |
| Intended allottee | Name JICVGI Opportunity Fund I Investment Limited Partnership / Number of Shares 619,700 shares |
| Intended allottee's holding policy | The allottee intends to hold the shares over the medium to long term unless there are special circumstances. The Company plans to obtain a written undertaking covering, among other matters, an obligation to report the details to the Company if all or part of the shares are transferred within 2 years of the payment date. |
| Dilution Rate | 7.49% of total shares issued and 7.53% of total voting rights |
| Total number of issued shares | 8,273,376 shares → 8,893,076 shares（7.49%） |
| Basis for determining the amount to be paid | ¥4,841, equivalent to 91% of the closing price of ¥5,320 on 10 September 2026. This represents a 10.34% discount to the average price of ¥5,400 over the preceding 1 month, a 2.51% premium to the average price of ¥4,723 over the preceding 3 months, and an 11.57% discount to the average price of ¥5,474 over the preceding 6 months. |
| Procedures under the Corporate Code of Conduct | Because the dilution rate is below 25% and the transaction does not involve a change in the controlling shareholder, obtaining an opinion from an independent third party and procedures for confirming shareholder approval are not required. |
| Most recent equity financing | There are no matters requiring disclosure. |
| Major shareholders after the offering | Name DAIICHI SANKYO COMPANY,LIMITED / Shareholding ratio 11.26%, Name JICVGI Opportunity Fund I Investment Limited Partnership / Shareholding ratio 6.98%, Name TERUMO CORPORATION / Shareholding ratio 5.97%, Name Sawa Yoshiki (澤芳樹) / Shareholding ratio 1.39%, Name MATSUI SECURITIES CO.,LTD. / Shareholding ratio 1.26%, Name DEFTA LIMITED / Shareholding ratio 1.25%, Name ASAHI INTECC CO.,LTD. / Shareholding ratio 1.13%, Name DAI-DAN CO.,LTD. / Shareholding ratio 1.13%, Name 楽天証券株式会社 / Shareholding ratio 1.01%, Name J.P. Morgan Securities Co., Ltd. / Shareholding ratio 1.00% |
| Impact on Business Performance | The impact on consolidated results for the fiscal year ending March 2027 is immaterial. |
Items this document does not state (11)
Exercise 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 underwriterOverallotmentStock Split Ratio
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 accelerate the development of products that will serve as growth drivers following the domestic launch of ReHeart, expand the product portfolio, and strengthen the financial foundation. The Company selected a third-party allotment because it can raise funds with certainty and is suitable for strengthening the financial foundation of a company whose research and development expenses precede revenue generation.
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.