Transfer to the Prime Market and Maintaining Free-Float Market Capitalization
First written in FY2022-Q2. 2 of 5 entries say "Achieved", first in FY2023-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2023: 3 of 14 companies on the "Worse" side.
5 other companies' latest entry also says "Achieved".
- FY2026AchievedAnnual report
「As of the end of March 2026, the company had achieved a PBR above 1x, but will accelerate its initiatives to maintain this level going forward.」
The company explicitly stated that it had achieved a PBR above 1x and would accelerate measures to maintain this level going forward. - FY2024RestatedAnnual report
「In promoting management that is conscious of the cost of capital and share price, the company will aim for its target PBR of above 1x, implement various measures to strengthen its earnings power, pursue a new growth strategy, introduce a new shareholder return policy, and improve communication with investors, and work to maximize corporate value.」
As issues following the transition to the Prime Market, the company continues to target a PBR above 1x and measures related to earnings power, growth strategy, shareholder returns and dialogue with investors. - FY2023ReframedAnnual report
「The company selected the Prime Market under the new market segment of the Tokyo Stock Exchange, to which it transitioned on 4 April 2022. As of 31 March 2023, it met all listing maintenance criteria. Going forward, it will further promote initiatives to improve profitability, strengthen investor relations activities, advance ESG management and pursue digital transformation in order to maintain and expand its free-float market capitalization, achieve a PBR of at least 1x, and continuously improve corporate value.」
After completing the transition to the Prime Market, the company shifted its focus to meeting listing maintenance criteria, maintaining and expanding free-float market capitalization, achieving a PBR of at least 1x, and improving corporate value. - FY2023-Q1AchievedAnnual report
「The company transitioned to the Prime Market, the new market segment of the Tokyo Stock Exchange, on 4 April 2022.」
The company completed its planned transition to the Prime Market of the Tokyo Stock Exchange on 4 April 2022. - FY2022-Q2First statedAnnual report
「The company plans to transition to the Prime Market, a market for companies with sufficient market capitalization and liquidity to attract many investors, including institutional investors, higher governance standards, and a commitment to sustainable growth and improved corporate value over the medium to long term centered on constructive dialogue with investors. To avoid a decline in liquidity and the resulting decline in shareholder value if its free-float market capitalization falls below ¥10 billion under the new criteria and it transitions to the Standard Market, the company determined that it would be desirable to implement the current initiative by combining the acquisition of treasury shares with the issuance of stock acquisition rights, for which the board of directors separately resolved to approve issuance.」
The company for the first time described its policy of combining treasury share acquisitions and the issuance of stock acquisition rights to avoid a transition to the Standard Market due to free-float market capitalization of less than ¥10 billion and the resulting decline in liquidity and shareholder value, while planning to transition to the Prime Market.