Conversion of Class A Shares and Common Share Dilution Risk
First written in FY2020. 3 of 12 entries say "Restated". Latest entry: FY2026.
Nippon Sheet Glass moved to the "Worse" side of this theme in 2025, the same year as the typical company in this theme.
The whole theme swung hardest in 2025: 2 of 10 companies on the "Worse" side.
1 other company's latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Common shares delivered upon a demand by holders of Class A shares for common shares as consideration 50,679,263」
The right to demand acquisition in exchange for common shares was exercised for all Class A shares, and 50,679,263 common shares were delivered. The previously potential dilution risk materialized as an increase in the number of common shares outstanding. - FY2026-H1MaterialisedAnnual report
「The securities report for the previous fiscal year described, under “(14) Class A Shares,” the risk of an increase in the number of common shares outstanding if the right attached to the Class A shares to demand acquisition in exchange for common shares were exercised. During the current interim consolidated accounting period and the period through the filing date of this semiannual report, that acquisition right was exercised for 4,692 Class A shares, and 7,926,235 common shares were delivered.」
The right attached to the Class A shares to demand acquisition in exchange for common shares was actually exercised, and 7,926,235 common shares were delivered in exchange for 4,692 Class A shares. The previously potential dilution risk materialized as an increase in the number of common shares. - FY2025-H1No dilutive effect from potential sharesAnnual report
「During the current interim consolidated accounting period, stock options, conversion of the Class A shares and restricted shares had the effect of reducing interim loss per share, and therefore the potential shares had no dilutive effect.」
Due to the loss attributable to owners of the parent, potential shares, including conversion of the Class A shares, could not be included in the calculation of diluted interim earnings per share. - FY2024-Q3Inclusion of the conversion assumption in diluted earnings per shareAnnual report
「Assumption of conversion of Class A shares (thousand shares) 50,679」
The 50,679 thousand potential common shares assuming conversion of the Class A shares into common shares were reflected in the calculation of diluted earnings per share for the cumulative third quarter. - FY2022Update to potential dilution figuresAnnual report
「In the current consolidated fiscal year, potential common shares excluded from the calculation of diluted earnings per share because they had no dilutive effect comprised 50,679 thousand shares based on the assumption of conversion of the Class A shares.」
The company disclosed 50,679 thousand potential common shares assuming conversion of the Class A shares into common shares, but excluded them from the calculation of diluted earnings because they had no dilutive effect in the current fiscal year. - FY2022-Q3RestatedAnnual report
「Our Group considers the analysis of business and other risks disclosed in the securities report for the previous fiscal year to remain valid during the first 3 quarters of the current fiscal year. There were no significant changes or other developments in the business and other risks described in that securities report during the first 3 quarters of the current fiscal year.」
The company states that there have been no material changes regarding the conversion of Class A shares and the risk of dilution of common shares. - FY2022-Q2RestatedAnnual report
「The Group considers its analysis of business and other risks disclosed in the annual securities report for the previous fiscal year to remain valid during the second quarter of the current consolidated cumulative period. There were no material changes to the business and other risks described in the annual securities report for the previous fiscal year during the second quarter of the current consolidated cumulative period.」
The company states that there have been no material changes regarding the conversion of Class A shares and the risk of dilution of common shares. - FY2022-Q1Quantification of potential dilution from Class A sharesAnnual report
「Assumption of conversion of Class A shares (thousand shares) 50,679」
The calculation of diluted earnings per share reflects 50,679 thousand potential common shares, assuming conversion of the Class A shares into common shares. - FY2021-Q1RestatedAnnual report
「An event lifting the restriction on conversion has occurred, allowing holders of the Class A shares to exercise their right to demand acquisition in exchange for common shares.」
With 30,000 Class A shares remaining, the company continues to disclose that conversion into common shares is possible. - FY2020First statedAnnual report
「If the Class A shares are converted into common shares in the future, the total number of common shares outstanding will increase. The resulting inflow of these shares into the market could dilute the value per common share and ownership interests, and could adversely affect trading in and the share price of our common shares.」
For the 30,000 Class A shares, an event lifting the restriction on conversion under the right to demand acquisition for common shares as consideration occurred due to the failure to meet performance targets, and the future increase in common shares and resulting dilution were identified as new risks.