Worth reading
30Immaterial
Scored from 4 of 5 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
631000
Reverse stock split of shares into 1 shareWording
Conditional
How definitive the wording is.Details of issuance or disposal
Share Consolidation
Offering structure
Major shareholders after the offering
Expected to consist only of Daido Steel Co.,Ltd. and the remaining shareholders (shareholding ratio: Not disclosed)
Stock Split RatioConsolidation of 1 share into 631,000 shares; effective date: 21 October 2026 (予定)
Procedures under the Corporate Code of Conduct
Submission of the proposal to the extraordinary general meeting of shareholders scheduled for 16 September 2026, receipt of an opinion letter from an independent special committee, and receipt of advice from an independent third-party valuation institution and law firm
Impact on Business Performance
The Company's shares are expected to be delisted in connection with the implementation of this share consolidation
| Item | Details |
|---|---|
| Type of issuance or disposal | Share Consolidation |
| Total number of issued shares | 7,427,759 shares → 11 shares |
| Stock Split Ratio | Consolidation of 1 share into 631,000 shares; effective date: 21 October 2026 (予定) |
| Procedures under the Corporate Code of Conduct | Submission of the proposal to the extraordinary general meeting of shareholders scheduled for 16 September 2026, receipt of an opinion letter from an independent special committee, and receipt of advice from an independent third-party valuation institution and law firm |
| Major shareholders after the offering | Expected to consist only of Daido Steel Co.,Ltd. and the remaining shareholders (shareholding ratio: Not disclosed) |
| Impact on Business Performance | The Company's shares are expected to be delisted in connection with the implementation of this share consolidation |
Items this document does not state (22)
Number of shares to be issued or disposed ofIssue 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.As part of this transaction, under which Daido Steel Co.,Ltd. will make the Company a wholly owned subsidiary, to eliminate shareholders other than the tender offeror and the remaining shareholders and take the Company's shares private. The provisions on the number of shares constituting one unit will be abolished because the total number of issued shares will be 11 after the share consolidation, making such provisions unnecessary.
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.