Dilution from Stock Acquisition Rights and Risk of Lower Share Liquidity
First written in FY2023. 4 of 8 entries say "Worsened", first in FY2024. Latest entry: 2026-05-15.
Realgate moved to the "Worse" side of this theme in 2024, 4 years after the typical company in this theme (2020).
The whole theme swung hardest in 2018: 9 of 9 companies on the "Worse" side.
7 other companies' latest entry also says "Worsened".
- 2026-05-15WorsenedShare Issuance and Disposal
「The total number of shares issued through the public offering, parallel third-party allotment capital increase and this third-party allotment will be a maximum of 754,100 shares, representing a maximum of 7,541 voting rights. This is equivalent to a maximum of 13.03% of the Company’s total issued shares of 5,789,150 as of 31 March 2026, and a maximum of 13.06% of its total voting rights of 57,732 as of that date. This will result in share dilution.」
The company expects maximum dilution of 13.03% from the public offering and third-party allotments. - FY2026-H1WorsenedAnnual report
「Eighth Series of Stock Acquisition Rights Class, details and number of shares underlying the stock acquisition rights (shares)* Common shares 171,200 (Note 1)」
For the Series 8 Stock Acquisition Rights, 171,200 underlying shares are stated, adding dilution exposure from potential shares. During the interim accounting period, the number of shares issued and outstanding also increased as a result of the exercise of stock acquisition rights. - FY2025WorsenedAnnual report
「At the end of the fiscal year, the number of shares underlying stock acquisition rights was 312,400, representing a potential share ratio of 5.4% against the Company's 5,746,900 issued shares. If the rights are exercised in the future, the value of the Company's shares on a per-share basis may be diluted.」
The potential share ratio increased from 4.5% in the previous fiscal year to 5.4%, increasing the dilution risk. - FY2025-H1MaterialisedAnnual report
「The increase resulted from the exercise of stock acquisition rights (stock options).」
The number of issued shares increased by 17,700 during the interim accounting period due to the exercise of stock acquisition rights, and dilution-related events continued to occur. - FY2024WorsenedAnnual report
「At the end of the fiscal year, the number of shares underlying stock acquisition rights was 132,800, representing a potential share ratio of 4.5% against the Company's 2,822,800 issued shares. If the rights are exercised in the future, the value of the Company's shares on a per-share basis may be diluted.」
The potential share ratio from stock acquisition rights increased from 2.1% in the previous fiscal year to 4.5%. The tradable share ratio was 29.0%, and measures to improve liquidity included a public offering, the exercise of stock options and a secondary offering by existing shareholders. - FY2024-Q2MaterialisedAnnual report
「Of the issued shares, 18,500 were issued through an in-kind contribution for which monetary compensation receivables of ¥26.899 million were contributed as restricted stock compensation. 1 January 2024–31 March 2024 (Note) 2,900 2,804,200 229 679,502 229 649,502 (Note) Increase due to the exercise of stock acquisition rights.」
In addition to the issuance of 18,500 shares as restricted stock compensation, the number of issued shares increased by 2,900 during the quarter due to the exercise of stock acquisition rights, and dilution-related events continued to occur. - FY2024-Q1MaterialisedAnnual report
「1 October 2023–31 December 2023 (Note) 1,600 2,782,800 126 665,823 126 635,823 (Note) Increase due to the exercise of stock acquisition rights.」
The total number of issued shares increased by 1,600 during the quarter due to the exercise of stock acquisition rights, an event relating to dilution. The Company also discloses stock acquisition rights covering a total of 98,000 shares under the fifth and sixth series. - FY2023First statedAnnual report
「At the end of the fiscal year, the number of shares underlying stock acquisition rights was 57,900, representing a potential share ratio of 2.1% against the Company's 2,781,200 issued shares. If the rights are exercised in the future, the value of the Company's shares on a per-share basis may be diluted.」
The Company shows a potential share ratio of 2.1% from stock options and a tradable share ratio of 29.2%, identifying dilution and reduced liquidity as risks.