Trading Stagnation Due to Lower Share Liquidity After Listing
First written in FY2023. 4 of 8 entries say "Restated". Latest entry: FY2026.
The whole theme swung hardest in 2025: 14 of 48 companies on the "Worse" side.
22 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「The tradable share ratio was 39.5% as of the end of the fiscal year.」
The tradable share ratio rose from 38.25% to 39.5% and remained above the 25% listing maintenance requirement. - FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It has been confirmed that there have been no material changes regarding the risk of reduced share liquidity after listing. - FY2025MitigatedAnnual report
「The free-float ratio was 38.25% as of the filing date of this document.」
The free-float ratio rose from 36.06% previously to 38.25% and remains above the 25% continued-listing standard. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
It has been comprehensively confirmed that there have been no material changes regarding the risk of reduced share liquidity after listing. - FY2024MitigatedAnnual report
「The free-float ratio was 36.06% as of the filing date of this document, compared with the 25% continued-listing standard set by the Tokyo Stock Exchange.」
The free-float ratio rose from 31.20% in the previous disclosure to 36.06%, above the 25% continued-listing standard. - FY2024-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
It has been comprehensively confirmed that there have been no material changes regarding the risk of reduced share liquidity after listing. - FY2024-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
It has been comprehensively confirmed that there have been no material changes regarding the risk of reduced share liquidity after listing. - FY2023First statedAnnual report
「The free-float ratio was 31.20% as of the filing date of this document. Going forward, the Company plans to improve liquidity by taking into account requests for partial offerings to major shareholders and increases in the number of freely tradable shares resulting from the issuance and exercise of stock options. However, if liquidity declines from its level at listing for any reason, trading in the Company's shares in the market may stagnate.」
The free-float ratio is 31.20%, and reduced liquidity and its impact on share supply and demand are identified as risks.