Dilution of Share Value and Voting Rights Through the Exercise of Stock Acquisition Rights
First written in FY2023. 6 of 7 entries say "Materialised", first in FY2024-Q1. Latest entry: FY2026-H1.
AR advanced technology moved to the "Worse" side of this theme in 2024, 3 years after the typical company in this theme (2021).
The whole theme swung hardest in 2017: 28 of 54 companies on the "Worse" side.
56 other companies' latest entry also says "Materialised".
- FY2026-H1MaterialisedAnnual report
「1 September 2025–30 November 2025 (Note 1): 10,440; 3,468,280; 433; 142,150; 433; 72,134」
The exercise of stock acquisition rights resulted in the issuance of 10,440 shares from September to November 2025 and a further 240 shares from January to February 2026, so dilutive issuance continued. - FY2025MaterialisedAnnual report
「As of the filing date, the number of potential shares was 85,520, representing 2.62% of total issued shares.」
Although 112,520 shares were issued through the exercise of stock acquisition rights during the period, causing actual dilution, potential shares outstanding as of the filing date declined to 85,520, or 2.62%. - FY2025-H1MaterialisedAnnual report
「1 September 2024–28 February 2025: change in total issued shares, 85,920; change in stated capital, ¥3,671 thousand; change in capital surplus, ¥3,671 thousand (due to the exercise of stock acquisition rights).」
The exercise of stock acquisition rights during the current interim consolidated accounting period resulted in the issuance of 85,920 shares, so dilutive issuance continued to occur. - FY2024MaterialisedAnnual report
「As of the filing date, the number of potential shares was 208,840, representing 6.24% of total issued shares.」
The exercise of stock acquisition rights increased shares by 72,320 during the fiscal year. Potential shares declined from 281,160 to 208,840 and the ratio from 8.59% to 6.24%, although dilutive issuance continued to occur. - FY2024-Q2MaterialisedAnnual report
「1 December 2023–29 February 2024: change in total issued shares, 49,640; change in stated capital, ¥3,165 thousand; change in capital surplus, ¥3,165 thousand (due to the exercise of stock acquisition rights).」
The exercise of stock acquisition rights during the first six months resulted in the issuance of 49,640 shares, so the dilution risk continued to materialize through actual share issuance. - FY2024-Q1MaterialisedAnnual report
「Between 1 December 2023 and 31 December 2023, the exercise of stock acquisition rights increased total issued shares by 31,160, stated capital by ¥1,514 thousand and capital surplus by ¥1,514 thousand.」
The exercise of stock acquisition rights resulted in the issuance of 31,160 shares, with part of the potential dilution risk materializing through actual share issuance. - FY2023First statedAnnual report
「As of the filing date, the number of potential shares was 281,160, representing 8.59% of total issued shares. If these stock acquisition rights are exercised, the value and voting rights held by existing shareholders may be diluted.」
The Company disclosed 281,160 potential shares, representing 8.59% of total issued shares.