Stock Liquidity Risk from a Decline in the Free-Float Ratio
First written in FY2024. 2 of 3 entries say "Worsened", first in FY2025. Latest entry: FY2026.
S&J moved to the "Worse" side of this theme in 2025, 1 year before the typical company in this theme (2026).
The whole theme swung hardest in 2025: 14 of 48 companies on the "Worse" side.
14 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「The listing maintenance standard for the ratio of tradable shares prescribed by Tokyo Stock Exchange, Inc. is 25%. The ratio of tradable shares was 27.66% as of 31 March 2026.」
The ratio of tradable shares declined from 27.71% to 27.66%, further narrowing the gap with the 25% listing maintenance standard. - FY2025WorsenedAnnual report
「The listing maintenance standard is 25%. The ratio was expected to be 29.12% at the time of the initial listing, but was 27.71% as of 31 March 2025.」
The ratio of tradable shares declined from 30.32% in the previous fiscal year to 27.71%, narrowing the gap with the 25% listing maintenance standard. - FY2024First statedAnnual report
「The listing maintenance standard for the ratio of tradable shares prescribed by Tokyo Stock Exchange, Inc. is 25%. The ratio was expected to be 29.12% at the time of the initial listing, but was 30.32% as of 31 March 2024.」
The disclosure states the 25% listing maintenance standard for the ratio of tradable shares, the expected 29.12% at the time of the initial listing, and 30.32% at the end of March 2024, and addresses the risk of lower liquidity in the future.