Risk of Share-Value Dilution from Stock Acquisition Rights
First written in FY2016. 6 of 7 entries say "Mitigated", first in FY2017. Latest entry: FY2026.
The whole theme swung hardest in 2017: 18 of 36 companies on the "Worse" side.
11 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「As of 30 June 2026, the number of potentially dilutive shares was 1,139,681, equivalent to 3.8% of the total shares issued.」
The potentially dilutive share ratio declined from 4.1% in the previous fiscal year to 3.8%, reducing dilution exposure. - FY2024MitigatedAnnual report
「As of the end of June 2024, the number of potentially dilutive shares was 1,232,400, equivalent to 4.1% of the total shares issued as of the end of June 2024.」
The potentially dilutive share ratio declined from 4.2% in the previous annual report to 4.1%. The potential impact on the share price from dilution and large-scale sales remains. - FY2022MitigatedAnnual report
「As of the end of June 2022, the number of potentially dilutive shares was 1,261,800, equivalent to 4.2% of the total shares issued as of the end of June 2022.」
The number of potentially dilutive shares increased as a result of the stock split, but the ratio to total shares issued declined from 4.7% in the previous annual report to 4.2%. The dilution risk remains. - FY2021MitigatedAnnual report
「As of the end of June 2021, the number of potentially dilutive shares was 705,810, equivalent to 4.7% of the total shares issued as of the end of June 2021.」
The potentially dilutive share ratio declined from 5.8% in the previous annual report to 4.7%, reducing dilution exposure on a ratio basis. - FY2018MitigatedAnnual report
「As of the end of June 2018, the number of potentially dilutive shares was 862,080, equivalent to 5.8% of the total shares issued as of the end of June 2018.」
The potentially dilutive share ratio declined from 6.7% in the previous fiscal year to 5.8%. Following the stock split, the number of potentially dilutive shares was 862,080, and the dilution risk remains, although it has eased on a ratio basis. - FY2017MitigatedAnnual report
「As of the end of June 2017, the number of potentially dilutive shares was 434,040, equivalent to 6.7% of the total shares issued as of the end of June 2017.」
The number of potentially dilutive shares and their ratio to total shares issued edged down from 437,670 shares and 6.8% in the previous fiscal year to 434,040 shares and 6.7%. However, the potential impact on the share price from dilution and large-scale sales remains. - FY2016First statedAnnual report
「As of the end of June 2016, the number of potentially dilutive shares was 437,670, equivalent to 6.8% of the total shares issued as of the end of June 2016.」
The risks identified are dilution of per-share value through the exercise of stock acquisition rights and the impact on share-price formation of large-scale sales during the same period.