Details of issuance or disposal
Partial conversion of Class A preferred shares into common shares (through the exercise of acquisition rights)
Class A preferred shares 632,165 shares (Advantage Partners VII Investment Limited Partnership 265,778 shares, APCP VII, L.P. 122,141 shares, CJIP(AP) VII, L.P. 81,955 shares, JBO(AP) VII, L.P. 123,742 shares, AP Reiwa F7-A, L.P. 15,812 shares, and AP Reiwa F7-B, L.P. 22,737 shares) / Common shares 3,514,308 shares (Advantage Partners VII Investment Limited Partnership 1,477,504 shares, APCP VII, L.P. 679,002 shares, CJIP(AP) VII, L.P. 455,601 shares, JBO(AP) VII, L.P. 687,902 shares, AP Reiwa F7-A, L.P. 87,901 shares, and AP Reiwa F7-B, L.P. 126,398 shares)
The height of each bar represents the proportion of shares received by each allottee. The thin line below represents the number of existing shares to which these shares are added.
23.90% (the ratio of the 3,514,308 common shares to be delivered to the 14,706,021 common shares outstanding before this conversion)
The dilution rate shows what proportion the newly issued shares represent of the existing shares. The higher the proportion, the more the value and voting rights per share are diluted.
| Item | Details |
|---|---|
| Type of issuance or disposal | Partial conversion of Class A preferred shares into common shares (through the exercise of acquisition rights) |
| Number of shares to be issued or disposed of | Class A preferred shares 632,165 shares (Advantage Partners VII Investment Limited Partnership 265,778 shares, APCP VII, L.P. 122,141 shares, CJIP(AP) VII, L.P. 81,955 shares, JBO(AP) VII, L.P. 123,742 shares, AP Reiwa F7-A, L.P. 15,812 shares, and AP Reiwa F7-B, L.P. 22,737 shares) / Common shares 3,514,308 shares (Advantage Partners VII Investment Limited Partnership 1,477,504 shares, APCP VII, L.P. 679,002 shares, CJIP(AP) VII, L.P. 455,601 shares, JBO(AP) VII, L.P. 687,902 shares, AP Reiwa F7-A, L.P. 87,901 shares, and AP Reiwa F7-B, L.P. 126,398 shares) |
| Payment date | 4 June 2026 (date of conversion into common shares) |
| Intended allottee | Name Advantage Partners VII Investment Limited Partnership / Number of Shares 1,477,504 common shares, Name APCPⅦ, L.P. / Number of Shares 679,002 common shares, Name CJIP(AP)Ⅶ, L.P. / Number of Shares 455,601 common shares, Name JBO(AP)Ⅶ, L.P. / Number of Shares 687,902 common shares, Name AP Reiwa F7-A, L.P. / Number of Shares 87,901 common shares, Name AP Reiwa F7-B, L.P. / Number of Shares 126,398 common shares |
| Intended allottee's holding policy | The Company has confirmed that AP Funds intend to continue holding the common shares as well. |
| Dilution Rate | 23.90% (the ratio of the 3,514,308 common shares to be delivered to the 14,706,021 common shares outstanding before this conversion) |
| Total number of issued shares | 14,706,021 common shares and 3,000,000 Class A preferred shares → 18,220,329 common shares and 2,367,835 Class A preferred shares（Common shares +23.90%; Class A preferred shares −21.07%） |
| Most recent equity financing | Issuance of Class A preferred shares and Class B subordinated shares through a third-party allotment dated 18 December 2024 (the issue amount is Not disclosed in this document) |
Items this document does not state (20)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.AP Funds determined that, as the sponsor supporting the business revitalization plan, it would be optimal to convert the Class A preferred shares into common shares in stages. The Company also discussed the optimal capital structure with AP Funds and determined that this conversion was optimal at this time.