Increasing Flexibility in Capital Policy Through Reductions in Stated Capital and Capital Reserves
First written in FY2023. 1 of 3 entries say "Restated". Latest entry: FY2024-Q2.
38 other companies' latest entry also says "Achieved".
- FY2024-Q2AchievedAnnual report
「Pursuant to the resolution of the 75th annual general meeting of shareholders held on 29 June 2023, the reduction of capital became effective on 1 September 2023. Capital stock was reduced by ¥900,000 thousand and the capital reserve by ¥225,000 thousand, with the amounts transferred to other capital surplus. As a result, at the end of the second quarter of the current consolidated fiscal year, capital stock was ¥100,000 thousand and capital surplus was ¥1,150,000 thousand.」
Effective 1 September 2023, capital stock was reduced by ¥900,000 thousand and the capital reserve by ¥225,000 thousand, confirming the effectiveness of the planned reduction of capital without compensation and its reflection in the balances. - FY2024-Q1RestatedAnnual report
「At the annual general meeting of shareholders held on 29 June 2023, the company resolved, pursuant to Article 447, Paragraph 1 and Article 448, Paragraph 1 of the Companies Act, to reduce capital stock by ¥900,000 thousand and the capital reserve by ¥225,000 thousand, effective 1 September 2023, and transfer the amounts to other capital surplus.」
The resolution to reduce capital stock and the capital reserve, including the effective date of 1 September 2023 and the amounts of the reductions, continues to be disclosed. - FY2023First statedAnnual report
「The amount of capital stock will be reduced by ¥900,000 thousand from ¥1,000,000 thousand to ¥100,000 thousand. The amount of the capital reserve will be reduced by ¥225,000 thousand from ¥250,000 thousand to ¥25,000 thousand.」
The company disclosed, as a subsequent event, a plan to reduce capital without compensation, effective 1 September 2023, to improve its financial position, increase the flexibility and agility of its capital policy, including shareholder returns, and reduce its tax burden.