Lower Share Liquidity Due to Grants of Restricted Stock
First written in FY2021. 9 of 10 entries say "Restated". Latest entry: FY2025.
The whole theme swung hardest in 2025: 14 of 48 companies on the "Worse" side.
11 other companies' latest entry also says "Restated".
- FY2025RestatedAnnual report
「The group grants restricted shares to directors, executive officers and employees to promote greater value sharing with shareholders and improve corporate value over the medium to long term.」
The company has reaffirmed its existing risks, including the potential for reduced share liquidity resulting from grants of restricted shares. - FY2024-Q3RestatedAnnual report
「During the nine months ended the third quarter, no new business or other risks arose. There were also no significant changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company has confirmed the continuation of a comprehensive disclosure stating that there have been no material changes regarding the risk of reduced share liquidity resulting from grants of restricted shares. - FY2024-Q1RestatedAnnual report
「No new business or other risks arose during the three months ended 30 June. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has confirmed the continuation of a comprehensive disclosure stating that there have been no material changes regarding the risk of reduced share liquidity resulting from grants of restricted shares. - FY2023RestatedAnnual report
「Accordingly, if grants of restricted shares are implemented, the liquidity of the company’s shares may decline.」
The company has reaffirmed the risk that share liquidity may decline as a result of grants of restricted shares. - FY2023-Q2RestatedAnnual report
「No new business or other risks arose during the 2nd quarter cumulative period. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has confirmed the continuation of a comprehensive disclosure stating that there have been no material changes regarding the risk of reduced share liquidity resulting from grants of restricted shares. - FY2022RestatedAnnual report
「Accordingly, if grants of restricted shares are implemented, the liquidity of the company’s shares may decline.」
The company has reaffirmed the risk that share liquidity may decline as a result of grants of restricted shares. - FY2022-Q3RestatedAnnual report
「During the cumulative third quarter of the fiscal year under review, there were no newly arising business or other risks. There were also no material changes to the business or other risks described in the annual securities report for the previous fiscal year.」
The company has confirmed the continuation of a comprehensive disclosure stating that there have been no material changes regarding the risk of reduced share liquidity resulting from grants of restricted shares. - FY2022-Q2RestatedAnnual report
「No new business or other risks arose during the 2nd quarter cumulative period. There were also no material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company has confirmed the continuation of a comprehensive disclosure stating that there have been no material changes regarding the risk of reduced share liquidity resulting from grants of restricted shares. - FY2022-Q1RestatedAnnual report
「No new business or other risks arose during the first quarter of the current consolidated cumulative period. There were also no material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company has confirmed the continuation of a comprehensive disclosure stating that there have been no material changes regarding the risk of reduced share liquidity resulting from grants of restricted shares. Although the disposal of restricted shares is described as a subsequent event, the disclosure does not state that a decline in liquidity has actually occurred. - FY2021First statedAnnual report
「Accordingly, if grants of restricted shares are implemented, the liquidity of the company’s shares may decline.」
Separate from the dilution risk associated with conventional stock acquisition rights, the company has explicitly identified the potential decline in share liquidity resulting from grants of restricted shares as a risk.