Offsetting accumulated losses through reductions in capital reserves and appropriation of surplus
First written in FY2022. 1 of 2 entries say "Achieved", first in FY2023-Q1. Latest entry: FY2023-Q1.
127 other companies' latest entry also says "Achieved".
- FY2023-Q1AchievedAnnual report
「At the 19th annual shareholders’ meeting held on 22 September 2022, the company passed resolutions under Article 448, Paragraph 1 of the Companies Act concerning the reduction of capital reserve and disposition of surplus. Effective 30 September 2022, it reduced its capital reserve by ¥1,470.317 million and transferred the same amount to other capital surplus. Under Article 452 of the Companies Act, it also transferred ¥1,470.317 million of other capital surplus to retained earnings.」
Based on the shareholders’ meeting resolution, ¥1,470.317 million of capital reserve was reduced and transferred to other capital surplus and then to retained earnings on 30 September 2022. - FY2022First statedAnnual report
「At the end of the 19th fiscal year, the company had an accumulated deficit in retained earnings. To secure flexibility and agility in its future capital and financial strategies, the company intends to carry out procedures under Article 448, Paragraph 1 of the Companies Act to reduce the amount of its capital reserve and transfer it to other capital surplus, and under Article 452 of the Companies Act to transfer the other capital surplus after the first transfer to retained earnings.」
The company disclosed procedures to reduce its capital reserve of ¥1,470.317 million in full and transfer the amount to retained earnings through other capital surplus. The measure was approved at the shareholders’ meeting on 22 September 2022, with 30 September 2022 as the effective date.