Risk of Shareholder-Value Dilution from the Exercise of Stock Acquisition Rights
First written in FY2017. 2 of 6 entries say "Softened", first in FY2019. Latest entry: FY2026.
MITRA Group moved to the "Worse" side of this theme in 2019, 2 years before the typical company in this theme (2021).
The whole theme swung hardest in 2017: 28 of 54 companies on the "Worse" side.
32 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「8th and 9th Stock Acquisition Rights (paid stock options) Number of stock acquisition rights (units)* 22,967 (Note 1) Class, details and number of shares underlying stock acquisition rights (shares)* Common shares 2,296,700 (Note 1)」
Of the 2,317,800 shares underlying stock acquisition rights disclosed as of FY2026-H1, rights covering 21,100 shares expired, leaving 2,296,700 shares outstanding as of the end of February 2026. The potential for dilution remains. - FY2026-H1WorsenedAnnual report
「Class, details and number of shares underlying stock acquisition rights (shares)* Common shares 2,317,800 (Note 1)」
A newly disclosed 2,317,800 shares underlying unexercised stock acquisition rights reintroduced the possibility of equity value dilution after the status had been reported as "There are no applicable matters" in FY2021. - FY2021MitigatedAnnual report
「③ [Status of Other Stock Acquisition Rights, etc.] There are no applicable matters.」
At the end of the fiscal year under review, no stock acquisition rights remained unexercised, substantially reducing the previously disclosed possibility of dilution from the exercise of stock acquisition rights. - FY2020SoftenedAnnual report
「As of 29 February 2020, the number of shares that could potentially be added through the exercise of stock acquisition rights was 3,085,000, compared with 42,521,884 shares issued by the Company. If these stock acquisition rights or stock acquisition rights granted in the future are exercised, the value of the Company's shares per share may be diluted.」
The number of shares that could potentially be added in the future fell to 3,085,000 from 3,185,000 in the previous disclosure. The dilution risk itself remains. - FY2019SoftenedAnnual report
「As of 28 February 2019, the number of shares underlying the stock acquisition rights was 3,185,000, equivalent to 7.52% of the total number of shares issued by the Company. If these stock acquisition rights or stock acquisition rights granted in the future are exercised, the value of the Company's shares may be diluted.」
The number of shares underlying the stock acquisition rights was 3,185,000, or 7.52% of total shares issued. This percentage declined from 9.66% in the previous disclosure. - FY2017First statedAnnual report
「As of 28 February 2017, the number of shares underlying the stock acquisition rights was 802,000, equivalent to 9.66% of the total number of shares issued by the Company. If these stock acquisition rights or stock acquisition rights granted in the future are exercised, the value of the Company's shares may be diluted.」
The 802,000 shares underlying unexercised stock acquisition rights, equivalent to 9.66% of total shares issued, and the possibility of dilution of equity value upon exercise were disclosed.