Takeover Risk Due to Share Dilution and the Absence of Stable Shareholders
First written in FY2021. 2 of 5 entries say "Worsened", first in FY2022-Q2. Latest entry: FY2026.
Nakamura Choukou moved to the "Worse" side of this theme in 2026.
0 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「As the number of issued shares increased, the number of shareholders was 15,094 as of the end of March 2026, and the individual shareholder ratio was also extremely high at 98.7%. Our share price was ¥775 as of the end of March 2026.」
The individual shareholder ratio rose from 82.21% in the previous disclosure to 98.7%, and the number of shareholders reached 15,094. The share price rose from ¥335 to ¥775, but the risk of an acquisition due to the absence of stable shareholders remained disclosed. - FY2025RestatedAnnual report
「For the purpose of stabilizing our financial position, we resolved on multiple occasions to issue warrants, and all of them have now been exercised. As the number of issued shares increased, the number of shareholders was 7,536 as of the end of March 2025, and the individual shareholder ratio remained high at 82.21%. Our share price was also low at ¥335 as of the end of March 2025.」
While exercise of all warrants had been completed, the risk of an acquisition resulting from the absence of stable shareholders remained disclosed against the backdrop of an individual shareholder ratio of 82.21%, 7,536 shareholders and a share price of ¥335. - FY2022-Q2WorsenedAnnual report
「During the cumulative second-quarter period, the number of issued shares increased by 1,000,000 through the issuance of new shares resulting from the exercise of the ninth series of warrants, which contain a clause for adjustment of the exercise price,」
The increase in issued shares resulting from the exercise of the ninth series of warrants expanded from 295,000 shares through the previous quarter to a cumulative 1,000,000 shares. Share dilution is actually progressing. - FY2022-Q1MaterialisedAnnual report
「During the cumulative first-quarter period, the number of issued shares increased by 295,000 through the issuance of new shares resulting from the exercise of the ninth series of warrants, which contain a clause for adjustment of the exercise price,」
The exercise of the ninth series of warrants resulted in the issuance of 295,000 shares, and share dilution actually occurred. A further 320,000 shares had been issued by the filing date. - FY2021First statedAnnual report
「As we newly resolved in May 2021 to issue warrants for 1 million new shares, the number of shareholders is expected to continue increasing. We are implementing structural reforms to enhance corporate value and working to strengthen the profitability of existing businesses and develop new businesses. However, as our financial position improves, the possibility of a corporate acquisition or other transaction resulting from the absence of stable shareholders and a sluggish share price cannot be ruled out. In such a case, the performance and financial position of our group could be affected.」
Against the backdrop of a potential increase of 1 million shares through the ninth series of warrants, an individual shareholder ratio of 82.8% and a share price of ¥881, the possibility of a corporate acquisition resulting from the absence of stable shareholders and a sluggish share price was disclosed as a new risk.