Dilution of Share Value Through Stock Acquisition Rights
First written in FY2016. 8 of 19 entries say "Materialised", first in FY2021-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
- FY2026MitigatedAnnual report
「Outstanding rights 56,000」
Outstanding employee stock options decreased from 57,000 shares to 56,000 shares. - FY2025MitigatedAnnual report
「Number of stock acquisition rights (units) * 570」
The convertible bonds with stock acquisition rights and the 21st stock acquisition rights disclosed previously no longer appear in the current list of outstanding rights. As of the fiscal year-end, employee stock options covering 57,000 common shares remain. The potential dilution has decreased from the substantial levels seen previously. - FY2024-Q3MaterialisedAnnual report
「1 October 2023–31 December 2023 (Note) 274,218 4,028,133 75,000 2,562,795 75,000 782,705 (Note) Increase resulting from the conversion of convertible bonds with stock acquisition rights.」
The disclosure states that 274,218 shares were issued through the conversion of convertible bonds with stock acquisition rights, increasing capital stock and capital surplus by ¥75.000 million each. - FY2024-Q2MaterialisedAnnual report
「1 July 2023–30 September 2023 (Note) 2 56,100 3,753,915 15,371 2,487,795 15,371 707,705 (Note) 2. Increase resulting from the exercise of stock acquisition rights.」
The disclosure states that 56,100 shares were issued through the exercise of stock acquisition rights during the second quarter, increasing the total number of shares issued, capital stock and capital surplus. - FY2024-Q1MaterialisedAnnual report
「1 April 2023–30 June 2023 (Note) 1 13,000 3,646,815 3,562 2,457,456 3,562 677,365 (Note) 1. Increase resulting from the exercise of stock acquisition rights.」
The disclosure states that 13,000 shares were issued through the exercise of stock acquisition rights during the quarter, increasing the total number of shares issued, capital stock and capital surplus. - FY2023MitigatedAnnual report
「As of 31 May 2023, the number of shares underlying stock acquisition rights was 2,154,805, equivalent to 59.3% of the total number of shares issued.」
Shares subject to potential dilution decreased from 2,462,808 shares, or 74.5%, in the previous full-year disclosure to 2,154,805 shares, or 59.3%. - FY2023-Q3MaterialisedAnnual report
「1 October 2022–31 December 2022 (Note) 129,503 3,456,315 35,461 2,405,259 35,461 625,168」
During the quarter, the conversion of convertible bonds with stock acquisition rights and the exercise of stock acquisition rights resulted in an actual increase of 129,503 shares in the number of shares issued, while capital stock and capital surplus each increased by ¥35.461 million. - FY2023-Q2MaterialisedAnnual report
「Between 1 October 2022 and 31 October 2022, the number of shares issued increased by 60,003, while capital stock and capital surplus each increased by ¥16.418 million as a result of the conversion of convertible bonds with stock acquisition rights and the exercise of stock acquisition rights.」
The conversion of convertible bonds with stock acquisition rights and the exercise of stock acquisition rights resulted in the actual issuance of 60,003 shares after the reporting period. Although the shares subject to potential dilution decreased, the number of shares issued increased, according to the disclosure. - FY2022WorsenedAnnual report
「As of 31 May 2022, the number of shares underlying stock acquisition rights was 2,462,808, equivalent to 74.5% of the total number of shares issued.」
Shares subject to potential dilution increased from 2,404,808 shares, or 73.1%, in the previous full-year disclosure to 2,462,808 shares, or 74.5%. - FY2022-Q2MaterialisedAnnual report
「At a meeting of the Board of Directors held on 15 September 2021, the Company resolved to issue stock options to its employees and issued them on 1 October 2021.」
Stock options covering 59,000 common shares were issued to 43 employees. The exercise price is ¥688 per share, and the exercise period runs from 16 September 2023 to 15 September 2028, creating additional potential dilution. - FY2021MitigatedAnnual report
「As of 31 May 2021, the number of shares underlying stock acquisition rights was 2,404,808, equivalent to 73.1% of the total number of shares issued.」
The shares subject to potential dilution decreased from 92.3% in the previous disclosure to 73.1% in the current disclosure as convertible bonds with stock acquisition rights were converted and stock acquisition rights were exercised. A substantial number of potential shares nevertheless remains. - FY2021-Q2MaterialisedAnnual report
「During the cumulative second quarter, capital stock and capital surplus each increased by ¥98.862 million as a result of the conversion of convertible bonds with stock acquisition rights, the exercise of stock acquisition rights and other factors.」
The disclosure states that the conversion of convertible bonds with stock acquisition rights and the exercise of stock acquisition rights progressed, with capital stock and capital surplus each increasing by ¥98.862 million. - FY2021-Q1MaterialisedAnnual report
「During the cumulative first quarter, capital stock and capital surplus each increased by ¥92.360 million as a result of the conversion of convertible bonds with stock acquisition rights and the exercise of stock acquisition rights.」
The conversion of convertible bonds with stock acquisition rights and the exercise of stock acquisition rights resulted in actual share issuance, with capital stock and capital surplus each increasing by ¥92.360 million. - FY2020WorsenedAnnual report
「As of 31 May 2020, the number of shares underlying stock acquisition rights was 2,830,814, equivalent to 92.3% of the total number of shares issued.」
The issuance of convertible bonds with stock acquisition rights and the 21st stock acquisition rights substantially increased the number of shares subject to potential dilution, from the previously disclosed level in the 7% range to 92.3%. - FY2019RestatedAnnual report
「As of 31 March 2019, the number of shares underlying stock acquisition rights was 222,000, equivalent to 7.6% of the total number of shares issued.」
Although no stock option information was included for the first quarter, the full-year report again discloses potential dilution equivalent to 222,000 shares, or 7.6%. - FY2019-Q1DroppedAnnual report
「① [Details of the stock option plan] No applicable matters.」
The stock option section for the current quarter states that there are no applicable items concerning the stock acquisition rights disclosed in the previous fiscal year. - FY2018RestatedAnnual report
「As of 31 March 2018, the number of shares underlying stock acquisition rights was 222,500, equivalent to 7.7% of the total number of shares issued.」
The potential dilution of equity value equivalent to 7.7% from stock acquisition rights is reconfirmed. - FY2017RestatedAnnual report
「As of 31 March 2017, the number of shares underlying stock acquisition rights was 222,500, equivalent to 7.7% of the total number of shares issued.」
Potential dilution equivalent to 7.7% from stock acquisition rights is disclosed again. - FY2016First statedAnnual report
「As of 31 March 2016, the number of shares underlying stock acquisition rights was 222,500, equivalent to 7.7% of the total number of shares issued.」
Stock acquisition rights granted to officers, employees and external collaborators indicate potential dilution equivalent to 7.7%.