Risk of Reduced Funds Raised Due to Unexercised or Cancelled Stock Acquisition Rights
First written in FY2022-Q2. 4 of 9 entries say "Mitigated", first in FY2023-Q1. Latest entry: FY2025-H1.
The whole theme swung hardest in 2025: 3 of 12 companies on the "Worse" side.
10 other companies' latest entry also says "Mitigated".
- FY2025-H1MitigatedAnnual report
「The company resolved to acquire all remaining stock acquisition rights, completed their acquisition on 3 April 2024, and cancelled all of them pursuant to a resolution of the board of directors held on the same day.」
The risk of reduced funds raised due to unexercised or cancelled second-series stock acquisition rights has been eliminated for that issuance because all remaining rights were acquired and cancelled. - FY2024-Q3WorsenedAnnual report
「¥5,426,250,000 (however, all or some of these stock acquisition rights may not be exercised)」
For the newly issued second series of stock acquisition rights, the company indicated a minimum amount of funds raised of ¥5,426 million if all rights are exercised, while explicitly stating that all or some rights may not be exercised, giving concrete form to the risk of reduced funds raised from unexercised rights. - FY2024-Q2WorsenedAnnual report
「In addition, if the stock acquisition rights are not exercised during their exercise period or if the company cancels stock acquisition rights it has acquired, the amount of funds raised will decrease.」
After the risk of unexercised rights related to the previous issuance had declined, the issuance of 25,000 new stock acquisition rights has created a renewed risk that funds raised could decrease because of unexercised or cancelled rights. - FY2023-Q3MitigatedAnnual report
「Cumulative number of such stock acquisition rights exercised during the quarter (rights) 9,000」
As all 9,000 issued stock acquisition rights had been exercised on a cumulative basis, the risk of reduced funds raised due to unexercised rights had been substantially reduced. - FY2023-Q2MitigatedAnnual report
「Cumulative number of such stock acquisition rights exercised as of the end of the quarter (rights) 3,774 Cumulative shares delivered under such stock acquisition rights as of the end of the quarter (shares) 377,400 Cumulative funds raised under such stock acquisition rights as of the end of the quarter (thousand yen) 380,056」
Exercise of the stock acquisition rights progressed further, resulting in the delivery of 377,400 shares and fundraising of ¥380.056 million on a cumulative basis. The risk of reduced funds raised from unexercised rights remains. - FY2023-Q1MitigatedAnnual report
「Cumulative shares delivered under such stock acquisition rights as of the end of the quarter (shares) 330,100 Cumulative funds raised under such stock acquisition rights as of the end of the quarter (thousand yen) 333,786」
Exercise of the stock acquisition rights progressed, further reducing the number of unexercised rights from the year-end balance. The risk of reduced funds raised due to unexercised or cancelled rights remains, although fundraising through partial exercise is progressing. - FY2022Year-end remaining balance updatedAnnual report
「Common shares 590,100 shares [578,700 shares]」
Although some funds were raised through the exercise of stock acquisition rights, 590,100 shares’ worth remained outstanding at fiscal year-end, and the possibility remains that funds raised could decrease because of unexercised or cancelled rights. - FY2022-Q3Partial exercise of stock acquisition rights and fundraising conductedAnnual report
「During the third quarter accounting period, the stock acquisition rights related to bonds with stock acquisition rights subject to conditions for revising the exercise price were exercised as follows.」
Although funds were raised through the partial exercise of the issued stock acquisition rights, the possibility remains that the amount of funds raised could decrease because of unexercised or cancelled rights. - FY2022-Q2First statedAnnual report
「If the exercise price is revised or adjusted, the amount of funds raised may increase or decrease. In addition, if the stock acquisition rights are not exercised during their exercise period or if the company cancels stock acquisition rights it has acquired, the amount of funds raised will decrease.」
The company explicitly stated that the expected amount of funds raised could decrease due to revisions or adjustments to the exercise price of the stock acquisition rights, failure to exercise them during the exercise period, or their cancellation after acquisition.