Worth reading
29Immaterial
Scored from 4 of 5 sectionsDirection
Neutral
Direction inferred from the company’s description.Scale
156500
Reverse stock split of shares into 1 shareWording
Conditional
How definitive the wording is.Details of issuance or disposal
Reverse stock split, abolition of provisions on share units, and partial amendments to the Articles of Incorporation
Offering structure
Major shareholders after the offering
Expected to consist solely of METAWATER Co.,Ltd. and TORAY INDUSTRIES,INC. (shareholding percentages are Not disclosed)
Stock Split Ratio156,500 shares consolidated into 1 share. Effective date: 26 June 2026 (scheduled)
Procedures under the Corporate Code of Conduct
An independent special committee was established, and an independent third-party valuation institution, financial advisor and law firm were appointed. The special committee submitted its report dated 5 February 2026, and the Board of Directors approved the proposal unanimously, with all 10 directors, including directors serving on the Audit and Supervisory Committee, voting in favor.
| Item | Details |
|---|---|
| Type of issuance or disposal | Reverse stock split, abolition of provisions on share units, and partial amendments to the Articles of Incorporation |
| Total number of issued shares | 4,290,628 shares (before the effective date) → 27 shares (after the effective date) |
| Stock Split Ratio | 156,500 shares consolidated into 1 share. Effective date: 26 June 2026 (scheduled) |
| Procedures under the Corporate Code of Conduct | An independent special committee was established, and an independent third-party valuation institution, financial advisor and law firm were appointed. The special committee submitted its report dated 5 February 2026, and the Board of Directors approved the proposal unanimously, with all 10 directors, including directors serving on the Audit and Supervisory Committee, voting in favor. |
| Major shareholders after the offering | Expected to consist solely of METAWATER Co.,Ltd. and TORAY INDUSTRIES,INC. (shareholding percentages are Not disclosed) |
Items this document does not state (23)
Number of shares to be issued or disposed ofIssue price and disposal priceTotal issue valueAmount of funds to be raisedEstimated issuance expensesSpecific use of fundsPayment dateIntended allotteeIntended allottee's holding policyDilution RateBasis for determining the amount to be paidExercise priceExercise periodNumber of Stock Acquisition RightsTransfer restriction periodConditions for lifting transfer restrictionsReason for acquisition without considerationCategories and Number of Persons CoveredTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentMost recent equity financingImpact on Business Performance
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To make the company private, with only the tender offeror and TORAY INDUSTRIES,INC. as shareholders. Following the share consolidation, the company is scheduled to be delisted on 24 June 2026.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.