Worth reading
78Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
156500
Reverse stock split of shares into 1 shareWording
Conditional
How definitive the wording is.Decision and Details
Board of Directors (held on 7 May 2026) and extraordinary shareholders meeting (scheduled for 1 June 2026)Advance disclosure matters concerning the share consolidation
Decision7 May 2026 (date of the Board of Directors resolution)
Implementation26 June 2026 (scheduled effective date)
Going forwardExtraordinary shareholders meeting scheduled for 1 June 2026; delisting scheduled for 24 June 2026; 5,340 treasury shares scheduled to be cancelled on 25 June 2026; share consolidation scheduled to become effective on 26 June 2026; application to the court for permission to sell the fractional shares scheduled for early July 2026; sale to METAWATER Co.,Ltd. scheduled for early August 2026; sale proceeds scheduled to be distributed to shareholders in early October 2026
AmountTender offer price: ¥4,050 per share; consideration for the sale of fractional shares: an amount calculated by multiplying the number of shares held by ¥4,050 (予定)
Quantity / scale156,500 shares consolidated into 1 share; total number of authorized shares as of the effective date: 60 shares; 5,340 treasury shares scheduled to be cancelled as of 25 June 2026
Reason
To reduce the shares held by shareholders other than the Tender Offeror and TORAY INDUSTRIES,INC. to fractional shares of less than 1 share, leave the Tender Offeror and TORAY INDUSTRIES,INC. as the Company's only shareholders, and take the Company's shares private
Impact on Business Performance
While reductions in listing maintenance costs and other expenses are expected, the specific amount of the impact on operating results is Not disclosed
| Item | Details |
|---|---|
| Matter Covered | Advance disclosure matters concerning the share consolidation |
| Decision-Making Body | Board of Directors (held on 7 May 2026) and extraordinary shareholders meeting (scheduled for 1 June 2026) |
| Decision Date | 7 May 2026 (date of the Board of Directors resolution) |
| Implementation Date | 26 June 2026 (scheduled effective date) |
| Amount | Tender offer price: ¥4,050 per share; consideration for the sale of fractional shares: an amount calculated by multiplying the number of shares held by ¥4,050 (予定) |
| Quantity / scale | 156,500 shares consolidated into 1 share; total number of authorized shares as of the effective date: 60 shares; 5,340 treasury shares scheduled to be cancelled as of 25 June 2026 |
| Impact on Business Performance | While reductions in listing maintenance costs and other expenses are expected, the specific amount of the impact on operating results is Not disclosed |
| Reason | To reduce the shares held by shareholders other than the Tender Offeror and TORAY INDUSTRIES,INC. to fractional shares of less than 1 share, leave the Tender Offeror and TORAY INDUSTRIES,INC. as the Company's only shareholders, and take the Company's shares private |
| Governing Rule | Companies Act, Articles 180, 182-2, paragraph 1, and 235; Regulation for Enforcement of the Companies Act, Article 33-9; Regulations Governing Listing of Securities, Article 441; Antimonopoly Act |
| Related previous disclosures | "Notice Regarding the Company's Opinion on the Tender Offer for the Company's Shares by METAWATER Co.,Ltd. and the Capital and Business Alliance with METAWATER Co.,Ltd. and TORAY INDUSTRIES,INC." dated 5 February 2026; "Notice Regarding the Results of the Tender Offer for the Company's Shares by METAWATER Co.,Ltd. and Changes in Major Shareholders and Other Affiliated Companies" dated 25 March 2026; "Notice Regarding Revision of the Dividend Forecast for the Fiscal Year Ending March 2026 (No Dividend)" dated 5 February 2026 |
| Future plans | Extraordinary shareholders meeting scheduled for 1 June 2026; delisting scheduled for 24 June 2026; 5,340 treasury shares scheduled to be cancelled on 25 June 2026; share consolidation scheduled to become effective on 26 June 2026; application to the court for permission to sell the fractional shares scheduled for early July 2026; sale to METAWATER Co.,Ltd. scheduled for early August 2026; sale proceeds scheduled to be distributed to shareholders in early October 2026 |
Items this document does not state (1)
Period Covered
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.Because not all shares could be acquired through the tender offer, the shares held by shareholders other than the Tender Offeror and TORAY INDUSTRIES,INC. will be reduced to fractional shares of less than 1 share, leaving the Company with only those 2 shareholders and taking the Company's shares private.
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