Worth reading
25Immaterial
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
Share Consolidation
Intended allottee
METAWATER Co.,Ltd. (scheduled purchaser of the fractional shares)
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)
Basis for determining the amount to be paid
The sale price for the fractional shares is scheduled to be ¥4,050, the same as the tender offer price per share (the discount/premium to the reference share price is Not disclosed)
Procedures under the Corporate Code of Conduct
At the extraordinary general meeting of shareholders held on 1 June 2026, the proposals for the share consolidation and partial amendments to the Articles of Incorporation were approved and adopted as originally proposed
| Item | Details |
|---|---|
| Type of issuance or disposal | Share Consolidation |
| Intended allottee | METAWATER Co.,Ltd. (scheduled purchaser of the fractional shares) |
| Total number of issued shares | 4,290,628 shares → 27 shares |
| Basis for determining the amount to be paid | The sale price for the fractional shares is scheduled to be ¥4,050, the same as the tender offer price per share (the discount/premium to the reference share price is Not disclosed) |
| Stock Split Ratio | 156,500 shares consolidated into 1 share. Effective date: 26 June 2026 (scheduled) |
| Procedures under the Corporate Code of Conduct | At the extraordinary general meeting of shareholders held on 1 June 2026, the proposals for the share consolidation and partial amendments to the Articles of Incorporation were approved and adopted as originally proposed |
| 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 (21)
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 allottee's holding policyDilution RateExercise 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.The share consolidation will be carried out as part of a series of transactions to reduce the shares held by shareholders other than METAWATER Co.,Ltd. and TORAY INDUSTRIES,INC. to fractional shares of less than 1 share and take the Company's shares private. In addition, after delisting, the shares will no longer be tradable on the exchange, and the total number of issued shares will be 27, so the provisions concerning the number of shares per unit and related matters will be abolished.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.