Risk of Reduced Stock Liquidity After Listing
First written in FY2024. 3 of 4 entries say "Mitigated", first in FY2025-H1. Latest entry: FY2026-H1.
The whole theme swung hardest in 2025: 14 of 50 companies on the "Worse" side.
22 other companies' latest entry also says "Mitigated".
- FY2026-H1MitigatedAnnual report
「Following the sale and other transactions involving the Company's shares by KKR HKE Investment L.P. and Applied Materials Europe B.V., the tradable share ratio was approximately 70.8% as of the filing date of this semiannual report.」
The tradable share ratio increased from approximately 57.1% in the previous fiscal year to approximately 70.8%, further widening the gap above the 35% continued-listing standard. - FY2025MitigatedAnnual report
「The tradable share ratio was approximately 57.1% as of 31 March 2025.」
The tradable share ratio increased from approximately 47.7% in the previous fiscal year to approximately 57.1%, further widening the gap above the 35% continued-listing standard. - FY2025-H1MitigatedAnnual report
「The tradable share ratio was approximately 41.7% as of 31 March 2024, but increased to approximately 47.7% as of 30 September 2024 following the secondary offering of shares held by KKR HKE Investment L.P. and the over-allotment offering, among other transactions.」
Following KKR's secondary offering and other transactions, the tradable share ratio increased from approximately 41.7% to approximately 47.7%, widening the gap above the 35% continued-listing standard. - FY2024First statedAnnual report
「The Tokyo Stock Exchange Prime Market's continued-listing standard for the tradable share ratio is 35%, while the Company's tradable share ratio at the time of its initial listing was approximately 41.7%.」
The filing describes the risk of trading stagnation as the tradable share ratio approaches the 35% continued-listing standard, and cites dialogue with KKR, exercise of stock acquisition rights, and increases in tradable shares through PSUs and RSUs as countermeasures.