Worth reading
59In focus
Scored from 4 of 5 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
20
% (shortfall in funds raised versus the initial estimate, approximately 20%)Wording
Definitive
How definitive the wording is.Details of issuance or disposal
13th Stock Acquisition Rights issued through a third-party allotment (with an exercise price adjustment clause)
Amount of funds to be raised
Total amount paid in ¥584.522 million; estimated net proceeds of ¥576.102 million (the body of the text also states final funds raised of ¥584 million and net proceeds of ¥576 million)
Estimated issuance expenses
¥8.420 million
Specific use of funds
Preparatory expenses related to launching the new "front-end equipment business"Amount ¥120.248 million / Scheduled timing of expenditures January 2026 to March 2027
Recruitment, training and development of specialized engineers and support personnelAmount ¥29.391 million / Scheduled timing of expenditures January 2026 to January 2027
Promotion and mass-production costs related to the 3 new businesses under developmentAmount ¥42.834 million / Scheduled timing of expenditures January 2026 to December 2026
Other working capitalAmount ¥379.628 million / Scheduled timing of expenditures January 2026 to November 2026
The above item ①; additional expansion work on the cleanroomAmount ¥4 million / Scheduled timing of expenditures November–December 2026
Terms of the stock acquisition rights
Exercise price
The document states that the stock acquisition rights include an exercise price adjustment clause, but the initial exercise price and the floor for adjustments are Not disclosed
Number of Stock Acquisition Rights
Total number issued: Not disclosed; all exercise rights were exercised by 20 October 2026
Most recent equity financing
Timing 26 December 2025 / Type Issuance of the 13th Stock Acquisition Rights (with Exercise Price Adjustment Clause) through a Third-Party Allotment / Amount Initial total amount paid in ¥733 million; estimated net proceeds of ¥724 million
Impact on Business Performance
The impact on consolidated results for the fiscal year ending December 2026 is immaterial. Full-scale development of the semiconductor front-end inspection equipment business is scheduled to begin after March 2027.
| Item | Details |
|---|---|
| Type of issuance or disposal | 13th Stock Acquisition Rights issued through a third-party allotment (with an exercise price adjustment clause) |
| Amount of funds to be raised | Total amount paid in ¥584.522 million; estimated net proceeds of ¥576.102 million (the body of the text also states final funds raised of ¥584 million and net proceeds of ¥576 million) |
| Estimated issuance expenses | ¥8.420 million |
| Specific use of funds | Details Preparatory expenses related to launching the new "front-end equipment business" / Amount ¥120.248 million / Scheduled timing of expenditures January 2026 to March 2027, Details Recruitment, training and development of specialized engineers and support personnel / Amount ¥29.391 million / Scheduled timing of expenditures January 2026 to January 2027, Details Promotion and mass-production costs related to the 3 new businesses under development / Amount ¥42.834 million / Scheduled timing of expenditures January 2026 to December 2026, Details Other working capital / Amount ¥379.628 million / Scheduled timing of expenditures January 2026 to November 2026, Details The above item ①; additional expansion work on the cleanroom / Amount ¥4 million / Scheduled timing of expenditures November–December 2026 |
| Exercise price | The document states that the stock acquisition rights include an exercise price adjustment clause, but the initial exercise price and the floor for adjustments are Not disclosed |
| Number of Stock Acquisition Rights | Total number issued: Not disclosed; all exercise rights were exercised by 20 October 2026 |
| Most recent equity financing | Timing 26 December 2025 / Type Issuance of the 13th Stock Acquisition Rights (with Exercise Price Adjustment Clause) through a Third-Party Allotment / Amount Initial total amount paid in ¥733 million; estimated net proceeds of ¥724 million |
| Impact on Business Performance | The impact on consolidated results for the fiscal year ending December 2026 is immaterial. Full-scale development of the semiconductor front-end inspection equipment business is scheduled to begin after March 2027. |
Items this document does not state (20)
Number of shares to be issued or disposed ofIssue price and disposal priceTotal issue valuePayment dateIntended allotteeIntended allottee's holding policyDilution RateTotal number of issued sharesBasis for determining the amount to be paidExercise periodTransfer restriction periodConditions for lifting transfer restrictionsReason for acquisition without considerationCategories and Number of Persons CoveredTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentStock Split RatioProcedures under the Corporate Code of ConductMajor shareholders after the offering
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 total amount raised through the 13th Series of Stock Acquisition Rights fell short of the initial estimate as the share price changed. In addition, the recovery in capital investment in the consumer and industrial semiconductor sectors has been slower than initially expected, and procurement of construction-related materials has been delayed by geopolitical tensions in the Middle East and changes in the logistics environment. These factors prompted a review of the reuse of existing facilities, optimization of new equipment and construction work, and allocation of funds.
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.