Risk of Suwa becoming the parent company and changes in control
First written in FY2019. 1 of 2 entries say "Dropped", first in FY2020-Q3. Latest entry: FY2020-Q3.
The whole theme swung hardest in 2024: 2 of 6 companies on the "Worse" side.
0 other companies' latest entry also says "Dropped".
- FY2020-Q3DroppedAnnual report
「As no investment had been made by 31 December of the same year, the company resolved at a Board of Directors meeting held on 8 January 2020, after the first 3 quarters of the current consolidated cumulative period, to discontinue the private placement to Suwa and terminated the capital and business alliance agreement with Suwa.」
Following the cancellation of the Suwa private placement and termination of the agreement, the original risk that Suwa would become the parent company and exercise control through a 49.82% voting interest and a majority of the board no longer applied. - FY2019First statedAnnual report
「If 840,000,000 shares of the company’s common stock are issued pursuant to the resolution of the board of directors dated 12 April 2019, Suwa’s voting rights ownership ratio for the company’s common shares, based on the total number of voting rights as of 31 March 2019, is expected to be 49.82%. In addition, the number of director candidates nominated by Suwa is expected to constitute a majority of the company’s board of directors, and Suwa is considered likely to control the company’s decision-making body. Accordingly, Suwa will qualify as the company’s parent company.」
It was disclosed as a new risk that, if the third-party allotment to Suwa is completed, Suwa could become the parent company through a 49.82% voting rights holding and a majority of the board, with potential impacts on business operations and the supply and demand of the shares.