Risk of Breaching the Listed Market Capitalization Requirement
First written in FY2016. 3 of 10 entries say "Materialised", first in FY2019-Q3. Latest entry: FY2021.
The Lead Co. moved to the "Worse" side of this theme in 2018, 8 years before the typical company in this theme (2026).
The whole theme swung hardest in 2022: 2 of 13 companies on the "Worse" side.
9 other companies' latest entry also says "Dropped".
- FY2021DroppedAnnual reportThe current year's Business and Other Risks section does not include the previously disclosed risk of falling below the listed market capitalization threshold.
- FY2021-Q3MitigatedAnnual report
「As the monthly average market capitalization and month-end market capitalization of the Company's shares reached ¥1 billion or more in November 2020, the shares no longer fell under the delisting criteria prescribed by the Tokyo Stock Exchange, and the designation placing them in the grace period was lifted.」
The monthly average market capitalization and month-end market capitalization reached ¥1 billion or more in November 2020, resolving the breach of the delisting criteria and lifting the designation placing the shares in the grace period. - FY2020-Q3MaterialisedAnnual report
「The Company's shares fell below the delisting threshold in December 2018 when both the monthly average market capitalization and month-end market capitalization were less than ¥1 billion. Although both reached ¥1 billion or more in June 2019 and the grace period relating to market capitalization was lifted, they again fell below ¥1 billion in August 2019. The Company submitted the above document to the Tokyo Stock Exchange in November 2019.」
The breach of the market capitalization threshold recurred in August 2019, and the Company submitted the document to the Tokyo Stock Exchange in November 2019. The breach and the related response actually occurred. - FY2020-Q2MaterialisedAnnual report
「The Company's shares fell below the delisting threshold in December 2018 when both the monthly average market capitalization and month-end market capitalization were less than ¥1 billion. Although both reached ¥1 billion or more in June 2019 and the grace period relating to market capitalization was lifted, they again fell below ¥1 billion in August 2019. The Company therefore plans to submit the above document to the Tokyo Stock Exchange by the end of November 2019.」
The breach of the delisting criteria, which had temporarily been resolved in June 2019, recurred in August 2019. The Company also indicated that it planned to submit the document by the end of November. - FY2020-Q1MitigatedAnnual report
「As the monthly average market capitalization and month-end market capitalization of the Company's shares reached ¥1 billion or more in June 2019, the shares no longer fell under the delisting criteria prescribed by the Tokyo Stock Exchange, and the designation placing them in the grace period was lifted.」
The monthly average market capitalization and month-end market capitalization reached ¥1 billion or more, resolving the breach of the delisting criteria and lifting the designation placing the shares in the grace period. - FY2019WorsenedAnnual report
「As of 27 June 2019, the Company was in the grace period for delisting. If the monthly average market capitalization and month-end market capitalization do not reach ¥1 billion or more by September 2019, the shares will be delisted.」
The breach of the market capitalization threshold continued, and the disclosure specifically states the grace period through September 2019 and the resulting delisting if the threshold is not restored. - FY2019-Q3MaterialisedAnnual report
「As the monthly average market capitalization and month-end market capitalization of the Company's shares were less than ¥1 billion in December 2018, the Company plans to submit the above document to the Tokyo Stock Exchange by the end of March 2019.」
The monthly average market capitalization and month-end market capitalization fell below ¥1 billion, resulting in an actual breach of the delisting criteria. The Company plans to submit a document describing the current state of its business and other matters by the end of March 2019. - FY2018ReframedAnnual report
「If the share price remains below ¥380 due to deterioration in the Company's financial condition or operating results, or for any other reason, there is a risk of falling under the delisting criteria.」
To reflect the post-share-consolidation threshold, the disclosed share-price level that would trigger the delisting criteria was updated from ¥76 to ¥380. - FY2017RestatedAnnual report
「If the share price remains below ¥76 due to deterioration in the Company's financial condition or operating results, or for any other reason, there is a risk of falling under the delisting criteria.」
The disclosure continues to identify the ¥1 billion listed market capitalization threshold and the risk of falling under the delisting criteria if the share price remains below ¥76. - FY2016First statedAnnual report
「The rules provide that a company will be delisted if its listed market capitalization is less than ¥1 billion. If the share price remains below ¥76 due to deterioration in the Company's financial condition or operating results, or for any other reason, there is a risk of falling under the delisting criteria.」
The disclosure states the ¥1 billion listed market capitalization threshold and the possibility of falling under the delisting criteria if the share price remains below ¥76.