Strengthening the Financial Position by Reducing Capital Reserve and Covering Accumulated Deficit
First written in FY2017-Q1. 1 of 2 entries say "Achieved", first in FY2017-Q2. Latest entry: FY2017-Q2.
- FY2017-Q2AchievedAnnual report
「Based on a resolution at the annual general meeting of shareholders held on 29 June 2016, the deficit was eliminated on 3 August 2016. Capital reserves of ¥1,316.229 million were reduced and transferred to other capital surplus, of which ¥798.470 million was transferred to retained earnings carried forward.」
The company specified that the reduction of capital reserves and elimination of the deficit carried forward were completed on 3 August, completing the procedures described in the previous quarter. - FY2017-Q1First statedAnnual report
「To eliminate this deficit carried forward, promptly strengthen our financial position and prepare for agile and flexible capital policies going forward, we will reduce the entire amount of capital reserves pursuant to Article 448, Paragraph 1 of the Companies Act, then dispose of surplus pursuant to Article 452 of the Companies Act to create distributable amounts.」
The company resolved to reduce capital reserves by ¥1,316.229 million and use ¥798.470 million of other capital surplus to eliminate the deficit carried forward, with the reduction taking effect on 3 August 2016.