Growth Incentives Through Stock Acquisition Rights Subject to Revenue and EBITDA Conditions
First written in FY2021-Q2. 2 of 4 entries say "Reframed", first in FY2023-Q2. Latest entry: FY2025-H1.
Shikigaku. moved to the "Worse" side of this theme in 2024.
0 other companies' latest entry also says "Reframed".
- FY2025-H1ReframedAnnual report
「(b) If, in a fiscal year ending after the allotment date, net income attributable to owners of the parent reported in the securities report exceeds by more than 10% the ¥37 million net income attributable to owners of the parent in the consolidated earnings forecast for the fiscal year ending February 2025, and the share price at the end of February 2025 exceeds by more than 10% the ¥501 share price at the end of February 2024, up to 25% of the total number of allotted subscription rights to shares.」
For the newly issued eighth series of subscription rights to shares, the framework was changed from revenue and operating income conditions to vesting of 25% to 100% based on net income attributable to owners of the parent and the rate of share price appreciation. - FY2023-Q2ReframedAnnual report
「(1) If, in any fiscal year through the fiscal year ending February 2026, revenue reported in the consolidated income statement included in the company's securities report exceeds ¥11,000 million and operating income calculated based on that consolidated income statement exceeds ¥1,500 million.」
After cancelling the previous third series of subscription rights to shares, the company established a performance-linked plan for the seventh series, subject to revenue of ¥11,000 million and operating income of ¥1,500 million by the fiscal year ending February 2026. - FY2022DroppedAnnual report
「Following the change in management strategy, the company no longer expects to meet the operating income condition among the performance conditions established for exercising these subscription rights to shares. Accordingly, it decided to acquire the subscription rights to shares without consideration and cancel them.」
The company acquired and cancelled all 6,000 of the third series of subscription rights to shares subject to revenue and EBITDA conditions, as the change in management strategy made it unlikely that the operating income condition would be met. - FY2021-Q2First statedAnnual report
「(a) If, in any fiscal year from the fiscal year ending February 2022 through the fiscal year ending February 2023, consolidated revenue reported in the consolidated income statement included in the company's securities report exceeds ¥4,400 million and EBITDA calculated based on that consolidated income statement exceeds ¥1,000 million: exercisable percentage 40%\n(b) If cumulative EBITDA for the fiscal years ending February 2023 and February 2024, calculated based on the consolidated income statements included in the company's securities reports, exceeds ¥2,500 million: exercisable percentage 60%」
For the trust-type subscription rights to shares issued in August 2020, performance conditions of revenue of ¥4,400 million, EBITDA of ¥1,000 million and cumulative EBITDA of ¥2,500 million were established, along with exercise conditions covering the fiscal years ending February 2022 through February 2024.