Potential Dilution from the Exercise of Stock Acquisition Rights
First written in FY2019. 10 of 21 entries say "Worsened", first in FY2021-Q2. Latest entry: FY2027-H1.
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
- FY2027-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new major risks or significant changes to the business risks described in the annual securities report that management recognized as potentially having a material effect on the financial position, operating results, or cash flows of the consolidated companies, among the matters concerning business conditions and financial matters described in this Semiannual Report.」
The company states that there have been no material changes in the risk of dilution in per-share value from the exercise of stock acquisition rights. - FY2026MaterialisedAnnual report
「4 July 2025 6,000 9,138,996 252 10,252 252 1,096,196 (Note) Increase due to the exercise of stock acquisition rights.」
During the fiscal year, 6,000 shares were issued upon the exercise of stock acquisition rights, increasing the total number of issued shares, capital and capital surplus. - 2026-04-14WorsenedOccurring Fact
「The number of shares involved in this disposal of treasury shares is 725,021 (7,250 voting rights), equivalent to 7.93% of the 9,138,996 issued shares as of 28 February 2026 and 8.62% of the 84,099 total voting rights as of the same date, resulting in a certain degree of dilution.」
The disposal of 725,021 treasury shares to TKP added a dilution factor equivalent to 7.93% of issued shares and 8.62% of total voting rights. - FY2026-H1MaterialisedAnnual report
「1 March 2025–31 August 2025 (Note) 6,000 9,138,996 252 10,252 252 1,096,196 (Note) Increase due to the exercise of stock acquisition rights.」
During the interim accounting period, 6,000 shares were issued upon the exercise of stock acquisition rights, increasing the total number of issued shares, capital and capital surplus. Part of the potential dilution has materialised through the actual issuance of shares. - FY2025-H1WorsenedAnnual report
「The share acquisition rights issued during the six-month accounting period are as follows: Series 8 share acquisition rights (issued 11 July 2024)」
Share acquisition rights covering 160,000 common shares were issued as the Series 8 share acquisition rights, adding a potential source of dilution. - FY2024MitigatedAnnual report
「As of the date of submission of this document, the number of potential shares attributable to share acquisition rights was 813,100, equivalent to 8.9% of the total 9,132,996 shares issued.」
The percentage of potential shares declined from 11.2% in the previous fiscal year to 8.9%. Potential dilution decreased due to the acquisition and cancellation of the Series 7 share acquisition rights and other factors. - FY2023WorsenedAnnual report
「As of the date of submission of this document, the number of potential shares attributable to share acquisition rights was 1,026,100, equivalent to 11.2% of the total 9,136,600 shares issued.」
The percentage of potential shares relative to total shares issued rose from 10.4% in the previous fiscal year to 11.2%, increasing potential dilution. - FY2023-Q3RestatedAnnual report
「During the first nine months of the fiscal year under review, there were no newly arising matters concerning business and other risks, nor any material changes to the business and other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of dilution in per-share value from the exercise of stock acquisition rights. - FY2023-Q2WorsenedAnnual report
「Series 6 share acquisition rights (issued 7 June 2022)”; “Class, details and number of shares underlying share acquisition rights (shares)* Common shares 600,000”; “Series 7 share acquisition rights (issued 13 June 2022)”; “Class, details and number of shares underlying share acquisition rights (shares)* Common shares 200,000」
The Series 6 and Series 7 share acquisition rights were issued, adding a total of 800,000 potential shares. - FY2023-Q1WorsenedAnnual report
「The share acquisition rights issued during the first quarter accounting period are as follows: Series 5 share acquisition rights (issued 2 May 2022)」
Share acquisition rights covering 144,000 common shares were issued as the Series 5 share acquisition rights, adding a potential source of dilution. The exercise price is ¥737 per share, and the exercise period runs from 15 April 2024 to 14 April 2032. - FY2022Potential dilution percentage declined; partial dilution realizedAnnual report
「As of the date of submission of this document, the number of potential shares attributable to share acquisition rights was 858,000, equivalent to 10.4% of the total 8,268,900 shares issued.」
The percentage of potential shares declined from 21.4% disclosed for the previous fiscal year to 10.4%, while 650,700 shares were delivered through the exercise of the Series 4 share acquisition rights, meaning that part of the potential dilution progressed into actual share issuance. - FY2022-Q3WorsenedAnnual report
「During the third quarter accounting period, the share acquisition rights associated with bonds with share acquisition rights subject to adjustment clauses for the exercise price and other instruments were exercised as follows. For the Series 4 share acquisition rights, 3,873 units of the relevant instruments were exercised during the quarter, resulting in 387,300 shares delivered and ¥733,959 thousand in funds raised. Cumulatively, 502,400 shares have been delivered and ¥911,830 thousand has been raised.」
The exercise of the Series 4 share acquisition rights progressed substantially, resulting in 387,300 shares and ¥733,959 thousand of funding during the quarter, and 502,400 shares and ¥911,830 thousand cumulatively. Potential dilution has progressed into actual share delivery. - FY2022-Q2WorsenedAnnual report
「During the second quarter accounting period, the share acquisition rights associated with bonds with share acquisition rights subject to adjustment clauses for the exercise price and other instruments were exercised as follows. For the Series 4 share acquisition rights, 544 units of the relevant instruments were exercised during the quarter, resulting in 54,400 shares delivered and ¥81,546 thousand in funds raised. Cumulatively, 115,100 shares have been delivered and ¥177,871 thousand has been raised.」
The exercise of the Series 4 share acquisition rights progressed, resulting in the delivery of potentially dilutive shares and funding. Total shares issued stood at 7,658,000 at the end of the quarter. - FY2022-Q1WorsenedAnnual report
「The total number of shares underlying these share acquisition rights was fixed at 880,000 common shares of the Company (11.67% of the Company’s total 7,534,500 shares issued as of 17 March 2021), and the number of allocated shares was fixed at 100.」
The Series 4 share acquisition rights created 880,000 potential shares, equivalent to 11.67% of total shares issued, further increasing potential dilution. - FY2021WorsenedAnnual report
「As of the date of submission of this document, the number of potential shares attributable to share acquisition rights was 1,611,900, equivalent to 21.4% of the total 7,534,500 shares issued.」
The number of potential shares and their percentage of total shares issued increased substantially, and potential dilution of 21.4% was disclosed. - FY2021-Q2WorsenedAnnual report
「Class, details and number of shares underlying share acquisition rights (shares)* Common shares 600,000 (Note) 1」
The Series 3 share acquisition rights issued in August 2020 newly created up to 600,000 potential shares. The exercise conditions include future sales and EBITDA targets. - FY2020Number of potential shares increased; percentage declinedAnnual report
「As of the date of submission of this document, the number of potential shares attributable to share acquisition rights was 261,000, equivalent to 3.49% of the total 7,474,500 shares issued.」
The number of potential shares increased from 89,000 to 261,000, while the percentage of total shares issued declined from 3.58% to 3.49%. - FY2020-Q3RestatedAnnual report
「During the cumulative third quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of dilution in per-share value from the exercise of stock acquisition rights. - FY2020-Q2RestatedAnnual report
「During the cumulative second quarter under review, there were no significant changes in the matters described in this quarterly report regarding the business and accounting conditions that could materially affect investors’ decisions, or in the “Business and Other Risks” described in the securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of dilution in per-share value from the exercise of stock acquisition rights. - FY2020-Q1RestatedAnnual report
「During the cumulative first quarter of the current fiscal year, there were no occurrences of matters concerning the business situation, accounting situation or other matters described in the quarterly report that could have a material impact on investors’ decisions, and no material changes to the “Business and Other Risks” described in the annual securities report for the previous fiscal year.」
The company states that there have been no material changes in the risk of dilution in per-share value from the exercise of stock acquisition rights. - FY2019First statedAnnual report
「As of the date of submission of this document, the number of potential shares attributable to share acquisition rights was 89,000, equivalent to 3.58% of the total 2,489,500 shares issued.」
The company indicates the potential dilution arising from the exercise of share acquisition rights granted to officers and employees in terms of the number of potential shares and the percentage.