Worth reading
77Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
4068
Millions of yen (estimated net proceeds from the entire third-party allotment)Wording
Conditional
How definitive the wording is.Decision and Details
Board of DirectorsChanges to the use and timing of disbursement of proceeds and delayed disclosure
Decision23 October 2026
Period CoveredThe period for disbursement of funds and exercise of stock acquisition rights from April 2026 through March 2028
ImplementationResolution passed on 23 October 2026. The change in the use of proceeds applies to reflect the actual use of funds already disbursed. Measures to prevent recurrence are scheduled to be implemented in the future.
Going forwardThe exercise period for these stock acquisition rights runs through March 2028. Any change, or expected change, in the use of proceeds will be disclosed promptly. Measures to prevent recurrence will be implemented, including establishing a disclosure committee, regularly reporting the use of proceeds to the board of directors, segregating the proceeds in a dedicated account and providing monthly reports.
AmountProceeds from this issuance of new shares: ¥1,000 million. Estimated net proceeds from these stock acquisition rights changed from ¥3,068 million to ¥3,103 million. Estimated net proceeds from the entire third-party allotment: ¥4,068 million. Amount subject to the change in the use of proceeds: ¥405 million. The total amount for the renewable energy business changed from ¥1,200 million to ¥1,165 million.
Quantity / scaleThe exercise proceeds paid in for these stock acquisition rights amount to approximately ¥325 million as of today, and exercise progress is approximately 10% against the total issue amount of ¥3,200 million.
Reason
The proceeds were commingled in an existing ordinary deposit account rather than being segregated, exercise of these stock acquisition rights did not progress because of the stagnant share price, and the need to change the use of proceeds could not be determined in a timely manner.
Impact on Business Performance
The impact on the Company's financial results is expected to be minor.
| Item | Details |
|---|---|
| Matter Covered | Changes to the use and timing of disbursement of proceeds and delayed disclosure |
| Decision-Making Body | Board of Directors |
| Decision Date | 23 October 2026 |
| Implementation Date | Resolution passed on 23 October 2026. The change in the use of proceeds applies to reflect the actual use of funds already disbursed. Measures to prevent recurrence are scheduled to be implemented in the future. |
| Period Covered | The period for disbursement of funds and exercise of stock acquisition rights from April 2026 through March 2028 |
| Amount | Proceeds from this issuance of new shares: ¥1,000 million. Estimated net proceeds from these stock acquisition rights changed from ¥3,068 million to ¥3,103 million. Estimated net proceeds from the entire third-party allotment: ¥4,068 million. Amount subject to the change in the use of proceeds: ¥405 million. The total amount for the renewable energy business changed from ¥1,200 million to ¥1,165 million. |
| Quantity / scale | The exercise proceeds paid in for these stock acquisition rights amount to approximately ¥325 million as of today, and exercise progress is approximately 10% against the total issue amount of ¥3,200 million. |
| Impact on Business Performance | The impact on the Company's financial results is expected to be minor. |
| Reason | The proceeds were commingled in an existing ordinary deposit account rather than being segregated, exercise of these stock acquisition rights did not progress because of the stagnant share price, and the need to change the use of proceeds could not be determined in a timely manner. |
| Governing Rule | TSE rules and practices concerning timely disclosure. The body of the notice refers to the TSE “Timely Disclosure Checklist,” but the specific article number is Not disclosed. |
| Related previous disclosures | 5 March 2026: “Notice Regarding the Issuance of New Shares and the Ninth Series of Stock Acquisition Rights through a Third-Party Allotment and Changes in the Major Shareholder, Largest Shareholder and Other Affiliated Company”; 10 July 2026: “Notice Regarding Changes to the Use and Timing of Disbursement of Proceeds”; 15 July 2026: “Notice Regarding the Execution of an Individual Agreement with 株式会社グローバルクラウドエステート and Fundraising through the Real Estate Crowdfunding Platform ‘CAMEL’”; 14 August 2026: “Notice Regarding the Judgment in the Lawsuit” |
| Future plans | The exercise period for these stock acquisition rights runs through March 2028. Any change, or expected change, in the use of proceeds will be disclosed promptly. Measures to prevent recurrence will be implemented, including establishing a disclosure committee, regularly reporting the use of proceeds to the board of directors, segregating the proceeds in a dedicated account and providing monthly reports. |
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The stated reasons were that the proceeds were not segregated in a dedicated account and were commingled with operating funds in an existing ordinary deposit account, that the stagnant share price prevented the stock acquisition rights from being exercised as planned, making it necessary to allocate the proceeds from the new shares to the funding needs of each business, and that the need to disclose the change in the use of proceeds could not be determined in a timely manner.
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