Reducing retained-earnings tax exposure and preserving shareholder-return options through a capital reduction without refund
First written in FY2023-Q1. 2 of 3 entries say "Achieved", first in FY2023-Q2. Latest entry: FY2023-Q3.
38 other companies' latest entry also says "Achieved".
- FY2023-Q3AchievedAnnual report
「30 June 2023 (Note) 2 — 97,950,200 △16 54 — 5,847」
Following the ¥5,816 million capital reduction on 31 January 2023, the Company completed an additional capital reduction of ¥16 million effective 30 June 2023, leaving stated capital of ¥54 million. - FY2023-Q2AchievedAnnual report
「Based on a resolution at the sixth annual general meeting of shareholders held on 23 December 2022, the Company reduced stated capital by ¥5,816 million effective 31 January 2023 and transferred the entire amount to other capital surplus.」
The Company disclosed that the capital reduction without consideration of ¥5,816 million, with the amount transferred to other capital surplus, was completed effective 31 January 2023. - FY2023-Q1First statedAnnual report
「To reduce the retained earnings tax burden by qualifying as a small or medium-sized corporation under the Corporation Tax Act and secure options for medium- to long-term shareholder returns, the Company is reducing its stated capital pursuant to Article 447, paragraph 1 of the Companies Act. Of the stated capital of ¥5,868 million, ¥5,816 million will be reduced, leaving stated capital of ¥52 million. This is a capital reduction without consideration and without any repayment; the total number of issued shares will remain unchanged, and the entire reduction in stated capital will be transferred to other capital surplus.」
The Company resolved on a capital reduction without consideration, reducing stated capital of ¥5,868 million by ¥5,816 million, effective 31 January 2023. The total number of issued shares and net assets were unchanged, and the reduction was intended to reduce the retained earnings tax burden and secure options for medium- to long-term shareholder returns.