Failure to Meet Prime Market Listing Maintenance Criteria and Plan Execution Risk
First written in FY2022-Q1. 2 of 5 entries say "Advanced", first in FY2022-Q2. Latest entry: FY2023.
The whole theme swung hardest in 2025: 1 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Other".
- FY2023Improvement in the free-float ratio and continued failure to meet the 35% criterionAnnual report
「As of the end of March 2023, the ratio was 34.5%, falling just short of 35%.」
The free-float ratio improved from approximately 10.6% before the secondary offering to 34.5% through the secondary offering and the acquisition and cancellation of treasury shares, but it still fell short of the Prime Market's 35% listing maintenance criterion. - FY2022RestatedAnnual report
「Although we do not meet the Prime Market listing maintenance criterion requiring a free-float ratio of at least 35%, we transferred to the Prime Market on 4 April 2022 by submitting and disclosing a plan for compliance with the listing maintenance criteria for the new market segments on 12 November 2021 and applying transitional measures.」
Although the failure to meet the free-float ratio criterion of at least 35% continues, the company achieved its transfer to the Prime Market through the plan and transitional measures. The risk to continued listing if the plan's targets are not achieved remains. - FY2022-Q3AdvancedAnnual report
「In response, on 12 November of the same year we submitted and disclosed a plan for compliance with the listing maintenance criteria for the new market segments and other documents. On 11 January 2022, it was decided that, effective 4 April of the same year, we would transfer to the Prime Market under transitional measures.」
In response to the risk of failing to meet the free-float ratio criterion of at least 35%, it was decided that the company would transfer to the Prime Market under transitional measures, in addition to submitting the plan. The risk to continued listing if the plan's targets are not achieved remains. - FY2022-Q2AdvancedAnnual report
「On 12 November 2021, we applied to transfer to the Prime Market and submitted and disclosed a plan for compliance with the listing maintenance criteria for the new market segments and other documents.」
To address the risk of failing to meet the free-float ratio criterion of at least 35%, the company applied to transfer in order to use transitional measures and submitted the plan. The risk that the listing may not be maintained if the plan's targets are not achieved remains. - FY2022-Q1First statedAnnual report
「We did not meet the Prime Market listing maintenance criterion requiring a free-float ratio of at least 35%. During the transitional period, we must comply with and make appropriate progress on the matters set out in the plan. If we fail to comply with the plan, our listing may no longer be maintained.」
The company disclosed as a new risk that the Tokyo Stock Exchange had determined that it failed to meet the criterion, that compliance with and progress on the plan are required, and that its listing may not be maintained if the target is not achieved.