Worth reading
39Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Neutral
Direction inferred from the company’s description.Scale
3377178
Reverse stock split of shares into 1 shareWording
Conditional
How definitive the wording is.Details of issuance or disposal
Reverse stock split, abolition of provisions on share units, and partial amendments to the Articles of Incorporation
発行・処分する株式数
Consolidation of 3,377,178 common shares into 1 share. 17,371,308 shares before the effective date and 5 shares after the effective date
Intended allottee
Muninova Holdings Inc. (expected to purchase the shares corresponding to the fractional shares)
発行済株式総数
not applicable (share consolidation)
The dilution rate shows what proportion the newly issued shares represent of the existing shares. The higher the proportion, the more the value and voting rights per share are diluted.
Terms of the stock acquisition rights
Number of Stock Acquisition Rights
As of 12 May 2026, 69 stock acquisition rights, representing 20,700 shares of the Company's stock (these are not newly issued shares subject to the share consolidation for purposes of this document)
Offering structure
Major shareholders after the offering
Muninova Holdings Inc. is expected to be the only major shareholder after completion of the share consolidation and treatment of fractional shares. Ownership percentage: Not disclosed
Stock Split RatioShare consolidation: 3,377,178 shares consolidated into 1 share. Effective date: 14 October 2026 (scheduled)
Basis for determining the amount to be paid
not applicable (share consolidation)
Procedures under the Corporate Code of Conduct
Establishment of an independent special committee and receipt of its report, receipt of a share valuation report from an independent third-party valuation institution, advice from an independent law firm, establishment of an independent review framework, and approval by directors without conflicts of interest
| Item | Details |
|---|---|
| Type of issuance or disposal | Reverse stock split, abolition of provisions on share units, and partial amendments to the Articles of Incorporation |
| Number of shares to be issued or disposed of | Consolidation of 3,377,178 common shares into 1 share. 17,371,308 shares before the effective date and 5 shares after the effective date |
| Intended allottee | Muninova Holdings Inc. (expected to purchase the shares corresponding to the fractional shares) |
| Dilution Rate | not applicable (share consolidation) |
| Total number of issued shares | 17,371,308 shares (before the share consolidation takes effect, after cancellation of 605,292 treasury shares) → 5 shares (after the consolidation takes effect) |
| Basis for determining the amount to be paid | not applicable (share consolidation) |
| Number of Stock Acquisition Rights | As of 12 May 2026, 69 stock acquisition rights, representing 20,700 shares of the Company's stock (these are not newly issued shares subject to the share consolidation for purposes of this document) |
| Stock Split Ratio | Share consolidation: 3,377,178 shares consolidated into 1 share. Effective date: 14 October 2026 (scheduled) |
| Procedures under the Corporate Code of Conduct | Establishment of an independent special committee and receipt of its report, receipt of a share valuation report from an independent third-party valuation institution, advice from an independent law firm, establishment of an independent review framework, and approval by directors without conflicts of interest |
| Major shareholders after the offering | Muninova Holdings Inc. is expected to be the only major shareholder after completion of the share consolidation and treatment of fractional shares. Ownership percentage: Not disclosed |
Items this document does not state (18)
Issue price and disposal priceTotal issue valueAmount of funds to be raisedEstimated issuance expensesSpecific use of fundsPayment dateIntended allottee's holding policyExercise priceExercise periodTransfer restriction periodConditions for lifting transfer restrictionsReason for acquisition without considerationCategories and Number of Persons CoveredTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentMost recent equity financingImpact on Business Performance
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.This will be carried out as part of a two-step acquisition process to make the tender offeror the Company's sole shareholder. The number of shares per unit will be abolished because the total number of issued shares after the share consolidation will be 5, eliminating the need to specify a number of shares per unit.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.