Dilution of share value from stock-option exercises
First written in FY2021. 6 of 14 entries say "Worsened", first in FY2024-Q1. Latest entry: 2026-07-27.
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
- FY2026MaterialisedAnnual report
「The increase in the number of issued common shares consisted of 13,114 shares issued as restricted stock compensation, 1,100 shares issued upon the exercise of stock acquisition rights, and 14,296,737 shares resulting from a stock split.」
1,100 shares were issued upon the exercise of stock acquisition rights, resulting in actual dilution. In addition, 38,000 2025 stock options remain as potential future dilution. - FY2026-H1WorsenedAnnual report
「Number of stock acquisition rights (units) ※ 95 Class, details and number of shares underlying stock acquisition rights (shares) ※ Common shares 9,500 (Note) 1. Exercise period for stock acquisition rights ※ From 23 July 2028 To 22 July 2033」
For the fourth series of stock acquisition rights issued on 23 July 2025, potential future dilution relating to 9,500 common shares has become additionally concrete. - FY2025-H1WorsenedAnnual report
「Number of stock acquisition rights (units) ※ 371 Class, details and number of shares underlying stock acquisition rights (shares) ※ Common shares 37,100 (Note) 1. Exercise period for stock acquisition rights (※) From 25 July 2027 To 24 July 2032」
For the stock acquisition rights issued on 25 July 2024, potential future dilution relating to 37,100 common shares has become additionally concrete. - FY2024MaterialisedAnnual report
「The increase in the number of issued common shares consisted of 178,460 shares issued upon the exercise of stock acquisition rights and 11,121 shares issued as restricted stock compensation.」
During the fiscal year, 178,460 shares were issued upon the exercise of stock acquisition rights. In addition, 54,800 shares were granted as 2023 stock options, leaving potential future dilution. - FY2024-Q3MaterialisedAnnual report
「1 October 2023–31 December 2023 (Note) 178,460 4,739,901 11,064 1,132,267 11,064 1,067,014／(Note) Increase due to the exercise of stock acquisition rights.」
During the third quarter accounting period, 178,460 shares were issued upon the exercise of stock acquisition rights, resulting in actual dilution from stock options. - FY2024-Q1WorsenedAnnual report
「Issue date of share acquisition rights 12 July 2023 Class and number of shares underlying the share acquisition rights (shares) Common shares 54,800 Exercise period for the share acquisition rights From 12 July 2026 to 11 July 2031」
Share acquisition rights for 54,800 common shares were issued on 12 July 2023, making the potential dilution from future exercise specific and quantifiable. This does not state that the rights have been exercised as of the current date. - FY2023RestatedAnnual report
「If these stock options are exercised, new shares in the company will be issued, potentially diluting the value of shares held by existing shareholders and their voting rights percentages.」
The disclosure continues to address the risk of dilution of existing shareholders resulting from the exercise of stock options. - FY2022RestatedAnnual report
「If these stock options are exercised, new shares in the company will be issued, potentially diluting the value of shares held by existing shareholders and their voting rights percentages.」
The disclosure continues to address the risk of dilution of share value and voting rights percentages resulting from the exercise of share acquisition rights. - FY2022-Q3MaterialisedAnnual report
「In addition, during the cumulative third quarter of the current consolidated fiscal year, the exercise of share acquisition rights issued as stock options increased stated capital and capital surplus by ¥11,999 thousand each.」
Share acquisition rights were actually exercised, increasing the total number of shares outstanding by 193,540 during the quarter. This is described as an instance in which the risk of dilution of existing shareholders' share value and voting rights percentages materialized. - FY2021First statedAnnual report
「If these stock options are exercised, new shares in the company will be issued, potentially diluting the value of shares held by existing shareholders and their voting rights percentages.」
The disclosure addresses the potential dilution resulting from stock options granted to officers and employees.