Offsetting Deficits Through Reductions in Stated Capital, Capital Reserves, and Other Items
First written in FY2023-Q1. 1 of 2 entries say "Achieved", first in FY2023-Q2. Latest entry: FY2023-Q2.
- FY2023-Q2AchievedAnnual report
「On 30 June 2022, the company conducted a reduction of capital without compensation. During the cumulative second quarter, stated capital decreased by ¥1,517 million and capital reserves decreased by ¥5,299 million, with the entire reductions transferred to other capital surplus. Following this, the company eliminated the deficit by transferring retained earnings reserves of ¥179 million, general reserves of ¥1,000 million and ¥1,917 million of other capital surplus to retained earnings brought forward.」
The quarterly financial statements disclose as a change that the reduction of capital and capital reserves through the capital reduction without compensation dated 30 June was completed, together with the elimination of the deficit in retained earnings brought forward using retained earnings reserves, general reserves and other funds. - FY2023-Q1First statedAnnual report
「The company will reduce the amounts of stated capital, capital reserves and retained earnings reserves pursuant to Article 447, Paragraph 1 and Article 448, Paragraph 1 of the Companies Act, in order to eliminate the existing deficit in retained earnings brought forward, improve its financial position and secure flexibility in future capital policies.」
The measure was approved at the annual general meeting of shareholders held on 25 May 2022 and took effect on 30 June. The company implemented a capital policy to reduce stated capital of ¥1,517,850,000, capital reserves of ¥5,299,651,693, retained earnings reserves of ¥179,339,000 and general reserves of ¥1,000,000,000, and use other capital surplus and other funds to eliminate the deficit in retained earnings brought forward.