Dilution Risk from Stock Acquisition Rights and Restricted Stock Compensation
First written in FY2021. 14 of 18 entries say "Materialised", first in FY2022-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
- FY2026Lower percentage of potential shares outstanding and continued grantsAnnual report
「In addition, as of the end of the consolidated fiscal year, the number of potential shares from stock acquisition rights was 154,640, equivalent to 2.6% of the total number of issued shares of 5,953,358.」
While the potential share ratio fell from 4.2% at the end of the previous fiscal year to 2.6%, 6,860 shares were issued through the exercise of stock acquisition rights and 8,546 shares through restricted stock compensation during the period, and 45,300 Series 7 stock acquisition rights were also granted. - FY2026-H1MaterialisedAnnual report
「(Series 7 Stock Acquisition Rights) 8 July 2025 Board of Directors resolution Categories and numbers of eligible grantees (people) Directors of the Company 4 Executive officers of the Company 3 Employees of the Company and its subsidiaries 45 Number of stock acquisition rights (units)* 45,300 (Note) 1」
The 45,300 Series 7 stock acquisition rights were granted to directors, executive officers, and employees of the Company and its subsidiaries, adding a potential source of dilution. - FY2025Lower percentage of potential shares outstanding and continued grantsAnnual report
「In addition, as of the end of the consolidated fiscal year, the number of potential shares from stock acquisition rights was 248,200, equivalent to 4.2% of the total number of issued shares of 5,937,952.」
While the potential share ratio fell from 4.7% at the end of the previous fiscal year to 4.2%, 49,600 Series 6 stock acquisition rights were granted and stock acquisition rights were exercised during the period, so dilution factors continued. - FY2025-H1MaterialisedAnnual report
「(Series 6 Stock Acquisition Rights) 18 July 2024 Board of Directors resolution Number of stock acquisition rights (units)* 49,600 (Note) 1 Class, description and number of shares underlying the stock acquisition rights (shares)* Common shares 49,600 (Note) 1」
The issuance of 49,600 Series 6 stock acquisition rights added a potential source of dilution. - FY2024SoftenedAnnual report
「In addition, as of the end of the consolidated fiscal year, the number of potential shares from stock acquisition rights was 273,020, equivalent to 4.7% of the total number of issued shares of 5,868,235.」
The number of potential shares was 273,020 and the ratio to total issued shares was 4.7%, down from 332,940 shares and 5.7% in the previous fiscal year. Meanwhile, share issuances through the exercise of stock acquisition rights and share-based compensation continued. - FY2024-Q3MaterialisedAnnual report
「1 October 2023–31 December 2023 15,800 5,864,195 323 748,183 323 736,683 (Note) The increase was due to the exercise of stock acquisition rights.」
The exercise of stock acquisition rights during the third quarter increased the number of shares by 15,800. In addition, 42,000 Series 5 stock acquisition rights were granted to 27 employees, indicating the occurrence and addition of dilution factors. - FY2024-Q2MaterialisedAnnual report
「14 August 2023 (Note) 1 12,355 5,845,355 5,250 747,797 5,250 736,297 1 July 2023–30 September 2023 (Note) 2 3,040 5,848,395 62 747,859 62 736,359」
The number of issued shares increased by 12,355 through restricted stock compensation and by 3,040 through the exercise of stock acquisition rights, resulting in actual dilution factors. - FY2024-Q1MaterialisedAnnual report
「1 April 2023–30 June 2023 (Note) Increase resulting from the exercise of stock acquisition rights.」
The exercise of stock acquisition rights during the first quarter increased the total number of issued shares by 26,200 and increased capital and capital reserves by ¥537 thousand each. - FY2023MaterialisedAnnual report
「In addition, as of the end of the consolidated fiscal year, the number of potential shares from stock acquisition rights was 332,940, equivalent to 5.7% of the total number of issued shares of 5,806,800.」
While the exercise of stock acquisition rights and other actions progressed, it updated the potential dilution of 332,940 shares at the fiscal year-end, equivalent to 5.7% of total issued shares. - FY2023-Q3MaterialisedAnnual report
「1 October 2022–31 December 2022 36,380 5,782,780 745 740,493 745 728,993 (Note) 2. The increase was due to the exercise of stock acquisition rights.」
The exercise of stock acquisition rights during the third quarter increased the total number of issued shares by 36,380. In addition, 5,300 shares were issued as restricted stock compensation, indicating continued dilution. - FY2023-Q2MaterialisedAnnual report
「Number of stock acquisition rights (units)* 154,000 (Note) 1 Exercise period for stock acquisition rights* 1 July 2025 – 30 June 2027」
It discloses the terms and exercise period of 154,000 Series 4 stock acquisition rights. Together with the 2,500-share increase from the exercise of existing stock acquisition rights, it describes the actual occurrence and addition of dilution factors. - FY2023-Q2MaterialisedAnnual report
「1 July 2022–30 September 2022 2,500 5,741,100 51 737,779 51 726,279 (Note) The increase was due to the exercise of stock acquisition rights.」
The exercise of stock acquisition rights during the second quarter increased the total number of issued shares by 2,500 and increased capital and capital reserves by ¥51 thousand each. In addition, the terms of 154,000 Series 4 stock acquisition rights were disclosed, showing an additional potential source of dilution. - FY2023-Q1MaterialisedAnnual report
「1 April 2022–30 June 2022 (Note) The increase was due to the exercise of stock acquisition rights.」
The exercise of stock acquisition rights during the first quarter increased the total number of issued shares by 47,600 and increased capital and capital reserves by ¥975 thousand each. - FY2022MaterialisedAnnual report
「In addition, as of the end of the consolidated fiscal year, the number of potential shares from stock acquisition rights was 299,700, equivalent to 5.3% of the total number of issued shares of 5,691,000.」
As share issuances through the exercise of stock acquisition rights progressed, it updated the number of potential shares at the fiscal year-end and their ratio to total issued shares. - FY2022-Q3MaterialisedAnnual report
「1 October 2021–31 December 2021 66,500 5,680,400 1,363 735,094 1,363 723,594 (Note) 1. This was due to the exercise of stock acquisition rights.」
The exercise of stock acquisition rights during the third quarter increased the total number of issued shares by 66,500 and increased capital and capital reserves by ¥1,363 thousand each. - FY2022-Q2MaterialisedAnnual report
「During the period from 1 October 2021 to 31 October 2021, the exercise of stock acquisition rights increased the total number of issued shares by 38,700, capital by ¥812 thousand, and capital reserves by ¥774 thousand each.」
It states that the exercise of stock acquisition rights resulted in an additional increase in the total number of issued shares and other items during the period before the filing date. - FY2022-Q1MaterialisedAnnual report
「The total number of issued shares increased by 3,900 on 21 July 2021 through the issuance of new shares as restricted stock compensation approved by the Board of Directors on 25 June 2021.」
It describes the actual issuance of 3,900 new shares as restricted stock compensation and the resulting dilution from share-based compensation. - FY2021First statedAnnual report
「As of the date of filing this document, the number of potential shares from stock acquisition rights was 386,200, equivalent to 6.9% of the total number of issued shares of 5,610,000.」
It quantifies the number of potential shares from stock options as 6.9% of total issued shares and indicates the potential dilution of existing shareholder value from future share issuances or disposals.