Risk of Share Dilution From the Exercise of Stock Acquisition Rights
First written in FY2018. 5 of 9 entries say "Mitigated", first in FY2019. Latest entry: FY2026.
Hirayama Holdings moved to the "Worse" side of this theme in 2026, 5 years after the typical company in this theme (2021).
The whole theme swung hardest in 2017: 28 of 54 companies on the "Worse" side.
32 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「As of 30 June 2026, the total number of potential shares represented by stock acquisition rights was 644,700, equivalent to 7.9% of the total 8,156,400 shares issued.」
The fifth series of stock acquisition rights increased the potential share ratio from 0.4% in the previous fiscal year to 7.9%, expanding the potential for dilution. - FY2026-H1WorsenedAnnual report
「Class, details and number of shares underlying stock acquisition rights※2 Common shares: 644,700 shares」
The company issued stock acquisition rights in the form of the fifth series, underlying 644,700 shares, significantly increasing the potential for dilution from potential shares. - FY2025MitigatedAnnual report
「As of 30 June 2025, the total number of potential shares represented by stock acquisition rights was 28,800, equivalent to 0.4% of the total 8,149,200 shares issued.」
The potential share ratio declined from 2.4% in the previous fiscal year to 0.4%, reducing the scale of the dilution risk from the exercise of stock acquisition rights. The company continues to disclose the potential impact of future grants and exercise. - FY2024MitigatedAnnual report
「As of 30 June 2024, the total number of potential shares represented by stock acquisition rights was 193,600, equivalent to 2.4% of the total 8,040,400 shares issued.」
The potential share ratio declined from 4.9% in the previous fiscal year to 2.4%, reducing the scale of the dilution risk. However, the company continues to disclose the potential impact of future grants and exercise of stock acquisition rights. - FY2023MitigatedAnnual report
「As of 30 June 2023, the total number of potential shares represented by stock acquisition rights was 381,200, equivalent to 4.9% of the total 7,852,800 shares issued.」
The potential share ratio declined from 14.2% in the previous fiscal year to 4.9%, reducing the scale of the dilution risk. However, the company continues to disclose the potential for dilution from the future granting and exercise of stock acquisition rights. - FY2021MitigatedAnnual report
「As of 30 June 2021, the total number of potential shares represented by stock acquisition rights was 511,000, equivalent to 14.2% of the total 3,608,400 shares issued.」
The total number of potential shares decreased from 520,600 in the previous fiscal year to 511,000, while the ratio to total shares issued declined from 14.4% to 14.2%. The company continues to disclose the potential for dilution. - FY2020WorsenedAnnual report
「As of 30 June 2020, the total number of potential shares represented by stock acquisition rights was 520,600, equivalent to 14.4% of the total 3,599,600 shares issued.」
The total number of potential shares increased from 266,300 in the previous fiscal year to 520,600. They represented 14.4% of total shares issued, and the company continues to disclose the risk of dilution from future exercise. - FY2019MitigatedAnnual report
「As of 30 June 2019, the total number of potential shares represented by stock acquisition rights was 266,300, equivalent to 14.8% of the total 1,793,800 shares issued.」
Potential shares decreased from 270,700, or 15.1%, previously to 266,300, or 14.8%, but the company continues to disclose the potential for dilution from the future granting and exercise of stock acquisition rights. - FY2018First statedAnnual report
「As of the filing date, the total number of potential shares represented by stock acquisition rights was 270,700, equivalent to 15.1% of the total 1,789,400 shares issued. If the currently granted stock acquisition rights and any stock acquisition rights granted in the future are exercised, the total number of shares issued will increase, potentially diluting the value of each share.」
The company disclosed the figures of 270,700 potential shares and 15.1% of total shares issued, and for the first time organized the dilution of per-share value and potential impact on share price formation from the exercise of stock acquisition rights as a risk.