Risk of dilution of share value due to stock acquisition rights
First written in FY2018. 17 of 23 entries say "Materialised", first in FY2019-Q1. Latest entry: FY2026.
Kowa moved to the "Worse" side of this theme in 2018, 3 years before the typical company in this theme (2021).
The whole theme swung hardest in 2017: 28 of 54 companies on the "Worse" side.
5 other companies' latest entry also says "Other".
- FY2026Continued exercise of rights; lower remaining dilution ratioAnnual report
「As of the end of the consolidated fiscal year ending February 2026, the number of potential shares under stock acquisition rights was 7,500, representing 0.1% of the total 5,032,630 issued shares.」
While 6,660 shares were issued through the exercise of stock acquisition rights during the fiscal year, potential shares at year-end were 7,500 and the dilution rate had declined to 0.1%. - 2026-04-28MaterialisedGeneral Meetings of Shareholders
「Increase in shares during the consolidated fiscal year 6,660 shares」
Shares outstanding increased by 6,660 during the consolidated fiscal year as a result of the exercise of stock acquisition rights. - FY2026-H1MaterialisedAnnual report
「Between 1 September 2025 and 30 September 2025, the number of issued shares increased by 1,680 as a result of the exercise of stock acquisition rights (stock options).」
The increase in the number of issued shares through the exercise of stock acquisition rights continued after the end of the interim accounting period. - FY2025-H1MaterialisedAnnual report
「1 March 2024 to 31 August 2024 (Note 1) 8,910 5,010,490 2,450 57,590 2,450 804,636 (Note) 1. The increase resulted from the exercise of stock acquisition rights. 2. Between 1 September 2024 and 31 October 2024, the total number of issued shares increased by 9,390 shares and capital and capital reserves each increased by ¥2,582 thousand as a result of the exercise of stock acquisition rights (stock options).」
The exercise of stock acquisition rights resulted in the issuance of 8,910 shares during the interim consolidated accounting period and a further 9,390 shares by the filing date, with continuing potential dilution materialising as an actual increase in the number of shares. - FY2024Continued exercise of rights; lower remaining dilution ratioAnnual report
「As of the end of the consolidated fiscal year ended February 2024, the number of potential shares from stock acquisition rights was 95,550, representing 1.9% of the total 5,001,580 issued shares.」
While the number of issued shares continues to increase through the exercise of stock acquisition rights, the percentage of potential shares has declined from 2.3% in the previous fiscal year to 1.9%. - FY2024-Q3MaterialisedAnnual report
「1 September 2023 to 30 November 2023 (Note) 1 10,890 4,997,680 2,994 54,067 2,994 801,114 (Note) 1. The increase resulted from the exercise of stock acquisition rights.」
The exercise of stock acquisition rights increased issued shares by 10,890 during the third quarter, followed by a further increase of 3,900 in December 2023. Dilution continued to materialize. - FY2024-Q2MaterialisedAnnual report
「Between 1 September 2023 and 30 September 2023, the total number of issued shares increased by 10,890 through the exercise of stock acquisition rights (stock options).」
Shares continued to be issued through the exercise of stock acquisition rights after the end of the quarter, with dilution continuing to materialize. - FY2023-Q1MaterialisedAnnual report
「Between 1 June 2022 and 30 June 2022, the total number of issued shares increased by 900 through the exercise of stock acquisition rights (stock options).」
A further 900 shares were issued through the exercise of stock acquisition rights after the end of the quarter, with dilution continuing to materialize. - FY2022Continued exercise of rights; lower remaining dilution ratioAnnual report
「As of the end of the consolidated fiscal year ended February 2022, the number of potential shares from stock acquisition rights was 114,240, representing 2.3% of the total 4,982,890 issued shares.」
While the issuance of shares through the exercise of stock acquisition rights continued, potential shares as a percentage of issued shares declined from 4.4% in the previous fiscal year to 2.3%. - FY2022-Q3MaterialisedAnnual report
「On 15 November 2021, issued shares increased by 547,900 through a public offering of new shares. On 15 December 2021, the total number of issued shares increased by 78,300 through a third-party allotment of new shares.」
In addition to the exercise of stock acquisition rights, the issuance of 547,900 shares through a public offering and 78,300 shares through a third-party allotment advanced potential dilution through an actual increase in issued shares. - FY2022-Q2MaterialisedAnnual report
「Between 1 September 2021 and 30 September 2021, issued shares increased by 1,500 through the exercise of stock acquisition rights (stock options).」
Issued shares increased by a further 1,500 through the exercise of stock acquisition rights after the end of the quarterly accounting period, with dilution continuing to materialize. - FY2022-Q1MaterialisedAnnual report
「1 March 2021 to 31 May 2021 (Note) The increase resulted from the exercise of stock acquisition rights (stock options).」
The exercise of stock acquisition rights increased issued shares by 7,740 in the first quarter, with dilution continuing to materialize. - FY2021-Q2MaterialisedAnnual report
「This was mainly due to increases of ¥8 million each in share capital and capital surplus through the exercise of stock acquisition rights, as well as ¥150 million in quarterly net income attributable to owners of the parent.」
The exercise of stock acquisition rights increased share capital and capital surplus by ¥8 million each, bringing issued shares to 4,333,770. Dilution continued to materialize. - FY2021-Q1MaterialisedAnnual report
「Between 1 March 2020 and 31 May 2020, issued shares increased by 51,480 through the exercise of stock acquisition rights (stock options).」
The issuance of shares through the exercise of stock acquisition rights continued during the quarter, with further dilution actually materializing. - FY2020Continued exercise of rights; lower remaining dilution ratioAnnual report
「As of the end of the consolidated fiscal year ended February 2020, the number of potential shares from stock acquisition rights was 188,640, representing 4.4% of the total 4,282,290 issued shares.」
The exercise of stock acquisition rights continued, while potential shares as a percentage of issued shares declined from 7.0% in the previous fiscal year to 4.4%. - FY2020-Q3MaterialisedAnnual report
「Between 1 March 2019 and 30 November 2019, issued shares increased by 93,840 through the exercise of stock acquisition rights (stock options).」
The issuance of shares through the exercise of stock acquisition rights continued during the cumulative third quarter, with potential dilution further materializing. - FY2020-Q2MaterialisedAnnual report
「Between 1 March 2019 and 31 August 2019, issued shares increased by 75,060 through the exercise of stock acquisition rights (stock options).」
The issuance of shares through the exercise of stock acquisition rights continued during the quarter, with further dilution materializing. - FY2020-Q1MaterialisedAnnual report
「Between 1 March 2019 and 31 May 2019, issued shares increased by 38,010 through the exercise of stock acquisition rights (stock options).」
The issuance of shares through the exercise of stock acquisition rights continued during the quarter, with further dilution actually materializing. - FY2019Continued exercise of rights; lower remaining dilution ratioAnnual report
「As of the end of the consolidated fiscal year ended February 2019, the number of potential shares from stock acquisition rights was 294,570, representing 7.0% of the total 4,186,260 issued shares. If these stock acquisition rights are exercised, the equity value per share of the Company will be diluted, potentially affecting the market price of the Company's shares.」
The increase in shares through the exercise of stock acquisition rights continued, while the number of potential shares fell from 510,000 to 294,570 and the ratio declined from 12.8% to 7.0%. - FY2019-Q3MaterialisedAnnual report
「Between 1 December 2018 and 31 December 2018, issued shares increased by 10,500 through the exercise of stock acquisition rights (stock options).」
Issued shares increased by a further 10,500 through the exercise of stock acquisition rights after the end of the third-quarter accounting period, with dilution further materializing. - FY2019-Q2MaterialisedAnnual report
「1 June 2018 to 31 August 2018 (Note) The increase resulted from the exercise of stock acquisition rights (stock options).」
The exercise of stock acquisition rights increased issued shares by 147,630 in the second quarter, bringing issued shares to 4,162,260. Part of the potential dilution has further materialized. - FY2019-Q1MaterialisedAnnual report
「Between 1 March 2018 and 31 May 2018, issued shares increased by 42,000 through the exercise of stock acquisition rights (stock options).」
The exercise of stock acquisition rights resulted in the actual issuance of 42,000 shares, with part of the potential dilution risk materializing. - FY2018First statedAnnual report
「As of the end of the consolidated fiscal year ended February 2018, the number of potential shares from stock acquisition rights was 510,000, representing 12.8% of the total 3,972,630 issued shares. If these stock acquisition rights are exercised, the equity value per share of the Company will be diluted, potentially affecting the market price of the Company's shares.」
Potential shares totaled 510,000, or 12.8% of issued shares, with dilution from the exercise of stock acquisition rights identified as a risk.