Enhancing shareholder benefits and liquidity through treasury share cancellation and a share split
First written in FY2021-Q1. 1 of 2 entries say "Achieved", first in FY2021-Q2. Latest entry: FY2021-Q2.
- FY2021-Q2AchievedAnnual report
「Based on a resolution of the Board of Directors meeting held on 31 July 2020, the company conducted a stock split and partial amendments to its Articles of Incorporation effective 1 October 2020. It also cancelled 2,000,000 treasury shares effective 18 August 2020.」
The company cancelled 2 million treasury shares and conducted a 2-for-1 stock split effective 1 October 2020. - FY2021-Q1First statedAnnual report
「We will cancel treasury shares in order to increase shareholder value by reducing the total number of shares issued. … Total shares to be cancelled: 2,000,000 shares (4.52% of the total shares issued before the cancellation) … Effective 30 September 2020 (Wednesday), we will conduct a 2-for-1 stock split for each share held by shareholders listed or recorded in the final shareholder register on that date. … The purpose of the stock split is to lower the investment amount per unit, increase liquidity, and further broaden the investor base.」
The company decided to cancel 2 million treasury shares (4.52% of shares issued before the cancellation) and conduct a 2-for-1 stock split. The treasury share cancellation is intended to increase shareholder value, while the stock split is intended to lower the investment amount per unit, increase liquidity and broaden the investor base.