Addressing Common-Share Conversion and Dividend Burden Through the Acquisition and Cancellation of Class 4 Preferred Shares
First written in FY2017-Q3. 13 of 19 entries say "Advanced", first in FY2019-Q2. Latest entry: 2026-06-23.
The whole theme swung hardest in 2026: 1 of 8 companies on the "Worse" side.
0 other companies' latest entry also says "Advanced".
- 2026-06-23AdvancedTreasury Shares
「Of these, we believe that acquiring the Class 7 Series 2 preferred shares, which have the largest number of shareholders among the preferred shares, ahead of the other preferred shares would be appropriate for advancing an effective capital policy, and the Board of Directors resolved today on the acquisition method and other matters.」
For the Class 7 Series 2 preferred shares, the process advanced from the previous acquisition plan to determining specific execution details, including the number of shares, acquisition price, acquisition method and acquisition date. - FY2026AdvancedAnnual report
「Before the effective date of this share transfer, the bank decided to acquire treasury shares consisting of the other preferred stock in addition to the First Series Class 7 preferred stock acquired and cancelled on 1 April 2026. This is intended to streamline the capital structure ahead of the share transfer.」
In addition, the company indicated a plan to acquire 1,500,000 Class 2 preferred shares, 301,000 Class 2 Series 6 preferred shares and 4,723 Class 2 Series 7 preferred shares, premised on business integration. - FY2026AdvancedAnnual report
「At a meeting of the board of directors held on 10 February 2026, the bank resolved to exercise its cash consideration acquisition clause and acquire all First Series Class 7 preferred stock, and to cancel all such treasury shares under Article 178 of the Companies Act. The transaction was carried out on 1 April 2026.」
The acquisition and cancellation of all 481,500 First Series Class 7 preferred shares was carried out on 1 April 2026. In addition, an acquisition plan was presented for the Class 2 preferred stock, the Second Series Class 6 preferred stock and the Second Series Class 7 preferred stock, covering the period from July 2026 through January 2027. - FY2026-H1AdvancedAnnual report
「The bank believes that acquiring the number of Class 2 preferred shares equivalent to the amount excluded from core capital will reduce the future dividend burden on those preferred shares and thereby help maintain and improve the bank’s financial base and the value of its common stock.」
On 20 October 2025, the bank acquired and cancelled 500,000 Class 2 preferred shares, representing 25% of the total issued shares. This newly implemented measures addressed the amount excluded from core capital and reduced the dividend burden on preferred stock. - FY2025AdvancedAnnual report
「2 May 2024 (Note) 1 △171 65,509 － 62,120 － 6,971 20 August 2024 (Note) 2 △500 65,009 － 62,120 － 6,971」
The acquisition and cancellation of 171,500 First Series Class 7 preferred shares and 500,000 Class 2 preferred shares has been completed. - FY2025-H1AdvancedAnnual report
「2 May 2024 (Note) 1 △171 65,509 － 62,120 － 6,971 20 August 2024 (Note) 2 △500 65,009 － 62,120 － 6,971 (Note) 1. 171 thousand of the First Series Class 7 preferred shares were acquired and cancelled. 2. 500 thousand of the Class 2 preferred shares were acquired and cancelled.」
The bank acquired and cancelled 171 thousand First Series Class 7 preferred shares and 500 thousand Class 2 preferred shares. The capital policy addressing the conversion of preferred stock into common stock and the dividend burden on preferred stock is progressing. - FY2024-Q2AdvancedAnnual report
「13 September 2023 (Note): 500 thousand of the Class 2 preferred shares were acquired and cancelled.」
The acquisition and cancellation of 500 thousand Class 2 preferred shares was carried out on 13 September 2023. The capital policy addressing the conversion of preferred stock into common stock and the dividend burden on preferred stock is progressing. - FY2022AchievedAnnual report
「1 March 2022 (Note): All First Series Class 6 preferred stock acquired and cancelled 10 March 2022: 500 thousand Class 2 preferred shares acquired and cancelled」
The acquisition and cancellation of the 600 thousand First Series Class 6 preferred shares planned in the previous filing was carried out on 1 March 2022. The acquisition and cancellation of 500 thousand Class 2 preferred shares was also completed in the same month. - FY2022-Q3AdvancedAnnual report
「The purpose is to avoid future conversion into common stock through the acquisition of all First Series Class 6 preferred stock, reduce the future dividend burden on that preferred stock, and thereby help maintain and improve the bank’s financial base and the value of its common stock.」
The bank resolved to acquire and cancel all 600,000 First Series Class 6 preferred shares for a total of ¥12,302.88 million, with the transaction scheduled for 1 March 2022. Proceeds from the issuance of the Second Series Class 6 preferred stock were to be used to fund the acquisition. - FY2021-Q3AdvancedAnnual report
「At a meeting of the board of directors held on 27 January 2021, the bank resolved matters relating to the acquisition of treasury shares consisting of part of its Class 2 preferred stock under Article 459, Paragraph 1 of the Companies Act and Article 16, Paragraph 2 of the bank’s Articles of Incorporation, and the cancellation of those treasury shares under Article 178 of the Companies Act. The transaction was carried out on 5 February 2021.」
500,000 Class 2 preferred shares were acquired and cancelled on 5 February 2021. The total acquisition price was ¥2 billion, with the aim of addressing the amount excluded from core capital, reducing the dividend burden on preferred stock, and maintaining and improving the financial base and the value of common stock. - FY2020-Q3AdvancedAnnual report
「At a meeting of the board of directors held on 27 December 2019, the bank resolved matters relating to the acquisition of treasury shares consisting of part of its Class 2 preferred stock under Article 459, Paragraph 1 of the Companies Act and Article 16, Paragraph 2 of the bank’s Articles of Incorporation, and the cancellation of those treasury shares under Article 178 of the Companies Act. The transaction was carried out on 9 January 2020.」
Following the Class 4 preferred stock, 500,000 Class 2 preferred shares were acquired and cancelled. The total acquisition price was ¥2 billion, with the aim of reducing the dividend burden on preferred stock and maintaining and improving the financial base and the value of common stock. - FY2020-Q2AchievedAnnual report
「The Class 4 preferred stock under “dividend per share” is not applicable from the 97th fiscal period (March 2019) onward, as all such shares were acquired and cancelled on 20 March 2019.」
The acquisition and cancellation of all Class 4 preferred stock was completed on 20 March 2019. - FY2019-Q3RestatedAnnual report
「(5) Use of proceeds: A portion is scheduled to be used to fund the acquisition of Class 4 preferred stock, with the remainder allocated to working capital for loans and other purposes.」
The plan to use a portion of the proceeds from the First Series Class 7 preferred stock to fund the acquisition of Class 4 preferred stock is restated. Completion of the acquisition was not stated. - FY2019-Q2AdvancedAnnual report
「Use of proceeds: A portion is scheduled to be used to fund the acquisition of Class 4 preferred stock, with the remainder allocated to working capital for loans and other purposes.」
A plan was presented to use a portion of the proceeds expected from the issuance of the First Series Class 7 preferred stock to fund the acquisition of Class 4 preferred stock. Completion of the acquisition itself was not stated. - FY2017-Q3First statedAnnual report
「The purpose is to partially avoid the future conversion of Class 4 preferred stock into common stock through the partial acquisition of Class 4 preferred stock, reduce the future dividend burden on that preferred stock, and thereby help maintain and improve the bank’s financial base and the value of its common stock.」
A resolution was passed on 28 December 2016, and 1,750,000 shares, or 27.3% of the total issued Class 4 preferred stock, were acquired and cancelled on 2 February 2017. The total acquisition price was ¥9,074 million.