Bringing the Investment Unit to an Appropriate Level and Enabling More Flexible Shareholder Returns Through a Share Consolidation
First written in FY2021-Q1. 1 of 2 entries say "Achieved", first in FY2021-Q2. Latest entry: FY2021-Q2.
- FY2021-Q2AchievedAnnual report
「Effective 1 October 2020, the company consolidated its common shares at a ratio of 1 share for every 5 shares.」
The share consolidation became effective on 1 October 2020 at a ratio of 1 share for every 5 shares, reducing the number of issued shares from 145,804,736 to 29,160,947. The capital policy procedures aimed at optimizing the investment unit and enabling flexible shareholder return measures in the future were completed. - FY2021-Q1First statedAnnual report
「Our current share price is substantially below the ¥50,000 to ¥500,000 investment unit range considered desirable under the Tokyo Stock Exchange's Rules of Listed Securities. As a result, the percentage change in the share price for each ¥1 movement is relatively large, making the shares prone to substantial price fluctuations as a speculative investment and increasing the impact on general investors. In light of these circumstances, after comprehensive consideration from the perspectives of adjusting our share price and investment unit to appropriate levels and achieving an optimal number of issued shares for implementing flexible shareholder return measures in the future, the company decided to consolidate its shares at a ratio of 5 shares into 1 share.」
Following approval at the Annual General Meeting of Shareholders held on 24 June 2020, the company newly disclosed a plan to consolidate 5 shares into 1 share on 1 October 2020. The purpose is to optimize the investment unit and adjust the number of issued shares to enable flexible and responsive shareholder return measures in the future.