Potential dilution from the conversion of Class B preferred shares into common shares
First written in FY2018-Q1. 5 of 8 entries say "Restated". Latest entry: FY2024-Q1.
The whole theme swung hardest in 2025: 2 of 10 companies on the "Worse" side.
4 other companies' latest entry also says "Mitigated".
- FY2024-Q1MitigatedAnnual report
「As all Class B preferred shares were acquired and cancelled pursuant to a resolution of the Board of Directors dated 24 February 2023, there are no dividends relating to the Class B preferred shares.」
All Class B preferred shares were acquired and cancelled, eliminating the potential dilution from their conversion into common shares. - FY2022-Q2MitigatedAnnual report
「The 12,500 thousand-share decrease in issued Class B preferred shares resulted from the cancellation of treasury shares.」
The Company acquired and cancelled 12,500 thousand Class B preferred shares, halving the outstanding preferred shares subject to potential dilution from conversion into common shares. - FY2020-Q3RestatedAnnual report
「Class B preferred shares carry acquisition rights exercisable in exchange for the Company's common shares. The number of common shares delivered as consideration for the acquisition rights attached to the Class B preferred shares is determined, or may be adjusted, based on the closing price of the Company's common shares over a specified period. If the Company's share price declines, the number of common shares delivered as consideration for the acquisition rights may increase.」
The Company continues to disclose the terms of the acquisition rights and the potential for the number of common shares delivered to increase, and for dilution to occur, if the price of the Class B preferred shares declines. - FY2020-Q2RestatedAnnual report
「Class B preferred shares carry acquisition rights exercisable in exchange for the Company's common shares. The number of common shares delivered as consideration for the acquisition rights attached to the Class B preferred shares is determined, or may be adjusted, based on the closing price of the Company's common shares over a specified period. If the Company's share price declines, the number of common shares delivered as consideration for the acquisition rights may increase.」
The Company continues to disclose the terms of the acquisition rights and the potential for the Class B preferred shares to be converted into common shares, resulting in share-price-linked dilution. - FY2019RestatedAnnual report
「Class B preferred shares carry acquisition rights exercisable in exchange for the Company's common shares. The number of common shares delivered as consideration for the acquisition rights attached to the Class B preferred shares is determined, or may be adjusted, based on the closing price of the Company's common shares over a specified period. If the Company's share price declines, the number of common shares delivered as consideration for the acquisition rights may increase.」
The Company has reiterated its disclosure of the share-price-linked potential dilution associated with the conversion of Class B preferred shares into common shares. No rights were exercised during the fiscal year either. - FY2018RestatedAnnual report
「Class B preferred shares carry acquisition rights exercisable in exchange for the Company's common shares. The number of common shares delivered as consideration for the acquisition rights attached to the Class B preferred shares is determined, or may be adjusted, based on the closing price of the Company's common shares over a specified period. If the Company's share price declines, the number of common shares delivered as consideration for the acquisition rights may increase.」
The Company has reiterated its disclosure of the share-price-linked potential dilution associated with the conversion of Class B preferred shares into common shares. No rights were exercised during the fiscal year. - FY2018-Q2RestatedAnnual report
「Class B preferred shares carry acquisition rights exercisable in exchange for the Company's common shares. The number of common shares delivered as consideration for the acquisition rights attached to the Class B preferred shares is determined, or may be adjusted, based on the closing price of the Company's common shares over a specified period. If the Company's share price declines, the number of common shares delivered as consideration for the acquisition rights may increase.」
The Company has reiterated its disclosure of the share-price-linked potential dilution and acquisition rights associated with the conversion of Class B preferred shares into common shares. - FY2018-Q1First statedAnnual report
「Class B preferred shares carry acquisition rights exercisable in exchange for the Company's common shares. The number of common shares delivered as consideration for the acquisition rights attached to the Class B preferred shares is determined, or may be adjusted, based on the closing price of the Company's common shares over a specified period. If the Company's share price declines, the number of common shares delivered as consideration for the acquisition rights may increase.」
For the 25,000,000 Class B preferred shares, the Company has disclosed acquisition rights under which the number of common shares delivered may increase depending on the share price, a floor on the acquisition price, a cash acquisition provision applicable from 1 April 2020, and an acquisition request period through 31 March 2025. It does not state that an actual conversion into common shares has occurred.