Dilution of share value through the exercise of stock acquisition rights
First written in FY2018-Q1. 11 of 22 entries say "Worsened", first in FY2021-Q3. Latest entry: FY2026-H1.
FinTech Global moved to the "Worse" side of this theme in 2020, 1 year before the typical company in this theme (2021).
The whole theme swung hardest in 2017: 17 of 34 companies on the "Worse" side.
15 other companies' latest entry also says "Worsened".
- FY2026-H1WorsenedAnnual report
「Stock acquisition rights (stock options) for 2,770 units (277,000 common shares) issued on 24 December 2025 pursuant to a special resolution at the general meeting of shareholders held on 19 December 2025” “During the current interim consolidated accounting period, 28,000 treasury shares were disposed of through the exercise of stock acquisition rights」
New stock acquisition rights covering 277,000 common shares were issued, and 28,000 treasury shares were disposed of during the interim period through the exercise of stock acquisition rights. The addition of potential shares and the resulting dilution are both disclosed. - FY2025-H1WorsenedAnnual report
「Number of stock acquisition rights (units)* 2,315” “Class, description and number of shares underlying the stock acquisition rights (shares)* Common shares 231,500 (Note 1)” “Exercise period* 28 December 2026 to 30 November 2034」
Stock acquisition rights covering 231,500 shares were added for Company employees and subsidiary officers and employees, increasing the number of potential shares in the future. - FY2025-H1WorsenedAnnual report
「Stock acquisition rights (stock options) issued on 24 December 2024 pursuant to a special resolution of the shareholders' meeting held on 19 December 2024: 2,315 rights, representing 231,500 common shares. Consolidated subsidiary: aviner㈱. Stock acquisition rights (stock options) issued on 31 March 2025 pursuant to a special resolution of the shareholders' meeting held on 31 March 2025: 1,164 rights, representing 1,164 common shares.」
New stock acquisition rights covering 231,500 shares at the Company and 1,164 shares at consolidated subsidiary aviner㈱ were issued, increasing the number of potential shares. - FY2024-Q2WorsenedAnnual report
「Resolution date: 9 February 2024. Number of stock acquisition rights: 2,705 (Note 1). Class, description and number of shares underlying the stock acquisition rights: common shares, 270,500 (Note 1).」
Pursuant to the resolution of 9 February 2024, additional share-based compensation stock acquisition rights covering 270,500 common shares were issued to 4 directors, increasing the number of potential shares in the future. - FY2024-Q1WorsenedAnnual report
「Number of stock acquisition rights: 3,295. Class, description and number of shares underlying the stock acquisition rights: common shares, 329,500. Exercise period for the stock acquisition rights: 28 December 2025 to 30 November 2033.」
New stock acquisition rights covering 329,500 common shares were issued, adding to the number of potential shares in the future. - FY2023WorsenedAnnual report
「New share-based compensation stock acquisition rights covering 202,500 shares were issued, and the number of shares increased by 10,000 through the exercise of stock acquisition rights during the consolidated fiscal year.」
The disclosure covers the additional issuance of share-based compensation stock acquisition rights covering 202,500 shares and the increase of 10,000 shares through exercise, indicating both future and actual dilution. - FY2023-Q2WorsenedAnnual report
「Resolution date: 9 February 2023. Number of stock acquisition rights: 2,025. Class, description and number of shares underlying the stock acquisition rights: common shares, 202,500.」
New share-based compensation stock acquisition rights covering 202,500 shares were issued, adding to the number of potential shares in the future. - FY2023-Q1WorsenedAnnual report
「Stock acquisition rights (stock options) issued on 27 December 2022 pursuant to a special resolution of the shareholders' meeting held on 22 December 2022: 2,625 rights, representing 262,500 common shares. 1 October 2022 to 31 December 2022 (Note): 10,000. Note: The increase resulted from the exercise of stock acquisition rights.」
New stock options covering 262,500 shares were issued, and the number of shares increased by 10,000 through the exercise of stock acquisition rights during the quarter. Both the addition of potential shares and actual share issuance were disclosed. - FY2022MaterialisedAnnual report
「During the consolidated fiscal year, the number of shares increased by 179,600 through the exercise of stock options. 26 May 2022. Number of stock acquisition rights: 1,675. Class, description and number of shares underlying the stock acquisition rights: common shares, 167,500.」
The actual issuance of 179,600 shares through the exercise of stock acquisition rights occurred, and new share-based compensation stock acquisition rights covering 167,500 shares were also issued. The disclosure covers both realized dilution and the addition of potential shares. - FY2022-Q3WorsenedAnnual report
「Number of stock acquisition rights: 1,675. Class, description and number of shares underlying the stock acquisition rights: common shares, 167,500.」
New stock acquisition rights covering 167,500 shares were issued, adding to the number of potential shares in the future. - FY2022-Q1WorsenedAnnual report
「Number of stock acquisition rights: 1,815. Class, description and number of shares underlying the stock acquisition rights: common shares, 181,500. 1 October 2021 to 31 December 2021 (Note): 179,600. Note: The increase resulted from the exercise of stock acquisition rights.」
New stock acquisition rights covering 181,500 shares were issued, and 179,600 shares were issued through the exercise of stock acquisition rights during the quarter. Both future potential shares and actual share issuance were disclosed. - FY2021MaterialisedAnnual report
「1 October 2020 to 30 September 2021 (Note): 1,000. Between 1 October 2021 and 30 November 2021, the number of shares increased by 3,000 through the exercise of stock acquisition rights.」
During the fiscal year, 1,000 shares were issued, and a further 3,000 shares were issued through the exercise of stock acquisition rights between October and November 2021 before the filing date, resulting in additional dilution. - FY2021-Q3WorsenedAnnual report
「Number of stock acquisition rights: 1,945 (Note 1). Class, description and number of shares underlying the stock acquisition rights: common shares, 194,500 (Note 1). Series 4 stock acquisition rights (share-based compensation). Number of stock acquisition rights: 2,877. Class, description and number of shares underlying the stock acquisition rights: common shares, 287,700.」
The disclosure added 1,945 stock options covering 194,500 shares issued in April 2021 and 2,877 share-based compensation stock acquisition rights covering 287,700 shares, increasing the number of potential shares in the future. - FY2021-Q1MaterialisedAnnual report
「1 October 2020 to 31 December 2020 (Note): 1,000. Note: The increase resulted from the exercise of stock acquisition rights.」
During the first quarter, 1,000 shares were issued through the exercise of stock acquisition rights, resulting in additional dilution of shareholder value. - FY2020-Q1MaterialisedAnnual report
「1 October 2019 to 31 December 2019: 5,000; 201,114,600. Note: The increase resulted from the exercise of stock acquisition rights.」
During the first quarter, 5,000 shares were issued through the exercise of stock acquisition rights, resulting in additional dilution. - FY2019MitigatedAnnual report
「As of 23 December 2019, the number of potential shares represented by stock acquisition rights (stock options) was 405,700 against 201,114,600 issued shares. This includes rights without a dilutive effect, and represented 0.2% of issued shares.」
During the period, 15,000,000 shares were issued through the exercise of the Series 19 stock acquisition rights and other instruments, reducing potential shares represented by stock options to 0.2% of issued shares as of the filing date. - FY2019-Q3MitigatedAnnual report
「As of 14 August 2019, the number of potential shares represented by stock acquisition rights (stock options) was 620,400 against 201,109,600 issued shares. This includes rights without a dilutive effect, and represented 0.3% of issued shares.」
The possibility of dilution through the exercise of stock acquisition rights continues to be disclosed, while the potential shares represented by stock options disclosed as of the filing date totaled 620,400, or 0.3% of issued shares. - FY2019-Q2MaterialisedAnnual report
「Number of stock acquisition rights with a price-adjustment clause exercised during the accounting period: 120,000. Shares delivered in connection with exercises during the accounting period: 12,000,000 shares. Funds raised through exercises during the accounting period: ¥1,514.070 million.」
During the quarter, 12,000,000 shares were delivered through the exercise of 120,000 stock acquisition rights, raising ¥1,514.070 million. Cumulatively, 15,000,000 shares had been delivered, with the dilution risk progressing as share issuance. - FY2019-Q1MaterialisedAnnual report
「Number of stock acquisition rights with a price-adjustment clause exercised during the accounting period: 30,000. Shares delivered in connection with exercises during the accounting period: 3,000,000 shares. Between the end of the accounting period and 14 February 2019, part of the Series 19 stock acquisition rights (third-party allotment) was exercised. Class and number of shares issued: common shares, 8,224,500 shares.」
The exercise of the Series 19 stock acquisition rights and other instruments resulted in the delivery of 3,000,000 shares during the quarter and an additional 8,224,500 shares by the filing date, with the dilution risk progressing as actual share issuance. - FY2018-Q3MaterialisedAnnual report
「In addition, to raise funds for construction of Metsä Village and investments in other facilities, we issued 240,000 stock acquisition rights with a price-adjustment clause, representing 24,000,000 potential shares, on 12 January 2018, with Barclays Bank PLC as the allottee. All of the rights had been exercised by 10 August 2018.」
The Series 18 stock acquisition rights issued to raise funds for investments in Metsä and other projects, totaling 240,000 rights and representing 24,000,000 potential shares, were fully exercised by 10 August 2018. The dilution risk materialized as an increase in issued shares, and the stock acquisition rights ceased to exist. - FY2018-Q2MaterialisedAnnual report
「During the current second-quarter accounting period, stock acquisition rights relating to bonds with stock acquisition rights with a price-adjustment clause and other instruments were exercised as follows. Shares delivered in connection with exercises during the accounting period: 6,021,200 shares. The total represented 7.5% of issued shares.」
The exercise of the Series 18 stock acquisition rights resulted in the delivery of 6,021,200 shares and raised ¥563.286 million. The disclosed potential shares represented by stock acquisition rights totaled 7.5% of issued shares, and the dilution risk materialized as actual share issuance. - FY2018-Q1First statedAnnual report
「If these stock acquisition rights are exercised, the value per share may be diluted. As of 14 February 2018, the number of potential shares represented by stock acquisition rights (stock options) was 522,800 against 165,323,700 issued shares, while the number of potential shares represented by stock acquisition rights with a price-adjustment clause was 20,662,700. These figures include rights without a dilutive effect, and together represented 12.8% of issued shares.」
The disclosure states that the exercise and issuance of stock acquisition rights to raise funds for investments related to Metsä could result in potential shares representing 12.8% of total issued shares. By the filing date, part of the Series 18 stock acquisition rights had been exercised, resulting in actual share issuance.