Dilution of Share Value from the Exercise of Stock Acquisition Rights
First written in FY2023. 4 of 9 entries say "Materialised", first in FY2024-Q1. Latest entry: FY2026.
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
- FY2026MitigatedAnnual report
「As of the date of submission of this document, the number of potential shares represented by these stock options was 1,368,900, equivalent to 5.3% of the total 25,736,800 shares issued.」
The potential dilution ratio declined from 5.5% in the previous fiscal year to 5.3%. Meanwhile, 72,600 shares were issued during the fiscal year upon exercise of stock acquisition rights, meaning that part of the potential dilution continues to materialize through actual share issuance. - 2026-08-14MaterialisedRevision of earnings forecasts
「Issuance of new shares (exercise of share acquisition rights)」
The issuance of new shares through the exercise of stock acquisition rights occurred again during the current consolidated fiscal year, and shares outstanding at the fiscal year-end increased from 25,664,200 to 25,736,800. The dilution risk continues to materialize through actual share issuance. - FY2026-H1MaterialisedAnnual report
「Between 1 July 2025 and 31 December 2025, the total number of issued shares increased by 37,600, while stated capital and the capital surplus increased by ¥947 thousand each, as a result of the exercise of stock acquisition rights.」
During the interim accounting period, shares were actually issued through the exercise of stock acquisition rights, increasing the total number of issued shares by 37,600. - FY2025MitigatedAnnual report
「As of the date of filing this document, the number of potential shares represented by these stock options was 1,411,500 shares, equivalent to 5.5% of the total number of issued shares of 25,694,200.」
The potential share ratio declined from 6.4% in the previous fiscal year to 5.5%. Issuance through the exercise of stock acquisition rights continues, but the overall potential dilution from potential shares has declined. - FY2024MitigatedAnnual report
「As of the date of filing this document, the number of potential shares represented by these stock options was 1,629,500 shares, equivalent to 6.4% of the total number of issued shares of 25,479,200.」
The ratio of potential shares declined from 8.3% in the previous disclosure to 6.4%. The company reports the expiration and partial exercise of the 7th through 10th stock acquisition rights, indicating a partial reduction in potential dilution. - FY2024-Q3MitigatedAnnual report
「The 7th stock acquisition rights pursuant to a resolution of the annual general meeting of shareholders held on 29 June 2022 Number of stock acquisition rights 1,003 (Common shares 100,300) Expired on 14 July 2023 The 8th stock acquisition rights pursuant to a resolution of the annual general meeting of shareholders held on 29 September 2022 Number of stock acquisition rights 623 (Common shares 62,300) Expired on 14 July 2023 The 9th stock acquisition rights pursuant to a resolution of the annual general meeting of shareholders held on 10 March 2023 Number of stock acquisition rights 1,286 (Common shares 128,600) Expired on 5 July 2023 The 10th stock acquisition rights pursuant to a resolution of the annual general meeting of shareholders held on 10 March 2023 Number of stock acquisition rights 602 (Common shares 60,200) Expired on 5 July 2023」
The company disclosed that the 7th through 10th stock acquisition rights expired in July 2023, reducing part of the potential dilution from potential shares. - FY2024-Q2MaterialisedAnnual report
「Change in total number of issued shares 25,600 shares (Note) This increase resulted from the exercise of stock acquisition rights.」
Between 1 October 2023 and 31 December 2023, the number of issued shares increased by 25,600 as a result of the exercise of stock acquisition rights, meaning that part of the potential dilution materialized as an additional share issuance. - FY2024-Q1MaterialisedAnnual report
「The increase resulted from the exercise of share acquisition rights.」
During the quarter, the number of issued shares increased by 94,000 as a result of the exercise of stock acquisition rights, meaning that part of the potential dilution risk materialized as an actual increase in shares. - FY2023First statedAnnual report
「As of the date of filing this document, the number of potential shares represented by these stock options was 2,100,500 shares, equivalent to 8.3% of the total number of issued shares of 25,359,600.」
The company grants stock acquisition rights as incentives to officers, employees and others, and discloses the potential dilution of existing shareholders’ share value upon their exercise.