Enhancing capital-policy flexibility by reducing stated capital
First written in FY2022. 1 of 2 entries say "Achieved", first in FY2023-Q1. Latest entry: FY2023-Q1.
38 other companies' latest entry also says "Achieved".
- FY2023-Q1AchievedAnnual report
「At a meeting of the Board of Directors held on 14 April 2022, the company resolved to submit a proposal to reduce stated capital to the annual shareholders’ meeting scheduled for 27 May 2022, as described below. The proposal was approved at that meeting, and the reduction took effect on 1 July 2022.」
The shareholders’ meeting approved a capital reduction without compensation, reducing stated capital by ¥493,102,100 from ¥503,102,100 to ¥10,000,000. The reduction took effect on 1 July 2022. - FY2022First statedAnnual report
「As part of its management strategy for achieving sustainable growth in sales, profit and corporate value, the company is reducing its stated capital pursuant to Article 447, Paragraph 1 of the Companies Act in order to maintain sound financial condition through the application of an appropriate tax regime suited to its current business scale and to ensure flexibility and agility in its future capital policy.」
Regarding the capital reduction without compensation approved at the shareholders’ meeting in May 2022, the company explained that stated capital would be reduced from ¥503,102,100 to ¥10,000,000 to qualify for the applicable tax treatment and ensure flexibility in its capital policy.