Dilution of Share Value from the Exercise of Stock Acquisition Rights
First written in FY2018. 8 of 14 entries say "Materialised", first in FY2019-Q2. Latest entry: FY2026-H1.
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
- FY2026-H1RestatedAnnual report
「Increase in common shares (shares) － 1,563,721」
The 1,563,721 potential shares related to convertible bonds with stock acquisition rights are reflected in the diluted calculation of interim net income. No new issuance of stock options or other instruments is disclosed. - FY2025-H1WorsenedAnnual report
「Potential shares at the initial conversion price (¥1,279): 1,563,721 shares Potential shares at the floor conversion price (¥1,024): 1,953,125 shares」
The issuance of convertible bonds with stock acquisition rights created approximately 1.56 million potential shares at the initial conversion price and approximately 1.95 million at the floor conversion price, substantially increasing dilution exposure. - FY2024-Q1MaterialisedAnnual report
「Pursuant to a resolution of the Board of Directors at its meeting held on 29 November 2023, the Company issued 84,000 new shares dated 21 December 2023 as restricted stock compensation.」
The actual issuance of 84,000 shares as restricted stock compensation created new dilution exposure for share value. - FY2023MaterialisedAnnual report
「The increase of 2,213,026 in the total number of issued common shares during the consolidated fiscal year resulted from the issuance of new shares upon the exercise of the fourth series of stock acquisition rights.」
The exercise of the fourth series of stock acquisition rights relating to the rights offering resulted in the actual issuance of 2,213,026 shares, with potential dilution materializing as share issuance. - FY2023-Q3WorsenedAnnual report
「At a meeting of the board of directors held on 1 June 2023, the company resolved to conduct a rights offering for all shareholders other than the company itself, through the gratis allotment of listed stock acquisition rights without an underwriting commitment, and to issue its fourth series of stock acquisition rights (hereinafter, the “Stock Acquisition Rights”).」
A resolution was passed for a new gratis allotment of listed stock acquisition rights, creating potential dilution exposure for existing shareholders once again. The payment amount upon exercise is ¥500 per share. - FY2022MitigatedAnnual report
「③ [Status of other stock acquisition rights, etc.] None applicable.」
There were no other stock acquisition rights, etc., at the end of the fiscal year, and exercise of stock acquisition rights issued in the past had been completed. No dilution exposure from new potential shares is shown in this filing. - FY2021-Q2MaterialisedAnnual report
「During the six-month period ended the second quarter of the consolidated fiscal year under review, the Company issued 32,100 new shares upon the exercise of stock acquisition rights.」
During the six-month period ended the second quarter of the consolidated fiscal year under review, 32,100 new shares were issued upon the exercise of stock acquisition rights, with dilution continuing to materialize as actual share issuance. - FY2021-Q1MaterialisedAnnual report
「Number of shares delivered upon exercise during the quarter (shares) 30,100 Cumulative number of shares delivered under the bonds with stock acquisition rights subject to adjustment of the exercise price, etc., as of the end of the quarter (shares) 400,000」
In the first quarter, 30,100 shares were issued upon the exercise of stock acquisition rights, bringing cumulative shares delivered to 400,000, with dilution continuing to materialize as actual share issuance. - FY2020-Q3MaterialisedAnnual report
「During the nine-month period ended the third quarter of the consolidated fiscal year under review, the Company issued 14,600 new shares as restricted stock compensation and 112,400 new shares upon the exercise of stock acquisition rights.」
During the nine-month period ended the third quarter under review, 112,400 shares were issued upon the exercise of stock acquisition rights, bringing cumulative shares delivered to 219,400, with dilution continuing to materialize as actual share issuance. - FY2020-Q2MaterialisedAnnual report
「During the six-month period ended the second quarter of the consolidated fiscal year under review, the Company issued 14,600 new shares as restricted stock compensation and 72,000 new shares upon the exercise of stock acquisition rights.」
During the six-month period ended the second quarter, 72,000 shares were issued upon the exercise of stock acquisition rights, bringing cumulative shares delivered to 179,000, with dilution continuing to materialize as actual share issuance. - FY2019-Q3MaterialisedAnnual report
「During the nine-month period ended the third quarter of the consolidated fiscal year under review, the Company issued 116,300 new shares upon the exercise of stock acquisition rights.」
Share issuance upon the exercise of stock acquisition rights reached a cumulative 116,300 shares, with the dilution risk continuing to materialize as actual share issuance. - FY2019-Q2MaterialisedAnnual report
「During the six-month period ended the second quarter of the consolidated fiscal year under review, the Company issued 99,700 new shares upon the exercise of stock acquisition rights.」
The exercise of stock acquisition rights resulted in the actual issuance of 99,700 shares, with the potential dilution risk materializing as a share issuance. - FY2019-Q1WorsenedAnnual report
「(4) Number of potential shares from the issuance Number of potential shares: 400,000 shares (100 shares per stock acquisition right)」
Stock acquisition rights carrying 400,000 newly issued potential shares were issued, increasing the potential dilution exposure for existing shareholders. - FY2018First statedAnnual report
「As of the end of the consolidated fiscal year under review, the number of potential shares associated with these stock options was 94,000, equivalent to 5.0% of the total 1,877,700 issued shares.」
The potential dilution of share value and voting rights upon exercise of the stock options is quantified as 94,000 potential shares, equivalent to 5.0% of issued shares.