Share-Value Dilution from the Exercise of Stock Acquisition Rights
First written in FY2017. 10 of 19 entries say "Materialised", first in FY2021-Q3. Latest entry: 2026-10-06.
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
- 2026-10-06MaterialisedShare Issuance and Disposal
「同日以降、新株予約権の行使により資本金の額が増加いたしました。」
新株予約権の行使が実際に発生し、資本金の額の変更および減資額の変更に反映された。 - FY2026-H1MaterialisedAnnual report
「1 January 2026–30 June 2026 2,015,300 8,527,024 240,469 290,469 240,469 634,120” “Increase due to the exercise of stock acquisition rights.」
Exercise of stock acquisition rights resulted in the issuance of 2,015,300 shares during the first half, bringing total issued shares to 8,527,024 and increasing both stated capital and the capital surplus by ¥240.469 million. - 2026-06-10MaterialisedOccurring Fact
「The exercise of rights today, involving 7,500 units exercised and 750,000 shares delivered, resulted in a change in the company’s major shareholders. As of today, the unexercised balance of the relevant stock acquisition rights held by ELLE Limited Liability Partnership is 8,655 units, representing 865,500 shares scheduled for delivery.」
The exercise of the 12th series of stock acquisition rights resulted in the delivery of 750,000 shares, causing dilution through an actual share issuance. The remaining balance of 865,500 shares also clarifies the number of potential shares outstanding. - FY2024WorsenedAnnual report
「As of the end of the month preceding the month in which this document was filed, the number of potential shares from stock acquisition rights was 2,801,200, equivalent to 43.7% of the 6,412,500 issued shares.」
Potential shares increased from 2,726,400 in the previous disclosure to 2,801,200, while the ratio to total issued shares increased from 43.3% to 43.7%. - FY2024-H1MaterialisedAnnual report
「1 January 2024–30 June 2024 (Note 1) 35,000 6,337,500” “(Note 1) Increase due to the exercise of stock acquisition rights.」
35,000 shares were issued through the exercise of stock acquisition rights during the interim period, bringing total issued shares to 6,337,500. The disclosure also states that a further 75,000 shares were issued in July 2024. - FY2023WorsenedAnnual report
「As of the end of the month preceding the month in which this document was filed, the number of potential shares from stock acquisition rights was 2,726,400, equivalent to 43.3% of the 6,302,500 issued shares.」
The issuance of the 13th series of stock acquisition rights and other instruments increased potential shares to 2,726,400, or 43.3% of total issued shares, expanding the potential dilution exposure. - FY2023-Q3MaterialisedAnnual report
「1 July 2023–30 September 2023 5,000 6,120,700 567 915,912 567 866,432 Increase due to the exercise of stock acquisition rights.」
Exercise of the 12th series of stock acquisition rights resulted in the issuance of 5,000 shares, with dilution materialising through the actual issuance of shares. - FY2023-Q2WorsenedAnnual report
「The class and total number of shares underlying these stock acquisition rights are 2,212,300 common shares of the company” “The exercise period for these stock acquisition rights is from 3 July 2023 to 3 July 2026.」
The 12th series of stock acquisition rights was issued, establishing up to 2,212,300 potential shares and an exercise period from July 2023 to July 2026. This added a new source of potential dilution. - FY2022MitigatedAnnual report
「All of the 10th series of stock acquisition rights had been exercised by 6 October 2022.」
Exercise of all 500,000 units of the 10th series of stock acquisition rights was completed. While dilution actually occurred, the potential shares underlying these rights were eliminated, reducing potential shares as of the end of the month preceding the filing month to 139,900, or 3.8% of total issued shares. - FY2022-Q3MaterialisedAnnual report
「Number of these convertible bonds with stock acquisition rights subject to adjustment of the exercise price exercised during the quarter: 110,900」
110,900 units of the 10th series of stock acquisition rights were exercised during the quarter, bringing cumulative shares delivered to 486,000 and cumulative funds raised to ¥189 million. The dilution risk is materialising through the actual issuance of shares. - FY2022-Q2MaterialisedAnnual report
「Number of these convertible bonds with stock acquisition rights subject to adjustment of the exercise price exercised during the quarter: 81,000」
81,000 units of the 10th series of stock acquisition rights were exercised during the quarter, bringing cumulative shares delivered to 375,100 and cumulative funds raised to ¥150 million. The dilution risk is materialising through the actual issuance of shares. - FY2022-Q1MaterialisedAnnual report
「Number of these convertible bonds with stock acquisition rights subject to adjustment of the exercise price exercised during the quarter: 13,100” “Cumulative number of shares delivered under these convertible bonds with stock acquisition rights subject to adjustment of the exercise price at the end of the quarter: 294,100” “Cumulative funds raised under these convertible bonds with stock acquisition rights subject to adjustment of the exercise price at the end of the quarter (¥ million): 127」
Exercise of the 10th series of stock acquisition rights resulted in 13,100 shares being delivered during the quarter, bringing cumulative shares delivered to 294,100 and cumulative funds raised to ¥127 million. The dilution risk is materialising through the actual issuance of shares. - FY2021MaterialisedAnnual report
「As of the end of the month preceding the month in which this document was filed, the number of potential shares from stock acquisition rights was 369,500, equivalent to 10.63% of the 3,473,600 issued shares.」
Exercise of the 10th series of stock acquisition rights resulted in 281,000 shares being delivered during 2021, and the number and ratio of potential shares related to dilution were also disclosed. - FY2021-Q3MaterialisedAnnual report
「Number of these convertible bonds with stock acquisition rights subject to adjustment of the exercise price exercised during the quarter: 50,000” “Funds raised through exercises during the quarter (¥ million): 24」
50,000 units of the 10th series of stock acquisition rights were exercised and 50,000 shares were delivered. Part of the potential dilution risk materialised through the actual issuance of shares. - FY2021-Q2WorsenedAnnual report
「The total number of shares underlying these stock acquisition rights is 500,000” “Maximum number of shares allotted: 500,000 (16.39% of total issued shares as of 31 December 2020)」
The issuance of the 10th series of stock acquisition rights added up to 500,000 potential shares, equivalent to 16.39% of total issued shares at the end of December 2020. - FY2020-Q1WorsenedAnnual report
「Number of stock acquisition rights (units): 426” “Class, terms and number of shares underlying the stock acquisition rights (shares): common shares, 42,600」
The 426 stock acquisition rights issued as the 9th series entitled holders to 42,600 underlying shares, adding to the potential dilution of equity value from stock acquisition rights. - FY2019WorsenedAnnual report
「As of the date of filing this document, the number of potential shares from stock acquisition rights was 102,900, equivalent to 3.65% of the 2,818,700 issued shares.」
The number of potential shares and the dilution ratio increased from 72,000 shares and 2.56% previously to 102,900 shares and 3.65%. - FY2018MitigatedAnnual report
「As of the date of filing this document, the number of potential shares from stock acquisition rights was 72,000, equivalent to 2.56% of the 2,816,300 issued shares.」
The number of potential shares and the ratio to total issued shares declined from 73,500 shares and 2.67% in the previous disclosure to 72,000 shares and 2.56%. - FY2017First statedAnnual report
「As of the date of filing this document, the number of potential shares from stock acquisition rights was 73,500, equivalent to 2.67% of the 2,755,700 issued shares.」
The company discloses the possibility that the exercise of stock options granted to officers, employees and external collaborators could dilute the value of existing shareholders' holdings.