Dilution of Per-Share Value Due to Exercise of Stock Acquisition Rights
First written in FY2021. 8 of 18 entries say "Materialised", first in FY2022-Q1. Latest entry: 2026-08-20.
e-LogiT moved to the "Worse" side of this theme in 2021, 1 year after the typical company in this theme (2020).
The whole theme swung hardest in 2018: 9 of 9 companies on the "Worse" side.
7 other companies' latest entry also says "Worsened".
- 2026-08-20WorsenedShare Issuance and Disposal
「In light of recent trends in the market price of our shares, we have revised the exercise price in order to promote the exercise of these share acquisition rights and secure in a flexible and reliable manner the funds essential to carrying out our planned business initiatives.」
The company disclosed that it reduced the exercise price of the eighth series of share acquisition rights from ¥236 to ¥189 to promote exercise and secure funds. The disclosure indicates the potential for further dilution through the exercise of share acquisition rights and issuance of shares, and is recorded as a development toward a more concrete risk of dilution of share value through the exercise of share acquisition rights. - FY2026WorsenedAnnual report
「Total number of issued shares 15,843,000」
During the fiscal year, the number of shares increased by 7,134,000 through the exercise of stock acquisition rights and by 1,250,000 through a third-party allotment, bringing the total number of issued shares to 15,843,000. The 7,000,000 potential shares under the Series 8 stock acquisition rights also remain outstanding. Quantified: true; actually occurred: true. - FY2026-H1WorsenedAnnual report
「Total number of issued shares 14,593,000／The Company received payment upon the exercise of stock acquisition rights during the interim accounting period, increasing stated capital and capital reserves by ¥713.065 million each during the interim accounting period」
The total number of issued shares increased from 7,459,000 at the end of the previous fiscal year to 14,593,000 through the exercise of stock acquisition rights, while stated capital and capital reserves each increased by ¥713.065 million. Potential dilution exposure has expanded further. - FY2025WorsenedAnnual report
「1 April 2024–31 March 2025 3,712,000 7,459,000 334,994 939,597 334,994 859,597」
During the fiscal year, the total number of issued shares increased by 3,712,000 through the exercise of stock acquisition rights and the issuance of new shares through a third-party allotment, reaching 7,459,000. The Series 7 stock acquisition rights also represent up to 7,000,000 potential shares, and dilution exposure has continued to expand. - FY2025-H1WorsenedAnnual report
「Class, description and number of shares underlying stock acquisition rights (shares)* Common shares 7,000,000／19 September 2024 (Note 2) 2,800,000 6,547,800」
The Company newly established 7,000,000 potential shares under the Series 7 stock acquisition rights and issued 2,800,000 new shares through a third-party allotment on the same day. The total number of issued shares reached 6,547,800, substantially expanding potential dilution exposure. - FY2024MaterialisedAnnual report
「All increases in common shares resulted from the exercise of stock acquisition rights.」
The number of shares increased by 246,200 through the exercise of stock acquisition rights during the consolidated fiscal year, bringing the total number of issued shares to 3,747,000. The Series 6 stock acquisition rights also resulted in the delivery of 200,000 shares and the raising of ¥142,200 thousand. - FY2024-Q3MaterialisedAnnual report
「Number of such bonds with stock acquisition rights subject to adjustment clauses on the exercise price exercised during the quarter (rights) 2,000／Number of shares delivered upon exercise during the quarter (shares) 200,000／Funds raised through exercise during the quarter (thousand yen) 142,200」
2,000 Series 6 stock acquisition rights were exercised and 200,000 shares were issued. Dilution from the exercise of stock acquisition rights actually occurred, and the funds raised amounted to ¥142,200 thousand. - FY2024-Q2Significant addition to potential shares and continued exercise of stock acquisition rightsAnnual report
「1 July 2023–30 September 2023 2,000 3,509,400 500 527,547 500 447,547 (Note) The increase resulted from the exercise of stock acquisition rights.／Number of stock acquisition rights issued 8,700／Potential shares from the issuance 870,000 shares (100 shares per stock acquisition right)」
The number of shares increased by 2,000 through the exercise of stock acquisition rights during the second quarter. In addition, 870,000 potential shares were issued as Series 6 stock acquisition rights, expanding potential dilution exposure. - FY2024-Q1MaterialisedAnnual report
「1 April 2023–30 June 2023 6,600 3,507,400 1,280 527,047 1,280 447,047 (Note) The increase resulted from the exercise of stock acquisition rights.」
The number of shares increased by 6,600 through the exercise of stock acquisition rights during the cumulative first-quarter period, bringing the total number of issued shares to 3,507,400. Events that could lead to dilution through the exercise of stock acquisition rights have continued to occur. - FY2023-Q2MaterialisedAnnual report
「1 July 2022–30 September 2022 1,200 3,500,000 266 525,600 266 445,600 (Note) The increase resulted from the exercise of stock acquisition rights.／Class, description and number of shares underlying stock acquisition rights (shares)* Common shares 54,500」
The number of shares increased by 1,200 through the exercise of stock acquisition rights during the second quarter, bringing the total number of issued shares to 3,500,000. The Company also newly disclosed 54,500 potential shares under the Series 4 stock acquisition rights. - FY2023-Q1MaterialisedAnnual report
「1 April 2022–30 June 2022 17,000 3,498,800 2,798 525,334 2,798 445,334／(Note) The increase resulted from the exercise of stock acquisition rights.」
The number of shares increased by 17,000 through the exercise of stock acquisition rights during the cumulative first-quarter period, bringing the total number of issued shares to 3,498,800. Events that could lead to dilution have continued to occur. - FY2022Decrease in potential shares and continued exercisesAnnual report
「As of the end of the fiscal year, the number of potential shares underlying stock acquisition rights was 281,200, equivalent to 8.08% of the total number of issued shares of 3,481,800.」
Although the percentage of potential shares declined from the previously disclosed 9.95% to 8.08%, 48,600 shares were issued through the exercise of stock acquisition rights during the fiscal year and 14,000 shares were issued between 1 April and 31 May 2022. - FY2022-Q3MaterialisedAnnual report
「(Note) Between 1 January 2022 and 31 January 2022, the total number of issued shares increased by 6,000, while stated capital and capital reserves each increased by ¥864 thousand through the exercise of stock acquisition rights.」
6,000 shares were issued through the exercise of stock acquisition rights before the filing date, and events that could lead to dilution have continued to occur. - FY2022-Q2MaterialisedAnnual report
「The increase resulted from the exercise of stock acquisition rights.」
The number of shares increased by 28,200 through the exercise of stock acquisition rights between 1 July and 30 September 2021, bringing the total number of issued shares to 3,475,200. Events that could lead to dilution have continued to occur. - FY2022-Q1MaterialisedAnnual report
「Including the issuance of new shares upon the exercise of stock acquisition rights during the cumulative first-quarter period, as of the end of the first-quarter accounting period, stated capital was ¥517.495 million and capital surplus was ¥437.495 million.」
New shares were actually issued upon the exercise of stock acquisition rights, increasing the number of issued shares and stated capital and other items. - FY2021First statedAnnual report
「As of the end of the fiscal year, the number of potential shares underlying stock acquisition rights was 338,400, equivalent to 9.95% of the total number of issued shares of 3,400,000.」
The disclosure states that the exercise of stock options for officers and employees could dilute the equity value of existing shareholders.