Strengthening the Financial Foundation Through Reductions in Stated Capital and Capital Reserves and Coverage of the Deficit
First written in FY2017-Q4. 1 of 3 entries say "Advanced", first in FY2018-Q1. Latest entry: FY2017.
- FY2017AchievedAnnual report
「The reduction of capital became effective on 1 December 2017. After reducing stated capital and the capital reserve and transferring the amounts to other capital surplus, a portion of other capital surplus was reduced and transferred to retained earnings carried forward on the same date to eliminate the deficit.」
The Company reduced stated capital by ¥1,686 million and the capital reserve by ¥1,586 million and eliminated the deficit on 1 December 2017. - FY2018-Q1AdvancedAnnual report
「Of the stated capital of ¥1,776 million, ¥1,686 million will be reduced. The entire amount of the reduction will be transferred to other capital surplus.」
Specific procedures have been set out for the reduction of stated capital and the capital reserve and the elimination of accumulated losses, following approval at the extraordinary general meeting of shareholders on 10 July 2017 and ahead of the effective date of 1 December 2017. - FY2017-Q4First statedAnnual report
「To strengthen the Company's financial position and implement an agile growth strategy by eliminating the deficit in retained earnings carried forward and reorganizing the capital accounts, the Company will reduce the amount of stated capital pursuant to Article 447, paragraph 1 of the Companies Act, reduce the amount of the capital reserve pursuant to Article 448, paragraph 1 of the same Act, and apply the proceeds to eliminate the deficit pursuant to Article 452 of the Companies Act.」
The plan to reduce stated capital by ¥1,686 million and the capital reserve by ¥1,586 million and allocate ¥124 million from other capital surplus to eliminate the deficit has been approved.