Dilution of Share Value through Stock Acquisition Rights Issued by Third-Party Allotment
First written in FY2017-Q2. 6 of 15 entries say "Materialised", first in FY2018-Q1. Latest entry: FY2023.
The whole theme swung hardest in 2017: 18 of 36 companies on the "Worse" side.
11 other companies' latest entry also says "Mitigated".
- FY2023MitigatedAnnual report
「In addition, the Japan Communications Inc. Fifth Series Stock Acquisition Rights (third-party allotment) were acquired by the Company at an amount equal to their issue price on the last day of the exercise period, in accordance with the issuance terms, and all ceased to exist on 7 April 2023.」
Although 17,770,000 shares remained outstanding at the end of the fiscal year, all of the Fifth Series Stock Acquisition Rights ceased to exist after the filing, reducing the potential dilution from those rights. - FY2022-Q2MitigatedAnnual report
「Fifth Series Stock Acquisition Rights (third-party allotment) Common shares: 17,770,000 shares Twentieth Series Stock Acquisition Rights (stock options) Common shares: 3,352,200 shares Twentieth Series Stock Acquisition Rights (stock options) Common shares: 3,326,400 shares」
While 17,770,000 potential shares under the third-party allotment of stock acquisition rights remain, the number of shares stated for the stock options declined from 3,352,200 to 3,326,400, reducing part of the potential for dilution. - FY2021-Q3MitigatedAnnual report
「Fourth Series Stock Acquisition Rights (third-party allotment) Common shares: 17,770,000 shares Fifth Series Stock Acquisition Rights (third-party allotment) Common shares: 17,770,000 shares Twentieth Series Stock Acquisition Rights (stock options) Common shares: 3,351,200 shares」
The number of potential shares under the Fourth Series Stock Acquisition Rights declined from the previously disclosed 19,240,000 shares to 17,770,000. Meanwhile, the potential for dilution from the Fifth Series Stock Acquisition Rights and other instruments remains. - FY2021-Q2RestatedAnnual report
「Fourth Series Stock Acquisition Rights (third-party allotment) Common shares: 19,240,000 shares Fifth Series Stock Acquisition Rights (third-party allotment) Common shares: 17,770,000 shares Twentieth Series Stock Acquisition Rights (stock options) Common shares: 3,352,200 shares」
Potential shares from the third-party allotment of stock acquisition rights and stock options remain outstanding, reaffirming the possibility of dilution. - FY2020RaisedAnnual report
「Based on a resolution of the Company's Board of Directors meeting held on 19 March 2020, the Company issued 177,700 Fifth Series Stock Acquisition Rights (third-party allotment), representing 17,770,000 shares, on 6 April 2020. The exercise period for these stock acquisition rights ran through 6 April 2023. If exercised, the Company's equity value per share will be diluted, which may affect its share price.」
Following the cancellation of the Fourth Series Stock Acquisition Rights, potential dilution of 17,770,000 shares, equivalent to 10.82% of shares issued, was newly established through the Fifth Series Stock Acquisition Rights. - FY2020-Q3MaterialisedAnnual report
「Number of shares delivered upon exercise during the quarter (shares) 1,470,000」
During the quarter, 1,470,000 shares were delivered through the exercise of the Fourth Series Stock Acquisition Rights, and dilution of equity value continued to materialise. - FY2020-Q1MaterialisedAnnual report
「This represents an increase resulting from the exercise of the Fourth Series Stock Acquisition Rights (third-party allotment).」
During the quarter, 1,500,000 shares were issued through the exercise of the Fourth Series Stock Acquisition Rights, and dilution of equity value is continuing to materialise. - FY2019-Q3MaterialisedAnnual report
「Fourth Series Stock Acquisition Rights (third-party allotment) Common shares: 21,600,000 shares」
The Fourth Series Stock Acquisition Rights had 21,600,000 potential shares remaining. During the third quarter accounting period, 2,100,000 shares were delivered, and dilution of equity value from the third-party allotment of stock acquisition rights is continuing to materialise. - FY2018RaisedAnnual report
「If these stock acquisition rights are exercised, the Company's equity value per share will be diluted, which may affect its share price.」
While the remaining Third Series Stock Acquisition Rights were cancelled, 237,000 Fourth Series Stock Acquisition Rights, representing 23,700,000 shares, or 14.97% of total shares issued, were issued, newly increasing the potential scale of dilution. - FY2018-Q3MaterialisedAnnual report
「During the third quarter, stock acquisition rights attached to bonds with stock acquisition rights with adjustment provisions for the exercise price were exercised as follows.」
An additional 3,600,000 shares were delivered during the third quarter accounting period, bringing cumulative shares delivered to 17,460,000. The number of potential shares remaining under the third-party allotment of stock acquisition rights fell to 3,540,000, and dilution is continuing to materialise. - FY2018-Q2MaterialisedAnnual report
「Third Series Stock Acquisition Rights (third-party allotment) Common shares: 7,140,000 shares」
The number of potential shares remaining under the Third Series Stock Acquisition Rights fell to 7,140,000, indicating that dilution of equity value is continuing to materialise. The disclosure also states that 36,000 rights were exercised and 3,600,000 shares were delivered by the filing date. - FY2018-Q1MaterialisedAnnual report
「During the first quarter, stock acquisition rights attached to bonds with stock acquisition rights with adjustment provisions for the exercise price were exercised as follows.」
During the quarter, 69,300 third-party allotment stock acquisition rights were exercised and 6,930,000 shares were delivered. Cumulative shares delivered through the end of the period reached 13,860,000, indicating that dilution of equity value is continuing to materialise. - FY2017RestatedAnnual report
「If these stock acquisition rights are exercised, the Company's equity value per share will be diluted, which may affect its share price.」
The risk of dilution upon exercise is reaffirmed for the third-party allotment of stock acquisition rights with 14,070,000 potential shares remaining at the end of the period. - FY2017-Q3RestatedAnnual report
「If these stock acquisition rights are exercised, the Company's equity value per share will be diluted, which may affect its share price.」
The risk of dilution of equity value upon exercise is reiterated for the third-party allotment of stock acquisition rights with 14,070,000 potential shares remaining. - FY2017-Q2First statedAnnual report
「If these stock acquisition rights are exercised, the Company's equity value per share will be diluted, which may affect its share price.」
The disclosure states that 14,070,000 potential shares remain out of the 21,000,000 shares underlying the third-party allotment of stock acquisition rights. During the quarter, 6,930,000 shares had already been issued, resulting in partial dilution.