Risk of dilution of existing shareholders' interests through the exercise of stock options
First written in FY2022. 8 of 9 entries say "Materialised", first in FY2023-Q2. Latest entry: FY2026-H1.
The whole theme swung hardest in 2017: 37 of 68 companies on the "Worse" side.
- FY2026-H1MaterialisedAnnual report
「1 October 2025 to 31 March 2026 12,000 6,339,800 3,482 235,530 3,482 650,720 (Note) 1. This represents an increase resulting from the exercise of stock acquisition rights (stock options).」
Between October 2025 and March 2026, 12,000 shares were actually issued through the exercise of stock acquisition rights, increasing the total number of shares issued, share capital and capital reserves. The issuance of a further 20,500 shares in April 2026 is also reported. - FY2025MaterialisedAnnual report
「As of 30 November 2025, the end of the month preceding the filing date, the number of potential shares represented by subscription rights to shares was 238,300, including 210,000 shares held in a fair-value-issued subscription rights trust. This represented 3.76% of the total 6,339,800 issued shares.」
Dilution from the exercise of subscription rights to shares continued, with 107,700 shares exercised during the consolidated fiscal year. Meanwhile, the potential share ratio as of the end of the month preceding the filing date was 3.76%, down from 5.92% in the previous report. - FY2025-H1MaterialisedAnnual report
「1 October 2024–31 March 2025 13,900 6,147,400 5,362 201,116 5,362 455,316」
The exercise of subscription rights to shares resulted in the actual issuance of 13,900 shares between October 2024 and March 2025, increasing the total number of issued shares, stated capital and capital surplus. The issuance of a further 5,000 shares in April 2025 is also reported. - FY2024MaterialisedAnnual report
「As of 30 November 2024, the end of the month preceding the filing date, the number of potential shares represented by subscription rights to shares was 363,000, including 230,000 shares held in a fair-value-issued subscription rights trust. This represented 5.92% of the total 6,133,500 issued shares.」
The potential share risk associated with stock options continues to be described. Between October 2023 and September 2024, the exercise of subscription rights to shares resulted in the actual issuance of 8,200 shares, increasing the number of issued shares. - FY2024-Q2MaterialisedAnnual report
「1 January 2024–31 March 2024 1,200 6,133,500 402 195,754 402 449,954 (Note) The increase resulted from the exercise of subscription rights to shares (stock options).」
The exercise of subscription rights to shares resulted in the issuance of 1,200 shares between January and March 2024, increasing the total number of issued shares. Stated capital and capital surplus also increased by ¥402 thousand each. - FY2024-Q1MaterialisedAnnual report
「1 October 2023–31 December 2023 7,000 6,132,300 1,989 195,351 1,989 449,551」
The exercise of subscription rights to shares resulted in the actual issuance of 7,000 shares during the cumulative first-quarter period, increasing the total number of issued shares, stated capital and capital surplus. - FY2023-Q3MaterialisedAnnual report
「Between 1 April 2023 and 30 June 2023, the exercise of subscription rights to shares increased the total number of issued shares by 1,350 and increased stated capital and capital surplus by ¥449 thousand each.」
The exercise of subscription rights to shares resulted in the actual issuance of 1,350 shares between April and June 2023, increasing the number of issued shares, stated capital and capital surplus. The potential dilution of existing shareholders thus materialized through an additional share issuance. - FY2023-Q2MaterialisedAnnual report
「Between 1 January 2023 and 31 March 2023, the exercise of subscription rights to shares increased the total number of issued shares by 70,950, and increased stated capital and capital surplus by ¥20,576 thousand each.」
The exercise of subscription rights to shares resulted in the actual issuance of 70,950 shares and an increase in the number of issued shares. The potential dilution from these shares has materialized through an actual share issuance. - FY2022First statedAnnual report
「As of 30 November 2022, the end of the month preceding the filing date, the number of potential shares represented by subscription rights to shares was 460,500, including 243,000 shares held in a fair-value-issued subscription rights trust that had not been granted to directors or employees. This represented 8.07% of the total 5,703,000 issued shares.」
The potential dilution of equity value through the exercise of subscription rights to shares is quantified as 460,500 potential shares, or 8.07% of total issued shares.