Decline in the liquidity of listed shares
First written in FY2022. 3 of 6 entries say "Mitigated", first in FY2023-Q1. Latest entry: FY2025.
The whole theme swung hardest in 2025: 14 of 48 companies on the "Worse" side.
21 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「The purpose is to improve the liquidity of the Company’s shares and broaden the investor base by lowering the amount required per investment unit.」
A 1-for-2 stock split effective 1 September 2025 was implemented to reduce the investment unit and improve liquidity and broaden the investor base. - FY2023RestatedAnnual report
「We intend to continue improving liquidity through cooperation from major shareholders in secondary offerings and funding growth capital through public offerings in line with our business plan.」
While continuing measures to secure tradable shares, the company identifies the likelihood of reduced liquidity as high. - FY2023-Q3RestatedAnnual report
「As of 31 July 2022, the end of the fiscal year, our tradable-share ratio was below the listing-maintenance standards for the Tokyo Stock Exchange Growth Market. We reported this in the first quarter as a business and financial issue requiring priority attention, but after confirming shareholders as of 1 November 2022, we confirmed that the ratio exceeded the same standards.」
The company again confirmed that its tradable-share ratio exceeded the Tokyo Stock Exchange Growth Market listing-maintenance standards. - FY2023-Q2MitigatedAnnual report
「As of 31 July 2022, the end of the fiscal year, our tradable-share ratio was below the listing-maintenance standards for the Tokyo Stock Exchange Growth Market. We reported this in the first quarter as a business and financial issue requiring priority attention, but after confirming shareholders as of 1 November 2022, we confirmed that the ratio exceeded the same standards.」
The company stated that its tradable-share ratio exceeded the Tokyo Stock Exchange Growth Market listing-maintenance standards. - FY2023-Q1MitigatedAnnual report
「As part of these efforts, by increasing the number of tradable shares through the exercise of employee stock acquisition rights and the sale, with due regard to market conditions, of shares held by our representative director Hayashi, who is also our largest shareholder and founder, we will continue to maintain a position compliant with listing-maintenance requirements.」
Increasing the tradable-share ratio is identified as a priority, through exercise of stock acquisition rights and sales of shares held by the founder. - FY2022First statedAnnual report
「When listing on the Tokyo Stock Exchange, we conducted a public offering and secondary offering and have worked to secure liquidity in our shares.」
The company also describes increasing liquidity through cooperation with major shareholders in secondary offerings and public offerings to raise growth capital.