Improving Financial Soundness and Increasing Capital Policy Flexibility Through Reductions in Stated Capital and Capital Reserves and Deficit Coverage
First written in FY2023-Q3. 1 of 2 entries say "Achieved", first in FY2023. Latest entry: FY2023.
- FY2023AchievedAnnual report
「30 June 2023 (Note) 15. — Common shares 8,197,000; decrease in stated capital ¥1,361,143 thousand; capital reserves ¥50,062 thousand; decrease in capital reserves ¥691,718 thousand; ¥862,044 thousand (Note) 15. Capital reduction without compensation: Stated capital decreased by ¥1,361,143 thousand (reduction ratio: 96.5%) and capital reserves decreased by ¥691,718 thousand (reduction ratio: 44.5%) through a capital reduction without compensation to eliminate the deficit.」
The company carried out the capital reduction without compensation and deficit elimination planned for FY2023, reducing stated capital and capital reserves and eliminating the deficit in retained earnings brought forward. - FY2023-Q3First statedAnnual report
「At a Board of Directors meeting held on 14 April 2023, the company resolved to submit proposals concerning reductions in stated capital and capital reserves and the disposition of surplus to an extraordinary general meeting of shareholders scheduled for 30 June 2023. The company will reduce its stated capital and capital reserves and dispose of surplus to eliminate the current deficit in retained earnings brought forward, strengthen its financial position, and secure flexibility and agility in its capital policy, including reducing its tax burden and returning capital to shareholders in the future.」
The company has decided to reduce ¥1,361,143,690 of its ¥1,411,143,690 in stated capital and ¥691,718,670 of its ¥1,553,699,976 in capital reserves, and to eliminate the ¥2,052,862,360 deficit in retained earnings brought forward through other capital surplus. The extraordinary general meeting of shareholders is scheduled for 30 June 2023, with the objectives of eliminating the deficit, strengthening the financial position, reducing the tax burden, and securing flexibility and agility in capital policy.