Decline in Share Liquidity After Listing
First written in FY2022. 7 of 11 entries say "Restated". Latest entry: FY2026-H1.
The whole theme swung hardest in 2025: 14 of 48 companies on the "Worse" side.
12 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company concludes that there have been no material changes regarding the risk of lower share liquidity after listing. - FY2025MitigatedAnnual report
「Because our parent company, KAYAC Inc., owns a majority of the voting rights, our shareholder structure makes us a company controlled by the parent. The free-float ratio prescribed by the Tokyo Stock Exchange was 40.2% as of the end of October 2025. We intend to continue improving liquidity through a combination of cooperation from the parent company in secondary offerings, raising growth capital through public offerings in line with our group's business plan, requesting partial secondary offerings by officers and business companies, and the increase in the number of freely tradable shares resulting from the exercise of stock acquisition rights.」
The free-float ratio rose from 38.7% to 40.2%, and the company continues its policy of improving liquidity through a combination of a secondary offering by the parent company, a public offering, requests for secondary offerings, and the exercise of stock acquisition rights. - FY2025-H1RestatedAnnual report
「During the interim consolidated accounting period, there were no new business or other risks, nor any material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes regarding the risk of lower share liquidity after listing. - FY2024MitigatedAnnual report
「The free-float ratio prescribed by the Tokyo Stock Exchange stood at 38.7% as of the end of October 2024. Going forward, we intend to improve liquidity through a combination of cooperation from the parent company in secondary offerings, raising growth capital through public offerings in line with our group's business plan, requesting partial secondary offerings by officers and business companies, and the increase in the number of freely tradable shares resulting from the exercise of stock acquisition rights.」
The free-float ratio rose from 35.8% to 38.7%, and the company continues its policy of improving liquidity through a combination of a secondary offering by the parent company, a public offering, requests for secondary offerings, and the exercise of stock acquisition rights. - FY2024-Q2RestatedAnnual report
「During the six-month period ended in the second quarter, there was no new business risk or material change in the business risks described in the annual securities report for the previous consolidated fiscal year.」
The company concludes that there have been no material changes regarding the risk of lower share liquidity after listing. - FY2024-Q1RestatedAnnual report
「During the first quarter of the current consolidated fiscal year, there were no newly arising business or other risks, and no material changes to the business or other risks described in the securities report for the previous fiscal year.」
The company states that there have been no material changes regarding the risk of lower share liquidity after listing. - FY2023MitigatedAnnual report
「The free-float ratio prescribed by the Tokyo Stock Exchange stood at 35.8% as of the end of October 2023. Going forward, we intend to improve liquidity through a combination of cooperation from the parent company in secondary offerings, raising growth capital through public offerings in line with our group's business plan, requesting partial secondary offerings by officers and business companies, and the increase in the number of freely tradable shares resulting from the exercise of stock acquisition rights.」
The free-float ratio rose from 27.6% at listing to 35.8%, and the company outlines liquidity improvement measures combining a secondary offering by the parent company, a public offering, requests for secondary offerings, and the exercise of stock acquisition rights. - FY2023-Q3RestatedAnnual report
「During the cumulative third-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
The company concludes that there have been no material changes regarding the risk of lower share liquidity after listing. - FY2023-Q2RestatedAnnual report
「During the cumulative second-quarter period, there were no new business risks and no material changes in the business risks described in the annual securities report for the preceding fiscal year.」
The company concludes that there have been no material changes regarding the risk of lower share liquidity after listing. - FY2023-Q1RestatedAnnual report
「During the cumulative first-quarter period, there were no new business or other risks, nor any material changes to the business and other risks described in the annual securities report for the previous fiscal year.」
The company concludes that there have been no material changes regarding the risk of lower share liquidity after listing. - FY2022First statedAnnual report
「Although we intend to work to ensure liquidity in our shares through this public offering and secondary offering, the free-float ratio prescribed by the Tokyo Stock Exchange remained at 27.6% at the time of the new listing.」
The company discloses a policy of improving liquidity through public offerings, secondary offerings and other measures, together with a free-float ratio of 27.6% at the time of listing.