Worth reading
30Immaterial
Scored from 4 of 5 sectionsDirection
Neutral
Direction inferred from the company’s description.Scale
699604
Reverse stock split of shares into 1 shareWording
Conditional
How definitive the wording is.Details of issuance or disposal
Share consolidation
発行・処分する株式数
Consolidation of 699,604 shares into 1 share
Offering structure
Major shareholders after the offering
MITSUBA Corporation and Chubu Electric Power Co., Inc. (post-issuance ownership ratio: Not disclosed)
Stock Split RatioConsolidation of 699,604 shares into 1 share, effective date scheduled for 14 October 2026
Procedures under the Corporate Code of Conduct
Approval of the share consolidation and amendment to the Articles of Incorporation at the extraordinary general meeting of shareholders scheduled for 16 September 2026. A special committee consisting of 3 independent outside directors was established, and an opinion letter was obtained.
Impact on Business Performance
The Company believes that delisting will reduce fixed costs, including audit fees, costs of operating general meetings of shareholders, and administrative outsourcing fees paid to the shareholder registry administrator, as well as the administrative burden associated with maintaining the listing.
| Item | Details |
|---|---|
| Type of issuance or disposal | Share consolidation |
| Number of shares to be issued or disposed of | Consolidation of 699,604 shares into 1 share |
| Total number of issued shares | 3,498,444 shares (before the effective date) → 5 shares (after the effective date) |
| Stock Split Ratio | Consolidation of 699,604 shares into 1 share, effective date scheduled for 14 October 2026 |
| Procedures under the Corporate Code of Conduct | Approval of the share consolidation and amendment to the Articles of Incorporation at the extraordinary general meeting of shareholders scheduled for 16 September 2026. A special committee consisting of 3 independent outside directors was established, and an opinion letter was obtained. |
| Major shareholders after the offering | MITSUBA Corporation and Chubu Electric Power Co., Inc. (post-issuance ownership ratio: Not disclosed) |
| Impact on Business Performance | The Company believes that delisting will reduce fixed costs, including audit fees, costs of operating general meetings of shareholders, and administrative outsourcing fees paid to the shareholder registry administrator, as well as the administrative burden associated with maintaining the listing. |
Items this document does not state (21)
Issue price and disposal priceTotal issue valueAmount of funds to be raisedEstimated issuance expensesSpecific use of fundsPayment dateIntended allotteeIntended allottee's holding policyDilution RateBasis for determining the amount to be paidExercise priceExercise periodNumber of Stock Acquisition RightsTransfer restriction periodConditions for lifting transfer restrictionsReason for acquisition without considerationCategories and Number of Persons CoveredTotal Stock-Based CompensationUnderwriter / lead underwriterOverallotmentMost recent equity financing
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.To make the tender offerors the Company's sole shareholders and privatize the Company's shares. Delisting is expected to reduce the costs of maintaining the listing and the burden on the Company's administrative divisions, while enabling the Company to strengthen collaboration with the tender offerors, expand growth opportunities, and advance investments in research and development.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.