Strengthening the financial position by reducing capital reserves and covering accumulated losses
First written in FY2017. 1 of 2 entries say "Achieved", first in FY2018-Q1. Latest entry: FY2018-Q1.
- FY2018-Q1AchievedAnnual report
「Pursuant to a resolution at the 53rd Annual General Meeting of Shareholders held on 22 June 2017, and in accordance with Article 448, paragraph 1 of the Companies Act, the capital reserve was reduced by ¥173,267 thousand as of that date and transferred to other capital surplus. Then, in accordance with Article 452 of the Companies Act, other capital surplus was reduced by ¥173,267 thousand and transferred to retained earnings brought forward to offset the deficit.」
The capital reserve was reduced by ¥173,267 thousand, and the deficit in retained earnings brought forward was offset through other capital surplus. - FY2017First statedAnnual report
「We aim to eliminate the deficit in retained earnings carried forward arising in the fiscal year ended March 2017, strengthen our financial position and secure flexibility and agility in future capital policies. Of the ¥268,010,000 in capital reserves, ¥173,267,919 will be reduced and transferred to other capital surplus.」
Following shareholder approval on 22 June 2017, ¥173.267 million of capital reserves was reduced to eliminate the deficit in retained earnings through a capital-policy measure.