Securing Flexibility in Capital Policy Through Reduction of Capital Reserve
First written in FY2016. 3 of 9 entries say "Achieved", first in FY2017-Q1. Latest entry: FY2018.
- FY2018AchievedAnnual report
「At the Extraordinary General Meeting of Shareholders held on 9 March 2018, the Company obtained approval for the reduction of the amounts of its stated capital and capital reserve, which became effective on 10 March 2018.」
The procedure to reduce stated capital by ¥900 million and capital reserve by ¥225 million and transfer them to other capital surplus was completed on 10 March 2018 following approval at the Extraordinary General Meeting of Shareholders. - FY2018-Q3AdvancedAnnual report
「At a meeting of the Board of Directors held on 10 January 2018, the Company resolved to hold an Extraordinary General Meeting of Shareholders on 9 March 2018 and submit proposals to reduce the amounts of its stated capital and capital reserve. (1) Purpose of the reduction in the amounts of stated capital and capital reserve The purpose was to ensure flexibility and agility in future capital policy. (2) Details of the reduction in the amounts of stated capital and capital reserve Pursuant to Article 447, Paragraph 1 and Article 448, Paragraph 1 of the Companies Act, the Company will reduce the amounts of its stated capital and capital reserve without changing the total number of issued shares and transfer them to other capital surplus. ① Amounts of stated capital and capital reserve to be reduced Stated capital ¥1,000,000,000, of which ¥900,000,000 Capital reserve ¥250,000,000, of which ¥225,000,000 ② Item and amount of surplus to be increased Other capital surplus ¥1,125,000,000」
The Board of Directors resolved to reduce stated capital by ¥900 million and capital reserve by ¥225 million and transfer them to other capital surplus. The proposals were scheduled to be submitted to the Extraordinary General Meeting of Shareholders on 9 March 2018, with the reductions scheduled to become effective on 10 March. - FY2018-Q2RestatedAnnual report
「Based on a resolution of the 73rd Annual General Meeting of Shareholders held on 27 June 2017, the Company reduced the amounts of its stated capital and capital reserve effective 3 July 2017. (1) Purpose of the reduction in the amounts of stated capital and capital reserve The purpose was to ensure flexibility and agility in future capital policy. (2) Details of the reduction in the amounts of stated capital and capital reserve Pursuant to Article 447, Paragraph 1 and Article 448, Paragraph 1 of the Companies Act, the Company reduced the amounts of its stated capital and capital reserve and transferred them to other capital surplus.」
The Company is reiterating the fact that the reduction of its stated capital and capital reserve and their transfer to other capital surplus became effective on 3 July 2017. - FY2018-Q1AchievedAnnual report
「At the 73rd Annual General Meeting of Shareholders held on 27 June 2017, the Company obtained approval for the reduction of the amounts of its stated capital and capital reserve, which became effective on 3 July 2017. For the purpose of ensuring flexibility and agility in capital policy, the Company reduced the amounts of its stated capital and capital reserve pursuant to Article 447, Paragraph 1 and Article 448, Paragraph 1 of the Companies Act, respectively, and transferred them to other capital surplus.」
The reduction of the amounts of stated capital and capital reserve was approved by the General Meeting of Shareholders and became effective on 3 July 2017. The Company reduced its stated capital by ¥2,972,736,945 and its capital reserve by ¥743,184,237, and transferred them to other capital surplus. - FY2017AdvancedAnnual report
「At a meeting of the Board of Directors held on 26 May 2017, the Company resolved to submit a proposal to reduce the amounts of its stated capital and capital reserve to the 73rd Annual General Meeting of Shareholders held on 27 June 2017, where the proposal was approved.」
In addition to the capital reserve, the stated capital was also reduced, and the plan to transfer ¥2,972,736,945 of stated capital and ¥743,184,237 of capital reserve to other capital surplus was approved at the General Meeting of Shareholders. The effective date was set as 3 July 2017. - FY2017-Q3RestatedAnnual report
「Based on a resolution of the 72nd Annual General Meeting of Shareholders held on 29 June 2016, the Company reduced the amount of its capital reserve effective 4 July 2016. (1) Purpose of the reduction in the amount of the capital reserve The purpose was to ensure flexibility in future capital policy and prepare for agile capital policy, as well as to secure flexibility in the financial strategy in response to future changes in the operating environment and other factors. (2) Details of the reduction in the amount of the capital reserve Pursuant to Article 448, Paragraph 1 of the Companies Act, the Company reduced the amount of its capital reserve and transferred it to other capital surplus. ① Item and amount of reserve to be reduced Capital reserve ¥1,482,009,802, of which ¥488,825,565」
The Company is reiterating the fact that it reduced the ¥488,825,565 capital reserve on 4 July 2016 for the purpose of ensuring flexibility in its capital and financial strategies. - FY2017-Q2RestatedAnnual report
「Based on a resolution of the 72nd Annual General Meeting of Shareholders held on 29 June 2016, the Company reduced the amount of its capital reserve effective 4 July 2016. The purpose was to ensure flexibility in future capital policy and prepare for agile capital policy, as well as to secure flexibility in the financial strategy in response to future changes in the operating environment and other factors.」
The Company is reiterating, in its statement of changes in shareholders’ equity, that the reduction of the ¥488,825,565 capital reserve and its transfer to other capital surplus have been completed. - FY2017-Q1AchievedAnnual report
「At the 72nd Annual General Meeting of Shareholders held on 29 June 2016, the Company obtained approval for the reduction of the capital reserve, which became effective on 4 July 2016. The purpose was to ensure flexibility in future capital policy and prepare for agile capital policy, as well as to secure flexibility in the financial strategy in response to future changes in the operating environment and other factors. Pursuant to Article 448, Paragraph 1 of the Companies Act, the Company reduced the amount of its capital reserve and transferred it to other capital surplus. Capital reserve ¥1,482,009,802, of which ¥488,825,565」
The reduction of the ¥488,825,565 capital reserve was approved by the General Meeting of Shareholders and became effective on 4 July 2016. - FY2016First statedAnnual report
「For the purpose of ensuring flexibility in future capital policy and preparing for agile capital policy, as well as securing flexibility in the financial strategy in response to future changes in the operating environment and other factors, the Company will reduce the amount of its capital reserve and transfer it to other capital surplus pursuant to Article 448, Paragraph 1 of the Companies Act.」
The Company describes the procedure, including the reduction of the ¥488 million capital reserve, as ensuring flexibility in its future capital and financial strategies.