Shareholders' allotment interim issue of new shares - Kabunushiwariatechukanhakkozoushi

…Because an interim issue involves issuing new shares at a price lower than the market price, it is considered an allotment under the Commercial Code (Article 280-2), which places strong restrictions on issuing new shares at particularly favorable prices to non-shareholders. In Japan, Sakata Shokai was the first to issue an interim issue of new shares at a shareholder allotment in parallel with a par value allotment in September 1961. This was followed by Kureha Kagaku, which issued an interim issue of new shares at a shareholder allotment in parallel with a free allotment in 1987 and 1984.

*Some of the terminology used in reference to "interim issuance of allotments to shareholders" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

…中間発行増資は時価よりも低い価格で新株を発行するので，株主以外の者にとくに有利な価格で新株を発行することを強く制限した商法の規定(280条ノ2)により，株主割当てとなる。日本では1961年9月に阪田商会が株主割当額面増資と並行して株主割当中間発行増資を行ったのが最初である。次いで呉羽化学が62年，64年に株主割当無償増資と並行した株主割当中間発行増資を行っている。…

※「株主割当中間発行増資」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典 第２版について | 情報