Risk of falling below the delisting criteria
First written in FY2020. 1 of 2 entries say "Restated". Latest entry: FY2021.
1 other company's latest entry also says "Restated".
- FY2021RestatedAnnual report
「If the monthly average market capitalization or month-end market capitalization of the Company's shares falls below ¥1 billion, this would constitute a violation of Article 601, paragraph 1, item 4(a) of the Tokyo Stock Exchange Securities Listing Regulations.」
The possibility of delisting if monthly average or month-end market capitalization falls below ¥1 billion, and the improvement period, were disclosed again. - FY2020First statedAnnual report
「If the monthly average market capitalization or month-end market capitalization of the Company's shares falls below ¥1 billion, this would constitute a violation of Article 601, paragraph 1, item 4(a) of the Tokyo Stock Exchange Securities Listing Regulations. If this occurs, and the monthly average market capitalization and month-end market capitalization do not reach at least ¥1 billion within 9 months (or within 3 months if the Company does not submit to the Tokyo Stock Exchange within 3 months a document describing the current status of its business, future development, improvements to its business plan and other matters deemed necessary by the Tokyo Stock Exchange), the shares will be delisted and can no longer be traded on the listed market, resulting in a significant decline in liquidity.」
The possibility of delisting if monthly average or month-end market capitalization falls below ¥1 billion, and improvement periods of 3 or 9 months, were newly identified as risks.