Risk of Failure to Meet the Prime Market Continued Listing Criteria
First written in FY2022. 2 of 3 entries say "Materialised", first in FY2023. Latest entry: FY2024-Q2.
Titan Kogyo moved to the "Worse" side of this theme in 2023, the same year as the typical company in this theme.
The whole theme swung hardest in 2023: 3 of 17 companies on the "Worse" side.
3 other companies' latest entry also says "Materialised".
- FY2024-Q2MaterialisedAnnual report
「Following the re-selection of our market segment, we changed from the Tokyo Stock Exchange Prime Market effective 20 October 2023.」
The market segment was changed on 20 October 2023 against the backdrop of the failure to meet the Prime Market continued listing criteria. - FY2023MaterialisedAnnual report
「However, the Company's share price remains substantially below ¥4,800, the share price required to meet the continued listing criteria.」
The shortfall against the Prime Market criteria for market capitalization of tradable shares and average daily trading value continued, and the Company resolved to apply for and submitted an application to select the Standard Market. - FY2022First statedAnnual report
「In connection with the Tokyo Stock Exchange's review of its market segments, the Company transitioned to the Prime Market after submitting to the Exchange a plan for meeting the continued listing criteria for the new market segments, because its market capitalization of tradable shares did not meet the Prime Market continued listing criteria. The plan sets a target of operating income of ¥1,300 million in fiscal 2025. To achieve this target, we will pursue enhanced corporate value, expanded shareholder returns and stronger information dissemination, which constitute the basic policies for meeting the continued listing criteria.」
The Company has identified as a new risk the current failure to meet the Prime Market continued listing criterion for market capitalization of tradable shares, along with its compliance plan, including operating income of ¥1,300 million in fiscal 2025.