Risk of Delisting Due to Failure to Meet Market Capitalization Criteria
First written in FY2020. 2 of 6 entries say "Reframed", first in FY2021-Q1. Latest entry: FY2022.
Oriental Chain Mfg. moved to the "Worse" side of this theme in 2022.
0 other companies' latest entry also says "Reframed".
- FY2022ReframedAnnual report
「In the Tokyo Stock Exchange's simultaneous transition to its new market segments in April 2022, the Company moved to the Standard Market. One of the requirements for maintaining a listing on the Standard Market is market capitalization of tradable shares of at least ¥1 billion, calculated in accordance with the relevant Tokyo Stock Exchange rules, but the Company did not meet this requirement as of March 2022.」
After the grace period relating to the previous market capitalization criterion ended, the focus shifted to the Standard Market listing maintenance criteria under the new market segments. The Company did not meet the requirement for market capitalization of tradable shares of at least ¥1 billion as of March 2022 and is proceeding with measures based on its plan. - FY2021MitigatedAnnual report
「As a result, the Company's shares no longer fell under the Tokyo Stock Exchange's delisting criteria relating to market capitalization, and the Company was released from the grace period relating to market capitalization.」
The company states that, following a revision to the Tokyo Stock Exchange's rules, the applicable market capitalization criterion was removed effective 30 June 2021, and the Company was released from the grace period for the market capitalization-related delisting criterion. - FY2021-Q3RestatedAnnual report
「As the market capitalization of the Company's tradable shares was below ¥500 million as of 31 March 2020, it entered the grace period for delisting from 1 April 2020 through 31 March 2021. However, as the market capitalization of its tradable shares reached at least ¥500 million as of 30 September 2020, it no longer fell under the delisting criteria prescribed by the Tokyo Stock Exchange, and the designation placing it in the grace period for the delisting criteria was lifted.」
The company reconfirms that the market capitalization of tradable shares reached at least ¥500 million on 30 September 2020 and that the designation placing it in the grace period for the delisting criteria was lifted. - FY2021-Q2MitigatedAnnual report
「As the market capitalization of the Company's tradable shares was below ¥500 million as of 31 March 2020, it entered the grace period for delisting from 1 April 2020 through 31 March 2021. However, as the market capitalization of its tradable shares reached at least ¥500 million as of 30 September 2020, it no longer fell under the delisting criteria prescribed by the Tokyo Stock Exchange, and the designation placing it in the grace period for the delisting criteria was lifted.」
The market capitalization of tradable shares reached at least ¥500 million on 30 September 2020, meaning the company no longer fell under the delisting criteria and the designation placing it in the grace period was lifted. - FY2021-Q1ReframedAnnual report
「If the market capitalization of the Company's tradable shares at the end of its fiscal year, calculated by multiplying the closing price at the end of the fiscal year by the number of tradable shares at that date, falls below ¥500 million, the Company will fail to meet Article 601, paragraph 1, item 2(b) of the Tokyo Stock Exchange Securities Listing Regulations. If it fails to meet this criterion, it will be delisted unless the market capitalization of its tradable shares reaches at least ¥500 million within 1 year. As the market capitalization of the Company's tradable shares was below ¥500 million as of 31 March 2020, it entered the grace period for delisting from 1 April 2020 through 31 March 2021.」
Regarding the delisting criteria, the company describes the requirement for market capitalization of tradable shares of at least ¥500 million and the grace period through 31 March 2021. The definition of the applicable market capitalization and the deadline have been updated from the criteria previously described. - FY2020MaterialisedAnnual report
「As of the end of February 2020, the Company's share price resulted in both its monthly average market capitalization and month-end market capitalization falling below ¥1 billion, causing it to fail to meet the delisting criteria. As of 29 June 2020, the Company was in the grace period for delisting. The Company plans to submit the document referred to above by December 2020; even in that case, it will be delisted if both its monthly average market capitalization and month-end market capitalization do not reach at least ¥1 billion by June 2021.」
The company actually failed to meet the delisting criterion of monthly average and month-end market capitalization below ¥1 billion, and describes the grace period through June 2021 and its planned submission of the document.