Failure to meet delisting criteria
First written in FY2019-Q3. 5 of 11 entries say "Materialised", first in FY2019. Latest entry: 2026-10-16.
0 other companies' latest entry also says "Materialised".
- FY2027-H1MitigatedAnnual report
「As the market capitalization of tradable shares is expected to increase through the exercise of stock acquisition rights, we expect to meet the continued-listing criteria for the Standard Market, specifically the criterion relating to the market capitalization of tradable shares.」
Regarding the previously disclosed risk of breaching the continued-listing criteria, it states that compliance is expected through an increase in the market capitalization of tradable shares resulting from the exercise of stock acquisition rights. It does not state that the criteria have already been met. - FY2022DroppedAnnual reportThe 10 business risks in this filing do not directly mention the risk of breaching the delisting criteria that had previously been disclosed.
- FY2020RestatedAnnual report
「If the monthly average market capitalization or month-end market capitalization of our shares falls below ¥1 billion, this would constitute a breach of Article 601, Paragraph 1, Item 4(a) of the Tokyo Stock Exchange Securities Listing Regulations.」
The annual report reiterates the risk of breaching the delisting criteria relating to market capitalization below ¥1 billion. - FY2019MaterialisedAnnual report
「As our month-end market capitalization in February 2019 fell below ¥1 billion, we submitted the above document to the Tokyo Stock Exchange on 21 May 2019.」
It states that market capitalization at the end of February 2019 fell below ¥1 billion, resulting in an actual breach of the delisting criteria. - FY2019-Q3First statedAnnual report
「If the monthly average market capitalization or month-end market capitalization of our shares falls below ¥1 billion, this would constitute a breach of Article 601, Paragraph 1, Item 4(a) of the Tokyo Stock Exchange Securities Listing Regulations. In the event of a breach, if the monthly average market capitalization and month-end market capitalization do not reach ¥1 billion or more each month within 9 months (or within 3 months if a document describing the current status of the business, future development, improvements to the business plan and other matters deemed necessary by the Tokyo Stock Exchange is not submitted to the Tokyo Stock Exchange within 3 months), the shares will be delisted and their liquidity will decline significantly because they will no longer be tradable on the listed market. As our month-end market capitalization in December 2018 fell below ¥1 billion, we plan to submit the above document to the Tokyo Stock Exchange by the end of March 2019.」
It describes the delisting criterion triggered when monthly average or month-end market capitalization falls below ¥1 billion, and explains that month-end market capitalization actually fell below ¥1 billion in December 2018.