There were 124 delistings in 2025, the highest number on record, with the surge in TOBs and TOPIX stock selection cited as contributing factors. 九州電力 and 小林製薬 were delisted in the same week, but the reasons were reported to differ.
There were 124 delistings in 2025, the highest number on record. Many are said to have resulted not from bankruptcies but from the restructuring and selection of stocks in the equity market.
The surge in TOBs and TOPIX stock selection has emerged as a feature of the period and is attracting attention as a factor behind the delistings. It has been suggested that this is leading to changes in companies' market segments and shareholder structures.
The delistings of 九州電力 and 小林製薬 were reported in the same week, although each was said to have been delisted for different reasons. The specific breakdown is detailed in the article.
The trend is attributed to broader market restructuring and more rigorous stock selection, and delisting activity is expected to remain a focus of attention.