All 6 stock exchanges in Japan, Tokyo Stock Exchange (“TSE”), Osaka Securities Exchange (“OSE”), JASDAQ Securities Exchange (“JASDAQ”), Nagoya Securities Exchange, Fukuoka Securities Exchange, and Sapporo Securities Exchange, announced on January 13, 2009 to ease the delisting criteria of market capitalization due to the recent decline in the stock prices.
TSE and OSE had already announced, on October 2008, to suspend the delisting criteria of market capitalization until the end of 2008.Although the suspension period had ended, TSE and OSE decided to extend their regulations systematically since the market has not seen significant improvement. Sharing common issues, other exchanges had also agreed to collaborate. The ease of regulations at all exchanges is tentative and scheduled to expire on December 31, 2009.
Notes
1. The delisting criteria for delisting were eased by 40% for all markets.
2. “Market Capitalization” is calculated by; Outstanding shares share price per share
3. When this “market capitalization” falls under the criteria for a certain period, the shares will become delisted under a procedures of the stock exchanges.
The ease of regulations will prevent about 40 issuer companies from being assigned to Securities Under Supervision” at TSE. Also, the shares of ERGO-BRAINS INC (ISIN: JP3167590003) will be released from “Securities Under Supervision (Confirmation)” at OSE due to the ease of regulations. However, there is little impact since the shares were tradable when assigned to “Securities Under Supervision”.
D.C.