The Bank of New York has been appointed depositary bank by ACOM CO., LTD. (ACOM) for its sponsored American depositary receipt (ADR) program. Four ACOM ADRs represent one ordinary share. The ADRs trade on the over-the-counter market under the symbol “ACMUY,” and the ordinary shares trade on the Tokyo Stock Exchange.
Tokyo-based ACOM provides consumer financial services, which are divided into four business segments: loans, credit cards, installment sales finance, and guarantees.
Shigeyoshi Kinoshita, president and chief executive officer of ACOM, said, “Once we decided to establish a sponsored ADR program, we wanted to work with the depositary bank that would help generate the greatest visibility for our program in the United States. We are confident that The Bank of New York’s expertise and market outreach initiatives can do just that.”