Konami Delists Itself From The New York Stock Exchange Voluntarily

What is going on with this company?

Posted By | On 29th, Apr. 2015

konami-logo

In the ongoing saga of Konami’s spectacular fall, here is the newest chapter- Konami has announced that it will voluntarily be delisting itself from the prestigious New York Stock Exchange. The delisting is actually effective from April 24.

According to Konami, the reason that they withdrew from the stock exchange makes sense- 99.71 percent of the trading of the company’s stock over the past year occurred in Japan and London. As a result, as a cost savings measure, Konami has decided to get itself delisted, saving itself at least $5 million every year (which, according to Polygon, is the money it spends to comply with U.S. regulations).

The company is still listed on the Japanese and London stock exchanges, however, and shares can still be traded in the U.S. over the counter. Konami has confirmed that, going forward, it has no more legal obligations to share its financial statements and reports in English, though it also reiterated that it does plan on doing so anyway.

We will keep you posted on further developments.


Tagged With:

Amazing Articles You Might Want To Check Out!

Share Your Thoughts Below  (Always follow our comments policy!)



Keep On Reading!

Cyberpunk 2077 and Phantom Liberty Have Generated Roughly $750 Million in Revenue

Cyberpunk 2077 and Phantom Liberty Have Generated Roughly $750 Million in Revenue

In 2023, the action RPG and its expansion raked in roughly $206 million in revenue, CD Projekt has revealed.

The Witcher 4 Has Over 400 Developers Working on it, Still in Pre-Production

The Witcher 4 Has Over 400 Developers Working on it, Still in Pre-Production

Meanwhile, Cyberpunk 2 and Fool's Theory remake of the first Witcher are both in the concept stage of producti...

Predator: Hunting Grounds is Coming to PS5 and Xbox Series X/S in Late 2024

Predator: Hunting Grounds is Coming to PS5 and Xbox Series X/S in Late 2024

Developer IllFonic has taken over publishing for the title, with a new update next month and additional Predat...

Helldivers 2 Patch Fixes Freezes From Arc-Based Weapons and Stratagems

Helldivers 2 Patch Fixes Freezes From Arc-Based Weapons and Stratagems

The new patch ensures the Arc-12 Blitzer, Arc Thrower, and Tesla Tower will no longer cause players' games to ...

Like a Dragon, Judgment Developer is Seemingly Teasing an “Important Announcement” for Monday

Like a Dragon, Judgment Developer is Seemingly Teasing an “Important Announcement” for Monday

But Monday is April Fool's Day, so it could be a whole lot of nothing. Then again, it could be Judgment 3.

Princess Peach: Showtime! Beats Dragon’s Dogma 2 and Rise of the Ronin to Top Weekly Japanese Charts

Princess Peach: Showtime! Beats Dragon’s Dogma 2 and Rise of the Ronin to Top Weekly Japanese Charts

Princess Peach steals the spotlight from both massive, new open world action RPGs in the latest sales charts f...