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Status of issues which have entered a grace period, etc.

List of Issues in a Grace Period, etc.

Update : May 10, 2012

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List of Issues in a Grace Period, etc.

Issues which are likely to enter a grace period due to ceasing to be a substantial surviving company due to a merger, etc.

Issues in a grace period due to ceasing to be a substantial surviving company due to a merger, etc.

Issues in a grace period pertaining to the criteria for the number of shareholders

1st Section: Reassignment to the 2nd Section (pertaining to Rule 311, Paragraph 1, Item 1 of the Securities Listing Regulations)

Not applicable.

1st / 2nd Section: Delisting (pertaining to Rule 601, Paragraph 1, Item 1 of the Securities Listing Regulations)

Not applicable.

Mothers: Delisting (pertaining to Rule 603, Paragraph 1, Item 1 of the Securities Listing Regulations)

Not applicable.

Issues in a grace period pertaining to the criteria for the number of tradable shares, etc.

Notice

Extension of implementation period for measures to partially revise the criteria for market capitalization pertaining to listed shares

Of the reassignment criteria to the 2nd Section from the 1st Section and the delisting criteria, TSE partially revised the handling of the criteria pertaining to market capitalization and market capitalization of tradable shares as well as applied such criteria from the end of Jan. 2009 to the end of Dec. 2011. However, in light of current market conditions, TSE shall extend the implementation period of such measures until the end of Dec. 2012.

1st Section: Reassignment to the 2nd Section (pertaining to Rule 311, Paragraph 1, Item 2 of the Securities Listing Regulations)

Not applicable.

1st / 2nd Section: Delisting (pertaining to Rule 601, Paragraph 1, Item 2 of the Securities Listing Regulations)

Not applicable.

Mothers: Delisting (pertaining to Rule 603, Paragraph 1, Item 2 of the Securities Listing Regulations)

Not applicable.

Mothers (Foreign Stocks): Delisting (pertaining to Rule 604, Paragraph 1, Item 1 of the Securities Listing Regulations (relevant to Rule 603, Paragraph 1, Item 2, Sub-item b of the same regulations))

Japaninvest Group plc

Code 3827
Grace Period From Jan. 01, 2012 (Sun.) to Dec. 31, 2012 (Mon.)
Reason Due to the market capitalization of tradable shares on Dec. 31, 2011 being less than JPY 150 million

Issues in a grace period pertaining to the criteria for market capitalization

Notice

Application of the Criteria for Market Capitalization, etc. on Listed Companies Affected by the Great East Japan Earthquake

In light of the effects of the Great East Japan Earthquake which occurred on Mar. 11, 2011, TSE will handle cases of listed companies which, thereafter, fall under the criteria for reassignment to the 2nd Section from the 1st Section (criteria for market capitalization) or the delisting criteria (criteria for market capitalization and criteria for stock price on Mothers) as follows.

  1. As a special measure in response to this disaster, where documents containing descriptions on the current state of business, future developments, improvement of business plans, and other matters deemed necessary by TSE could not be submitted by the original submission deadline (within 3 months after falling under the criteria), such documents may be submitted by Dec. 2011.
  2. In such cases, the grace period for reassignment to the 2nd Section from the 1st Section or delisting shall be until the end of Jun. 2012.
(Applicable Criteria)
Classification Provision
Criteria for Market Capitalization Rule 311, Paragraph 1, Item 4 of the Securities Listing Regulations (Reassignment Criteria)
Criteria for Market Capitalization Rule 601, Paragraph 1, Item 4, Sub-item a of the Securities Listing Regulations (Delisting Criteria)
Criteria for Market Capitalization Rule 603, Paragraph 1, Item 5, Sub-item a of the Securities Listing Regulations (Delisting Criteria)
Criteria for Stock Price on Mothers Rule 603, Paragraph 1, Item 5-2 of the Securities Listing Regulations (Delisting Criteria)
(Reference)
  1. Provisions for application of these measures (Securities Listing Regulations, Rule 311, Paragraph 1, Item 4 and others)
    "provided, however, that where the general market condition rapidly deteriorates, and when TSE deems that these criteria are not appropriate, TSE shall specify the criteria pertaining to the market capitalization of the tradable shares on a case by case basis."
  2. Content subject to application in normal cases (Securities Listing Regulations, Rule 311, Paragraph 1, Item 4 and others)
    Reassignment to the 2nd Section or delisting "where the market capitalization is less than the required value and does not reach at least the required value within 9 months (3 months in cases where the company does not submit to TSE a document containing the present status of the business, future developments, improvement of business plan and other matters deemed necessary by TSE within 3 months)".

Extension of implementation period for measures to partially revise the criteria for market capitalization pertaining to listed shares

Of the reassignment criteria to the 2nd Section from the 1st Section and the delisting criteria, TSE partially revised the handling of the criteria pertaining to market capitalization and market capitalization of tradable shares as well as applied such criteria from the end of Jan. 2009 to the end of Dec. 2011. However, in light of current market conditions, TSE shall extend the implementation period of such measures until the end of Dec. 2012.

Reassignment Criteria from the 1st Section to the 2nd Section Criteria before revision Criteria after revision (by the end of Dec. 2012)
Criteria for Market Capitalization Less than JPY 2 billion Less than JPY 1.2 billion
Criteria for Market Capitalization of Tradable Shares Less than JPY 1 billion Less than JPY 600 million
Delisting Criteria for Main Market (1st / 2nd Section) Criteria before revision Criteria after revision (by the end of Dec. 2012)
Criteria for Market Capitalization Less than JPY 1 billion Less than JPY 600 million
Criteria for Market Capitalization of Tradable Shares Less than JPY 500 million Less than JPY 300 million
Delisting Criteria for Mothers Criteria before revision Criteria after revision (by the end of Dec. 2012)
Criteria for Market Capitalization Less than JPY 500 million Less than JPY 300 million
Criteria for Market Capitalization of Tradable Shares Less than JPY 250 million Less than JPY 150 million
(Note)

In cases where an event that TSE deems inappropriate to continue the application of the "Criteria after revision" occurs, TSE may stop applying such criteria before the end of Dec. 2012 or revise the contents.

1st Section: Reassignment to the 2nd Section (pertaining to Rule 311, Paragraph 1, Item 4 of the Securities Listing Regulations)

Not applicable.

1st / 2nd Section: Delisting (pertaining to Rule 601, Paragraph 1, Item 4 of the Securities Listing Regulations)

Not applicable.

Mothers: Delisting (pertaining to Rule 603, Paragraph 1, Item 5 of the Securities Listing Regulations)

Dreamvisor Holdings,Inc.

Code 3772
Period Specified in the Criteria In cases where the company submits documents containing description on the current state of business, future developments, improvement of a business plan, and other matters deemed necessary by TSE by Jul. 31, 2012, the grace period for delisting shall be from May 01, 2012 to Jan. 31, 2013 (from May 01, 2012 to Jul. 31, 2012 in cases where the company is unable to submit such documents). The stock shall be delisted when the monthly average market capitalization and month-end market capitalization do not reach the required value during the period.
Reason Due to the market capitalization on Apr. 2012 being less than JPY 300 million

Mothers (Foreign Stocks): Delisting (pertaining to Rule 604, Paragraph 1, Item 1of the Securities Listing Regulations (relevant to Rule 603, Paragraph 1, Item 5, Sub-item a))

Not applicable.

Two-yen criterion: Delisting (pertaining to Rule 601, Paragraph 1, Item 4, Sub-item b / Rule 603, Paragraph 1, Item 5, Sub-item b of the Securities Listing Regulations)

Not applicable.

Issues in a grace period pertaining to the criteria for stock price on Mothers

Notice

In light of the effects of the Great East Japan Earthquake which occurred on Mar. 11, 2011, TSE will handle cases of listed companies which, thereafter, fall under the criteria for reassignment to the 2nd Section from the 1st Section (criteria on market capitalization) or the delisting criteria (criteria for market capitalization and criteria for stock price on Mothers) as follows.

  1. As a special measure in response to this disaster, where documents containing descriptions on the current state of business, future developments, improvement of business plans, and other matters deemed necessary by TSE could not be submitted by the original submission deadline (within 3 months after falling under the criteria), such documents may be submitted by Dec. 2011.
  2. In such cases, the grace period for reassignment to the 2nd Section from the 1st Section or delisting shall be until the end of Jun. 2012.

Mothers: Delisting (pertaining to Rule 603, Paragraph 1, Item 5-2 of the Securities Listing Regulations)

Not applicable.

(Note 1) The examination applies to companies listed on Mothers on or after Nov. 09, 2009.

(Note 2) "Public offering price at new listing" is modified based on the effects of stock splits, gratis allotment of shares, reverse stock splits and other acts.

Issues in a grace period pertaining to the criteria for liabilities in excess of assets

1st Section: Reassignment to the 2nd Section (pertaining to Rule 707, Paragraph 3 of the Securities Listing Regulations)

ARRK CORPORATION

Code 7873
Grace Period From Apr. 01, 2011 (Fri.) to Mar. 31, 2012 (Sat.)
Reason The company had fallen into liabilities in excess of assets and is currently under the support of Enterprise Turnaround Initiative Corporation of Japan (hereinafter referred to as "ETIC"). After examining the reconstruction plan based on such support by ETIC announced by the company on Mar. 31, 2011, TSE deemed said plan as appropriate.

1st/2nd Section: Delisting (pertaining to Rule 601, Paragraph 1, Item 5 of the Securities Listing Regulations)

ISHII HYOKI CO.,LTD.

Code 6336
Grace Period From Feb. 01, 2012 (Wed.) to Jan. 31, 2013 (Thu.)
Reason Due to confirmation of liabilities in excess of assets as of the end of the business year

TOYO KNIFE CO., LTD.

Code 5964
Grace Period From Apr. 01, 2011 (Fri.) to Mar. 31, 2013 (Sun.)

*The grace period until delisting has been extended from 1 year to 2 years for listed companies which fell into liabilities in excess of assets at the end of the business year in which special losses caused by the Great East Japan Earthquake on Mar. 11, 2011 occurred.
Reason Due to confirmation of liabilities in excess of assets as of the end of the business year

ARRK CORPORATION

Code 7873
Grace Period From Apr. 01, 2011 (Fri.) to Mar. 31, 2012 (Sat.)

*If the company remains in a state of liabilities in excess of assets on Mar. 31, 2012, and plans to come out of this state under the support of ETIC by Mar. 31, 2013, the grace period for delisting will end on Mar. 31, 2013.
Reason Due to confirmation of liabilities in excess of assets as of the end of the business year

Mothers: Delisting (pertaining to Rule 603, Paragraph 1, Item 3 of the Securities Listing Regulations)

KANMONKAI Co.,Ltd.

Code 3372
Grace Period From Dec. 01, 2011 (Thu.) to Mar. 31, 2013 (Sun.)
(Note) In a general shareholders meeting held on Feb. 24, 2012, the company reached a resolution to change the end of the account settlement period from Nov. 30 to Mar. 31.
Reason Due to confirmation of liabilities in excess of assets as of the end of the business year

YAMATO Ltd.

Code 7853
Grace Period From Oct. 01, 2011 (Sat.) to Sep. 30, 2012 (Sun.)
Reason Due to confirmation of liabilities in excess of assets as of the end of the business year

Realcom Inc.

Code 3856
Grace Period From Jul. 01, 2011 (Fri.) to Jun. 30, 2012 (Sat.)
Reason Due to confirmation of liabilities in excess of assets as of the end of the business year

Mothers (Foreign Stocks): Delisting (pertaining to Rule 604, Paragraph 1, Item 1 of the Securities Listing Regulations (relevant to Rule 603, Paragraph 1, Item 3 of the same regulations))

Japaninvest Group plc

Code 3827
Grace Period From Jan. 01, 2012 (Sun.) to Dec. 31, 2012 (Mon.)
Reason Due to confirmation of liabilities in excess of assets as of the end of the business year

(Note) TSE publicizes whether the state of liabilities in excess of assets is resolved based on the descriptions in a securities report to be submitted after the expiration of the grace period.

Issues under market capitalization examination prescribed in the last sentence of Rule 601, Paragraph 1, Item 7 of the Securities Listing Regulations

Not applicable.

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