TSE News

Decision on Delisting, etc. -C&I Holdings Co., Ltd.-

Update : Sep. 05, 2011

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[Tokyo Stock Exchange, Inc.]

TSE has decided on delisting and designation as Securities to Be Delisted as follows.

1. Delisting and Designation as Securities to Be Delisted

(1) Issue Name C&I Holdings Co., Ltd. stock
(Code: 9609, Market Division: 2nd Section)
(2)Period of Designation as Securities to Be Delisted From Sep. 2, 2011 (Fri.) to Oct. 2, 2011 (Sun.)
(3)Delisting Date Oct. 3, 2011 (Mon.)
(Note) In cases where circumstances in which the company should be promptly delisted occur, TSE may change the period of designation as Security to Be Delisted and the delisting date.
(4) Provision Securities Listing Regulations, Rule 601, Paragraph 1, Item 11, Sub-item b.
(due to the fact that “conclusions are not expressed” was stated in a quarterly review report and, in addition, TSE deems that this has a material impact)
(5)Reason C&I Holdings Co., Ltd. (hereinafter "the Company") received a quarterly review report from the audit firm on its consolidated financial statements for the second quarter of the fiscal year ending December 2011 which contained the statement that "conclusions are not expressed".
The audit firm had determined that due to "difficulties in negotiations on financial support with the Resolution and Collection Corporation (hereinafter "the Corporation") from whom it borrows funds for which loan maturity was accelerated, and being unable to foresee a resolution thereof", the Company had fallen under a case in the "Practical Guideline on Quarterly Review" where "in relation to the going concern assumption, the impact on quarterly financial statements of an event or status, of which future closure cannot be foreseen, is complex and wide-ranging".
According to the Company, outstanding borrowings by the Company from the Corporation amounted to 4.393 billion yen, accounting for a large portion of its consolidated liabilities in excess of assets totaling 5.558 billion yen. In addition, the Company continued to be in a state of liabilities in excess of assets in the second quarter of the year ending December 2011 from the last consolidated accounting year. Its total amount of liabilities in excess of assets is 3.473 billion yen. Under such circumstances, the Company approached the Corporation to negotiate on financial support and explore methods therefor. The Corporation did not accept measures taken by the Company to resolve the event or status which raised significant doubts over the going concern assumption, and indicated its firm stance. The Company then received a written request from the Corporation demanding repayment of its debt in full, and further negotiations have yet to be scheduled.
In light of these circumstances, TSE cannot, in any way, deem that material information forming the basis of investment decisions is being disclosed appropriately. In addition, TSE deems that if this case is left alone, it will significantly undermine trust in the securities market and have a material impact.

2.Exclusion from Securities in Lieu of Money

Stock of the same company will be excluded from securities in lieu of money for the following items from Sep. 5, 2011 (Mon.) inclusive.
- Customer margin for margin trading and when-issued transactions
- Trading margin for when-issued transactions
- Trading participant security money
- Participant bond

DISCLAIMER: This translation may be used only for reference purposes. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. Tokyo Stock Exchange, Inc., Tokyo Stock Exchange Group, Inc., and/or Tokyo Stock Exchange Regulation shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, or misunderstanding with regard to this translation.

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Tokyo Stock Exchange, Inc.
Listing Department
Listed Company Services
Phone:+81-3-3666-0141(Switchboard)

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