Update : Mar. 12, 2012
[Tokyo Stock Exchange, Inc.]
TSE has designated an issue as Securities Under Supervision (Examination) as follows.
|1. Issue Name||
SANSUI ELECTRIC CO., LTD. stock
(Code: 6793, Market Division: 1st Section)
|2. Period of Designation of Securities Under Supervision (Examination)||From Mar. 7, 2012 (Wed.) to the day when TSE determines whether the company has fallen under the delisting criteria|
Enforcement Rules for the Securities Listing Regulations, Rule 605, Paragraph 1, Item 22
(When there is a likelihood of falling under the case where the exchange deems delisting is appropriate for the public interest or the protection of investors)
SANSUI ELECTRIC CO., LTD. (hereinafter "the Company") disclosed today that it would postpone its annual general shareholders meeting and that there are no prospects for holding the meeting in its release "Notice of Postponement of the 75th General Shareholders Meeting".
According to this disclosure, the Company's group recorded continuous operating losses. While in a state of liabilities in excess of assets, the Company reached a financial state where a payment of JPY 22 million (including employee salaries) is overdue, and fund-raising from a financial institution, etc. would be extremely difficult. In addition to being unable to incur the costs involved in calling and holding the regular general shareholders meeting, the Company's board of directors is unable to discuss and vote on the agenda which should be submitted at the annual general shareholders meeting.
In consideration of these circumstances, TSE has determined that there is a likelihood of the Company falling under a case where delisting is deemed appropriate for the public interest or the protection of shareholders and designated the Company's stock as a Security Under Supervision (Examination).
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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