Update : Nov. 29, 2013
|Criteria for Delisting of Stocks listed on JASDAQ|
|Items||Number of Shareholders(Note 1)||Less than 150 (1 year grace period applies)|
|Tradable Shares||Number of tradable shares (Note 2)||Less than 500 units (Note 3) (1 year grace period applies)|
|Market Capitalization of tradable shares(Note4)||Less than ¥250 million (Less than ¥150 million, as a temporary measure until the end of Mar. 2014)
(1 year grace period applies)
The operating income (Note 6) and the cash flow in operating activities (Note 7) for the 4 most recent consolidated fiscal years (Note 5) are negative and this state is not resolved within 1 year.
*For a company listed on JASDAQ Growth, excluding cases where the 4 most recent consolidated fiscal years includes the 5 fiscal years prior to the fiscal year following that in which the company made its listing application (i.e., excluding JASDAQ Growth-listed companies in the first consolidated fiscal year following that of the listing application).
|Stock Price (Note 8)||In the event that it is less than \10, it does not increase to \10 or above within 3 months|
|Liabilities||Liabilities exceed assets and this state remains unchanged for 1 year (as a general rule, based on consolidated balance sheets)|
|Profits||In the event where the operating income for the consolidated fiscal year of a listing application (Note 9) is negative and the operating income for the 9 fiscal years after it is listed are negative, the operating income of the listed company's corporate group (Note 6) does not become positive within 1 year.
*Only for companies listed on JASDAQ Growth
|Others||Suspension of bank transactions, bankruptcy/rehabilitation/reorganization proceedings or liquidation, suspension of business activities, inappropriate merger, etc., impairment of soundness of transactions with a controlling shareholder (in case of change in the controlling shareholder due to a third-party allotment), delay in submission of securities reports/quarterly reports, false statement in securities reports, etc., violation, etc. of the listing agreement, failure to delegate shareholder services to an agent, restriction on transfer of shares, becoming a wholly-owned subsidiary, failure to be subject to handling by the designated book-entry transfer organization, unreasonable restrictions on shareholders' rights, acquisition of all shares, involvement of anti-social forces, and others (public interest and investor protection)|