Konami Pulls Itself from the New York Stock Exchange

[Shawn Zipay]

Hot on the heels of the news of Silent Hills' cancellation comes word that Konami has delisted itself from the New York Stock Exchange. Konami Corp. voluntarily pulled all of its American Depositary Shares (ADS) prior to the opening of trading on April 24.

Konami issued a statement (PDF) as to why they decided to remove themselves from the NYSE. They note that the move was "not economically justified" because the shares traded on the NYSE were "only a small fraction of the total trading volume of its shares." The company also filed a form with the U.S. Securities and Exchange Commission (SEC) on Friday to "terminate its reporting obligations" in the United States.

Konami stated that they will continue to disclose its financial statements and other pertinent company information in English to "ensure that its overseas shareholders and investors will continue to have appropriate information." Konami also notes that they will maintain its listings on the Tokyo Stock Exchange and the London Stock Exchange.