News Tokyo Stock Exchange to Delist Gonzo on July 30
posted on 2009-06-29 07:57 EDT
The Tokyo Stock Exchange has announced that it will proceed with its delisting of the Gonzo anime studio from its Mothers section on July 30. The Mothers market is intended for high-growth and emerging stocks. The official delisting concludes the process that began last July, when the stock exchange notified investors that Gonzo's financial liabilities exceeded its total financial assets for the fiscal year ending in March of 2008. Since Gonzo did not improve its finances at the end of its last fiscal year on March 31, the paperwork for the delisting was submitted at the end of June.
Gonzo can continue to operate regardless of the delisting. April 1 (the beginning of the fiscal year in Japan) was the first official day that Gonzo's former parent company, GDH, absorbed its subsidiary to consolidate management resources. The newly restructured company is now known simply as Gonzo. The company had already announced in March that it would divest itself of its online gaming subsidiary, Gonzo Rosso.