Konami delists itself from New York Stock Exchange

FreeAgent · Apr 27, 2015

Apr 27, 2015

Konami today voluntarily delisted itself from the New York Stock Exchange, effective April 24.

Konami first notified investors of plans to delist in November and filed the notice on April 1, according to SEC documents. In today's filing, Konami notes that 99.71 percent of the trading of the company's stock over the past year occurred in Japan and London.

In the April 1 filing, Konami officials said the decision to delist the company from the New York Stock Exchange was a cost savings measure. U.S. regulatory compliance costs the company a minimum of $5 million a year, analyst Michael Pachter told Polygon.

Konami remains listed in London and Toyko, and shares can still be traded in the U.S. on the over-the-counter market, according to the release.

It's unclear what if any impact this might have on the company moving forward. In today's release, Konami officials wrote that the company will still share financial statements and other information in english, though they will no longer be obligated to under the Exchange Act.

The company will be deregistered with the SEC effective July 12. Reporting obligations will be terminated July 23.

The news comes hours after the company confirmed that it had k!lled off Silent Hills, the latest in the survival horror franchise. The game was to involve the work of Hideo Kojima and Guillermo del Toro and feature the likeness of Norman Reedus.

Last month, Konami removed Kojima's name and the Kojima Productions logo from the official Metal Gear Solid websites, Twitter accounts and marketing materials. That spawned reports that Kojima would be leaving the publisher for whom he has worked his entire career.
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WhiteThinDuke · Apr 27, 2015

Apr 27, 2015
please please please please don't let MGS V be affected

CODEiNE DEMON · Apr 27, 2015

Apr 27, 2015

WhiteThinDuke said

please please please please don't let MGS V be affected
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It's a cost saving measure if anything it'll positively effect MGSV

WhiteThinDuke · Apr 27, 2015

Apr 27, 2015

Skippy said

It's a cost saving measure if anything it'll positively effect MGSV
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how so?

CODEiNE DEMON · Apr 27, 2015

Apr 27, 2015

WhiteThinDuke said

how so?
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Stocks still up in other parts of the world where they are actually making a profit. New York was costing more than gaining

Juney Dark · Apr 28, 2015

Apr 28, 2015
Silent Hills has been cancelled too... bummer.

Final · Apr 28, 2015

Apr 28, 2015
kojima stay winning tbh

BorisTheBlade · Apr 28, 2015

Apr 28, 2015
d---! Was looking forward to Silent Hills!

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