Konami has announced it will voluntarily be de-listed from the New York Stock Exchange, taking effect from 24 April. As a result Konami will be de-registered with the SEC from 12 July, meaning they are no longer required to report to the SEC on their operations. You can read the full statement from Konami here.
This isn’t as big a deal as it sounds. In their filing with the SEC, Konami explains its decision as due to to only a “small fraction” of total trading volume of their shares occurring in the NYSE, with most trade activity taking place on the London and Tokyo exchanges. Konami indicate this is due to the increased trading on the Japanese stock exchanges due to higher reporting standards being implemented in Japan over the last decade.
This move was started in November 2014, so it isn’t a knee-jerk reaction to the separation of Konami and their biggest development partner, Kojima Productions or the cancellation of Silent Hills. Konami has been moving for some time towards the gambling definition of ‘gaming’ and distancing themselves from video games. Their most recent financial results certainly don’t indicate a fiscal reason for the removal.
Thanks to Polygon for tracking down the SEC filings and official documents for the move.
This article may contain affiliate links, meaning we could earn a small commission if you click-through and make a purchase. Stevivor is an independent outlet and our journalism is in no way influenced by any advertiser or commercial initiative.
