Business & Investment

Designation (confirmation) of supervisory securities: Onkyo Home Entertainment Co., Ltd.

March 31, 2021 TSE
Designation (confirmation) of supervisory securities: Onkyo Home Entertainment Co., Ltd.

TSE has designated the issuance as a supervisory security (confirmation) as follows.

No. 1 name Onkyo Home Entertainment Co., Ltd.
(Code: 6628, Market Division: JASDAQ Standard)
Designated period as securities under supervision (confirmation) From March 31, 2021 (Wednesday) to the date when TSE determines whether or not it meets the delisting criteria.
Provisioning Securities Listing Regulations Enforcement Regulations, Paragraph 605, Paragraph 1, Paragraph (7)
(TSE considers that the company is likely to fall under Rule 601, Paragraph 1, Item (5) of the Securities Listing Regulations (in accordance with Rule 604-2, Paragraph 1, Item (3) of the same Regulation))
Reason reason Onkyo Home Entertainment Co., Ltd. (hereinafter referred to as the “Company”) has a liability that exceeds its assets as of the end of March 2020, and has a grace period for delisting.
We announced today that as of the end of the fiscal year ending March 2021, we are expected to fall into liabilities that exceed our assets.
Based on this announcement, TSE has designated the Company’s shares as supervisory securities (confirmation) because it may be delisted if the Company does not resolve the excess debt within one year. If it is confirmed that TSE has a liability exceeding assets as of the end of the relevant fiscal year based on the consolidated balance sheet of the securities report submitted by the Company, the Company’s shares will be delisted.
(caution)

  • ・ As of the end of March 2021, the possibility that the Company will have more liabilities than assets is not considered to be due to the occurrence of COVID-19, so Article 727 of the Listing Regulations (related rules: Rule 725 of the same rules) It shall not apply.

Disclaimer: This translation is for reference purposes only. This English version is not an official translation of the original Japanese document. If there is a difference between the English version and the original Japanese version, the Japanese version will take precedence. This translation is subject to change without notice. The Tokyo Stock Exchange and / or the Japan Exchange Regulation shall not be liable individually or jointly for any damages or losses resulting from any errors, inaccuracies, misunderstandings, or changes relating to this translation.

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Designation (confirmation) of supervisory securities: Onkyo Home Entertainment Co., Ltd.

https://www.jpx.co.jp/english/news/1021/20210331-05.html Designation (confirmation) of supervisory securities: Onkyo Home Entertainment Co., Ltd.

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