Market News
Feb. 06, 2023 TSE Designation of Securities Under Supervision (Examination): Asia Development Capital Co.Ltd.
TSE has designated an issue as Securities Under Supervision (Examination) as follows.
| １．Issue Name | Asia Development Capital Co.Ltd. stock (Code: 9318, Market Segment: Standard Market) |
| ２．Period of Designation as Securities Under Supervision (Examination) | From Feb. 7, 2023 (Tue.) to the day when TSE determines whether the company has fallen under the delisting criteria |
| Provision | Enforcement Rules for Securities Listing Regulations, Rule 604, Paragraph 1, Item (13) (Due to the company being deemed likely to fall under a case where the Exchange deems that the internal management system, etc. of the listed company has not been improved on the basis of the written confirmation of the internal management system resubmitted by said listed company) |
| ３．Reason | Asia Development Capital Co.Ltd. (hereinafter "the Company") disclosed an investigation report of the special investigation committee concerning inappropriate accounting processing on Jun. 22, 2021 and disclosed corrections to its past earnings reports on Jun. 30, 2021. With these disclosures, it was found that this is a case of inappropriate disclosures that could have considerable impact on investment decisions, TSE deemed that improvement of the internal management system, etc. of the Company was highly necessary and designated its stock as a Security on Alert on Aug. 7, 2021. On Feb. 7, 2023, one (1) year and six (6) months will have elapsed since said designation, and the Company will resubmit a written confirmation of internal management system at a later date. If the internal management system, etc. of the Company is deemed to have not been improved based on TSE's review of the aforementioned written confirmation, etc., a decision will be made to delist its stock. As such, TSE designates the stock as Securities Under Supervision (Examination). |
Designation History of Securities Under Supervision & Securities to Be Delisted
DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. Tokyo Stock Exchange, Inc. and/or Japan Exchange Regulation shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or changes with regard to this translation.
Enquiry
Tokyo Stock Exchange, Inc. Listing Department, Corporate Disclosure Office, Planning & Coordination, Listed Company Services
TEL:+81-3-3666-0141(Switchboard)