Market News
Jul. 15, 2026 TSE Designation of Securities Under Supervision (Examination): Showa Holdings Co.,Ltd.
TSE has designated an issue as a Security Under Supervision (Examination) as follows.
| １．Issue Name | Showa Holdings Co.,Ltd. stock (Code: 5103, Market Segment: Standard Market) |
| ２．Period of Designation as Securities Under Supervision (Examination) |
From Jul. 14, 2026 (Tue.) to the day when TSE determines whether the company has fallen under the delisting criteria |
| Reason (Related Clause) |
Due to the company having violated the provisions of the Matters to Be Observed in the Code of Corporate Conduct (Development of System and Structure Necessary to Ensure Appropriateness of Business), and it being recognized that there is a significant need for improvement of the internal management system, etc., thereby raising concerns that the company may fall under a case where the Exchange deems that the internal management system, etc. of the company is unlikely to be adequately developed or unlikely to be adequately implemented. (Enforcement Rules for Securities Listing Regulations, Rule 604, Paragraph 1, Item (12) Securities Listing Regulations, Rule 503, Paragraph 1, Item (4) Securities Listing Regulations, Rule 601, Paragraph 1, Item (9), a) |
| ３．Details of Reason | Showa Holdings Co.,Ltd. (hereinafter “the Company”) disclosed “Inability to Appoint Representative Directors: Current Management Status and Future Policy” on July 8, 2026. In light of this, TSE conducted inquiries and interviews with the Company to confirm the actual situation as to whether TSE should deem that the internal management system, etc. of the Company is unlikely to be adequately developed or unlikely to be adequately implemented due to the Company falling under the case set forth in Rule 503, Paragraph 1, Item (4) of TSE’s Securities Listing Regulations (violation of provisions of Development of System and Structure Necessary to Ensure Appropriateness of Business) and the case in which there is a significant need for improvement of the internal management system, etc. As a result, the following facts were revealed: - The board of directors has been unable to function on an ongoing basis due to the lack of cooperation from three directors who are members of the Audit and Supervisory Committee, making it impossible for decisions to be made regarding the appointment of Representative Directors and other important matters. Accordingly, the decision making and supervisory systems are not functioning. - The Company has not completed the handover of items, such as its registered seal, accounting books, and bankbooks, from the former management, and is unable to sufficiently ascertain their whereabouts and management status. Accordingly, the Company has not established a system that enables it to properly conduct financial reporting. - Although the Company has explained that it is looking into its management and operational systems following the loss of its principal subsidiary, no specific details have been presented, and the effectiveness of such measures cannot be confirmed. In light of the above, if, as a result of subsequent examinations, TSE deems that the internal management system, etc. of the Company is unlikely to be adequately developed or unlikely to be adequately implemented, the Company will fall under the delisting criteria. Accordingly, TSE deems that the Company’s stock is likely to be delisted, and therefore designates such stock as a Security Under Supervision (Examination). |
Current Designations of Securities Under Supervision & Securities to Be Delisted
Designation History of Securities Under Supervision & Securities to Be Delisted
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)