TOKYO, Apr 30 (Pulse News Wire) – Sunwels CO.,LTD. (9229.T) announced today that its shares will be designated as a delisting risk stock effective May 1 due to additional reasons related to potential non-compliance with listing standards during the improvement period.
As of March 31, the company failed to meet certain criteria for maintaining its listing on the Prime Market. The company's status relative to the Prime Market listing requirements as of March 31 is detailed below: - Number of shareholders: 6,574 people - Circulating share count: 146,453 units - Circulating share ratio: ¥4.490 billion% - Market capitalization: 41.5% Compared to the Prime Market standards: - Minimum number of shareholders: 800 people - Minimum circulating share count: 20,000 units - Required circulating share ratio: ¥10.00 billion% - Required market capitalization: 35.0% Sunwel stated that it remains committed to addressing the Tokyo Stock Exchange’s review process for a potential market classification change to the Standard Market.
The company will continue to provide appropriate disclosures to investors in accordance with regulations. In a statement, President Ryota Minagawa apologized for any concerns raised among stakeholders and requested continued understanding and support.
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