Going Dark: Konami Announces Voluntary Delisting of its American Shares From the New York Stock Exchange
Well that escalated quickly. Following the news that Guillermo Del Toro and Hideo Kojima’s Silent Hills had been scrapped, it seems that there’s more brewing at the house that Contra built. On April 24th, Konami Corporation published a letter stating that the company requested a voluntary delisting of its ADS (American Depository Shares) form the New York Stock Exchange. The investement industry term for this kind of move is “going dark”.
In essence, it means that Konami will — for the time being — no longer be a publicly traded company in the US. This in no way shape or form should be interpreted that the company is headed towards any kind of liquidation of its assets. In fact, Konami has a very successful arm of its business in casino gaming machines (totally serious). This change just means that, for now, the company will take the time to strategize and plan for its business going forward without having to report it to the securities and exchange commissions (or even its own investors for that matter).
The company will officially go dark on July 12th of this year, and will no longer be obligated to report to the SEC (or investors) under the Exchange Act.
We’ll be paying close attention to see how it plays out for Konami in the long run and remain optimistic for one of gaming’s storied publishers.