Konami today voluntarily delisted itself from the New York Stock Exchange, effective April 24.
Konami first notified investors of plans to delist in November and filed the notice on April 1, according to SEC documents. In today's filing, Konami notes that 99.71 percent of the trading of the company's stock over the past year occurred in Japan and London.
In the April 1 filing, Konami officials said the decision to delist the company from the New York Stock Exchange was a cost savings measure. U.S. regulatory compliance costs the company a minimum of $5 million a year, analyst Michael Pachter told Polygon.
[. . . ]
It's unclear what if any impact this might have on the company moving forward. In today's release, Konami officials wrote that the company will still share financial statements and other information in english, though they will no longer be obligated to under the Exchange Act.
[. . . ]
The news comes hours after the company confirmed that it had killed off Silent Hills, the latest in the survival horror franchise. The game was to involve the work of Hideo Kojima and Guillermo del Toro and feature the likeness of Norman Reedus.
Last month, Konami removed Kojima's name and the Kojima Productions logo from the official Metal Gear Solid websites, Twitter accounts and marketing materials. That spawned reports that Kojima would be leaving the publisher for whom he has worked his entire career.
Today Jimquisition released an update to his original video detailing the clusterfluck bomb that is this company. (Commentary is NSFW.)
There's also this video, which goes into (admittedly unsubstantiated) detail about the working conditions at the company itself and how that seems to explain the known facts about how Konami has been behaving lately.
Actually, the GameIndustry article mentions how Konami removing itself from the NYSE isn't anywhere near as big of a deal as some may initially think.
The article wrote:
Although the removal of Konami's stock from the exchange seems like big news, it's actually a relatively small technical change. Konami's primary listing, unsurprisingly, is on the Tokyo Stock Exchange; up until now, it has also maintained listings in London and New York. In the past year, over 97 per cent of trades in Konami's shares happened in Tokyo. A further 2 per cent were in London. Only 0.3 per cent were in New York. It costs money to maintain a listing on the NYSE; it makes no sense to spend that money in order to support such an insignificant volume of trades. Konami's shares remain traded in Tokyo and London, so it's not remotely the case that the NYSE delisting represents some kind of attempt to take the company private or shelter it from the fallout from recent negative news.
Even with that said though, Konami's gone completely apeshit; and honestly, at this point, who's going to miss them when they inevitably pull out of the video game industry? From the lackluster Castlevania reboot that nobody seemed to really like past the first one (I didn't even like it at all, but I digress) to the lousy treatment of the Silent Hill franchise (I ain't a fan of the franchise, but I feel bad for all of those who are) and all the BS Hideo Kojima and his staff are going through now (you don't just try to remove the guy's name from his nearly 30-year legacy and get away with it). After Metal Gear Solid 5 The Phantom Pain comes around, I'm done with them; they've become such a joke in recent years. Congrats Konami, you have somehow become a more hated company then even Capcom; have fun with your slot machine shit. See ya, you won't be missed. Hopefully someone else will come around and take better care of their IPs.
Sora G. Silverwind wrote:
Must've seen this picture at least 3 times now and it's still just as hilarious as the first time.
Quote:
I’m more sad for Hudson and the few good developers at Konami than anything.
Just a minor edit to more accurately portray how I feel about the situation, but I'm confident that they will all get by in the industry without Konami (especially Hideo Kojima; guy's name is simply too big to not find a job in the industry).
The one good thing that came out of this is that I became a fan of Super Bunnyhop's videos; guy's so smart and entertaining too.
_________________ The Local Video Gaming Lunatic
Recent stuff I'm into:
Watching: A Certain Scientific Railgun (ep.14, stalled), Hoshi no Kirby (ep. 71, stalled), Nazo No Kanojo X (ep. 8), Acchi Kocchi (ep. 8)
Reading: nothing
Granted, again, this is not quite substantiated information (he doesn't have any hard correspondence to show that Konami was responsible for those listings being deleted), but given everything else, it's not an impossible conclusion to draw.
Wow! That's shocking! I mean it seemed they were going a bad route but I didn't expect them to actually do it. Makes me wonder what the point of the legacy survey was. Hopefully not just for mobile games.
Search Forum
Member List
Chat
Control Panel
Private Messages
Register
Log in
