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Banking, finance, and taxes

Hitachi Bids Farewell to NYSE (HIT)

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By Paul Ausick Published
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Japanese conglomerate Hitachi Ltd. (NYSE: HIT) has announced that it plans to de-list the company’s ADS on the New York Stock Exchange. The company will file for the voluntary de-listing on April 15th and the effective date will be April 27th.

In its announcement today, Hitachi said it would continue its ADR program and “anticipates that its ADSs will continue to be traded on the U.S. over-the-counter market.”

The company says that trading volumes do not justify the costs of maintaining a listing on the NYSE. Hitachi will also de-list from exchanges in Fukuoka and Sapporo, Japan.

Hitachi also said it would continue to prepare its consolidated financial statements in accordance with US GAAP reporting guidelines.

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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