Japanese gaming giant Konami Group Corporation said Thursday it will consider whether to reduce its stock trading unit in order to broaden its investor base.
In a Tokyo Stock Exchange filing, the company noted that the investment unit of its shares was valued at JPY500,000 (US$3,110) as of 31 March 2024 and therefore in breach of Article 409 of the Tokyo Stock Exchange’s Securities Listing Regulations.
Article 409 calls for such investment units to be lower than JPY500,000 in order to ensure individual investors are able to invest.
Konami said Thursday that it “recognizes that the reduction of stock trading unit is one of the effective measures to increase the liquidity of the stock market and to promote the participation of a broad investor base.”
As such, it would “consider the issue as necessary, taking into account the relevant factors such as share price, stock market trends and the liquidity of the company’s shares.”
Konami is a leading developer of console and arcade games, operates fitness clubs across Japan and is also one of the region’s leading slot machine and gaming systems developers.
The company recently reported profit attributable to the owners of JPY34.9 billion (US$217 million) for the 12 months to 31 March 2024.
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