Konami delists itself from New York Stock Exchange + cancels Guillermo del Toro's Silent Hills game

[Mandilinn]

 

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.

 

Konami remains listed in London and Toyko, and shares can still be traded in the U.S. on the over-the-counter market, according to the release.

 

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 company will be deregistered with the SEC effective July 12, reporting obligations will be terminated July 23.

 

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.

 

Source: http://www.polygon.com/2015/4/27/8503893/konami-delists-itself-from-new-york-stock-exchange

[Kpoposaurus]

looks like mgs5 is going to be a swan song.

[Sad Party Queen]

WHAT! the new silent hill game? SILENT HILLS?

 

 

[Mandilinn]

WHAT! the new silent hill game? SILENT HILLS?

 

 

 

They're also removing the demo (P.T.) from PSN. 

[Nowhere Boy]

I wonder how the game would've turned out

[ellectrified]

Wow, the Silent Hills game got cancelled? Just wow, after the hype of P.T. (which was scary as fuck)

 

Well, I guess there are indeed unexpected things in this life...

[straycat]

Konami's been shit for years. Serves them right for ruining my most favorite video games series

 

Tbh I'm hating on almost every video game company nowadays except for Nintendo and Sega.

 

Too bad about SH though :(

[timpa]

UUDDLRLRBA

[abra]

They'll be crashing down at this rate

[Sad Party Queen]

They're also removing the demo (P.T.) from PSN. 

NOOOOOOOO!

 

When will they do this?! I don't have the game demo on my PS!!

 

 

 

This game could have been their saving grace, do they not see that? The hype built around it was superb, I came across plenty of people who got into the Silent Hill series because of that demo.

[Capo Horn]

Like i already said to Mandi,i don't see a bright future for Konami. The departure of Kojima is a bit shot to fall for them and the decision to cancel this game is not really good looking for them....

[Irrelephant]

Will they still be making yugioh cards?

[Step]

NOOOOOOOO!

 

When will they do this?! I don't have the game demo on my PS!!

 

 

 

This game could have been their saving grace, do they not see that? The hype built around it was superb, I came across plenty of people who got into the Silent Hill series because of that demo.

 

Well, they fired Hideo Kojima, the developer, not that long ago, so I kind of suspected it would happen.

 

Shame =/