TSE flags Broadmedia stock for likely delisting after takeover bid approval
Tokyo Stock Exchange has placed Broadmedia Corporation shares under a supervisory designation ahead of a possible delisting, triggered by the company's approval of a takeover bid. This briefing covers the mechanics of that designation, the two delisting pathways now in play, and the timeline TSE has set for resolving the matter.
- TSE designated Broadmedia Corporation stock (Code: 4347, Standard Market) as a Security Under Supervision (Confirmation) effective Oct. 29, 2026.
- The designation lasts until TSE determines whether the company falls under the delisting criteria.
- Broadmedia has approved a takeover bid from NSSK-EPSILON1 Co., Ltd. that may result in delisting.
- Delisting would occur if the bidder demands a cash-out approved by the company, or if a share consolidation proposal reducing minority holdings to fractional shares is approved by shareholders.
- The designation is made under Enforcement Rules for Securities Listing Regulations, Rule 604, Paragraph 1, Items (23) and (24).