Hitachi Bids Farewell to NYSE (HIT)
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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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Paul Ausick has been writing for 247Wallst.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.
