Polaris Meets Listing Criteria, Supervision Designation to Be Lifted April 23
The Tokyo Stock Exchange will lift Polaris' (TYO:3010) "securities under supervision" designation on April 23, after the company confirmed it met all continued listing criteria as of March 31, according to a Tokyo bourse filing on Wednesday.Generally, stocks under supervision face possible delisting, typically due to unmet market capitalization, liquidity, or governance standards.The hotel operator's tradable share ratio improved to 25.2%, exceeding the required 25% threshold. Its shareholders reached 10,453, tradable shares totalled 590,454 units, while the market capitalization of tradable shares stood at more than 11 billion yen.The compliance shortfall as of March 31, 2025, was primarily caused by a decline in the tradable share ratio following a share exchange during the integration with Minacia, effective Dec. 27, 2024.Following discussions with experts, financial institutions, and its major shareholder, Star Asia Group, a portion of shares was transferred to third parties, enabling Polaris to regain compliance.
