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ORIENT WATCH TO LOSE TSE LISTING DUE TO NEGATIVE NET WORTH.
TOKYO, April 1 Asia Pulse - Orient Watch Co. (TSE:7764) said Monday that it is giving up hope of staying listed on the Tokyo Stock Exchange.
In fiscal 2002, the watchmaker appears to have fallen into negative net worth for the fourth consecutive year on a consolidated basis and for the third straight year on a parent-only basis, an estimate that falls short of the TSE's listing standards.
The company could not generate enough profit to eliminate its negative net worth. It also failed to receive a capital injection from its parent, Seiko Epson Corp.
The TSE said that it will place ...
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