OSAKA - Panasonic Corp. said Thursday that it will file an application next month to delist its shares from the New York Stock Exchange due to sluggish transactions, marking its departure from bourses outside Japan.
Panasonic listed its shares on the NYSE in 1971 to promote its brand name in the United States. The trading volume of its American Depositary Shares has accounted for just 2 percent of the total trading volume of Panasonic shares including those traded in Japan, the company said.
The firm has already delisted from bourses in countries including France and Germany. New York is currently the only overseas exchange where shares in Panasonic are traded.