American multinational investment banking and financial services corporation Citigroup has announced it will apply for the delisting of its common stock from the Tokyo Stock Exchange.
Delisting is expected to come into effect by the end of August 2016, subject to receipt of Tokyo Stock Exchange (TSE) approval. Citi has been in Japan since 1902, and emphasised that the delisting from the TSE will not affect the firms businesses in the country.
The firm said that Japan remains an important market to which is committed to further strengthening its capabilities to better serve its corporate and institutional clients in Japan.
Veteran Departs
It has also been reported that Tsutomu Fujita has resigned as Citigroup's Vice Chairman in Japan, ceasing to be an employee of the U.S. bank where he has held various positions during his 16 years with the bank.
Fujita joined the firm’s Japanese brokerage unit in 2000 and worked as Chief Equity Strategist. Before joining the firm, he worked for more than 15 years at Yamaichi Securities and at a division of Merrill Lynch.
