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Article: Seibu Railway firms to outsource stock control.
- Article from:
- Yomiuri Shimbun
- Article date:
- October 26, 2004
CopyrightCOPYRIGHT 2004 The Yomiuri Shimbun. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Oct. 26--The Tokyo Stock Exchange has asked Seibu Railway Co. and two of its group firms to outsource the administration of their shares, The Yomiuri Shimbun has learned.
The TSE made the request, which the three firms either already have or are expected to accept, in the wake of a recent scandal over Seibu Railway's falsification of its financial statements.
The TSE made the request to Seibu Railway and two group companies -- Izuhakone Railway Co. and Daiwa Motor Transportation Co., which are listed on the bourse's Second Section.
While all other companies listed on the TSE have outsourced the administration of their shares, such as maintaining ...