Japanese animation company Gonzo’s ongoing financial issues have forced it to delist from the Mothers section of the Tokyo Stock Exchange, effective July 30.
The decision was made according to the rules of the exchange, which state that a company must prepare for delisting if its been in the red for two straight years.
The company reported that its debts exceeded it assets for the fiscal year that ended in March. It is currently restructuring and plans to cut its creative staff from 130 to 30 in the next five years.
Gonzo is best know for the series Afro Samurai and its feature follow-up Afro Samurai: Resurrection.
