Japanese market may drop GDH

Umbrella co. for animated content in major debt

TOKYO — Toon maker GDH is in danger of being delisted by the Mothers section of the Tokyo Stock Market after posting poor results for the fiscal year ending in March.

GDH’s net loss was 3.75 billion yen ($35 million), leaving it with debt that exceeds its assets. If GHD cannot erase its capital deficit by the end of the fiscal year March 31, 2009 it will be delisted, according to the rules of the Mothers market, which specializes in start-up companies.

Delisting would not spell doom for the company and its investors, who could still receive dividends and exercise their rights as shareholders, but it would make it difficult to buy and sell GDH shares.

Launched in 2000, GDH is an umbrella company for several toon-related outfits, releasing such work under the Gonzo brand.

Titles include the “Afro Samurai” TV action series, the 2006 “Brave Story” action/fantasy feature, which Gonzo made in cooperation with Fuji TV and Warner, and “Summer Days With Coo,” a 2007 family feature by Keiichi Hara.

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