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 last fiscal year, ending in March 2008.

GDH's net loss for the period was 3.75 billion yen ($35 million), leaving it with payable debt that exceeds its possessed assets. According to the rules of the Mothers market, which specializes in start-up companies, GDH's financial straits make it a candidate for delisting. If GHD cannot erase its capital deficit by the end of the current fiscal year, on March 31, 2009, it will be delisted by Mothers.

Delisting would not spell doom for the company and its investors, who could still receive dividends and exercise thier 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 toon content 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 that won a number of awards in Japan and abroad.

© Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.

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