Kadokawa Holdings Inc. said Thursday it will make film distributor Nippon Herald Films Inc. a wholly owned subsidiary through an equity swap in August.

Nippon Herald will thereby be delisted from the Jasdaq over-the-counter market on July 27, it said.

The announcement prompted the Jasdaq market to transfer Nippon Herald to the monitoring post.

Kadokawa Holdings, the owner of Kadokawa Shoten Publishing Co., also said it has named Kadokawa Shoten Director Shinya Egawa as chief executive officer of Nippon Herald, which is now 44.07 percent owned by Kadokawa Holdings.

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