Oki Electric Industry Co. shares plunged the most in at least 37 years in Tokyo after the company said its Spain unit overstated accounts and it will miss the deadline for filing financial reports, prompting the Tokyo bourse to put the company on watch for possible delisting.
The stock plunged as much as 41 percent, the most since at least Sept. 11, 1974, to ¥72. The shares ended at ¥79 at the day's closing at 3 p.m.
Oki Systems Iberica, based in Madrid, overstated the accounts, which may trim earnings by about ¥8 billion ($102 million), the maker of automated teller machines said in a statement Wednesday.