Giant Japanese shipowner NYK Line is applying to delist its shares in Nagoya as part of streamlining efforts.
The company said directors had agreed to remove the stock from the Nagoya Stock Exchange.
The Tokyo listing will be retained.
NYK said the move was being made to "streamline operations associated with dual listings".
The application will be made on 5 November. The delisting should follow a month later.
Profit rising
The announcement comes a month after NYK made an upward revision of its profit forecast in the second-quarter of its current fiscal year.
This was attributed to a better-than-expected performance by liner operator One Network Express (ONE), which is a joint venture between Mitsui OSK Lines and K Line.
NYK is forecasting operating earnings to be ¥15bn ($123m) up to 30 September, a rise from a previous prediction of break-even.
But the shipowner said it expects to register an ¥18bn extraordinary loss through the early termination of long-term capsize bulk carrier charter contracts.
The company is considering cutting back its capesize chartered fleet because of the impact of the coronavirus pandemic on trade.
NYK is targeting ships with long-term contracts at fixed costs but no long-term cargo contracts.
TradeWinds understands it plans to remove six capesize bulk carriers from its fleet.
