Nakamichi Seeks Protection
One of the most revered names in the audio industry is seeking legal protection from its creditors. On November 19, <A HREF="http://www.nakamichi.com">Nakamichi Corporation Japan</A> "applied to the court of Japan for a civil rehabilitation," in the words of a company press release on the development, issued the next day. On the 19th, Nakamichi stock closed at ¥22/share (approximately 17¢); the Tokyo Stock Exchange announced that the company would be de-listed effective May 20.