Unlike the growing number of companies facing exchange delisting because of stock option-related troubles, consumer electronics player Sanyo Electric Co. Ltd. today announced it will voluntarily take itself off of the Nasdaq and three other exchanges.

The company’s board of directors has resolved to submit applications to delist the company's shares from the Nagoya Stock Exchange, Fukuoka Stock Exchange and Sapporo Securities Exchange, in addition to pulling the Sanyo’s American depositary shares (ADS) from Nasdaq.

Sanyo said the decision is based on the trading volume of shares on the exchanges being “extremely low.” Indeed, Sanyo ADSs on the Nasdaq have an average volume of 6,518 shares and closed Tuesday at $10.26.

The voluntary delistings are expected to have little impact and will cause relatively little inconvenience on the company's shareholders and investors, Sanyo said this morning.

Applications for the voluntary delistings will be submitted to the four stock exchanges in September, at the earliest. The delisting process is expected to be completed by December.

Sanyo will continue to play on the Tokyo Stock Exchange and the Osaka Securities Exchange and has made no arrangements to list its ADSs on another U.S. exchange.