Pink sheet listings do not have to meet regulatory requirements set up by the NYSE, AMSE, or NASDAQ. It is not an ADR, is not required to make regular reports and effectively can save the company money since it doesn't spend time and money on compliance issues. It also, therefore, carries a slight bit more risk. I do find it interesting that a large cap stock like Toshiba doesn't, but it is more a reflection of management. Compared to purchasing and ADR or ADS which meets many more requirements because this represents stock held by a US brokerage firm. Both are subject to currency risk and the fluctuations of both local country and US markets. Nidec (NJ) is a Japan based electronics company that trades as an ADR..you can look at them both and compare.