Japan Airlines (Tokyo listing) http://stocks.finance.yahoo.co.jp/stocks/detail/?code=9205.t last price = 1 yen high of day = 2 yen going to be delisted on 20 February 2010: http://www.tse.or.jp/english/listing/delisting/list.html USD/JPY = 90.22 ADRs represent 5 (Japanese) shares http://www.adrbnymellon.com/dr_profile.jsp?cusip=471040105 2 yen / 90.22 * 5 = 0.1108 so the New York listed ADRs "should" be worth about 11 cents (if we assume 2 yen per Tokyo listed share). Japan Airlines (New York listing) http://finance.yahoo.com/q?s=jalsy.pk last price = 2.12 USD Note on 20 January the US listed ADRs hit a low of 20 cents. Is it just me, or this a little crazy?