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JPX group companies undertake various initiatives and disseminate information with the aim of providing the most attractive markets to all users.
Every month, we showcase the highlights of these efforts in short and concise summaries just for you.
Regarding TOPIX New Index Series and TOPIX Style Index Series, beginning March 4, 2024, JPX Market Innovation & Research, Inc. (JPXI) began calculating the “TOPIX Micro Cap,” and new types of indices for large-cap and mid-cap stocks, in which the constituents of the TOPIX 500 Value and the TOPIX 500 Growth Indices are each classified into the constituents of the TOPIX Core30, the TOPIX Large70, and the TOPIX Mid400.
JPXI aims to enhance convenience of TOPIX New Index Series and TOPIX Style Index Series through these calculations.
Japan Exchange Group, Inc. (JPX) published JPX Working Paper, Vol. 43 "Automated Determination of TCFD Recommended Disclosures through Zero-shot Text Classification Using Large Language Models." This research proposed a method for mechanically evaluating the fulfillment status of TCFD recommended disclosures in the annual securities reports of listed companies through zero-shot text classification using large language models.
(Note) The contents and opinions of the published papers belong to the individual authors and do not represent the official views of JPX Group companies or the organizations to which the authors belong.
March 8 has been designated by the United Nations as International Women's Day, and on this date each year, exchanges across the world hold “bell-ringing ceremonies.”
This year, Japan Exchange Group also expressed its support for the principles behind the occasion. Director Ota Hiroko and Executive Officer Lin Kay, as well as other female personnel, held mimosa-colored balloons – the symbol of International Women's Day.
In 2018, Tokyo Stock Exchange, Inc. (TSE) introduced a market making scheme to improve liquidity in the ETF market.
Currently, 11 companies are registered as Market Makers, and TSE has presented awards to Market Makers who have made significant contributions to the ETF market since 2021.
This year, IMC Pacific Pty Ltd, Vivienne Court Trading, Optiver Australia Pty Limited, Jane Street Asia Trading Limited, Flow Traders Hong Kong Ltd were honored as the Best Market Makers, and four other companies were honored as the Good Market Makers.
TSE remains committed to carrying out various initiatives to contribute to the creation of an even more convenient ETF market for investors.
Tokyo Stock Exchange, Inc. and the Ministry of Economy, Trade, and Industry jointly select and announce the Health & Productivity Stock Selection.
Based on the idea that efforts to maintain and improve the health of employees are investments that will increase the future profitability of the company, “Health and Productivity Management” is defined as a practice in which an enterprise focuses on the health of employees from a managerial perspective and strategically carries out efforts to maintain and improve it.
Promoting health management is expected to contribute to the revitalization of organizations by improving the vitality and productivity of employees, which will ultimately lead to improved corporate performance and corporate value.
The program aims to encourage further efforts on health and productivity management by showcasing the attractiveness of selected enterprises to investors who focus on corporate value improvement over the long term.
This is the tenth year and we selected 53 enterprises from 27 sectors.
JPX Market Innovation & Research, Inc. (JPXI) launched a Proof of Concept (PoC) for "JPX Market Explorer," a new service that uses the technology of Bridgewise, a generative AI provider, to provide information on the Japanese market.
JPX Market Explorer is a free service through the JPX website targeting domestic and overseas investors.
JPX Market Explorer enables investors to easily research business overviews and recent financial summaries of companies listed on Tokyo Stock Exchange (TSE). Investors can also analyze the financial situation of TSE listed companies and compare them with their competitors.
In this PoC, JPXI aims to verify how the use of generative AI can be helpful both for investor research and the provision of information on listed companies and the overall Japanese market.
On March 18, JPX Prime 150 Index Futures was listed on Osaka Exchange (OSE).
On the listing day, a commemorative ceremony was held on TSE Arrows Open Platform for not only JPX Prime 150 Index Futures but also the NEXT FUNDS JPX Prime 150 Index Exchange Traded Fund, which was listed on the same day.
With the emergence of financial products linked to JPX Prime 150 Index, which was launched in July 2023, and through providing the hedging tools for creating and managing the financial products linked to this index, OSE remains committed to striving to enhance convenience for investors and contributing to the development of Japan’s financial market.
Tokyo Stock Exchange (TSE) implemented a Trial Market Maker Scheme for the Carbon Credit Market from November 27, 2023 to February 29, 2024. This trial was initiated in response to the "Carbon Credit Market Trading Stimulation Project," conducted by the Ministry of Economy, Trade and Industry (METI).
The Trial Market Maker Scheme was implemented for Energy Saving J-Credits and Renewable Energy (Electricity) J-Credits. A total of five companies applied and were designated as market makers. Two of the five companies, Sumitomo Corporation and Mizuho Bank, Ltd., were named Best Market Makers for meeting the awards criteria for both Energy Saving J-Credits and Renewable Energy (Electricity) J-Credits, and another, Daiwa Securities Co. Ltd., was named Good Market Maker for meeting the awards criteria for Renewable Energy (Electricity) J-Credits. The awards ceremony was held on March 19.
To properly fulfill its stewardship responsibilities as an asset owner in the management of corporate pension plans, JPX Group has announced its acceptance of “Japan’s Stewardship Code.”
Japan’s Stewardship Code is a set of principles for institutional investors to fulfill their responsibility to increase medium- to long-term investment returns for their clients and beneficiaries through constructive dialogue with the companies in which they invest, thereby enhancing their corporate value and promoting their sustainable growth.
Our corporate philosophy is “to contribute to the realization of an affluent society by promoting the sustainable development of the market,” and we believe that JPX Group, as an asset owner, must proactively fulfill its stewardship responsibilities in order achieve this.
Tokyo Stock Exchange, Inc. (TSE) has made the decision to launch the "TSE Asia Startup Hub." It will serve as an environment to encourage leading Asian companies with high growth potential to choose TSE for their IPOs.
The new Startup Hub will provide support in Japan for leading Asian companies based on each organization’s unique needs. Activities include assistance with business, financing, and IPOs. In the medium-to-long term, this will boost the potential for IPOs to be conducted on TSE.
TSE will now start recruiting Asian companies to support, and it plans to announce the names of such businesses in Q3 of 2024.