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Listing Fees

Listing Examination Fee

Companies are required to pay a listing examination fee when making a listing application.

Fee Market Segment Amount Payment Deadline
Listing Examination Fee
Prime Market JPY 4 mil. End of the month following
the month the listing application is made
Standard Market JPY 3 mil.
Growth Market JPY 2 mil.

(Consumption taxes (paid to national and local governments) are not included.)

  • If an applicant company which has previously applied for listing or filed a preliminary application for listing files an application for listing within three years from the first day of the fiscal year in which it most recently applied (in the case of a preliminary application, in which the company intended to apply for listing as stated in the preliminary application for initial listing of securities), the fee will be halved.
  • For a preliminary application, the examination fee is the same amount as the listing examination fee. If a preliminary application has been filed and the listing application is then filed within the fiscal year of the intended initial listing application as stated in the preliminary application for initial listing of securities, there is no need to pay the listing examination fee.

With respect to travel expenses for on-site inspections, interviews, and the like to be conducted in particularly distant regions such as Europe and the U.S., and other expenses related to inspections deemed particularly necessary by TSE for the listing examination, an amount equivalent to the actual expenses will be separately charged as an inspection fee.

Initial Listing Fees

Fee Market Segment Amount Payment Deadline
Initial Listing Fee
Prime Market JPY 15 mil. End of the month following
the month containing the listing date
Standard Market JPY 8 mil.
Growth Market JPY 1 mil.
Fees pertaining to Public Offering or Secondary Distribution All market segments
  1. Public offering of shares pertaining to listing application: Number of shares for public offering x Offering price x 9/10,000
End of the month following
the month containing the listing date
  1. Secondary distribution of shares pertaining to listing application: Number of shares for secondary distribution x Offering price x 1/10,000

(Consumption taxes (paid to national and local governments) are not included.)

  • Fees for public offering or secondary distribution apply to public offerings or secondary distributions of shares pertaining to initial listing applications made from the date of listing approval up to the listing date.
  • "Secondary distribution of shares pertaining to listing application" shall be limited to cases falling under Article 2, Paragraph 4, Item 1 of the Financial Instruments and Exchange Act.
  • "Number of shares for secondary distribution" includes the number of shares for over-allotment. In addition, if a capital increase through third-party allotment of new shares is conducted after listing via the greenshoe option, a "fee for listing of new shares" will be required in proportion to the number of shares allotted. For details, please refer to "Fees for Listing of Newly Issued Shares" in the page below.
    Post-Listing
  • Amounts less than JPY 100 arising in the calculation of fees are discarded.
  • (Growth Market only) The maximum fee amount for a public offering or secondary distribution is JPY 19 million.