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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.
To mark 30 years of TOPIX and Nikkei 225 futures trading in Japan, OSE held events in Singapore in September and Sydney in November, welcoming investors in those regions. Participants discussed expectations toward the Japanese futures market and explored how the market should work in rapidly growing Asia as well as reassured the importance of dialogue between investors and the exchange during the events, including commemorative lectures, panel discussions, and social gatherings. These events provided an invaluable opportunity for us to incorporate what was learned into market operations in the future.
JPX welcomed Mark Carney, Governor of the Bank of England and Chair of the Financial Stability Board (FSB), for a discussion on promoting the FSB's Task Force on Climate-related Financial Disclosures (TCFD). The discussion was attended by an executive director of the Government Pension Investment Fund (GPIF) of Japan, as well as executives and leaders of industry organizations and TCFD supporter companies. Mr. Carney conveyed his appreciation for the efforts being made in Japan concerning TCFD, along with the hope that Japan will take on more of a leading role in promoting the TCFD's recommendations. Industry attendees expressed their support for the TCFD recommendations and reported on the progress they have made towards sustainable investment. The reports were followed by a lively Q&A session that explored, among other topics, the current situation regarding climate-related and other financial disclosures.
JPX held a concert in Tokyo. This is the third year we host this event to express our gratitude and promote the exchanges. The event is by invitation only. This year, there were 350 winning entries (two guests per entry). The audience enjoyed the performance by a string quartet whose repertoire ranges from solemn pieces by such classical composers as Bach and Mozart to more familiar tunes such as the theme for NHK's popular historical drama series.
JPX was granted an award as one of the Companies with Greatest Improvement in IR by Japan Investor Relations Association. The award was established to commemorate the 25th year since the establishment of the association. The award is given to companies who have, over the course of 12 years, consistently been evaluated highly by committee members and have been recognized for their efforts to improve IR.
JPX also won a Commendation Award in 2018 Internet IR Award by Daiwa Investor Relations Co. Ltd. Awards are given to listed companies that run exemplary websites on IR and effectively use said websites for disclosing information and other communication activities. JPX will remain committed to disclosing appropriate information in a timely manner and fully engaging in dialogue with the public.
On November 15, an ETF that invests mainly in an ETF listed on London Stock Exchange (LSE) was listed on TSE for the first time. The name of the ETF is "iShares Automation & Robot ETF (Code: 2522)" and managed by BlackRock Japan Co., Ltd. JPX Group and London Stock Exchange Group plc (LSEG) jointly held a ceremony to celebrate this first listing. JPX Group and LSEG will continue to collaborate on such aspects as promoting product lineups to investors and joint marketing activities for product listing promotion in order to provide more investment opportunities to investors in both markets.
In light of the growing interest in ESG investment, TSE and S&P Dow Jones Indices (S&P DJI) jointly developed and launched "S&P/JPX Carbon Efficient Index".
TSE held Index Study Sessions on November 19 in Tokyo and November 22 in Osaka, directed at personnel of listed companies that are constituents of TOPIX, on which this index was based. The event aimed to deepen understanding of the index and share concepts that listed companies can incorporate into their ESG activities.
Alongside, on November19, TSE and S&P DJI co-hosted the 4th Index Forum and introduced the latest trends in ESG investment to investors in attendance.
TSE will further promote this index through these and many other initiatives.
TSE established the Advisory Group to Review the TSE Cash Equity Market Structure at the end of October 2018 and has now commenced deliberations on various issues concerning the current cash equity market structure and the expected outcome of any subsequent structural changes.
The Advisory Group will proceed by closely examining the current state of the four market divisions (1st Section, 2nd Section, Mothers, and JASDAQ), which currently serve ordinary investors. The examination is expected to provide insights on the ideal function of the equity market structure and what aspects need to be reviewed to better exercise said function, among other related matters. These deliberations will take into account the opinions of a wide-range of market-related entities with the ultimate goal of formulating a structure that can meet the needs of both listed companies and investors.