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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.
On January 4, JPX and its group companies held ceremonies in Tokyo and Osaka to mark the first trading day of the New Year. As with the market closing ceremonies held at the end of 2021, both venues implemented Covid-19 infection prevention measures such as limiting the number of attendees and ensuring social distancing. Minister of State for Financial Services Suzuki and Parliamentary Vice-Minister Munekiyo were invited to Tokyo and Osaka, respectively. Both of them delivered their congratulatory remarks and rang the bell to pray for good health and further development of the securities market. Both ceremonies can be viewed on JPX's official YouTube channel.
(Picture: Tokyo Site)
On April 4, 2022, TSE will restructure its current stock market into three new market segments: the Prime Market, the Standard Market, and the Growth Market. In preparation for the transition to the new market segments, listed companies sent applications for selection of their new market segment from September to December last year, and TSE published a list of the results of these selections on the JPX website.
The objectives of the market restructuring are to support listed companies' sustainable growth and enhancement of mid- to long-term corporate value, and to offer an attractive market that has the approval of a diverse range of domestic and international investors. TSE will continue to press ahead with its efforts to make the Japanese stock market more attractive by supporting initiatives to enhance corporate value undertaken by companies listed on the new market segments.
On January 11, JSCC made replacements in the JGB Clearing System including clearing for transactions in the JGB OTC markets and Repurchase transactions. Along with these replacements, JSCC introduced "JGB Futures Pair-off Netting" which makes netting possible for delivery settlements of JGB Futures transactions in Listed Derivatives Clearing Service and settlements of Japanese Government Bonds in JGB OTC Transaction Clearing Service, with the aim of improving the smoothness and efficiency of settlement operations. Furthermore, JSCC introduced a Single Sign On function which enables clearing participants to access multiple clearing systems, including clearing operations for Listed Derivatives, with a single ID. Also, JSCC transferred backup functions to the Kansai Data Center.
TSE has carried out a survey regarding the availability of disclosure information in English for FY2021 and has now published a summary of the results, as well as an updated list. In preparation for the market restructuring this April, the proportion of companies which selected the Prime Market, the segment for companies centering their business on constructive dialogue with global investors, which disclose information in English reached 85.8% (79.7% as of the end of 2020). If we include companies that have announced a plan to start disclosing in English on transition to the Prime Market, the figure stands at 88.9%, which shows how the market restructuring is becoming a catalyst for progress of initiatives to disclose information in English among listed companies. For more information, please refer to the following websites.
On January 27, JPX released its consolidated earnings report for Q3 FY2021.
Operating revenue was up JPY 3.3 billion (+3.4%) year on year to JPY 100.5 billion mainly due to an increase in revenues from listing and information services.
Operating expenses were up JPY 0.5 billion (+1.1%) year on year to JPY 45.5 billion mainly due to an increase in system related costs.
As a result, operating income increased by JPY 1.6 billion (+2.9%) to JPY 55.9 billion with net income (attributable to owners of the parent company) up JPY 0.6 billion (+1.7%) to JPY 38.0 billon.
