JPX Monthly Headlines

The demand for new listings remains strong, with 105 companies newly listing on Tokyo Stock Exchange (TSE) in 2025.
Approximately 40% of these new listings were from regions outside of Tokyo, and there were four large-scale listings with initial market capitalizations exceeding JPY 100 billion.
Furthermore, TSE markets are seeing wider use, as illustrated by the 46 new listings on the specified investor-oriented TOKYO PRO Market.
TSE will continue making efforts to encourage and ensure the quality of IPOs through cooperation and collaboration with underwriters, audit firms, local financial institutions, and others involved in the IPO process, while actively promoting our listing activities across the country in 2026.

JPX Market Innovation & Research, Inc. has launched the beta version of J-LENS, an AI-powered natural language search service for corporate information disclosure.
In recent years, the disclosure information provided by listed companies has grown in both diversity and volume, making it ever more important to be able to quickly and accurately find information when needed.
J-LENS leverages AI to deal with differences in terminology, such as “rate hike” and “interest rate increase,” and to enable searching by criteria for information difficult to find with conventional keyword searches, like “disclosures of planned dividend increases of 50% or more” or “companies who have announced expansion overseas.”
We will continue to improve the service further based on feedback from users, to include additional filters and other functions such as retaining search history.

JPX Market Innovation & Research, Inc. (JPXI) will start calculating and distributing the “TOPIX High Dividend Growth Index” from January 26, 2026. The index will consist of 50 constituents selected from the constituents of TOPIX 500, focusing on factors such as growth potential and dividend yield.
Growth potential will be judged based on four indicators: long-term sales growth rate, long-term net income growth rate, PBR for the most recent fiscal period, and equity ratio for the most recent fiscal period.
Please refer to the TSE Index Guidebook (TOPIX High Dividend Growth Index) published December 12, etc., for details.

The establishment of an environment that facilitates investment in high-growth companies serves as an important foundation for companies to actively raise capital and make growth investments, while also making it easier for investors to invest in attractive companies.
In line with Tokyo Stock Exchange’s (TSE) Growth Market reforms, JPX Market Innovation & Research, Inc. (JPXI) will develop and launch a new index, the “JPX Start-Up Acceleration 100 Index,” which focuses on the growth potential of startups (scheduled for March 9, 2026).　This index will primarily target stocks listed on TSE Growth Market, and 100 constituents will be selected based on growth criteria.
Through this new index, we aim to create a virtuous cycle in which even more growth-oriented management is encouraged among startups and investment in those achieving growth is further expanded.

Japan Exchange Group, Inc. (JPX) held its annual ceremonies on December 30, the last trading day of 2025.
At our Tokyo venue, we welcomed Japan National Football Team Head Coach Moriyasu Hajime and Prime Minister Takaichi Sanae, both of whom delivered speeches and rang the bell, following which the traditional Japanese ceremonial proceedings took place.
At our Osaka venue, we welcomed market users and other related parties from the Kansai business community and brought the year to a close with the traditional Japanese three cheers.