IPO Liaison Meeting
In January 2025, TSE established the "IPO Liaison Meeting" as a forum for regularly exchanging opinions with stakeholders such as securities companies and auditing firms regarding issues related to IPO practices.
(Note)
- ･In April 2025, the name of the meeting was changed from "Cooperative Meeting on IPO Practicalities" to "IPO Liaison Meeting."
The Sixth Meeting on March 23, 2026
| Document 1-1 (Japanese Institute of Certified Public Accountants) The JICPA’s Measures to Recent Accounting Misconduct *Japanese only |
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| Document 1-2 (Japan Securities Dealers Association) Guidelines for Underwriting Examination Based on Cases of Accounting Fraud at the Time of Initial Listing *Japanese only |
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| Document 1-3 Revisions to Application Documents and New Listing Guidebooks in Relation to Measures in Response to Accounting Fraud Cases at the Time of Initial Listing |
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| Document 1-3 Attachment 1 Message to All Executives and Employees of Companies Preparing for Listing (From Tokyo Stock Exchange) |
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Document 1-3 Attachment 2 Measures to Prevent Misconduct in IPOs Message to Management of Companies Preparing for Listing (From Tokyo Stock Exchange)
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| Document 1-4 Measures Taken by IPO Stakeholders in Response to Accounting Fraud Cases at the Time of Initial Listing |
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| Document 1-5 Considerations When Verifying the Circumstances of an Auditor Change with the Former Audit Firm |
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| Document 2 Recent Discussions at the Council of Experts Concerning the Follow-up of Market Restructuring and Future Initiatives |
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| Appendix(List of Members) |
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The Fifth Meeting on December 9, 2025
| Document 1 The Exchange’s Measures in Response to Accounting Fraud Cases at the Time of IPO |
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| Document 2 Measures in Relation to Revision to the Growth Market’s Continued Listing Criteria |
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| Appendix(List of Members) |
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| Minutes |
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The Fourth Meeting on October 8, 2025
| Document 1 Fourth IPO Liaison Meeting |
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| Appendix(List of Members) |
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| Minutes |
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The Third Meeting on August 28, 2025
| Document |
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| Attached Document Excerpt From Documents Drafted for the Twenty-third Council of Experts Concerning the Follow-up of Market Restructuring |
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| Appendix(List of Members) |
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| Minutes |
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IPO Liaison Meeting on April 8, 2025
| Document |
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| Appendix(List of Members) *Japanese only |
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| Minutes |
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The Second Meeting on March 10, 2025
| Document 1 Current Initiatives at Tokyo Stock Exchange |
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| Document 2 Revisions to Q&A on Upfront Investment Type Biotech Startups |
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| Appendix(List of Members) |
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| Minutes |
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The First Meeting on January 22, 2025
| Document |
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| Appendix(List of Members) |
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| Minutes |
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The Exchange’s Measures in Response to Accounting Fraud Cases at the Time of IPO
In response to recent cases of accounting fraud at the time of initial public offerings (IPOs), the IPO Liaison Meeting has compiled measures to prevent recurrence.
| The Exchange’s Measures in Response to Accounting Fraud Cases at the Time of IPO (published on December 12, 2025) |
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| Measures Taken by IPO Stakeholders in Response to Accounting Fraud Cases at the Time of Initial Listing (published on March 27, 2026) |
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