Overview of Segment Transfers

Initial Requirements and Contents of Examination

Examinations for segment transfers between the Prime, Standard, and Growth Markets will be conducted based on the same level of criteria as those for initial listing examinations. Please check the initial listing criteria for each market segment.

Please note that in the case of a company wishing to make a segment transfer to the Standard Market, if TSE deems it appropriate based on the status of the company's corporate governance, internal management system, and past disclosures of corporate information, etc., TSE will treat the company as having met the following listing examination criteria (contents of examination): "Soundness of Corporate Management," "Effectiveness of Corporate Governance and Internal Management System," "Appropriateness of the Disclosure of Corporate Information, etc.," and "Other Matters Deemed Necessary by the Exchange from the Viewpoint of the Public Interest or the Protection of Investors." For details, please refer to "VIII. Alteration of Markets" in the "New Listing Guidebook - Standard Market."