Rules applied after 10 years of listing

Choice of Market System

Mothers companies that have been listed for more than 10 years are required to choose to either remain listed on Mothers or alter their listing to the 2nd Section. If a company chooses to remain listed on Mothers, it will make its next choice 5 years later.

Choice of Market System
(note)
  • ・If a company's market capitalization is less than JPY 4 billion, it is required to submit to TSE the "Written Explanation Concerning the Possibility of High Growth" and "Written Confirmation Concerning the Possibility of High Growth", and disclose the former document.
  • ・Market capitalization shall mean the year-end market capitalization for a business year ending after 10 years since listing or the average market capitalization for the month when the company becomes listed for 10 years, whichever lower.

Window for Choice of Market and Alteration Listing Day

If a Mothers company becomes listed for 10 years and chooses to alter its listing market to the 2nd Section within the 10 business-day window that is 3 months after the month of the end of the business year, the alteration listing will take place in the fifth month following the end of that business year.

Window for Choice of Market and Alteration Listing Day

Next Choice of Market for Companies Choosing to Remain on Mothers

If a company chooses to remain listed on Mothers, it will be required to make its choice again 5 years later.

Next Choice of Market for Companies Choosing to Remain on Mothers
Alteration To 2nd Section from Mothers by choice