Overview

Overview of Specified Investors, etc.

TOKYO PRO Market, a specified financial instruments exchange market, prohibits stock buying by general investors excluding specified investors, etc. in accordance with the Financial Instruments and Exchange Act and the regulations of TSE. Investors that can buy stocks at TOKYO PRO Market are called "specified investors, etc. (namely "Professional investors")" and mainly classified into specified investors and certain non-residents. In addition, specified investors are classified into those defined as specified investors by relevant laws and those that meet certain requirements and can become specified investors by filing with their securities companies (namely "deemed" specified investors). General investors that own stocks before listing can sell such stocks on TOKYO PRO Market.

Item Example
Specified investor Qualified institutional investor (financial institutions, etc.), national government, Bank of Japan
Specified investor (transferrable to general investor) Listed company, stock company with capital of 500 million yen and more
"Deemed" specified investor Stock company other than a specified investor, individual with financial assets or net assets worth 300 million yen and more
Non-resident Individual who does not have an address or residence in Japan, corporation that does not have a principal place of business in Japan