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Dec. 26, 2025 TSE TSE Publishes Compilation of Case Studies on Such Matters as Parent-Subsidiary Listings

Tokyo Stock Exchange, Inc. (TSE) has been asking listed companies in parent-subsidiary relationships and those in relationships under the equity method to develop initiatives and make disclosures on group management and the protection of minority shareholders.

To serve as a reference for such initiatives and disclosures, TSE has published the Compilation of Cases Studies on Such Matters as Parent-Subsidiary Listings. This document is a compilation of companies’ disclosures that have received positive feedback from investors, from the perspective of group management and minority shareholder protection (ensuring shared benefits for shareholders of subsidiaries).

We hope these case studies will be a useful reference for you when considering parent-subsidiary approaches and disclosures, and for dialogue with investors.

Please also refer to The Investor’s Perspective on Such Matters as Parent-Subsidiary Listings, published on February 4, 2025, which contains the investor’s perspective and examples of specific situations where listed companies’ initiatives are not aligned with it.