Apr. 30, 2020 TSE
Extension of Deadline for Submitting Business Plan Improvement Report pertaining to Market Capitalization Criteria, etc.
In light of the impact from the COVID-19 outbreak, Tokyo Stock Exchange, Inc. (TSE) will extend the deadline for submitting a document containing the present status and future development of the business, improvement of the business plan, and other matters deemed necessary by TSE (hereinafter referred to as "business plan improvement report") in cases where a listed company falls under the criteria for reassignment from the 1st Section to the 2nd Section (market capitalization) or the delisting criteria (market capitalization, Mothers-listed company stock price) as follows:
- The deadline for submitting the business plan improvement report will be extended to the end of Dec. 2020, if a company falls under the delisting criteria at the end of a month between the end of Jan. 2020 and the end of Aug. 2020.
- For such cases, the grace period will be extended to the end of Jun. 2021.
Criteria subject to this extension
| Market capitalization (reassignment) |
Rule 311, Paragraph 1, Item (4), Sub-item a. of the Securities Listing Regulations |
| Market capitalization (main market delisting) |
Rule 601, Paragraph 1, Item (4), Sub-item a. of the Securities Listing Regulations |
| Market capitalization (Mothers delisting) |
Rule 603, Paragraph 1, Item (5), Sub-item a. of the Securities Listing Regulations |
| Stock price (Mothers delisting) |
Rule 603, Paragraph 1, Item (5)-2 of the Securities Listing Regulations |
Basis provisions for this extension (Rule 311, Paragraph 1, Item (4) of the Securities Listing Regulations, and other provisions)
"... provided, however, that where the general market condition rapidly deteriorates, and when the Exchange deems that these criteria are not appropriate, the Exchange shall specify the criteria pertaining to the market capitalization of the stock, etc. on a case by case basis."
Treatment under normal conditions (Rule 311, Paragraph 1, Item (4) of the Securities Listing Regulations, and other provisions)
Reassignment and delisting in cases "Where the market capitalization ..., etc. is less than [the required amount] and does not reach at least [the required amount] within nine (9) months (three (3) months in cases where the company does not submit to the Exchange a document containing the present status of the business, future development, improvement of business plan and other matters deemed necessary by the Exchange within three (3) months)".
For details, please refer to the pages below.
Enquiry
Tokyo Stock Exchange, Inc. Listing Department, Listed Company Administration, Listed Company Services
TEL:+81-3-3666-0141(Switchboard)
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