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Jun. 23, 2023 TSE Regulatory Measures, etc. on Trading of Newly Listed Stocks : AR advanced technology,Inc.

Regulatory Measures, etc. on Trading of Newly Listed Stocks

　1. Issue: AR advanced technology,Inc. (Code: 5578)

　2. Regulatory Measures (until the day an issue is first traded)
　 Trading participants are:
　 (1) required to receive purchase funds (in cash) from clients, other than those with discretionary
　　investment contracts, on the same day.*
　 (2) prohibited from making purchases in the issue on their proprietary accounts, including
　 those under discretionary investment contracts, until it is first traded.
　 (3) prohibited from placing sell market orders and buy market orders on the issue until after the day it is first traded.*
　　*As long as a client's MRF (money reserve fund) is in excess of the purchase funds on the day
　　the issue is first traded, the MRF may be allocated to the purchase funds for a newly listed stock,
　　and trading participants will be deemed to have received the purchase funds (in cash) on the
　　same day even though the client did not make a corresponding deposit in cash on the day.
　
　　 *As announced on March 16, 2023 in "Prohibition of Market Orders for Trading
　　 on the Initial Listing Date" , for issues that carry out initial listings by June 23 but for which
　　 the initial price is not determined by June 26, not only market buy orders but also market sell orders
　　will be prohibited from June 26 to the initial price determination date.

　3. Handling of quotes
　(1) Until the first price is determined
　　Quotes displayed can be renewed up to 230% of the previous day's final quote price.
　　The price range and interval for quote renewal will depend on the situation in the order book
　　and be renewed by either 5% every 10 minutes or the renewal price range from the last quote
　　price every 3 minutes.
　 (2) After the first price is determined
　　After the first price is determined, price limits on bids and offers will be applied based on
　　such first price.