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Improvements to TSE Listing System | Japan Exchange Group Survey on TSE's Listing Rules and Systems for Investors Listing System Improvement Action Plan 2009 Proposal from Advisory Group on Improvements to TSE Listing System Listing System Improvement FY2008 Comprehensive Improvement Program for Listing System 2007 Interim Report of Advisory Group on Improvements to TSE Listing System Development of Comprehensive Improvement Program for Listing System Tokyo Stock Exchange conducted a survey to gather opinions from investors on TSE's listing rules and systems through a questionnaire during the period from August 20, 2010 to October 15, 2010. This survey was aimed at collecting evaluations of recently-implemented measures as well as identifying issues and problems so as to further enhance the overall listing rules and systems. The "Summary of Responses to the Questionnaire on TSE's Listing Rules and Systems for Investors" is English translation of the consolidated results of the ...

What is IFRS? | Japan Exchange Group IFRS Why IFRS? Why consider adoption? Expected Benefits of IFRS Reporting Voluntary Application of IFRS (current and scheduled) Reference What is IFRS? 　 Voluntary Application of IFRS (Current and scheduled) Initiatives at TSE toward IFRS Reporting The International Financial Reporting Standards, or IFRS, is a framework for a global accounting standard developed and published by the International Accounting Standards Board (IASB). The standards developed by the International Accounting Standards Committee (IASC), the predecessor of the IASB, are called International Accounting Standards (IAS). The 41 standards developed by the IASC are still in effect today. The standards developed by the IASB are called IFRS, up to No. 17. IAS and IFRS are collectively referred to as IFRSs. A global standard A single global accounting standard was envisioned to allow investors to use the same yardstick to compare companies across the world. Today, accounting standards worldwide are ...

Council of Experts Concerning the Revision of the Quarterly Disclosure System | Japan Exchange Group Practical Policy Concerning the Revision of the Quarterly Disclosure System Disclosure Status of Quarterly Earnings Reports Following the Revision of the Quarterly Disclosure System Minutes and Materials A council of experts has been established to ensure that operations are in line with the aims for integration of quarterly disclosures that were specified in The Working Group on Corporate Disclosure of the Financial System Council report in June and December 2022. It will hold discussions while taking into full consideration the opinions of investors, listed companies, academics, and other market users. Establishment of the Council of Experts Concerning the Revision of the Quarterly Disclosure System Members For the report by the Working Group on Corporate Disclosure of the Financial System Council, please see the following page (JFSA website, Japanese only). Financial System Council Report in June 2022 ...

Study Group on the SPAC Listing System | Japan Exchange Group Meetings of the Study Group on the SPAC System With respect to the listing system for "SPACs" (special purpose acquisition companies) found in financial instruments exchanges in the U.S. and other countries, Tokyo Stock Exchange (TSE) established a study group, with the participation of academic experts, institutional investors, venture companies, financial instruments dealers, and other market participants, to discuss the significance and necessity of introducing a similar listing system and also to discuss pertaining issues if introducing such a system in Japan, taking the systems and practices in other countries into consideration. Outline of Establishment (in Japanese only) Member List (in Japanese only) First Meeting (Oct. 1, 2021) Document 1: Meeting agenda　 (in Japanese only) Document 2: Presentation materials by the secretariat　 (in Japanese only) Document 3: Status of SPAC in the U.S.　 (in Japanese only) Summary of ...

Study Group to review Minority Shareholder Protection and other Framework of Quasi-Controlled Listed Companies | Japan Exchange Group Study Group to review Minority Shareholder Protection and other Framework of Quasi-Controlled Listed Companies The Investor’s Perspective on Such Matters as Parent-Subsidiary Listings Summary of the Study Group’s Discussions Interim Report Minutes and Materials (2nd Phase) The Tokyo Stock Exchange ("TSE") established a study group with the participation of academic experts, listed companies and investors to discuss issues suggested by recent cases involving listed companies*1 with shareholders with substantial control*2, how to coordinate interests between controlling shareholders and minority shareholders of dependent listed companies, and the framework for protecting minority shareholders. referred to as "dependent listed companies" referred to as "controlling shareholders" Outline of Study Group to review Minority Shareholder Protection and other Framework of Quasi-Controlled Listed Companies Outline of Study Group to review Minority ...

Standardization of Trading Unit | Japan Exchange Group Shifted to Standardized Trading Unit of 100 Shares for Domestic Stocks on October 1, 2018 Standardization of Trading Units 　 Past Initiatives Q&A on Standardization of Trading Units List of Companies that Changed the Number of Shares per Share Unit (Trading Unit) Survey Results TSE and other domestic stock exchanges have pushed for a single trading unit of 100 shares for the purpose of improving market convenience for investors since November 2007. Thanks to the cooperation between stock exchanges and listed companies, the variety of trading units was successfully reduced from the former eight lots to the two lots of 100 and 1,000 shares by 2014, and then to a single lot of 100 shares on October 1, 2018. TSE is committed to operating cash equity markets where all investors can trade more easily....

Electronic Voting Platform, etc. | Japan Exchange Group For The Issuer　 For Institutional Investors About ICJ, Inc. Electronic Voting Platform 　 Background of Introduction Overview of Services Benefits for Participants Efforts to Increase Participation Since 1990's, while cross-holding of shares among Japanese issuers had been rapidly dissolved and foreign investors and institutional investors had increased their stock holdings, the need to foster an environment where institutional and foreign investors could exercise voting rights properly had increased. Under such circumstances, the Tokyo Stock Exchange (TSE) and Broadridge Financial Solutions, Inc. (Broadridge) have established an "Electronic Voting Platform for Foreign and Institutional Investors," and started operation of the platform from companies with 2005 December year-end. As of the end of March 2025, approximately 1,800 companies have already agreed to participate in the platform. Along with the introduction of the platform, the environment for exercising voting rights among institutional investors has ...

Promoting Corporate Value-Focused Management | Corporate Value-Focused Management | Japan Exchange Group Promoting Corporate Value-Focused Management 　 Listed Company Award In Japan, improving the corporate value of listed companies has become an important issue. This is because improving the value of individual listed companies is crucial for ensuring the growth and development of the Japanese economy, as well as achieving an increase in national wealth. At Tokyo Stock Exchange, Inc. (TSE), efforts are being made to support the implementation of Corporate Value-Focused Management in listed companies. Through the introduction of practical examples from exemplary companies that display excellent management awareness and solid management systems, we aim to further improve the understanding of corporate value enhancement and capital costs among Japanese listed companies. The hope is that this will serve as a catalyst for listed companies to take further steps towards growth. In FY2012, TSE began giving out "Corporate Value ...

JPX English Disclosure GATE | Japan Exchange Group JPX launched "JPX English Disclosure GATE" with the aim of improving the accessibility of corporate information to overseas investors and further facilitating disclosure and provision of corporate information in English by listed companies. Through this service, JPX provides information considered useful for overseas investors and listed companies respectively. Company Announcements Service For Overseas Investors For the latest English disclosure materials Listed Company Search For Overseas Investors For listed companies' basic data and disclosed materials, etc. Corporate Governance Information Search For Overseas Investors Service which provides corporate governance information with a search function Availability of English Disclosure Information by Listed Companies For Overseas Investors For information on which listed companies are conducting English disclosure TSE IR MOVIE SQUARE For Overseas Investors For investor-oriented videos such as company introductions and messages from corporate representatives, etc. JPxData Portal (beta version) For Overseas Investors You can ...

Disclosure Forms and Documents to be Submitted | Japan Exchange Group Revision of Practical Guidance for Disclosure of Earnings Forecasts...