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Comparison Tables of Old and New Rules and Regulations Revisions to the Securities Listing Regulations and Other Rules as Part of Provision of Listing Rules in Order to Expand English Disclosure in the Prime Market Contents 1. Revisions to Securities Listing Regulations: Comparison Table………………...……...………………………………. Page 1 2. Revisions to Enforcement Rules for Securities Listing Regulations: Comparison Table……………………….Page 3 3. Revisions to Guidelines Concerning Listed Company Compliance, etc.: Comparison Table…………..….. Page 4 1 Revisions to Securities Listing Regulations: Comparison Table Old New (Added) Rule 436-4. English Disclosure of Corporate Information 1. Where domestic companies listed on the Prime Market disclose corporate information pursuant to the provisions of Rule 402, Rule 403, Rule 404, Paragraphs 1 and 2, Rule 405, Rule 408, Rules 408-3 through 411, and Rule 415, Paragraph 3 in Japanese, or voluntarily disclose corporate information based on an impact on investment decisions in a manner specified ...

Comparison Tables of Old and New Rules and Regulations Revisions to Securities Listing Regulations and Other Rules Pertaining to Revisions of Quarterly Disclosure in Connection with Amendments to Financial Instruments and Exchange Act and Other Changes Contents Revisions to Securities Listing Regulations: Comparison Table ................................ ................................ ................................ ........... 1 Revisions to Special Regulations of Securities Listing Regulations Concerning Specified Listed Securities: Comparison Table ..... 49 Revisions to Enforcement Rules for Securities Listing Regulations: Comparison Table ................................ ................................ ... 57 Revisions to Guidelines Concerning Listing Examination, etc.: Comparison Table ................................ ................................ ........ 132 Revisions to Guidelines concerning Listed Company Compliance, etc.: Comparison Table ................................ .......................... 138 Revisions to Enforcement Rules for Special Regulations of Securities Listing Regulations Concerning Specified Listed Securities: Comparison Table ................................ ................................ ................................ ................................ ................................ .............. 139 1 Revisions to Securities Listing Regulations: Comparison Table Old New Rule 2. Definitions Rule 2. Definitions The meanings of the terms referred to in each of the following items in these regulations shall be as defined in each of such ...

1 Revisions to Securities Listing Regulations and Other Rules Pertaining to Revisions of Quarterly Disclosure in Connection with Amendments to Financial Instruments and Exchange Act and Other Changes March 28, 2024 Tokyo Stock Exchange, Inc. I. Purpose Tokyo Stock Exchange Inc. (TSE) will revise the Securities Listing Regulations and other rules. These revisions will take effect on April 1, 2024 (for more details, please refer to the comparison tables for old and new rules and regulations). The purpose of the revisions is to develop and maintain necessary listing rules relating to revisions to quarterly disclosure in line with the "Practical Policy Concerning the Revision of the Quarterly Disclosure System" published by TSE in November 2023, based on the "integration" of quarterly securities reports for the first and third quarters into quarterly earnings reports due to implementation of the "Act Partially Amending the Financial Instruments and Exchange Act, etc." (Act No....

Revisions to Rules and Regulations: Tracked Changes Revisions to Enforcement Rules for Securities Listing Regulations and Other Rules in Response to Merger of Shareholder Services Agents Contents 1. Revisions to Enforcement Rules for Securities Listing Regulations…………...……...…………………Page 1 2. Revisions to Enforcement Rules for Special Regulations of Securities Listing Regulations Concerning Specified Listed Securities………………………………………..……………………………………….Page 17 1 Enforcement Rules for Securities Listing Regulations (as of AprilJanuary 1, 20245) Rule 212. Handling of Initial Requirements for Domestic Companies 1. The number of shareholders prescribed in Rule 205, Item 1 of the Regulations, and the number of tradable shares and the number of listed stocks, etc. prescribed in Item 2 of the same rule shall be treated in accordance with each of the following items: (1) In cases where a resolution authorizing disposal, etc. of treasury shares held by the initial listing applicant has been passed, the number of tradable shares shall ...

Comparison Tables of Old and New Rules and Regulations Revisions to Business Regulations and Other Rules in Connection with Optimization of Tick Sizes for Medium-Liquidity Stocks and Other Changes Contents 1. Revisions to Business Regulations: Comparison Table………. Page 1 2. Revisions to Enforcement Rules for Business Regulations: Comparison Table……. Page 3 3. Revisions to Rules Regarding Trading Participant Fees, etc.: Comparison Table………Page 4 1 Revisions to Business Regulations: Comparison Table Old New Rule 14. Bids and Offers Paragraph 1 (Omitted) Rule 14. Bids and Offers Paragraph 1 (Omitted) Paragraph 2 (Omitted) Paragraph 2 (Omitted) 3. The increment of bids or offers shall be determined as prescribed in each of the following items: (1) Stocks (excluding equity contribution securities, preferred equity contribution securities, investment trust beneficiary certificates, foreign investment trust beneficiary certificates, investment securities, new investment unit subscription warrant securities, foreign investment securities, foreign stock depositary receipts, beneficiary certificates ...

1 Revisions to Listing Rules and Other Rules regarding IPOs March 10, 2023 Tokyo Stock Exchange, Inc. I. Purpose Tokyo Stock Exchange, Inc. (TSE) will partially amend the Securities Listing Regulations and other rules with effect on March 13, 2023 (however, the amendment to the Rules concerning Bids and Offers will come into effect on June 26, 2023, as described below). For more details, please refer to the tables for comparison of new and old rules. As we see diversification of the characteristics and needs of start-ups aiming to list their shares on the exchange, TSE has decided to make some necessary revisions to its listing rules and other rules, including in relation to matters raised in the government’s "Grand Design and Action Plan for a New Form of Capitalism" (approved by the Cabinet on June 7, 2022), with a view to diversifying the ways in which start-...

1 Comparison Tables of Old and New Rules and Regulations Revisions to Listing Rules and Other Rules regarding IPOs Contents 1. Revisions to Securities Listing Regulations: Comparison Table………. Page 1 2. Revisions to Enforcement Rules for Securities Listing Regulations: Comparison Table……. Page 32 3. Revisions to Guidelines Concerning Listing Examination, etc.: Comparison Table………Page 114 4. Revisions to Guidelines concerning Listed Company Compliance, etc.: Comparison Table………Page 120 5. Revisions to Enforcement Rules for Special Regulations of Securities Listing Regulations Concerning Specified Listed Securities: Comparison Table………Page 122 6. Revisions to Rules concerning Bids and Offers: Comparison Table………Page 125 1 Revisions to Securities Listing Regulations: Comparison Table Old New Rule 201. Initial Listing Application 1. and 2. (omitted) (Added) 3. The provisions of the preceding two (2) paragraphs shall not apply to domestic stocks to be listed in accordance with the listing order in Article 125 of the Act....

1 Revisions to Securities Listing Regulations: Comparison Table Old New Rule 2. Definitions The meanings of the terms referred to in each of the following items in these regulations shall be as defined in each of such items: Rule 2. Definitions The meanings of the terms referred to in each of the following items in these regulations shall be as defined in each of such items: Items (1) through (50) (Omitted) Items (1) through (50) (Omitted) (50)-2 A listed company audit firm means an audit firm that is registered in the list of listed company audit firms based on the Registration System for Listed Company Audit Firms of The Japanese Institute of Certified Public Accountants; Items (51) through (75)-12 (Omitted) (Removed) Items (51) through (75)-12 (Omitted) (Added) (75)-13 A registered auditor of listed companies means a registered auditor of listed companies as defined in Article 34-...

Comparison Tables of Old and New Rules and Regulations Handling of Transition Measures and Other Matters Relating to Continued Listing Criteria Contents 1. Revisions to Securities Listing Regulations: Comparison Table………. Page 1 2. Revisions to Enforcement Rules for Securities Listing Regulations: Comparison Table……. Page 5 1 Revisions to Securities Listing Regulations: Comparison Table Old New Supplementary Provisions of the Regulations Revised on April 4, 2022 Supplementary Provisions of the Regulations Revised on April 4, 2022 Rule 4. Transition Measures Relating to Continued Listing Criteria Rule 4. Transition Measures Relating to Continued Listing Criteria 1. (omitted) 1. (omitted) 2. For application of the provisions of revised Rule 501, Paragraphs 3 and 4 and the provisions of revised Rule 502, Paragraphs 3 and 4 to cases where an issuer of listed issues (including stocks, etc. that were listed between the day following the last day of the selection period and the day ...

1 Partial Revisions to the Securities Listing Regulations and Other Rules Pertaining to Handling of Transition Measures and Other Matters Relating to Continued Listing Criteria March 31, 2023 Tokyo Stock Exchange Inc. I. Purpose of Revisions Tokyo Stock Exchange Inc. (TSE) will make partial revisions to the Securities Listing Regulations and other rules with an effective date of April 1, 2023. (For more details, please refer to the table of comparison of old and new rules and regulations.) From the perspective of promoting listed companies’initiatives to meet the continued listing criteria and adequately realizing the concepts envisioned by each segment, TSE will make some necessary revisions to the handling of the transition measures and other matters relating to the continued listing criteria. II. Outline of Revisions Remarks 1. Handling of transition measures relating to continued listing criteria (1) End date of transition -The regular continued listing criteria will be ...