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2023 Japan Exchange Group, Inc., and/or its affiliates Tokyo Stock Exchange, Inc. Listing Department December 18, 2023 Expansion of English Disclosure in the Prime Market Document 6 2 ©2023 Japan Exchange Group, Inc., and/or its affiliates General Comments Some overseas investors have said that they do not invest in Japanese companies because of a lack of English disclosure, which is a very big opportunity loss. Considering the concept of the Prime Market, English disclosure should be promoted. Overseas investors are dissatisfied with information asymmetries and disadvantages, such as differences in the volume and timing of information between disclosure in Japanese and English. While taking the situation of companies into account, it would be appropriate to make the documents that are in high demand by investors mandatory on a priority basis. Target Companies The Prime Market concept needs to be consistent, and should start with ...

Nov. 2023 (Reference Translation) TSE NOTICE Dec. 20, 2023（Wed.） [Attachment] Changes in Number of Listed Shares, etc. in Connection with Exercise of Subscription Warrants, etc. (Relevant Period Nov. 01, 2023 - Nov. 30, 2023) (Note) 1. No. of Listed Shares at End of Month No. of listed shares for Common Stock, Preferred Stock, etc. (*Code 2593-5 is Type-1 Preferred Stock of ITO EN, LTD. and *Code 9434-5 is Series 1 Bond-Type Class Shares of SoftBank Corp.) When exercising Subscription Warrants in cases where treasury stocks will be transferred, the number of listed shares may not increase even after decreasing the residual amount of bonds, etc. After acquiring CBs subject to call in cases where retirement has not been conducted, the number of listed shares may increase without a decrease in the residual amount of bonds. 2. Primary Reasons for Changes Exercise of Bonds with Subscription Warrants…...

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コーポレート・ガバナンス報告書 2023年12月22日株式会社ＲＡＶＩＰＡ 代表取締役新井亨問合せ先：管理本部渡部颯太 03-6907-3950 ＵＲＬhttps://ravipa.co.jp 当社のコーポレート・ガバナンスの状況は以下のとおりです。 Ⅰ．コーポレート・ガバナンスに関する基本的な考え方及び資本構成、企業属性その他の基本情報 １．基本的な考え方当社グループは、「商品で女性を笑顔にしたい」という理念...

Daily Price Limits to be Broadened : 1 issue | Japan Exchange Group Dec. 18, 2023 TSE Daily Price Limits to be Broadened : 1 issue The following issue has fallen under the following (1) or (2) for two consecutive business days. As such, TSE wishes to bring to your attention that it will broaden only the upper (or lower) daily price limit on the next business day (December 19) as follows. (1) The upper (or lower) daily price limit is reached and trading volume is 0 without conducting allocation at the upper (or lower) daily price limit (2) Trading volume remains at 0 shares until the end of the afternoon session, trades are executed at the upper (or lower) daily price limit at the close of the afternoon session with bids (or offers) remaining at the upper (or lower) daily price limit. CHUO BUILD INDUSTRY CO.,LTD. (Code: 1971) 　　Upper daily price ...

Matching Mechanism for the First Day of Listing: WiLLDo Inc. | Japan Exchange Group Dec. 18, 2023 TSE Matching Mechanism for the First Day of Listing: WiLLDo Inc. Tweet WiLLDo Inc. (code: 5617) will be listed on Dec.19. The matching mechanism to be applied to WiLLDo Inc. until the initial price is determined is shown below. This special matching mechanism is applied to first-time listed issues until its initial price is determined. 1. Order book center price JPY 1,437 (valuation) 2. Quote renewal (1) Initial special quote An initial special (bid or ask) quote will be indicated at the order book center price. *) If there is a matching quote within the special quote renewal price interval from the order book center price at the beginning of trading session, matching will occur instantly. (2) Upper limit Upper limit price: JPY 3,310 (230% of the order book center price) ...

Matching Mechanism for the First Day of Listing: ES NETWORKS CO.,LTD. | Japan Exchange Group Dec. 18, 2023 TSE Matching Mechanism for the First Day of Listing: ES NETWORKS CO.,LTD. ES NETWORKS CO.,LTD. (code: 5867) will be listed on Dec.19. The matching mechanism to be applied to ES NETWORKS CO.,LTD. until the initial price is determined is shown below. This special matching mechanism is applied to first-time listed issues until its initial price is determined. 1. Order book center price JPY 730 (public offering or secondary distribution price) 2. Quote renewal (1) Initial special quote An initial special (bid or ask) quote will be indicated at the order book center price. *) If there is a matching quote within the special quote renewal price interval from the order book center price at the beginning of trading session, matching will occur instantly. (2) Upper limit Upper limit ...

Thirteenth "Council of Experts Concerning the Follow-up of Market Restructuring" ―Agenda― Tokyo Stock Exchange, Inc. 1. Date: Monday, December 18, 2023 3:30 p.m. - 5:30 p.m. 2. Place: Tokyo Stock Exchange 15F Conference Room 3. Agenda: i. Opening ii. Future actions to enhance the functionality of the Growth Market - TSE explanation - Observers explanation - Discussion iii. Expansion of English Disclosure in the Prime Market - TSE explanation - Discussion iv. Future Discussion Topics in the Follow-up Council - TSE explanation - Discussion v. Confirmation of next schedule, Closing ＜Handouts＞ Document 1 Agenda Document 2 TSE Explanatory Material (a) (Summary of Interviews with Growth Market Users) Document 3 TSE Explanatory Material (b) (Future Actions to Enhance the Functionality of the Growth Market) Document 4 Observer (Financial Services Agency) Explanatory Material *Japanese only Document 5 Observer (Ministry of Economy, Trade and Industry) Explanatory Material *Japanese only Document 6 TSE Explanatory Material (c) (...

2023 Japan Exchange Group, Inc., and/or its affiliates Summary of Interviews with Growth Market Users Document 2 Tokyo Stock Exchange, Inc. Listing Department December 18, 2023 1 ©2023 Japan Exchange Group, Inc., and/or its affiliates Interviews with Market Users (Overseas Venture Capital) IPO Issues When our portfolio companies (overseas startups) ask us about going public, we confirm the amount of capital they intend to raise by doing so. Japanese startups lack awareness of this issue and do not have a perspective on whether they can raise the funds commensurate with the cost of going public. There is no discussion about what the purpose of listing is and how much money is needed, so after listing anything can happen. The lockup period should be longer. Investors who have been in before the IPO should have an unconditional lockup period of, for example, 12 or 18 months, except ...

2023 Japan Exchange Group, Inc., and/or its affiliates Future Discussion Topics in the Follow-up Council Document 7 Tokyo Stock Exchange, Inc. Listing Department December 18, 2023 2 ©2023 Japan Exchange Group, Inc., and/or its affiliates Future Discussion Topics in the Follow-up Council Schedule Topics for Discussion Dec. 18, 2023 (The 13 th council) Consideration to improve the functionality of the Growth Market Consideration to expand English disclosure practices in the Prime Market In January 2024 and thereafter (In the 14 th council and thereafter) Promote management that is conscious of cost of capital and stock price, and improve the effectiveness of communication with investors Consideration of content of key points and examples of measures to be taken based on investors' viewpoints Consideration of additional measures, based on monitoring of the company's disclosure status and feedback from investors (generally once every ...