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Timely Disclosure Rules (Venture Funds) | Japan Exchange Group Information Related to Venture Funds, Asset Management Company, etc. Items Concerning Assets Under Management, etc. and Net Asset Value per Unit of Listed Venture Funds The Securities Listing Regulations require issuers of venture funds, etc. to disclose in a timely and appropriate manner information pertaining to the investment corporation and asset management company and information pertaining to the content of assets under management, etc.In addition, when the details of financial results are determined, disclosure by means of financial statements is required. In addition, disclosing the status of assets under management, etc. and the net asset value per unit of the relevant listed venture fund once per quarter is also required. Category Details Information Related to Decisions by Investment Corporation Split or reverse split of investment units; Additional issuance or secondary offering of investment units; Offering of investment corporation bonds or borrowing ...

Listed Issues (Venture Funds) | Japan Exchange Group No such issues currently....

Criteria for Listing | Listing (Venture Funds) | Japan Exchange Group Attributes of Asset Management Company Details of Assets Under Management, etc. Definitions of Terms Financial Details Venture Funds Ownership Conditions Management System and Structure, etc. The Certificate of Incorporation of a Venture Fund-issuing Investment Corporation Other Criteria for Listing 　 Delisting In order for a venture fund to be listed, the details of the issue and other matters of the venture fund must conform to the listing examination standards set forth in the Securities Listing Regulations (Venture Funds). In addition, the standards for the issuer of the venture fund and the asset management company must be appropriate from the perspective of the asset management system, compliance and timely disclosure systems, and must be a member of the Investment Trusts Association, Japan. The standards also require that the issuer or asset management company of the venture fund be a member of The ...

Characteristic | Overview (Venture Funds) | Japan Exchange Group What are Venture Funds? Characteristic 　 Method of Utilization Venture Funds market was established on December 3, 2001 as a new market for investment corporations to invest in venture companies especially in unlisted companies. Establish new financial scheme for venture companies Venture funds are new financial scheme for venture companies utilizing investment corporations system (company-type investment trust).It gathers funds from general investors widely and invest in venture companies such as unlisted companies. Provide individual investors with the opportunity of investment in unlisted companies. Generally, venture companies are invested by investment partnership such as the institutional investors. Development of Venture Funds allows low-cost investment and the market where funds are easily-exchangeable enables individual investors to invest in venture companies....

Risks (Venture Funds) | Japan Exchange Group Risks That May Arise due to the Profit Structure of Venture Funds Risk That Expansion of Asset Size Will Not Proceed as Expected Risks Associated With Borrowing and Issuing Investment Corporation Bonds Risks Related to Dependence on the Sponsor Group for Human Resources, etc. and Conflicts of Interest Risk of Dependence on the Personnel of the Venture Fund's Board of Directors and its Asset Management Company. Risks Associated with Investments Without Control Risk of Concentrating Investments in Specific Companies Risks Associated With Dispatching Directors to Investees Risks Associated With the Lack of Accuracy, Truthfulness, Completeness, and Sufficiency of Information Used to Form the Basis of Investment Decisions Risks Associated With Prolonged Investments Risks Concerning Liquidity of Portfolios Risks Associated With Large Fluctuations in the Corporate Value of Investees Risks Associated With the Difficulty in Predicting the Sale of the Investee's Shares at ...

Trading (Venture Funds) | Japan Exchange Group Trading Clearing & Settlement Venture Funds will be traded in the same way as stocks on TSE. Please refer to the page for domestic stock trading for more information on TSE trading. Trading Clearing & settlement will be done via account transfer at the Japan Securities Depository Center. Clearing & Settlement...

Overview | Overview of Margin Transactions | Japan Exchange Group Standardized Margin Trading and Negotiable Margin Trading Margin Trading Issues and Loan Margin Trading Issues Loans for Margin Trading and the Role of Securities Finance Companies Costs related to Margin Trading Document on Overview of Margin Trading Overview 　 Purpose and Mechanism of Margin Transactions A margin transaction is a transaction which uses funds or securities that the customer has borrowed from a securities company after making a deposit of collateral (margin) to said securities company. Repayment is made mainly through reverse trades within a predetermined time frame. The main advantages of margin trading are the ability to buy and sell up to approximately three times the amount of the margin deposit and the ability to sell on margin. Please note: While margin trading is highly convenient, there are inherent risks and costs involved, so please use it only with a proper understanding ...

Restrictions on Margin Trading and Loans for Margin Trading | Japan Exchange Group Restrictions on Margin Trading Restrictions on Loans for Margin Trading If there is excessive use of margin trading, TSE will raise the security deposit rate in order to limit the exercise of new margin trades. The implementation and removal of measures to restrict margin trading in individual issues is conducted in accordance with the "Guidelines Concerning Measures to Raise the Security Deposit Ratio, etc." Guidelines Concerning Measures to Raise the Security Deposit Ratio, etc. For issues subject to restrictions on margin trading, please see the page below. Regulatory Measures, etc., Concerning Margin Trading Securities finance companies lend funds or stocks to securities companies for standardized margin trading (this is known as "loans for margin trading"). If the number of applications to borrow stocks to sell on margin in a particular issue increases due to an increase in sales ...

Overview | Treatment of Rights in Standardized Margin Trading | Japan Exchange Group Overview 　 Rules for Treatment of Rights in Negotiable Margin Trading Scope and Method of Treatment of Rights in Standardized Margin Trading Auction for Rights When a customer purchases shares in a margin transaction, the purchased shares are retained by the securities company as collateral. The securities company will lend them to other customers who propose to sell shares on margin or pledge them to the securities finance company to receive finance in loan trading. The securities finance company will in turn lend them to other securities companies who request to borrow shares. As a result, shares purchased by a customer in margin trading are not specifically identifiable. Similarly, it is impossible to deliver specific shares to a customer who requests settlement by way of actual receipt of purchased shares through repayment of the margin loan. Therefore, it is agreed ...

Selection Criteria of Standardized/Loan Margin Trading Issues | Japan Exchange Group Selection Criteria 　 Disqualification Criteria Numbers of Issues Over Time Overview of Selection Criteria Item Standardized Margin Trading Issues Loan Margin Trading Issues Number of tradable shares - 17,000 units or more Number of Shareholders - 1,700 or more Trading volume, etc. The first contract price has been determined after listing. Average monthly trading volume is 100 units or more, and the number of active trading days is 80% or more during the past six (6) months. Business Performance No excess liabilities in the previous business year - Others The issue does not fall under any of the following conditions: Expected to be delisted Placed in the grace period Designated as a security under supervision, a security to be delisted, or a security on special alert Subject to regulatory measures for trading or margin trading Deemed inappropriate as a standardized/loan ...