The Tokyo Stock Exchange has officially decided to change the name of the current "Part 1" to "Prime" due to the market reorganization in 2022 next year.
TSE plans to reorganize the current four markets, including the first and second divisions, into three from April next year in order to make the market easier for domestic and foreign investors to understand.
On the 25th, TSE
decided to keep
the name of the new market after the reorganization
as the tentative name already announced
,
▽ "Prime"
▽ "Standard"
▽ "Growth"
.
This means that companies that are currently listed will be asked to choose which market to move to according to new standards from September next year.
"Companies listed on the First Section of the Tokyo Stock Exchange" have long been said to represent the status of companies, but with the market reorganization, the name "First Section" will disappear.