Start trading in 3 new markets such as TSE "Prime Market"

At the Tokyo Stock Exchange, some of the previous copies have been abolished, and transactions in three new markets, including the "prime market," have begun on the 4th.

The Tokyo Stock Exchange has been reorganized into three markets, Prime, Standard, and Growth, from the 4th, and the previous 1st and 2nd sections have been abolished.

Akira Kiyota, CEO of Japan Exchange Group, said on the 4th, "The aim of the market restructuring is to provide an attractive market that can be highly supported by domestic and foreign investors. I have high hopes for the progress of our efforts toward this point, "he said, and a new market transaction began at 9 am.

Of these, in the prime market, listing standards have become stricter than in the previous section in an attempt to attract internationally competitive companies.

In addition, it will be necessary to take measures in terms of corporate governance and information disclosure, such as reducing the number of highly independent outside directors to one-third or more and disclosing the impact of climate change on management.

It will be interesting to see if new markets can stimulate investment, accelerate corporate growth, and raise the level of the Japanese economy as a whole.

Regarding the TSE's market restructuring, Atsushi Kamio, a senior researcher at Daiwa Institute of Research, pointed out that it would be difficult to maintain the listing unless the company grows sustainably. , The strategy for growth has been disclosed in an easy-to-understand manner. Intensifying competition between companies regarding how to show the strategy and return to shareholders will lead to raising the level of the Japanese market. " increase.

On the other hand, for companies that have moved to the prime market but do not currently meet the listing criteria and have submitted improvement plans, "Some companies make investors wonder if they are really achievable. Yes, it is important for companies to improve their explanations by checking the progress status and changing the plan. "

Regarding the future outlook, he pointed out that various costs for maintaining listing, such as enhanced information disclosure for investors, will be incurred. Maybe some companies will choose to delist. Increasing the number of companies coming and going will increase the metabolism of the market. "