Tokyo stock market will be restructured into three market sectors

　　Xinhua News Agency, Tokyo, April 3 (Reporter Liu Chunyan) In order to promote the reform of listed companies and enhance the attractiveness of the Tokyo stock market, the Tokyo Stock Exchange will be reorganized from four market sectors to three from the 4th.

　　Before the reorganization, the four main market sectors of the Topix include Topix I, which is equivalent to the main board market, Topix II, which is equivalent to the SME sector, Jasdaq, which is called the Japanese version of Nasdaq, and similar. High-growth and emerging equity market sectors of the ChiNext.

　　After the reorganization, the Topix stock market will be divided into three major segments: the main market, the standard market and the growth market.

The main market is mainly composed of companies previously listed on the first section of the Topix, the standard market is mainly composed of companies listed on the second section of the Topix and Jasdaq, and the growth market is mainly composed of companies listed in the high-growth and emerging stock market sectors .

　　Topix stated that it will strictly control the listing standards of the highest-level major markets, listed companies should be global companies, and put forward higher requirements for listed companies' transparency and corporate governance.

　　With the market reorganization, the two major stock indexes in the Tokyo stock market will also be adjusted accordingly.

　　The constituent stocks of the Nikkei 225 Stock Average Price Index were originally 225 major corporate stocks listed on the First Section of the Topix. After the reorganization, the constituent stocks will be selected from major markets to calculate the average stock price index.

　　The constituent stocks of the Tokyo Stock Exchange's stock price index originally covered all the stocks of the Topix First Division. After the reorganization, no matter which market sector these companies are diverted to, they will be temporarily retained, but will be gradually removed during the next three-year transition period. Stocks of companies whose market capitalization does not meet the standard.

　　Japanese media and experts analyzed that Topix hopes to establish differentiated and more internationally competitive market segments through reorganization to attract overseas investment.