Tokyo, Dec. 29 (Jiji Press)–Over 80 pct of around 2,200 companies currently listed on the Tokyo Stock Exchange’s first section are expected to join the TSE’s new top-tier “Prime” section under the exchange’s market reorganization in April next year.
Of them, nearly 300 companies do not meet the listing standards for the Prime section, but they can still be listed on the new section on a temporary basis.
Some companies are looking to move to the new mid-tier “Standard” section from the TSE’s first section.
The deadline for companies to choose which market they will join under the realignment is set for Thursday, with the TSE releasing the results of screening on Jan. 11.
Under the reorganization, aimed at encouraging more investments by clarifying each section’s characteristics, the existing first and second sections and the Mothers and Jasdaq markets for startups will be reorganized into the Prime section, the Standard section and the “Growth” section for startups.