Investor Presentaiton
Follow-up of Market Restructuring
JPX
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To improve the effectiveness of the market restructuring, TSE has established the "Council of Experts Concerning the Follow-up of
Market Restructuring".
In January 2023, TSE published the "Summary of Discussions on Measures to Improve the Effectiveness of the Market
Restructuring" which summarizes the discussions to date and "TSE's Future Actions in Response to the Summary of Discussions
of the Follow-up Council." which involve:
Clarification of the end date of transitional measures with respect to the continued listing criteria (March 2025)
Even for listed companies that are not at risk of violating the continued listing criteria TSE will establish a framework to motivate
autonomous actions to enhance their medium- to long-term corporate value, such as by 1) raising awareness and literacy regarding
cost of capital and stock price, 2) improving the effectiveness of dialogue with investors, 3) improving the quality of corporate
governance, and 4) further expansion of English disclosure practices.
In March 2023, TSE sent a notice and requests to listed companies regarding the following agenda from the
Council: "Action to Implement Management that is Conscious of Cost of Capital and Stock Price", "Better
Dialogue with Shareholders and Related Disclosure" and "Key Points and Examples of "Explanation" That
Contribute to Constructive Dialogue".
⇒ The council will continue to follow-up on listed companies' responses to these requests. (Report and
discussion scheduled for this fall)
In addition, it will also discuss making English disclosure of necessary information mandatory for
companies listed on the Prime Market.
© 2023 Japan Exchange Group, Inc.
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