Live Webinar
Japan's New Stock Market
Wednesday, February 16, 2022 | 7:00–8:00 PM (EST)
Thursday, February 17, 2022 | 9:00–10:00 AM (Japan Time)
Featuring: Hiromi Yamaji, President & CEO, Tokyo Stock Exchange, Inc.
Moderator: Alicia Ogawa, Director, Project on Japanese Corporate Governance and Stewardship, CJEB
What you'll learn:
- JPX, the company which owns Japan's major stock exchanges, has announced a complete overhaul of listing requirements. For decades, investors have complained that becoming a publicly traded company in Japan has been nothing but an exercise in publicity and status-seeking. Many investors feel that once a company becomes listed on the exchange, little effort is made to support its share price, to engage with investors, and to promote liquidity of its shares.
- The aim is to winnow down the "top" segment of the market, and to allow only companies which are actively traded and which demonstrate good corporate governance into the "prime" segment. This is expected, among other things, to create competition among the best-run Japanese companies to improve their corporate governance and their attention to share price even further.
- The reforms are expected to have far-ranging consequences. The composition of stock market indices, the make-up of boards of directors, and the commitment to holding cross-shareholdings will be affected. Indeed, in anticipation of the reforms, many Japanese companies are seeking corporate reforms such as mergers and spin-offs in order to better comply with new requirements, or are considering going private (through MBOs or sales to private equity firms) in order to avoid the new requirements altogether.
Admission and Contact:
This is a free event. You must register here for the webinar to receive the login details. Participants will receive a link to access the live webinar upon registration.
