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Impact Investing

IPE special report May 2018


Tokyo Stock Exchange announces a flotation plan

JAPAN – The Tokyo Stock Exchange (TSE) has announced an outline for its de-mutualisation plans in an interim report, ‘The Future Shape of TSE,’ following developments that started in February 1999, when the exchange’s securities policy committee published a report on re-structuring.

The report, published by an Ad hoc committee that was established on July 21 last year, praises de-mutualisation for speed of decision-making, greater variety and ease of financing, a new mindset, and the functional optimisation of the securities market as a whole.

Being the central Japanese market, the exchange suggests that it should continue to fulfil this role and to “ensure its place as a major international market.” Apart from domestic opportunities, the report also foresees greater freedom with international alliances and other co-operation abroad, should the exchange float.

No timetable has been set so far for TSE’s restructuring plans.

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