JPX to Set TSE Realignment's Transitional Period by Yr-End
Tokyo, Feb. 24 (Jiji Press)--Japan Exchange Group Inc. <8697>, or JPX, will decide by year-end the length of the transitional period after the Tokyo Stock Exchange's realignment in April, JPX Group CEO Akira Kiyota said Thursday.
Kiyota made the remark in a seminar hosted by the Research Institute of Japan, a Jiji Press affiliate, explaining the realignment plan aimed at reinvigorating TSE trading by spurring the departure of weak companies to infuse new blood into the country's biggest stock market.
The TSE will reorganize its four market divisions, including the first section, into three--the Prime top-tier section, the Standard section for midsize companies and the Growth section for startups--in April.
Companies now in the TSE first section are allowed to move to the Prime section without meeting the new section's listing requirements and stay there during the transitional period. Some investors have criticized JPX for failing to clarify how long the period will last.
April 4, the day the market realignment takes place, is "not an end but a start," Kiyota said.
[Copyright The Jiji Press, Ltd.]