Disclosures

Mandatory English Financial Disclosures Coming to the Tokyo Stock Exchange

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Starting with English disclosures of quarterly financial information A Nikkei article on March 15, 2019 caught our attention. “Tokyo Stock Exchange to reduce first section listings by 30% – Market cap requirement to be raised and English disclosures mandated” https://asia.nikkei.com/Business/Markets/Tokyo-Stock-Exchange-to-reduce-first-section-listings-by-30 There is an ongoing deliberation at the Tokyo Stock Exchange to reduce the number of companies listed on the first section and to restructure its other existing markets (second section, Jasdaq, Mothers). According to the article, the new first section will require companies to maintain a market cap of 25 billion yen (currently 2 billion yen) and also mandate quarterly financial disclosures in English. Only 35% of companies listed on the first section are currently providing disclosures in English. It is still unclear when the […]