To enhance the global competitiveness of Japanese financial and capital markets, Tokyo Stock Exchange Group (TSE) and Osaka Securities Exchange have conducted a business combination to form Japan Exchange Group, Inc.
Following the business combination, TSE integrated the cash equity markets in July 2013. During the integration, to avoid confusion and any unnecessary burden on listed companies, as well as investors, the structure of the cash equity market was unchanged.
As a result, TSE currently operates four cash equity markets for investors, including non-professional; First Section, Second Section, Mothers, and JASDAQ. However, potential improvements are seen around the structure of the cash equity markets and related listing rules.
Therefore, in order to review the current cash equity market structure and how the market should be structured in the future, TSE today established the “Advisory Group to Review the TSE Cash Equity Market Structure”. The members of this advisory group are detailed below.
Members of the Advisory Group to Review the TSE Cash Equity Market Structure
- Chairman Hideki Kanda, Professor, Graduate School of Law, Gakushuin University,
- Member – Kazuhito Ikeo, Professor, Faculty of Economics, Rissho University
- Member – Sadakazu Osaki, Fellow, Head of Research, Center for Strategic Management & Innovation
- Member – Yuri Okina, Chairperson of the Institute, The Japan Research Institute, Limited
- Member – Etsuro Kuronuma, Professor, Graduate School of Law, Waseda University
- Member – Kazuhiro Takei Lawyer, Nishimura & Asahi