TSE Listing System Improvements for FY08

Comprehensive Improvement Program for the TSE Listing System

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July 23, 2008

  • Jun Yokoyama

Summary

◆TSE published its “Listing System Improvement FY2008” on 27 May, 2008.


◆This announcement describes “facilitating enhanced corporate governance of listed companies” as part of the TSE’s basic strategy for FY2008. Specific issues of concern include “issuance of new shares, etc., causing substantial dilution to existing shareholders” and “a situation in which takeover defense measures are introduced in a concerted manner”. 


◆The TSE is also continuing its follow-up on the Comprehensive Improvement Program for the Listing System 2007. In particular, issues it is considering include establishing a market for professionals, and the proper approach for listing a company that has a special business structure, such as a special-purpose acquisition company.

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