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Listed Companies' Intentions Regarding Market Selection

In this report we discuss the direction of market selection, shareholder returns, and business risks, etc.

March 12, 2021

Atsushi Kamio

Summary

◆Listed companies are making preparations ahead of the planned transition to a new market for the Tokyo Stock Exchange (TSE) on April 2022.

◆Recently, some companies have indicated the direction of their own market selection, the relevance of listing maintenance standards to their company, the concept of shareholder returns based on listing maintenance standards, and business risks involved in changing market classifications in explanatory materials accompanying their financial results.

◆While there are not many companies making their opinions public at this time, it is expected that an increasing number of companies will present their thoughts to investors as application for transition criteria dates and selection of new market segments approaches. It can be assumed that shareholders will ask which market the firm plans on selecting at the shareholder's meeting.

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