Update : Aug. 14, 2013
In preparation for listing, prospective companies must prepare internal structures based on the advice of securities companies, audit firms, and other related parties.
It is common for prospective companies to proceed with preparations for listing which receiving guidance from experts conducting an accounting audit (audit firms or CPAs).
The Japan Institute of Certified Public Accountants publishes the "Initial Public Offering Preparation Guidebook" to assist companies which have not yet received advice from an audit firm or CPA.
This guidebook contains important points for establishing an accounting structure in preparation for listing and explanations regarding audit contracts in the 2 years prior to listing.
Furthermore, the auditor at the time of listing must be a listed company audit firm (including associate registered audit firms pursuant to the JICPA's Listed Company Audit Firm Registration Rules (limited to entities which have undergone JICPA quality control review)).
Release of "Initial Public Offering Preparation Guidebook," a preparatory guide book for initial listing by the Japan Institute of Certified Public Accountants
Securities companies serve many roles during listing. During preparation for listing application, they provide advice regarding capital measures and internal systems, offer support for listing procedures, and examine company details for underwriting of public/secondary offerings.
Additionally, when underwriting a public/secondary offering for listing, they have the responsibility of executing certain procedures according to the listing schedule.
The securities companies supporting a listing applicant are referred to as "managing securities companies." The managing securities company which provides primary support to the listing applicant is referred to as the "lead managing securities company," and is responsible for submitting a "written recommendation" to the Exchange for the applicant's listing.
-Ichiyoshi Securities Co.,Ltd.
-H.S. SECURITIES CO.,LTD.
-SMBC Nikko Securities Inc.
-SMBC Friend Securities Co.,Ltd.
-SBI SECURITIES Co.,Ltd.
-OKASAN SECURITIES CO.,LTD.
-JPMorgan Securities Japan Co.,Ltd.
-Daiwa Securities Co.Ltd.
-Tokai Tokyo Securities Co.,Ltd.
-TOYO SECURITIES CO.,LTD.
-Nomura Securities Co.,Ltd.
-Mizuho Securities Co.,Ltd.
-Mitsubishi UFJ Morgan Stanley Securities Co.,Ltd.
-Merrill Lynch Japan Securities Co.,Ltd.
-UBS Securities Japan Co., Ltd.
(As of January 4, 2013)
A shareholder services agent is recommended for the smooth execution of shareholder services, including entrustment of duties related to the shareholder registry and processing of voting, dividend, and other shareholder rights.
Shareholder services agents are required to ensure the confidence and convenience of investors based on factors such as scale and organization. The shareholder services agents approved by TSE are as below.
List of Shareholder Services Agents (Rule 212, Paragraph 8 of the Enforcement Rules for the Securities Listing Regulations)
-Tokyo Securities Transfer Agent Co., Ltd.
-Japan Securities Agents, Ltd.
-IR Japan, Inc.
(As of April 1, 2012)