TSE News

Application of the Criteria on Market Capitalization, etc. on Listed Companies Affected by the Great East Japan Earthquake

Update : Apr. 06, 2011

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[Tokyo Stock Exchange, Inc.]

In light of the effect of the Great East Japan Earthquake which occurred on Mar. 11, 2011, TSE will handle cases of listed companies which, thereafter, fall under the criteria for reassignment to the 2nd Section from the 1st Section (criteria on market capitalization) or the delisting criteria (criteria on market capitalization, and criteria on stock price on Mothers) as follows.

(1)As a special measure in response to this disaster, where documents containing descriptions on the current state of business, future developments, improvement of business plans, and other matters deemed necessary by the Exchange could not be submitted by the original submission deadline (within 3 months after falling under the criteria), such documents may be submitted by Dec. 2011.
(2)In such cases, the grace period for reassignment to the 2nd Section from the 1st Section or delisting shall be until the end of Jun. 2012.

<Criteria subject to Application>

Criteria Provision
Criteria on Market Capitalization Securities Listing Regulations, Rule 311, Paragraph 1, Item 4(Reassignment criteria)
Criteria on Market Capitalization Securities Listing Regulations, Rule 601, Paragraph 1, Item 4, Sub-item a. (Delisting criteria)
Criteria on Market Capitalization Securities Listing Regulations, Rule 603, Paragraph 1, Item 5, Sub-item a. (Delisting criteria)
Criteria on stock price on Mothers Securities Listing Regulations, Rule 603, Paragraph 1, Item 5-2 (Delisting criteria)

(Reference)
1. Provisions for application of these measures (Securities Listing Regulations, Rule 311, Paragraph 1, Item 4 and others)
"provided, however, that where the general market condition rapidly deteriorates, and when the Exchange deems that these criteria are not appropriate, the Exchange shall specify the criteria pertaining to the market capitalization of the tradable shares on a case by case basis."
2. Content subject to application in normal cases (Securities Listing Regulations, Rule 311, Paragraph 1, Item 4 and others)
Reassignment or delisting "where the market capitalization is less than the required value and does not reach at least the required value within 9 months (3 months in cases where the company does not submit to the Exchange a document containing the present status of the business, future development, improvement of business plan and other matters deemed necessary by the Exchange within 3 months)".

DISCLAIMER: This translation may be used only for reference purposes. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. Tokyo Stock Exchange, Inc., Tokyo Stock Exchange Group, Inc., and/or Tokyo Stock Exchange Regulation shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, or misunderstanding with regard to this translation.

Contact

Tokyo Stock Exchange, Inc.
Listing Department
Listed Company Services
Tel: +81-3-3666-0141

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