TSE News

Removal of Partial Revision to Criteria for Market Capitalization, etc. pertaining to Listed Stocks

Update : Nov. 29, 2013

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[Tokyo Stock Exchange, Inc.]

With regard to the criteria for reassignment to the 2nd Section from the 1st Section and the delisting criteria, TSE implemented partial revisions to the criteria for market capitalization and market capitalization of tradable shares and will continue to apply such revisions until the end of Dec. 2013.
The revisions were implemented at the end of Jan. 2009 following the rapid deterioration of overall stock market conditions. However, in light of the current stock market conditions, TSE shall apply the revisions until the end of Mar. 2014 and start to apply the pre-revision criteria with effect from Apr. 01, 2014.

【Market Capitalization Criteria before and after Removal】
  Before
(Criteria applied until Mar. 2014)
After
(Criteria applied from Apr. 2014 onward)
Criteria for Reassignment
to the 2nd Section from the 1st Section
Criteria for Market Capitalization Less than
JPY 1.2 billion
Less than
JPY 2 billion
Criteria for Market Capitalization of Tradable Shares Less than
JPY 600 million
Less than
JPY 1 billion
Delisting Criteria for Main Markets
(1st / 2nd Sections)
Criteria for Market Capitalization Less than
JPY 600 million
(Less than JPY 300 million)
Less than
JPY 1 billion
(Less than JPY 500 million)
Criteria for Market Capitalization of Tradable Shares Less than
JPY 300 million
(Less than JPY 150 million)
Less than
JPY 500 million
(Less than JPY 250 million)
Delisting Criteria
for Mothers
Criteria for Market Capitalization Less than
JPY 300 million
Less than
JPY 500 million
Criteria for Market Capitalization of Tradable Shares Less than
JPY 150 million
Less than
JPY 250 million
Delisting Criteria
for JASDAQ
Criteria for Market Capitalization of Tradable Shares Less than
JPY 150 million
Less than
JPY 250 million

  • (*1)The criteria in parentheses shall be applied, for a specified period as a transitional measure, to companies that were listed on the main markets of Osaka Securities Exchange as of Jul. 15, 2013 (excluding those that were listed on TSE as of the same date).
  • (*2)In cases of being in the grace period pertaining to the criteria for reassignment or delisting due to falling under the criteria before the removal of the revisions, for removal of the grace period in or after Apr. 2014, such company shall be required to satisfy the criteria after the removal of the revisions.
  • (*3)In conjunction with the removal of the revisions, for listed companies that incurred damages arising from the Great East Japan Earthquake, TSE will introduce special measures for delisting criteria pertaining to market capitalization and market capitalization of tradable shares.

Contact

Tokyo Stock Exchange, Inc.
Listing Department
Planning Group (for listing issues)
Tel: +81-3-3666-0141

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