Update : Aug. 17, 2012
Every listed company must secure a liquidity provider – a market participant (securities firm) that works to ensure orderly trading of the listed company’s securities on the Exchange. The J-Adviser will help the listed company secure such a provider, often taking on that role itself.
Legal advisers are steadily gaining presence within existing Japanese equity markets, and we anticipate that they will also assume a crucial role within TOKYO PRO Market, particularly as they assist in due diligence at the time of listing and around corporate transactions undertaken by TOKYO PRO Market companies.
Legal advisers play a vital role on AIM in the UK, where they provide a range of services including:
•Supporting Nomads in their due diligence investigations
•Assisting client companies with the preparation of listing
Accountants conduct audits of listing applicants and listed companies to ensure they are in accordance with acceptable accounting standards. TOKYO PRO Market accepts financial statements prepared in accordance with IFRS, Japanese GAAP or US GAAP. At the time of listing, accountants will work together with the J-Adviser and listing applicant.
Accountants play a similarly important role on AIM in the UK, where, in addition to the above, they also provide guidance and advice on financial and accounting matters to companies before and after listing.
TOKYO PRO Market requires that listed companies work to facilitate the release of analyst reports on a regular basis. IR companies, PR firms, and investment information providers will all come to play innovative roles within the TOKYO PRO Market framework to help companies increase their public profiles, as witnessed with AIM in the UK.