Listing
Criteria for Reassignment to the Second Section from the First Section
Update : Dec. 04, 2012
Domestic Stocks
As of Dec. 04, 2012
| Items | Criteria for Reassignment |
| No. of Shareholders (*1) | Less than 2,000 (a one-year grace period applies) |
| No. of Tradable Shares (*2) | Less than 10,000 units (*3) (a one-year grace period applies) |
| Market Capitalization of Tradable Shares (*4) |
Less than JPY 1 billion (a one-year grace period applies) (*until the end of Dec. 2013, this criterion shall be less than JPY 600 million) |
| Market Capitalization (*5) |
In cases of less than JPY 2 billion, it does not reach at least JPY 2 billion within nine months (three months if predetermined documents are not submitted) (*until the end of Dec. 2013, this criterion shall be less than JPY 1.2 billion) |
| Liabilities in Excess of Assets | If a listed company falls into the state of liabilities in excess of assets (as a general rule, based on a consolidated balance sheet) |
| Trading Volume | Average monthly trading volume over the most recent year is less than 40 units. |
- (*1)"No. of Shareholders" represents the number of shareholders who own one unit or more.
- (*2)"Tradable Shares" refer to listed shares excluding shares held by entities who individually own 10% or more of listed shares, and other shares as specified in the Enforcement Rules for Securities Listing Regulations as those that are readily traded.
- (*3)One unit means the number of shares per Share Unit when the Share Unit system is adopted, and one share if the Share Unit system is not adopted
- (*4)"Market Capitalization of Tradable Shares" means the amount obtained by multiplying the closing price of its stock in auction trading at TSE at the end of the business year by the number of tradable shares at the end of such business year.
- (*5)"Market Capitalization" is the average monthly market capitalization (the average amount obtained by multiplying the closing prices of each day in auction trading at TSE by the number of listed shares on the day) or the market capitalization at the end of the month (the amount obtained by multiplying the closing prices at the end of the month in auction trading at TSE (if there is no closing price, the most recent closing price will be applied) by the number of listed shares at the end of the month).