Tokyo bourse overhaul spurs prime market push for Japanese cos
Mount Fuji and buildings in the Shinjuku district are reflected on a table at an observation deck in Tokyo, Japan. Photographer: Kiyoshi Ota/Bloomberg
By Makiko Yamazaki, Yuki Nitta
July 20, 2021
Tighter requirements to stay on the Tokyo bourse’s prestigious main board are forcing Japanese companies to cease long criticised practices such as cash-hoarding and cross shareholdings, even as some investors call for tougher reform.
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The deal brings Japan in line with a global trend towards consolidation that has created bourses trading everything from currencies to cheese.
“The lack of transparency is the biggest problem at Toshiba,” said Hiromi Yamaji in an interview.
