January 29, 2009 - 4:56am
TOKYO AIM will provide a new funding option for growing companies in Japan and Asia, giving them access to a capital market specifically created for their needs and to a wider investor base, while creating new investment opportunities for Japanese and international professional investors.
To serve as a vehicle for the organization and management of a growth market Japan and related activities, TSE and the London Stock Exchange have formed a Japanese-incorporated company, held 51 per cent by TSE and 49 per cent by the London Stock Exchange.
Launch of TOKYO AIM is expected to take place in spring 2009 subject to the granting of a license by the Financial Services Agency of Japan. TOKYO AIM will play an important role in providing that funding for growing companies in the region considers Clara Furse, Chief Executive of the London Stock Exchange, as it will provide a suitable framework in which they can develop long-term relationships with professional investors, making it easier for them to gain access to capital throughout their development.
Adopting the AIM regulatory framework, the J-Nomad system will be central to the regulation of TOKYO AIM. In addition to the J-Nomad system support, companies will also benefit from: a choice of either Japanese or English for the disclosure of information; the use of International Accounting Standards and US GAAP in addition to Japanese GAAP; and the potential to reduce costs as a result of a principles-based regulatory approach that does not demand compliance with J-SOX or the filing of quarterly accounts.
Tokyo Stock Exchange Group, Inc and London Stock Exchange Group Plc presented TOKYO AIM rulebook for their new growth market for public comment.
TOKYO AIM will provide a new funding option for growing companies in Japan and Asia, giving them access to a capital market specifically created for their needs and to a wider investor base, while creating new investment opportunities for Japanese and international professional investors.
To serve as a vehicle for the organization and management of a growth market Japan and related activities, TSE and the London Stock Exchange have formed a Japanese-incorporated company, held 51 per cent by TSE and 49 per cent by the London Stock Exchange.
Launch of TOKYO AIM is expected to take place in spring 2009 subject to the granting of a license by the Financial Services Agency of Japan. TOKYO AIM will play an important role in providing that funding for growing companies in the region considers Clara Furse, Chief Executive of the London Stock Exchange, as it will provide a suitable framework in which they can develop long-term relationships with professional investors, making it easier for them to gain access to capital throughout their development.
Adopting the AIM regulatory framework, the J-Nomad system will be central to the regulation of TOKYO AIM. In addition to the J-Nomad system support, companies will also benefit from: a choice of either Japanese or English for the disclosure of information; the use of International Accounting Standards and US GAAP in addition to Japanese GAAP; and the potential to reduce costs as a result of a principles-based regulatory approach that does not demand compliance with J-SOX or the filing of quarterly accounts.