News Details

2024.03.29

【Com-Sec】 TSE to Expand English Disclosure in the Prime Market

List of news

ARK Outsourcing KK provides one-stop service mainly to Japanese branches or subsidiaries of foreign-based companies.
We provide latest topics about doing business in Japan in an easy dialogue style. 
In this article, we will introduce the expansion of English disclosure in the Prime Market, starting in March 2025.

Characters:
Ken (male):      
Ken is 22 years old. He has been with ARK for a year.
(He is excited about working with new employees.)
Emma (female):  
Emma is 34 years old. She is a mother of one child and a trainer at ARK.
(She’s so good at finding delicious tangerines.)
George (male):   
George is 46 years old. 
(He’s been enjoying going to the butting center.)

Ken: 
Ema, I heard that you are almost ready to join the FIRE movement. Is it true? Well, I’ve started investment with my Canadian girlfriend. I’m going to buy the same stocks with her. It is a little odd to invest in the same stocks as a portfolio investment, though.

Emma:
Ken, do you have a Canadian girlfriend? Do you want to invest in the same stocks with her? I can’t understand young people’s idea like you. Oh, do you know the news that starting in March 2025, 1,600 companies or so listed on the Prime Market are required to disclose important information both in Japanese and English simultaneously? A global-minded person like you might be interested in it.

George:
Ema, you know it well. The Tokyo Stock Exchange (TSE) wants to attract more foreign investors and will require simultaneous English disclosures of 1) financial results and 2) some key information. Earnings Reports (Quarterly / Annually) are a company’s financial results and give investors prompt information by disclosing the reports to the media earlier than the Annual Securities Report. Some key information includes commencement of a new businesses, change in representative directors, and dividend from surplus, which should also be disclosed timely for investors. As of October 2023, only 50% of listed companies disclose such information in English. Ken, please introduce me your girlfriend next time.

Conclusion
In this article, we mentioned “TSE to Expand English Disclosure in the Prime Market.” 
Please note that this article only introduces general outlines and does not include professional advice. So please make sure not to make any decisions without taking professional advice individually. If you have any questions, please feel free to contact us.

(Reference / in English)
Japan Exchange Group / Public Comments
Revision of the Listing Rules in Order to Expand English Disclosure in the Prime Market
(Accessed on 26 March, 2024)


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