Connect with us


New Tokyo Stock Exchange chief is ESG supporter but wary of PSPC boom




TOKYO – The Tokyo Stock Exchange will push Japanese companies to adopt stronger governance rules through an ambitious reorganization in a “big step to become the stock exchange of choice for global investors,” TSE’s new chief told Nikkei in an interview.

Hiromi Yamaji, who took the presidency on April 1, faces a particularly competitive environment as stock exchanges around the world seek investors. As environmental, social and governance, or ESG, issues become key investment standards, the TSE will prompt companies to step up their efforts based on their market classification.

“As countries compete to raise awareness of ESG among businesses, Japan cannot be left out,” Yamaji said.

The reorganization slated for April next year will reorganize the TSE into three sections, including a top Prime Market. Companies listed on the Prime market will have to meet more stringent disclosure standards, such as those relating to climate change risks.

The idea is to provide clarity by assigning companies to the market that matches their market capitalization. Stricter governance standards will encourage efforts that will increase the value of the company.

Yamaji is also keen to cultivate Japanese individual investors. “It is also important to broaden the investor base in the country,” said the new president. To this end, the TSE will increase the use of the Internet to familiarize people with investing.

As for TSE’s goal of launching 100 initial public offerings, “it is important to improve the quality [of IPOs] while achieving this goal stably, ”Yamaji said.

Wall Street has seen a boom in listings by Special Purpose Acquisition Companies, or SPACs, which raise cash through an initial public offering before finding a promising private company to partner with. PSPCs raised tens of billions of dollars in 2021, with the involvement of the rich and famous, such as Jay-Z and Bill Ackman.

But Yamaji issued a cautious tone about allowing SPAC listings on the Tokyo Stock Exchange.

The listing of PSPCs “should be given careful consideration based on recent market conditions,” Yamaji said, adding that “investor protection will be a challenge.”

The TSE considered allowing PSPCs to be listed in 2008, but the plan was scrapped due to lukewarm demand, according to Yamaji.

But other Asian exchanges jump into the group’s wagon. The Singapore Stock Exchange plans to open the exchange to PSPCs as early as the middle of the year. The Hong Kong and Indonesian markets are also considering the move in hopes of attracting promising Asian startups.

Yamaji, former chairman of the Osaka Stock Exchange, steps into his new role as the stock market tries to regain investor confidence. The stock exchange suffered a system crash that halted trading for all day on October 1 of last year, resulting in the resignation of then-president Koichiro Miyahara.

“Restoring confidence and ensuring stable operations in the market are major issues at the moment,” said Yamaji.

Last month, the TSE released the final report of the system problem. Yamaji said he would enlist the help of brokerage firms and other partners to continue training employees to “prevent a recurrence.”

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]