Tokyo bourse overhaul spurs prime market push

Biggest reform: A file picture showing a man walking past a stock indicator displaying numbers of the Nikkei 225. The TSE will introduce tighter listing criteria next year. — AFP

TOKYO: 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.

In the biggest overhaul of Japan’s stock markets in a decade, Tokyo Stock Exchange (TSE) will introduce next year tighter listing criteria for the top category, which 30% of almost 2,200 companies listed on its main section currently do not meet.