Tokyo bourse to keep most firms on new 'prime' market

TOKYO :Nearly 85per cent of the companies listed on the top section of the Tokyo Stock Exchange will be permitted on its new"prime" market in an April rebranding, the bourse said on Tuesday, potentially diluting its goal of creating a more prestigious main board.

Of 2,185 firms now listed on the main exchange, 1,841 have chosen the prime market, but 296 firms have not met the criteria, said the TSE, which is owned by Japan Exchange Group Inc.. Stricter rules for liquidity - market capitalisation in tradable shares of at least 10 billion yen with a tradable share ratio of 35per cent or more - are especially tough for small cap firms or those largely owned by parent companies or business partners.

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