London Stock Exchange and Tokyo Stock Exchange to establish a new growth market


In October 2007 the London Stock Exchange and Tokyo Stock Exchange announced their intention to establish a new market for emerging companies in Japan. This market will build on the London Stock Exchange’s success in creating and developing a market structure designed for smaller companies through AIM, and the Tokyo Stock Exchange’s local expertise and infrastructure.

The new market will address the funding gap faced by growing companies in Japan and elsewhere in Asia, while providing new opportunities for a range of Japanese and international professional investors.


Permission to establish the market will be sought as soon as possible following the implementation of the revised Financial Instruments and Exchange Act in Japan. We aim to begin full operations early 2009.


Consultation on the Market Framework

We are holding a consultation on the proposed structure for the market, based on the current AIM regulatory model. It is specifically designed to suit the needs of smaller, growing companies and includes the key role played by Nomads in assisting issuers meet their obligations as public companies.


Please see below for the Consultation documents:


* Framework for New Growth Market

* Appendix 1: J-Nomad System

* Appendix 2: Trading System

* Appendix 3: Trading Participants System

To access these documents in Japanese please go to http://www.tse.or.jp/news/200807/080729_b.html

Press Releases
Please see the following press releases for more information on the new market:


Further Information

To supply feedback on the market framework consultation documents, or for further information, please email japanesegrowthmarket@londonstockexchange.com

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