Tradable Share Ratio and Share Liquidity Following Listing on the Tokyo Stock Exchange Growth Market
First written in FY2024-Q3. 2 of 4 entries say "Mitigated", first in FY2024. Latest entry: FY2026.
The whole theme swung hardest in 2025: 14 of 48 companies on the "Worse" side.
22 other companies' latest entry also says "Mitigated".
- FY2026MitigatedAnnual report
「The Tokyo Stock Exchange’s continued-listing standard is 25%, while the tradable share ratio is only 26.29%.」
The tradable share ratio increased from 25.18% to 26.29%, widening the margin over the 25% continued-listing standard. - FY2025WorsenedAnnual report
「The Tokyo Stock Exchange’s continued-listing standard is 25%, while the tradable share ratio is only 25.18%.」
The tradable share ratio declined from 26.55% to 25.18%, approaching the 25% continued-listing standard for the Tokyo Stock Exchange Growth Market. - FY2024MitigatedAnnual report
「The Tokyo Stock Exchange’s continued-listing standard is 25%, while the tradable share ratio is only 26.55%.」
The tradable share ratio increased from 25.5% at listing to 26.55%, above the 25% continued-listing standard for the Tokyo Stock Exchange Growth Market. The policy of requesting partial secondary offerings by major shareholders continues. - FY2024-Q3First statedAnnual report
「We listed on the Tokyo Stock Exchange Growth Market in December 2023 and are working to secure liquidity through a public offering and secondary offering. However, the Tokyo Stock Exchange’s continued-listing standard is at least 25%, while the tradable share ratio was only 25.5% at the initial listing. We plan to improve liquidity by requesting that major shareholders conduct partial secondary offerings, but if liquidity declines for any reason from its level at listing, trading in our shares could stagnate and adversely affect supply and demand. Even if our listing on the Tokyo Stock Exchange is delisted, trading in our shares on the Nagoya Stock Exchange will remain possible.」
The company first disclosed that the tradable share ratio was only 25.5%, compared with the 25% continued-listing standard for the Tokyo Stock Exchange Growth Market, and identified the risk of stagnant trading if liquidity declines. Requesting partial secondary offerings by major shareholders is the stated response.