OSE formally approves Nasdaq Japan’s June start

OSAKA — The Osaka Securities Exchange formally endorsed a plan Tuesday to open the Nasdaq Japan stock market in June, exchange officials said.

With the decision by the board of governors, OSE President Kyoji Kitamura and Tatsuyuki Saeki, president of Nasdaq Japan Planning Co., will sign a business tieup agreement today.

The board also endorsed changes in exchange rules to pave the way for the creation of the new market.

Following approval by member brokerage houses at their extraordinary general assembly Friday, the OSE will seek Finance Ministry approval for the changes.

As part of preparations for the creation of the new market, the OSE will set up an office in Tokyo to coordinate with securities houses as well as companies to be listed on the Nasdaq Japan market.