New Jasdaq market begins trading

Kyodo

The new Jasdaq market for startup companies began trading Tuesday as one of the largest exchanges in Asia for emerging enterprises.

The bourse, formed through the integration of the Hercules and Jasdaq markets at the Osaka Securities Exchange, listed 1,005 companies with a total market value of ¥8.816 trillion as of the end of September.

The new Jasdaq has two sections — “standard,” which comprises 951 companies with assets and profits above certain levels, and “growth,” covering 54 companies with prospects of future expansion.

Following the launch of the new market, the Hercules index was terminated. The Jasdaq opened Tuesday trading at 48.08, 0.27 point higher than Friday’s close. Financial markets were closed Monday for a national holiday.

The OSE said it plans to enhance its oversight over the listed companies on the new market and expand services for investors to energize trading.

At the opening ceremony, OSE President Michio Yoneda showed readiness to support the efforts of the listed firms to expand their businesses abroad, including listing on the U.S. Nasdaq market.