TSE to end TOKYO AIM joint venture with London Stock Exchange

Kyodo

The Tokyo Stock Exchange is planning to end its joint venture with the London Stock Exchange that operates TOKYO AIM, a market solely for professional investors, around July, sources said.

The TSE owns a 51 percent stake in the venture and plans to absorb its operations to reform the sluggish market, the sources said Monday.

TOKYO AIM was launched in June 2009 for corporate and other professional investors with the aim of trading shares of companies taking advantage of far easier listing requirements, but only one company has so far been listed, while another is scheduled to debut in April.

This is because securities companies have been reluctant to approve the listing of small companies as they could be held responsible for scandals involving listed firms.