The Tokyo Stock Exchange has been saying for some time that investors and listed companies could be the biggest winners in a global realignment of the world's major stock exchanges, a shakeup that has been gathering pace, as seen in the TSE's tieup talks with bourses in New York and London.
While that may be true, fear of being left behind as it struggles to hold its position as one of the world's top financial markets, rather than concern for companies or their shareholders, appears to be spurring the TSE's search for partners.
Collaborating with other major bourses "would generate benefits for investors and listed companies." This is the refrain from TSE President Taizo Nishimuro at news conferences and elsewhere.