Japan’s top two stock exchanges are starting campaigns to lure overseas investors after agreeing last month to merge amid falling trading volumes.
Tokyo Stock Exchange Group Inc. is starting an English-language magazine, called Evolving Japan, targeting foreign investors, said bourse spokesman Kazuhiko Yoshimatsu. Osaka Securities Exchange Co. will hold its first overseas investor relations event this week to promote startup companies listed on its Jasdaq exchange, including auction website Rakuten Inc., according to Yumi Ito, a manager at the bourse’s corporate services development group.
The effort to interest foreign investors, who account for about two-thirds of the turnover on Japanese exchanges, comes as Europe’s debt crisis deepens a four-year slump in trading volumes. It also comes amid increasing competition from China, which in 2008 surpassed Japan as the world’s second-largest equity market.
“We need to be more aggressive about getting information to foreign investors, who are the main players in the market,” said Tokyo Stock Exchange’s Yoshimatsu. “We will continue to strengthen our efforts.”
The two bourses said on Nov. 22 they have reached a basic agreement to merge by January 2013. A combination would give the 133-year-old Tokyo venue, home to Sony Corp. and Toyota Motor Corp., access to Osaka’s derivatives trading system, while helping cut costs.
Evolving Japan will be posted on the Tokyo Stock Exchange’s website as early as Monday and will be distributed through overseas brokers, Yoshimatsu said. The magazine’s first issue features articles by Minister of National Strategy Motohisa Furukawa and Tadashi Yanai, chief executive officer of Fast Retailing Co., he said.
Executives from Rakuten, slot-machine developer Fields Corp. and seven other companies listed on the Jasdaq exchange will give presentations at an event Monday and Tuesday in London hosted by the Osaka bourse and Daiwa Securities Capital Markets Co., Ito said. Jasdaq, Japan’s biggest market for startups, is owned by the Osaka exchange.
By subscribing, you can help us get the story right.