Business / Financial Markets

IPOs in Japan almost flat in January-June period

JIJI

The number of initial public offerings in Japan was nearly flat at 41 in the first half of 2019, up one from a year before, Japan Exchange Group Inc. (JPX) said Tuesday.

The total amount of money raised by the IPOs decreased by more than half to ¥101.38 billion from ¥260.26 billion.

“Stock listings were active, mainly on the Mothers market,” Hidetoshi Nagata, an official at JPX’s Tokyo Stock Exchange said, referring to the TSE’s market for startups.

“But there were no IPOs valued at ¥100 billion or more,” Nagata said.

IPOs on the Mothers market totaled 27, or about 60 percent of the total. They included an IPO by Sansan Inc., a business card management service firm.

General contractor JDC Corp. made its stock market debut on the TSE’s first section in the six-month period.

The number of annual IPOs slumped to 19 in 2009 amid the global financial crisis before recovering above 80 in the past five years.

This year’s number is likely to be roughly the same as in recent years, Nagata said.