While Japan’s stock market might have had an unassuming year overall, one sector is running red-hot: new listings.
December is set to see the most companies list in a single month in Japan, with a total of 32 firms due to go public before the end of the year, according to data compiled by Bloomberg. That would top the 31 firms that went to market in December 2005.
While a rush by companies to file listing applications by year’s end has been a factor, the 2021 figure has also been buoyed by growth in the number of information technology startups. Ventures had also delayed listings during the pandemic, with new coronavirus cases in the country now near their lowest since the pandemic began. Nomura Corp. — no relation to Japan’s largest brokerage — a more than 60-year-old maker of packaging for the food industry, kicked off proceedings in December. The shares fell nearly 20% on their debut Thursday.