The Tokyo Stock Exchange (TSE) and the Japan Securities Dealers Association (JSDA) and others have launched an initiative to improve the distribution of corporate actions information from listed Japanese companies.
The TSE has announced that, from the current fiscal year, it will require companies listed on its first and second sections to disclose quarterly earnings via the TDnet, the TSE $B!G (Bs automated corporate information disclosure system. The same corporate information will be also posted on the TSE $B!G (Bs Japanese website free of charge for a certain period of time.
The TSE, the Japan Securities Dealers Association(JSDA) and other local exchanges and industry groups are working to create a Japanese website that publicizes important corporate events with potentially material impact on stock prices. The website is due to be launched in February 2004. The plan aims to simultaneously provide the same information to both investors and the media. Through the website, investors can obtain information at exactly the same time as it reaches the mass media, enabling them to promptly reflect the information to their stock trading decisions. Meanwhile, the Osaka Stock Exchange(OSE) is separately launching a similar corporate disclosure website.
The TSE, the Japan Securities Dealers Association(JSDA) and other local exchanges and industry groups are working to create a Japanese website that publicizes important corporate events with potentially material impact on stock prices. The website is scheduled to be launched in February 2004.
Unfortunately, the initiative will provide information in Japanese only. “However, it is hoped that it will facilitate increased availability of corporate information to non-resident investors through the media coverage in English,” says a spokesman for Bank of Tokyo Mitsubishi in Tokyo. “Overall, these moves by the TSE and other parties exemplify their efforts towards stock markets with transparency and drive of market forces.”