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TOKYO PRO Market
TPM
The general listed market, such as the Tokyo Stock Exchange Prime, Standard, and Growth, is quite different from the structure of the investor and listing.
There are three major features:
| Features | 内容 |
|---|---|
| Investors | Mainly for professional investors such as specific investors |
| Listing System | J-Adviser has a major role in supporting listed and listed |
| Marketability | It is easy to list, but it is necessary to pay attention to liquidity and information volume |
The first thing that beginners should push is that Tokyo Pro Market is a “listed market”, but it is not a market where ordinary individual investors buy and sell in the same sense as the Toshin Prime or Growth.
When viewed from the company side, it may be used as a step-by-step preparation for the future general market, such as improving credibility, recr。ing, 感 security to business partners.
When viewed by the investor, it is necessary to consider the stability of counter-face, liquidity, disclosure volume, governance, and performance that may be found early.
What is TOKYO PRO Market?
TOKYO PRO Market
For institutional purposes, investors who can buy directly at TOKYO PRO Market are mainly limited to specific investors and non-residents.
This is a big difference with the ordinary listed market.
TSE Prime, Standard, and Growth can be purchased and sold widely by general investors with securities accounts. TOKYO PRO Market
In other words, Tokyo Pro Market is not a market that anyone can buy normally because it is listed.
If you make a mistake here, you will be surprised.
How to make
TOKYO PRO Market is a market for growing companies to offer more flexible listing options.
In the regular listed market, companies are required to provide high disclosure system, governance, internal management system, and investors.
Of course, it is necessary to protect investors.
However, for small and medium-sized companies and companies in the middle of growth, it may be a burden to list on the general market suddenly.
TOKYO PRO Market may be used as a market for determining disclosure and governance while earning trust as a listed company.
For companies, there is a side that is close to the battlefield of preparation for listing before going to a large market.
The difference between the market
If you organize the difference between the TOKYO PRO Market and the normal market, you can:
| 項目 | TOKYO PRO Market | Normal Market |
|---|---|---|
| Major Investors | Special Investors | Individual investors, institutional investors |
| Buy | General investors are limited | Easy to buy and sell general investors |
| Listing Review | J-Adviser | The center of Tokyo Stock Exchange |
| Listing Standard | Flexible | Strict standards per market |
| Liquidity | Easy to understand | Relatively high |
| 情報量 | Less snug | Anal s and reports |
In a word, Tokyo Pro Market is a market that is easy to list for companies, but it is necessary to read it for investors.
It is a little dangerous if you look at the same nori as ordinary IPO.
Features of the J-Adviser system
J-Adviser system is important to understand TOKYO PRO Market.
J-Adviser is a specialized institution certified by the Tokyo Stock Exchange. We will investigate, confirm, and support the listed companies.
In regular listings, the examination of the Tokyo Stock Exchange and the main stock company has a great meaning.
In TOKYO PRO Market, J-Adviser has a very important role.
However, it does not mean that it is completely safe because it has J-Adviser.
The responsibility as a listed company is to the company and the management team. Investors need to check their business content, finance, governance, and disclosure posture by themselves.
What companies use
There are a lot of local companies, small and medium enterprises, and growth companies that use the TOKYO PRO Market.
The purpose is different from the company, but there are mainly the following objectives:
| Purpose | 内容 |
|---|---|
| Improve credit | Enhancing credit from business partners and financial institutions as listed companies |
| RECRUIT | Make it easier to hire human resources by writing as a listed company |
| Name | Expand awareness of local companies and niche companies |
| Capital Policy | Prepare for future financing and M&A |
| Step Up | Aiming to migrate to Growth and Standard |
In particular, the credit of a listed company is large for local companies.
The listing status may work positively, such as dealing with banks, local governments, large companies, hiring activities, and dealing with successors.
Advantage 1: Expanding Listing Options
TOKYO PRO Market
In order to list the market normally, you need to prepare a substantial amount of revenue, internal management, disclosure system, audit response, etc.
TOKYO PRO Market is a market for professional investors.
For this reason, local companies and mid-sized companies have an easy-to-use aspect as a place to gain the experience as a listed company before they are going to become a general market.
Benefit 2: Increased Credit
Tokyo Pro Market
By becoming a listed company, the view from business partners, financial institutions, job seekers and local governments may change.
For example, in terms of hiring, "listed companies" than "unlisted local companies" are more comfortable to give the candidate a sense of security.
You may be able to compliment your trust with a large company in terms of sales.
Of course, the business is not strong just by listing.
However, creditworthiness is a very practical weapon for growth companies.
Benefit 3: Become the entrance of step-up
TOKYO PRO Market is a step-up gateway for companies aiming for the general market in the future.
In fact, there are companies moving from Tokyo Pro Market to Tosho Growth and Standard.
However, this is where it is calm.
Since I was listed on the TOKYO PRO Market, it is not always possible to go to the general market.
In order to move to the general market, it is necessary to exceed even higher ルdles such as performance, liquidity, number of shareholders, governance, and disclosure system.
"TPM Listing = Future TSE Growth Listing" is not.
Demerit 1: Low liquidity
TOKYO PRO Market
The liquidity is whether it is easy to buy or sell shares.
Due to limited number of buyers, it is easier to buy and sell more than usual market. It is a market that is easy to buy when you want to sell, you can not buy at the desired price when you want to buy.
The value movement may become rough even if the volume is low.
It is not a market where a beginner thinks that it is safe because it is a stock listed.
Demerit 2: Less information
TOKYO PRO Market is a brand that can reduce the amount of information compared to the famous company of Prime and Growth.
There are few reports and there are no news.
It is necessary to read the company's official disclosure, issuer information, financial statement, and governance report yourself.
This is a burden for investors.
On the other hand, there is also a chance to find companies that aren’t well aware of the market for those who can read the materials properly.
However, this is a risk and set.
Demerit 3: For Professional Investors
TOKYO PRO Market
In the system, investors who can buy are limited to specific investors and non-residents.
If a general investor holds a Tokyo Pro Market listed share for some reason, it is possible to sell through the market, but it is not a market that sells and buys like a normal market.
In other words, it is not a market for beginners to become the main battlefield for finding symbols.
First of all, it is more practical to learn the market structure.
Important points from investment perspective
When you look at the TOKYO PRO Market, you want to check the following points than when you look at the regular stock listing.
| ation | Reason |
|---|---|
| Business | Is there a growth potential in niche? |
| Sales and profit | Can I continue to grow after listing? |
| Cash Flow | Is profit d by cash? |
| Shareholders | Is there a problem with protection of minority shareholders? |
| J-Adviser | Which institutions are in charge |
| Liquidity | Is buying and selling easy? |
| Contact Us | continuous financial results and KPIs |
Especially important is the post-listed disclosure posture.
The TOKYO PRO Market brand has a low profile, and the view of how carefully the company itself explains.
Easy to misunderstand for beginners
The first misconception is the concept of "safety because it is listed".
This is different.
TOKYO PRO Market is a listed market, but it is a professional market operated by a more flexible system than the usual market. It’s different that you are listed and your investment risk is low.
The second misconception is the viewpoint that the company listed on the Tokyo PRO Market will always accept Gloss and Standard.
This is also different.
There are companies aiming to step up, but not all companies move to the general market. There are companies that do not have business performance, and there are companies that do not have high liquidity.
The third misconception is a view that aims to achieve the first and short-term movements as usual IPOs.
TOKYO PRO Market is not a short-term trading market, it is close to the market to see how the company is growing and preparing for listing.
The concept for beginners
For beginners, it is better to look at the Tokyo Pro Market as a topic to learn the market structure rather than to see it as an investment target.
First of all, understand the differences between Toshin Prime, Standard and Growth.
Next, push the basics of decentralized investments such as ETFs and investment trusts.
Then, when you look at TOKYO PRO Market, you can understand that there are various types of listed markets.
TPM is the gateway to growth companies and is a market for professionals.
There is an interesting market, but it is not a safe market for beginners.
TOKYO PRO Market
The major difference between the market is the investor, the listing system, liquidity, and the amount of information.
For companies, it is a market that can be used to improve credibility, recr。ment, security to business partners, and to prepare for future steps.
On the other hand, there is a low liquidity, a small amount of information, and a difficulty in verifying governance.
It is important for beginners to understand TOKYO PRO Market as a flexible market designed for professionals, rather than just looking at the same way as the “normal listed market”.
First of all, if you press the J-Adviser system, investor limit, and liquidity risk, the overall image of TOKYO PRO Market is quite visible.