Tuesday May 2, 4:45 am Eastern Time
Nasdaq Japan to accept requests for listing May 8
TOKYO, May 2 (Reuters) - Nasdaq Japan, a new exchange for venture firms to be set up on the Osaka Securities Exchange (OSE), said on Tuesday it will start taking applications on May 8 from companies wishing to list on it.
An OSE official said the market is expected to launch trading in mid to late June, depending on progress in technical conditions.
Nasdaq Japan Inc, a joint venture between Internet investor Softbank Corp and the National Association of Securities Dealers, parent of the U.S. Nasdaq market, is to launch the market as a new section of the OSE.
Competition has intensified in recent months among Japanese exchanges aiming to list shares in Internet-related and other high-tech startups.
In December, the Tokyo Stock Exchange launched its Mothers market for startup companies, while many high-tech venture firms are traded on the over-the-counter (OTC) market.
Nasdaq Japan aims to list 100 companies in its first year of operation, including 10 with market capitalisation of more than one trillion yen ($9.21 billion).
Last week, Nasdaq Japan Inc President Tatsuyuki Saeki said the exchange expects to start trading with five initial public offerings and three or four companies that are currently registered on the OTC market. The listings may include major Japanese Internet portal Yahoo Japan Corp , which is currently registered on the OTC market, he said.
The following companies have said they will seek to list on Nasdaq Japan.
-- Applied Materials Inc (NasdaqNM:AMAT - news). U.S. semiconductor equipment maker.
-- Cisco Systems KK. Japanese unit of Cisco Systems Inc (NasdaqNM:CSCO - news), a top U.S. maker of computer networking equipment.
-- Xnet Corp. Tokyo-based computer systems provider for corporate customers.
-- Creek and River Co Ltd. Job agency for creators of visual content, headquartered in Tokyo.
-- Sugi Pharmacy Co Ltd. Drug store chain operator active in central Japan.
-- Digital Design Co Ltd. Computer software developer.
-- Digicube Co Ltd . Wholesaler of game software, music CDs and videos to convenience stores, currently traded on the over-the-counter market.
-- Masternet Co Ltd . Major Internet service provider currently traded on the OTC market.
($1 equals 108.61 Yen) |
