The Tokyo Stock Exchange ( ??????? , T? Ky? Sh ? ken Torihikijo ) , called T? sh? ( ?? ) or TSE/TYO for short, is a stock exchange located in Tokyo, Japan. It is the fourth largest stock exchange in the world with the aggregate market capitalization of listed companies, and the largest in Asia. It has 2,292 listed companies with a combined market capitalization of US $ 4.09 trillion as of April 2015.
In July 2012, a merger planned with Osaka Securities Exchange was approved by the Japan Fair Trade Commission. The resulting entity, Japan Exchange Group (JPX) (???????????????? Nihon Torihikijo Gur? Pu ), launched on January 1 2013.
Video Tokyo Stock Exchange
Structure
TSE was included as gaish kabushiki with nine directors, four auditors and eight executive officers. Its headquarters is located at 2-1 Nihonbashi-Kabutoch? (ja: ?????), Ch ??, Tokyo, or "Kabuto-ch?", which is Japan's largest financial district. The operating hours are 8: 00-11: 30 am, and 12: 30-5: 00 pm. From April 24, 2006, the afternoon trading session started at the usual time of 12:30 pm.
Shares listed on the TSE are separated into First Section for large companies, Part Two for medium-sized companies, and Mothers (Markets of high growth and stock appearing ) ( ja: ???? ) section for startup companies with high growth. As of October 31, 2010, there were 1,675 First Section companies, 437 Part Two companies and 182 Mothers companies.
The main index tracking the TSE is the Nikkei 225 index of the firm selected by Nihon Keizai Shimbun (Japan's largest business newspaper), the TOPIX index based on the company's stock price of First Section, and the J30 index of a large industrial company that managed by major Japanese broadsheet newspapers.
Ninety-four domestic securities firms and 10 foreign companies participated in TSE trading. View: Members of Tokyo Stock Exchange
Other TSE related institutions include:
- The press club of the bursa, called Kabuto Club ( ja: ???? , Kabuto kurabu ) , who met on the third floor of the TSE building. Most Kabuto Club members are affiliated with Nihon Keizai Shimbun, Kyodo News, Jiji Press, or business television broadcasters like Bloomberg LP and CNBC. The Kabuto Club is generally busiest during April and May, when public companies release their annual accounts.
On June 15, 2007, TSE paid $ 303 million to acquire a 4.99% interest in Singapore Exchange Ltd.
Maps Tokyo Stock Exchange
History
Prewar
Tokyo Stock Exchange was established on May 15, 1878, as Tokyo Kabushiki Torihikijo under the direction of then Finance Minister Okuma Shigenobu and capitalist advocate Shibusawa Eiichi. Trade started on June 1, 1878.
In 1943, the exchange was combined with ten other stock exchanges in major Japanese cities to form a single Japanese Stock Exchange ( ja: ??????? < span>, Nippon Sh? ken Torihikisho ) . The combined exchange was closed and rearranged shortly after the Nagasaki bombing.
Postwar
The Tokyo Stock Exchange reopened under the Japanese name today on May 16, 1949, under the new Stock Exchange Act.
The 1983-1990 TSE runup was unprecedented, in 1990 it accounted for over 60% of the world stock market capitalization (by far the largest in the world) before falling drastically in the value and ranking of one of the 4th largest exchanges in the world with market capitalization of the listed shares.
The TSE building is currently open on May 23, 1988, replacing the original TSE building from 1931, and the TSE trading floor closed on 30 April 1999, so the exchange could switch to electronic commerce for all transactions. The new facility, called TSE Arrows ( ja: ?????? , T? Sh? Arrow ) , opened on May 9, 2000. In 2010, TSE launched the Arrowhead trading facility.
In 2001, TSE restructured itself as a stock company: before this time, it was composed as an incorporated association ( ja: ???? , shadan hin jin ) with its members as shareholders.
Technology issues
The exchange was only able to operate for 90 minutes on November 1, 2005, due to a bug with a newly installed transaction system, developed by Fujitsu, which should help overcome a higher trading volume. Interruption in trade is the worst in exchange history. Trading suspended for four and a half hours.
During the initial public offering of Dentsu advertising giant, in December 2001, a trader at UBS Warburg, a Swiss investment bank, sent an order to sell 610,000 shares in this company for ¥ 1 each, while he intends to sell 1 share in Ã, Â ¥ 610,000. The bank lost Ã, Â £ 71 million.
As long as there is no initial public offering, from J-Com, on December 8, 2005, an employee at Mizuho Securities Co., Ltd. mistakenly typed orders to sell 600,000 shares on  ¥ 1, not an order to sell 1 part. at ¥ 600,000. Mizuho failed to catch the error; The Tokyo Stock Exchange initially blocked attempts to cancel orders, resulting in a net loss of US $ 347 million to be distributed between the exchange and Mizuho. Both companies are now trying to address their problems: lack of error checking, lack of protection, lack of reliability, lack of transparency, lack of testing, loss of trust, and loss of profits. On December 11, the TSE admitted that the system was wrong in the Mizuho trade. On December 21st, Takuo Tsurushima, TSE chief executive, and two other senior executives resigned over Mizuho's infidelity.
On Jan. 17, 2006, the Nikkei 225 fell 2.8%, its fastest decline in nine months, as investors sold shares across the board amid a raid by prosecutors at the livedoor internet company. The Tokyo Stock Exchange closed earlier on Jan. 18 as trading volumes threatened to exceed the capacity of the stock exchange computer system by 4.5 million trades per day. This is called "life shock". The exchange quickly increased its order capacity to five million trades a day.
Clock
The normal trading session of the stock exchange is from 9:00 to 19:30 and from 12:30 noon. at 3:00 pm on all days of the week except Saturdays, Sundays and public holidays announced by the previous Exchange. The exchange is closed for the following holidays: New Year's Day, Arrival Day, National Foundation Day, Vernal Equinox Day, Sh Days? Wa, Constitution Memorial Day, Green Day, Children's Day, Maritime Day, Respect for the Advanced Day, Equinox Autumn, Health and Sports Day, Culture Day, Labor Thanksgiving Day, and Emperor's Birthday.
First, Second, and More
Company shares are listed and traded on the Tokyo Stock Exchange in sections: First Section which began when the Tokyo Stock Exchange was re-established in 1949 and included large companies; Part Two beginning in 1961 and including mainly middle companies; JASDAQ (incorporated in 1991, acquired by the Osaka Stock Exchange in 2010, and absorbed into TSE in 2013) and Mother (Stock market that grows and grows high, deep Japanese: ????, founded in TSE in 1999) both for emerging companies; and TOKYO PRO Market (in Japanese: TOKYO PRO Market) which was established in 2009 together with the London Stock Exchange as AIM.
There are a total of 3,607 companies listed on the Tokyo Stock Exchange, as of March 31, 2018.
There are also active bond markets and futures markets.
Alliance
London Stock Exchange (LSE) and TSE are developing jointly traded products and technology sharing, marking the latest cross-border deal between the bourses as international competition heats up.
In July 2008, the London Stock Exchange (LSE) and TSE announced a new Tokyo-based joint venture market, which will be based on the Alternative Investment Market LSE (AIM).
See also
- List of East Asian stock exchanges
- List of stock exchanges
- Nikkei 225
- TOPIX
References
External links
- The Tokyo Stock Exchange Site
- "Tokyo Exchange with the Struggle in Electronic", The New York Times , December 13, 2005
- "Fujitsu executives took pay cuts after Tokyo exchange accident", The Register, November 25, 2005
- Tokyo Stock Exchange Building
Source of the article : Wikipedia
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