IPO
For this article, we have applied the recently updated "Preparation Guidebook for Initial Public Offerings (IPOs)", published by the Japanese Institute of Certified Public Accountants (JICPA), to generate an IPO-grade corporate governance policy framework that startups need to complete before conducting an accounting audit. 1. The Strategic Mandate:
capital markets
The financial technology landscape within the Tokyo Stock Exchange (TSE) has undergone a profound structural metamorphosis until the end of 2025. Historically characterized by a rigid dichotomy between legacy banking institutions and a fragmented tier of systems integrators, the market has matured into a complex ecosystem of specialized verticals. This
capital markets
The Sapporo Securities Exchange (SSE) has officially released the regulatory framework for its upcoming professional-investor-focused equity market, tentatively titled the Sapporo PRO Frontier Market (SPFM). In a public consultation document, the exchange outlined a flexible listing structure designed to compete with the Tokyo Pro Market by lowering barriers for high-growth
IPO
In response to recent cases of accounting fraud involving companies going public, the Tokyo Stock Exchange (TSE) and Japan Exchange Regulation (JPX-R) are introducing a new set of measures. The primary goal of these new rules is to enhance the quality of the listing examination process and prevent similar fraudulent
IPO
FUNDINNO went public on the Tokyo Stock Exchange Growth Segment on December 5, 2025, at the top of the indicated range from JPY 600 to 620. After reaching a high of JPY 935 during the first day of trading, the stock has since settled in around the JPY 800 mark,
IPO
Infcurion debuted on the TSE’s Growth Segment on Friday, October 24, 2025. After bookbuilding resulted in a ¥1,680 reference price, above the indicated range up to ¥1,600, the stock’s first quote was ¥1,560, and the closing price ¥1,451, altogether an underwhelming debut. At the
credit card
Infcurion, which will go public on the Growth Segment of the Tokyo Stock Exchange on October 24, 2025, has started offering the latest version of its next-generation card platform "Xard (Exard)". This latest version adds integrated implementation of "member management," "funding source management," and
payments
The Tokyo Stock Exchange has approved the initial listing of Infcurion's shares on the Growth Market, with the listing date scheduled for Friday, October 24, 2025. Infcurion's listing application provides a detailed look into the company that positions itself not as a direct financial service provider,
Insurance
The FWD Group has published its interim results report for the six months ended June 30, 2025, its first since going public on the Hong Kong Exchange in July 2025, allowing for a look at its Japanese business. FWD entered the Japanese market in 2017 through the acquisition of AIG
payments
LY Corporation's revenue for the cumulative consolidated first quarter of the fiscal year ending March 31, 2026 amounted to 489.6 billion yen (up 5.7% year on year), representing the highest cumulative consolidated first quarter revenue to date. This was due to an increased revenue in the
cryptocurrency exchange
Coincheck Group has reported its first full fiscal year results, after listing on Nasdaq through a SPAC transaction at the end of last year. Before we get into the results announcement, however, let us take a look at where Coincheck fits into the overall Monex Group. Overview Monex Group has
venture capital
This Sushi Tech panel discussed the theme of "Rethinking Japan's Startup Ecosystem: Priorities for the Next Decade." Moderated by Akio Tanaka, Founding Partner of Headline Asia, the panel consisted of industry experts who offered their perspectives on the current state of Japan's startup landscape,