New AIM for Tokyo

A new market for professional investors modelled on LondonÆs AIM is set to launch in Tokyo this spring following a rule change last year. In this co-published article, Japanese law firm Nagashima explains how it will work.

In order to strengthen the competitiveness of the Japanese financial and capital markets, the Financial Instruments and Exchange Act FIEA was amended in 2008. One of the main points of the amendment to the FIEA was to allow for the creation of a new market for professional investors. The amendment made it possible to establish new, relaxed exchanges, in which participants are limited to professional investors, referred to as Newly Created Professional Markets.

The Newly Created Professional Markets target...

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