Update on Tokyo Stock Exchange joint venture
May 14 2009 - 7:31AM
UK Regulatory
TIDMLSE TIDMLSEB
RNS Number : 2589S
London Stock Exchange Group PLC
14 May 2009
14 May 2009
Update on Tokyo Stock Exchange Joint Venture
Further to its announcement on 29 January 2009, the London Stock Exchange plc is
pleased to confirm that it has now signed a shareholders' agreement with Tokyo
Stock Exchange Group, Inc. ("TSE"), which formalises the funding and governance
of the joint venture company to develop TOKYO AIM, a new market for growing
companies in Japan and Asia.
TOKYO AIM, Inc. will be owned 51 per cent by TSE and 49 per cent by the London
Stock Exchange and will be incorporated and operated in Japan. The London Stock
Exchange will invest Yen 980 million in cash (approximately GBP7 million) into
TOKYO AIM. This will form 49 per cent of the Yen 2 billion (approximately
GBP14 million) gross assets of TOKYO AIM, which will fund the regulatory capital
and medium term trading requirements of the company.
TOKYO AIM will combine TSE's knowledge of the region and the London Stock
Exchange's growth market expertise, enabling it to offer the highly successful
AIM model to a wider range of Japan and Asia's growth companies. This will
provide these companies with access to a capital market specifically tailored
for their needs and to a wider investor base, while creating new investment
opportunities for Japanese and international professional investors.
It is envisaged that TOKYO AIM will commence its operation after receiving its
market operator's licence from the Japanese Financial Services Agency.
David Shrimpton will be Chairman of TOKYO AIM, and Tetsutaro Muraki will be
Chief Executive. Marcus Stuttard and Hiroki Kurihara will also be directors of
the company.
Further information is available from:
+------------------------+---------------------------+--------------------+
| London Stock Exchange | Catherine Mattison - | +44 (0) 20 7797 |
| | Media | 1222 |
+------------------------+---------------------------+--------------------+
| | Paul Froud - Investor | +44 (0) 20 7797 |
| | Relations | 3322 |
+------------------------+---------------------------+--------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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