Japan Exchange Group Inc IR Day 2019 Transcript

Jul 03, 2019 / NTS GMT
Koichiro Miyahara - Japan Exchange Group, Inc. - Executive Officer & Director

Hello, everyone. My name is Miyahara of the TSE. And today, I would like to talk about 2 -- 4 topics: Classification change, corporate governance, ETF market revitalization and data service strategies. These 4 points will be outlined in my presentation.

First of all, I would like to talk about the review of the cash market structure. In the fall of last year, we had experts group deliberations, which has continued until March of this year. And in parallel, 70 firms have been subject to hearing. From domestic and overseas, institutional investors have provided 90 comments as well on this topic.

Against this backdrop, we have organized our views. There are 3 challenges that we have identified, which are listed here. First point is that there is ambiguous market concept impairing convenience of investors and losing attractiveness. The TSE and OSE have integrated management, and the markets has remained in parallel. More specifically, there in the second section, Mothers and JASDAQ overlap are seem to be confusing.

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