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37-623: On November 4, 2015, Japan Post Holding ( TYO : 6178 ) was listed on the Tokyo Stock Exchange as part of a "triple IPO" ( initial public offering ) with shares offered as well in Japan Post Bank ( TYO : 7182 ) and Japan Post Insurance ( TYO : 7181 ). About 10% of the shares in each company were offered. In October 2021, the Japanese government abandoned its majority ownership of the company, while also still maintaining

74-467: A 8 percent stake in internet conglomerate Rakuten . Japan Post Holdings has been led by a President and CEO - both roles being held by the same executive - since the company's founding in 2006. The group operates via four main divisions: Privatization of the postal system in Japan was first considered in the 1980s under Prime Minister Nakasone , who, amid concerns about the government deficit , oversaw

111-402: A commission to examine privatization of the postal system's businesses and in 2002 a package of four bills was passed which established Japan Post as a public corporation. In the following year, he was reelected with a promise to privatize the postal system. In 2004, Koizumi's government announced an ambitious ten-year plan for splitting Japan Post into several privatized entities by 2017. In 2005,

148-417: A framework for a preparation phase, a ten-year transition phase that was revised to start on October 1, 2007, and a post-privatization phase to organize the companies into their final forms. A Cabinet-level Postal Privatization Headquarters would be established to develop and implementation plan to manage privatization and divide the resources of Japan Post between the successor companies. Japan Post Holdings

185-472: A second connection after it had already connected. Even though brokerages have access to alternative gateways, the outage caused "delays in execution, correction and cancellation" for many securities firms including Daiwa Securities and Nomura. On October 1, 2020, for the first time in its history as an all electronic exchange, the Tokyo Stock Exchange had to suspend trading in all shares for

222-490: A trader at UBS Warburg , the Swiss investment bank, sold 610,000 shares in this company at ¥6 each, while he intended to sell 16 shares at ¥600,000. The bank lost £71 million. During yet another initial public offering, that of J-Com, on December 8, 2005, an employee at Mizuho Securities Co., Ltd. mistakenly typed an order to sell 600,000 shares at ¥1 each, instead of an order to sell 1 share at ¥600,000. Mizuho failed to catch

259-481: A whole day due to a technical glitch, causing buying and selling to freeze. This was announced just minutes before 9 a.m., when it was scheduled to open. The problem was found to be in "the system for relaying market information", hence making the glitch a network problem, but the Asahi Shimbun reported that the glitch was due to a mechanical failure. The issue stemmed back to the "Arrowhead" trading system and

296-460: A ¥40bn ($ 360m) loss for its first full financial year as a listed company , due to losses from Toll Group , which it controversially acquired in 2015. In September 2017, the Japanese government announced its sale of $ 12 billion worth of Japan Post Holdings Co. Ltd. stock. It was the first sale since the 2015 IPO of the postal company and its two units, Japan Post Bank Co. Ltd. and Japan Post Insurance Co. Ltd.. That sale also raised $ 12 billion, which

333-536: Is a stock exchange located in Tokyo , Japan . The exchange is owned by Japan Exchange Group (JPX), a holding company that it also lists ( TYO : 8697 ), and operated by Tokyo Stock Exchange, Inc., a wholly owned subsidiary of JPX. JPX was formed from merger of Tokyo Stock Exchange Group, Inc. with Osaka Securities Exchange Co., Ltd. (now Osaka Exchange, Inc. ); the merger process began in July 2012, when said merger

370-602: The First Section which started when Tokyo Stock Exchange was re-established in 1949 and includes mainly large companies; the Second Section which started in 1961 and includes mainly mid-sized companies; JASDAQ (established in 1991, acquired by Osaka Stock Exchange in 2010, and absorbed into TSE in 2013) and Mothers (Market of the high-growth and emerging stocks, established at TSE in 1999) which are both for emerging companies; and TOKYO PRO Market which

407-741: The stock market of TSE are the Nikkei 225 index of companies selected by the Nihon Keizai Shimbun (Japan's largest business newspaper), the TOPIX index based on the share prices of Prime companies, and the J30 index of large industrial companies maintained by Japan's major broadsheet newspapers. There are also active bond market and futures market . Ninety-four domestic and 10 foreign securities companies participate in TSE trading. See: Members of

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444-600: The Growth subsection were transitioned into the Growth market, along with all 424 companies in the Mothers section. There were a total of 3,899 companies listed in Tokyo Stock Exchange, as of 21 August 2023. The Tokyo Stock Exchange was established on May 15, 1878, as the Tokyo Kabushiki Torihikijo ( 東京株式取引所 , also literally means the Tokyo Stock Exchange and shortened as Tōkabu ( 東株 ) ) under

481-577: The TSE paid $ 303 million to acquire a 4.99% stake in Singapore Exchange Ltd. The London Stock Exchange (LSE) and the TSE are developing jointly traded products and share technology, marking the latest cross-border deal among bourses as international competition heats up. In July 2008, the LSE and the TSE announced a new joint venture Tokyo-based market, which will be based on the LSE's Alternative Investment Market (AIM). The exchange

518-792: The Tokyo Stock Exchange The exchange's press club, called the Kabuto Club ( 兜倶楽部 , Kabuto kurabu ) , meets on the third floor of the TSE building. Most Kabuto Club members are affiliated with the Nihon Keizai Shimbun , Kyodo News , Jiji Press , or business television broadcasters such as Bloomberg LP and CNBC . The Kabuto Club is generally busiest during April and May, when public companies release their annual accounts. The exchange's normal trading sessions are from 9:00 a.m. to 11:30 a.m. and from 12:30 p.m. to 3:00 p.m. on all days of

555-413: The close on January 18 due to the trade volume threatening to exceed the exchange's computer system's capacity of 4.5 million trades per day. This was called the "livedoor shock". The exchange quickly increased its order capacity to five million trades a day. On October 9, 2018, one of the four gateways used for order entry was taken down after Merrill Lynch Japan Securities erroneously tried to establish

592-506: The direction of then- Finance Minister Ōkuma Shigenobu and capitalist advocate Shibusawa Eiichi . Trading began on June 1, 1878. In 1943, the exchange was combined with eleven other stock exchanges in major Japanese cities to form a single Japanese Stock Exchange ( 日本証券取引所 , Nippon Shōken Torihikisho ) . The combined exchange was shut down on August 1, days before the bombing of Hiroshima . The Tokyo Stock Exchange reopened under its current Japanese name on May 16, 1949, pursuant to

629-429: The error; the Tokyo Stock Exchange initially blocked attempts to cancel the order, resulting in a net loss of US$ 347 million to be shared between the exchange and Mizuho. Both companies are now trying to deal with their troubles: lack of error checking, lack of safeguards, lack of reliability, lack of transparency, lack of testing, loss of confidence, and loss of profits. On 11 December, the TSE acknowledged that its system

666-568: The fiscal year which ended in March 2021. On October 6, 2021, the final stage of a difficult privatisation process which had begun in 2005 was completed after with the sale of a $ 9 billion tranche of shares. This accounted for up to $ 1.03 billion of its shares in the business. However, the Japanese government still holds the largest share of stock in the company. Tokyo Stock Exchange The Tokyo Stock Exchange ( 東京証券取引所 , Tōkyō Shōken Torihikijo ) , abbreviated as Tosho ( 東証 ) or TSE/TYO ,

703-411: The government to maintain indefinite control over Japan Post Holdings by stipulating a minimum of one-third shares to be owned by the government and removing targets for shares sold in the banking and insurance services units. In late 2012, incoming Prime Minister Shinzo Abe reemphasized progress towards privatization as part of his Abenomics plan for economic reform and growth. It was also hoped that

740-506: The inability to fail over to backup hardware. Other stock markets in Japan, including regional exchanges in Nagoya, Fukuoka and Sapporo, also suspended trading because they used the same technology platform as the TSE. Meanwhile, derivatives on the OSE continued trading, with Nikkei futures ending the day 0.56% higher. Japan Exchange Group Inc., which operates the Tokyo Stock Exchange, said that

777-551: The most stock. Japan Post Holdings is also a constituent of the Nikkei 225 and TOPIX Large70 indices. The company was founded on 23 January 2006, although it was not until October 2007 that it took over the functions of Japan Post . There were plans to fully privatize the company, but were subsequently put on hold. As of 2013, it ranked thirteenth in the Fortune Global 500 list of the world's largest companies. On April 25, 2017, Japan Post Holdings said it would have

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814-433: The new Securities Exchange Act. The TSE runup from 1983 to 1990 was unprecedented, in 1990 it accounted for over 60% of the world's stock market capitalization (by far the world's largest) before falling precipitously in value and rank one of the 4th largest exchange in the world by market capitalization of listed shares. The current TSE building was opened on May 23, 1988, replacing the original TSE building from 1931, and

851-516: The original plan. At the end of 2019, the government had a 57% ownership stake in Japan Post Holdings, which still owns 90% of Japan Post Bank and Japan Post Insurance. In April 2021, Japan Post Holdings agreed to sell part of its unprofitable Australian logistics company Toll Holdings for only 7.8 million Australian dollars. The offer was accepted despite the fact that Toll Holdings had lost 67.4 billion yen, or roughly $ 624 million, for

888-476: The postal system. Benefits of privatization that were touted by supporters included efficiency of the financial sector, reducing political influence in the use of postal savings, and reducing bureaucratic mismanagement of funds. Detractors, including the postal lobby were concerned that privatization would shrink the universal availability of postal services in Japan, losing to job losses and the closing of rural post offices. Prime Minister Koizumi quickly established

925-698: The privatization of three major public corporations: the Japanese National Railways , Nippon Telegraph and Telephone (NTT) , and Japan Tobacco . These discussions did not proceed, and in 1997 the issue of privatizing Japan Post Bank specifically was raised again under Prime Minister Hashimoto . This time, opposition from within the ruling and opposition parties resulted only in reforms aimed at improving financial discipline that fell short of actual privatization. In 2001, during an economic downturn in Japan, LDP politician Junichiro Koizumi took office with significant public support to privatize

962-489: The resulting package of six privatization bills was defeated in the upper house of the Japanese Diet , and Koizumi called a snap election focused on postal privatization. He won the election in a landslide, receiving a public mandate for his privatization plans and defeating members of his own party who were opposed. The privatization package passed a few weeks later. The Postal Privatization Law passed in 2005 laid out

999-640: The results were published on January 11, 2022. From the First Section, 1841 companies were transitioned into the Prime market and 344 companies were transitioned into the Standard market. All 474 companies in the Second Section were also transitioned into the Standard market. From JASDAQ , all 658 companies in its Standard subsection were transitioned into the Standard market and all 36 companies in

1036-566: The sale of shares could raise funds for rebuilding after the Great East Japan Earthquake . One result was the expediting of the IPO process for Japan Post companies. In 2015, a triple IPO was conducted where Japan Post Holdings, Japan Post Bank and Japan Post Insurance each had about 10% of their shares offered for sale in the Tokyo Stock Exchange for the first time. Privatization is ongoing slowly, having already fallen short of

1073-481: The sale were to be used to reduce government debt. The plan for privatization did not proceed smoothly, and after having been subject to a variety of external factors that still continues to this day. In 2009, the Democratic Party of Japan took power and halted the initial public offering for Japan Post companies. In 2012, the administration went further in blunting some aspects of privatization, allowing

1110-526: The trading floor of the TSE was closed on April 30, 1999, so that the exchange could switch to electronic trading for all transactions. A new facility, called TSE Arrows ( 東証アローズ , Tōshō Arrows ) , opened on May 9, 2000. In 2010, the TSE launched its Arrowhead trading facility. In 2001, the TSE restructured itself as a kabushiki gaisha ("stock company"): before this time, it was structured as an incorporated association ( 社団法人 , shadan hōjin ) with its members as shareholders. On 15 June 2007,

1147-684: The week except Saturdays, Sundays and holidays declared by the Exchange in advance. The exchange is closed for the following holidays: New Year's Day , Coming of Age Day , National Foundation Day , Vernal Equinox Day , Shōwa Day , Constitution Memorial Day , Greenery Day , Children's Day , Marine Day , Respect for the Aged Day , Autumnal Equinox , Health and Sports Day , Culture Day , Labour Thanksgiving Day , and The Emperor's Birthday . Until April 4, 2022, corporate shares are listed and traded at Tokyo Stock Exchange in five market sections:

Japan Post Holdings - Misplaced Pages Continue

1184-532: Was approved by the Japan Fair Trade Commission . JPX itself was launched on January 1, 2013. The TSE is incorporated as a kabushiki gaisha ( joint-stock company ) with nine directors, four auditors and eight executive officers. Its headquarters are located at 2-1 Nihonbashi - Kabutochō , Chūō , Tokyo which is the largest financial district in Japan . The main indices tracking

1221-528: Was at fault in the Mizuho trade. On 21 December, Takuo Tsurushima, chief executive of the TSE, and two other senior executives resigned over the Mizuho affair. On January 17, 2006, the Nikkei 225 fell 2.8%, its fastest drop in nine months, as investors sold stocks across the board in the wake of a raid by prosecutors on internet company livedoor . The Tokyo Stock Exchange suspended trading 20 minutes before

1258-599: Was established in 2009 jointly with London Stock Exchange as an Alternative Investment Market (Tokyo AIM) for small companies. There were a total of 3,821 companies listed in Tokyo Stock Exchange, as of March 31, 2022. companies) (本則市場) Beginning April 4, 2022, the market divisions were restructured into the Prime , Standard and Growth market divisions, differentiated by market liquidity , corporate governance , and other criteria. Companies voluntarily selected their new division between September and December 2021, and

1295-491: Was only able to operate for 90 minutes on November 1, 2005, due to bugs with a newly installed transactions system, developed by Fujitsu , which was supposed to help cope with higher trading volumes. The interruption in trading was the worst in the history of the exchange until October 1, 2020. Trading was suspended for four-and-a-half hours. During the initial public offering of advertising giant Dentsu , in December 2001,

1332-404: Was to start as a state-owned holding company for Japan Post Bank , Japan Post Insurance , Japan Post Network , and Japan Post Service and gradually sell off its shares through 2017. The original plan was for the government to retain about a one-third ownership share of Japan Post Holdings, and for Japan Post Holdings to sell all its shares in its banking and insurance subsidiaries. Proceeds from

1369-596: Was used for the repair and reconstruction of places that were destroyed by an earthquake and tsunami in 2011. In December 2019, the heads of Japan Post Holdings announced that they will resign over the improper sales of insurance policies, after the regulator announced administrative punishments against the companies. The company said that Hiroya Masuda , a former minister of Internal Affairs and Communications, has been appointed as successor to current CEO Masatsugu Nagato. In March 2021, Japan Post Holdings announced that it would invest 150 billion yen or US$ 1.38 billion and take

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