Nintendo Co., Murata Manufacturing Co. and Nidec Corp. are among companies that will be switching their main market from Osaka to Tokyo from July 16 as the two bourses merge their cash-equities trading platforms, Japan Exchange Group Inc. said today.
The three stocks will automatically be moved to the Tokyo Stock Exchange’s first section, according to Japan Exchange spokeswoman Miwa Aonuma. Shares of Yahoo Japan Corp., Japan Exchange Group and JIN Co., which are among those listed on both Tokyo’s main market and Osaka’s JASDAQ exchange, will trade on the TSE’s first section, Japan Exchange Group said today in a statement.
The new bourse operator was formed this year from the merger of Tokyo Stock Exchange Group Inc. and Osaka Securities Exchange Co. There are 1,600 companies listed in Osaka, consisting of 1,099 solely listed in the city and 501 cross-listed stocks, according to the OSE. A total of 5.43 trillion yen ($54 billion) in shares was traded in Osaka in June, compared with 1.37 trillion yen the month before, according to data from the OSE.
Companies listed on both the TSE main market and Osaka’s JASDAQ must choose between the TSE main market and TSE JASDAQ, while shares cross-listed on the TSE Mothers and OSE JASDAQ can select either the TSE Mothers or TSE JASDAQ, according to a Japan Exchange statement on Jan. 30.