Update on Tokyo Stock Exchang

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 £7 million) into TOKYO AIM.  This will form 49 per cent of the Yen 2 billion (approximately £14 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 - Media	[phone]
	Paul Froud - Investor Relations	[phone]

 

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