Listing support &
PRO Market（TOKYO／Fukuoka）
Listing Support
Service Overview
Listing a company’s shares on an exchange and becoming a publicly traded company means fulfilling certain social responsibilities to stakeholders while also becoming a member of the economic society that shares those same responsibilities.
At our company,
We share the values of companies actively committed to fulfilling their social responsibilities and will strive to achieve their objectives.
Process leading up to listing
Services Offered
Short-term Survey
We will assess accounting procedures, the establishment and operation of internal controls, and management oversight to identify issues that must be resolved prior to listing.
Checkpoint
- Verify that appropriate accounting policies are being applied correctly.
- Confirm whether there were any material errors in prior-year accounting treatments.
- Confirm that corporate bodies such as the board of directors are functioning appropriately.
Accounting Audit
Conducting an accounting audit during the listing preparation process confirms that no new obstacles to listing have arisen while also verifying the progress of listing preparations. For the Main Market and Emerging Market, accounting audits will be conducted to provide audit certification for the period immediately preceding the listing and the preceding fiscal period. For the PRO Market (TOKYO/Fukuoka), audit certification is required only for the period immediately preceding the listing.
About PRO Market (TOKYO/Fukuoka)Capital Policy Development
Capital policy refers to plans concerning shareholder composition and fundraising. Specifically, it denotes a roadmap outlining when, to whom, at what price, and by what method to conduct share transfers, capital increases, and similar actions.
Checkpoint
- Confirm whether the gap between the low stock price during the pre-IPO stage and the high stock price after the IPO is being effectively leveraged.
- Confirm that sufficient consideration has been given to the founder’s shareholding ratio after the public offering.
- Verify that the procurement amount and its intended use are consistent with the management plan.
Restructuring of Affiliated Companies
Public companies have a duty to utilize investor funds clearly and effectively and to return profits to investors. Therefore, if there are affiliated companies that could potentially harm investor interests, these relationships must be resolved.
Checkpoint
- Whether the existence of affiliated companies is reasonable.
- Confirm whether there are any issues with the performance or financial condition of affiliated companies.
- Verify that transactions with affiliated companies are appropriate.
- Whether any officers or similar personnel have engaged in profit-seeking activities using affiliated companies.
- Confirm whether there are any issues with the investment relationships with affiliated companies.
Establishment of Management
Systems
Public companies have an obligation to disclose important matters, including financial results, in a timely manner. They are also required to establish and operate internal controls over financial reporting. Therefore, it is essential to establish an effective and efficient management system that enables timely disclosure.
Checkpoint
- Whether the basic regulations are properly established and implemented.
- Whether settlement operations are being performed in a timely manner.
- Whether internal controls over financial reporting are in place.
- Whether budget management is being conducted appropriately.
PRO Market
（TOKYO／Fukuoka）
Service Overview
Listing is possible under a more flexible set of standards and disclosure requirements.
The TOKYO PRO Market operated by the Tokyo Stock Exchange and the Fukuoka PRO Market operated by the Fukuoka Stock Exchange are designed with more flexible listing criteria compared to other markets. For example, they do not have numerical requirements regarding the number of shareholders or profits. Furthermore, since only one period of audit certification is required and quarterly disclosures and submission of internal control reports are optional, the burden of preparing for listing is partially reduced.
Comparison with other markets
Comprehensive support from a team of specialists
TOKYO PRO Market requires a contract with a certified “J-Adviser” (or “F-Adviser” for Fukuoka PRO Market), ensuring a robust support environment.
Our firm collaborates with experienced J-Advisers to provide financial consulting and high-quality accounting audits.
TOKYO PRO Market Information
We provide audit topics related to the TOKYO PRO Market.