Latest News:  
Beijing   Sunny/Overcast    9 / 1   City Forecast

People's Daily Online>>World

Tokyo, Osaka bourses to merge in 2013


17:09, November 22, 2011

TOKYO, Nov. 22 (Xinhua) -- Tokyo Stocks Exchange (TSE) Group Inc. and Osaka Securities Exchange (OSE) Co. said Tuesday they are going to merge in January 2013 to create the world's second- largest bourse in the world in a bid to increase competitiveness.

To make OSE a subsidiary, TSE will conduct a tender offer to buy the stakes of OSE for 480,000 yen per share by the first half of 2012 to control 66.6 percent of Osaka's shares, the upper limit while they can still keep the Osaka bourse listed.

TSE President Atsushi Saito will become the CEO of the new group, and OSE President Michio Yoneda will be the Chief Operation Officer (COO).

"Domestic mergers and cross-border mergers between exchanges have been gathering momentum overseas," the two bourses said in a statement.

"For a Japanese stock exchange to survive such global competition as a player, it must establish a highly liquid and efficient market and enhance the convenience of investors and companies through strengthening its competitiveness," the joint statement said.

TSE is Japan's largest bourses where most cash stocks are traded, while OSE owns Jasdaq, a Nasdaq-like second board where 50 percent of Japan's derivatives trading are conducted.

We Recommend


Leave your comment0 comments

  1. Name


Selections for you

  1. Japan's next-generation main fighters

  2. Eye catching modified car

  3. Reporting this 'chameleon city'

  4. Volvo vehicles to be made in China

Most Popular


  1. Return to reason for real estate
  2. A reality check for Washington
  3. Improving education quality in rural areas
  4. Further healthcare reform
  5. Cyber cooperation needed
  6. Asia has no time for games with US
  7. Japanese drills should raise red flags for China
  8. Money culture pulls well-off teens into sex trade
  9. US scaremongering
  10. Asians no longer go under the knife to look 'white'

What's happening in China

Putting more emphasis on imports

  1. Wild Siberian tiger found in Heilongjiang
  2. Beijing strives to promote aviation sector
  3. China to establish climate change think tank
  4. Suit claims oil spill harmed fishermen
  5. Charity to publish 1st annual report

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival