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INTERVIEW: Foreign Investors Want More English Info from TSE Firms

INTERVIEW: Foreign Investors Want More English Info from TSE Firms

   Tokyo, Feb. 6 (Jiji Press)--Foreign investors are seeking more English-language disclosure from companies listed on the Tokyo Stock Exchange, to narrow the information gap between them and Japanese investors, officials of an investor event coverage and translation service firm have said.
   In a recent interview with Jiji Press, Erik Abbott, CEO of Scripts Asia K.K., a Japan Exchange Group Inc. affiliate, and its President Junichi Hongo said that efforts to deliver English information are especially important given the unique nature of Japanese investor events.
   The strong demand for resolving the information asymmetry led to the TSE making a proposal last month to oblige some 1,600 firms listed on its top-tier Prime section to release earnings reports and other key information subject to timely disclosure in Japanese and English at the same time. The exchange is slated to unveil an outline of simultaneous disclosure rules late this month.
   Foreign investors account for about 70 pct of stock trading on the Prime section in terms of value. The April 2022 realignment of the exchange's four sections into the Prime and two other sections was aimed at attracting more investors from abroad.
   Abbott said that demand for timely and high-quality English coverage of earnings briefings and other events is growing significantly, and that users of Scripts Asia's service are seeking such information from a larger number of Japanese companies.

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