As a SRO established under the Financial Instruments and Exchange Act, JSDA
extensively regulates market intermediaries aiming at protecting investors and ensuring integrity and efficiency of the market.
The OSE aims to purchase more than two-thirds of outstanding Jasdaq shares from the JSDA
and other shareholders, sources familiar with the matter said earlier.
Last October, the JSDA
has fined BNP Paribas JPY100m for covering up key information relating to the Urban transaction.
The operator of the Osaka Securities Exchange is now in final talks with the JSDA
to set the corporate value of Jasdaq at around 7 billion yen, they said.
has argued that the Jasdaq Securities Exchange is worth more than 10 billion yen as its corporate value should be computed by adding the brand's value to its net assets.
If the price-setting procedure (for Jasdaq shares) goes smoothly, I think it could finish around that time at the earliest,'' JSDA
Chairman Toshio Ando said at a news conference.
is adopting computer-based delivery to realize greater test integrity and security, on-demand test scheduling and registration, immediate results and more streamlined testing and licensing administration.
In the face of sluggish trading on Japanese bourses for start-up companies, the JSDA
has been considering selling part or all of its Jasdaq shares to seek a realignment of the exchange sector.
It plans to start uploading financial information of companies registered with JSDA
from June and companies listed on other stock exchanges from October.
decides to allow OSE to own controlling stake in Jasdaq
will hold an ad hoc committee Monday, as scheduled, and is expected to decide to sell a stake of at least 50 percent in Jasdaq to the OSE operator.
, which holds a 70 percent stake in Jasdaq, Japan's largest bourse for emerging companies, said it will continue talks with the Osaka bourse operator about the deal.