Roles of Each Party Involved in an IPO | Overview of IPO | Japan Exchange Group

This page explains the roles of parties involved in IPOs on the Tokyo Stock Exchange. Lead underwriters, as TSE trading participants, are comprehensively involved in listing procedures and preparations. They provide underwriting services through lead underwriting agreements with issuers and offer advice on listing schedules. At listing, they submit a Sponsor's Letter of Recommendation to TSE. The page lists major lead managing securities companies including Nomura, Daiwa, Mizuho, and other prominent Japanese and international securities firms.