www.jpx.co.jp/equities/listing/delisting/details/02.html

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合併等による実質的存続性喪失に係る上場廃止基準 | 上場廃止基準の詳細 | 日本取引所グループ

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Apr 7, 2026, 01:34 PM

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https://www.jpx.co.jp/equities/listing/delisting/details/02.html

About this page

This page outlines the delisting standards for loss of substantial continuity due to mergers, established by Japan Exchange Group. It aims to prevent "backdoor listings" where unlisted companies avoid IPO reviews through mergers with listed companies. When the substantive surviving company is unlisted, delisting is standard practice. However, since 1999, a grace period of three years has been implemented. If the merged company meets IPO criteria during this period, listing is maintained; otherwise, it becomes a supervised stock and is eventually delisted.

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