www.jpx.co.jp/equities/products/reits/listing/03.html

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上場廃止基準 | 上場制度（REIT） | 日本取引所グループ

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https://www.jpx.co.jp/equities/products/reits/listing/03.html

About this page

This page outlines the delisting criteria for REITs (Real Estate Investment Trust certificates) established by Japan Exchange Group. Delisting occurs when liquidity and financial standards fall below specified thresholds. Key criteria include dissolution or bankruptcy of the investment corporation, loss of asset manager registration, real estate asset ratio falling below 70%, net assets under 500 million yen, and total assets below 2.5 billion yen. When delisting risk emerges, securities are designated as under-supervision securities. Upon delisting decision, they become adjustment securities with trading continuing for approximately one month.