As part of an effort to streamline markets and attract more investors, the Tokyo Stock Exchange may demote about a third of its largest listed companies and cut down the bourses it operates to three from four, according to media reports.
A TSE advisory panel is expected to compile a report by the end of March after examining public comments on structural reforms for the $5.7 trillion equity market. The reported changes would demote hundreds of companies from the TSE's first section, investors say.
The exchange included 2,137 companies as of Friday, double the number in 1990, according to the exchange's parent, Japan Exchange Group Inc.
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