Tokyo bourse overhaul spurs prime market push for Japanese cos

Tokyo bourse overhaul spurs prime market push for Japanese cos

Mount Fuji and buildings in the Shinjuku district are reflected on a table at an observation deck in Tokyo, Japan. Photographer: Kiyoshi Ota/Bloomberg

Tighter requirements to stay on the Tokyo bourse’s prestigious main board are forcing Japanese companies to cease long criticised practices such as cash-hoarding and cross shareholdings, even as some investors call for tougher reform.