Japan’s Dual Listings Fall 31% in Seven Years as Minority Protection Takes Focus

In Japan, the number of subsidiaries with listed parent companies has declined 31% over seven years. On the issue of dual listings, Japan is placing more emphasis on strengthening protections for minority shareholders than on imposing a blanket ban. The exchange plans to finalize detailed rules next month and implement them in July. In Korea, financial authorities and the Korea Exchange are also moving quickly to prepare review standards under a policy of “prohibition in principle, exceptions allowed” for dual listings. Japan’s case shows that the key issue in dual-listing regulation is how to reinforce investor protections rather than relying only on outright bans. Source: mk.co.kr.