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Green Sheet Market


 

The Green Sheet Market was started by the Japan Securities Dealers Association in July of 1997 to buy and sell stocks of corporations not yet open to the public. The purpose of this market is to smooth out the financing of such corporations, as well as securing a place for investors to cash-out their stocks. The Green Sheet Market is operated under a different status that the regular stock market, which is run under the Financial Instruments and exchange act regulations.

The Green Sheet
The Japan Securities Dealers Association prohibits securities companies to induce investments in stocks, convertible bonds and bonds with subscription warrants that aren't registered with the over-the-counter market or go on the market (hereafter, "not-yet-offered stocks , because corporations of not-yet-offered stocks have not disclosed enough information compared to those with publicly-held stock.

However, some of the corporations with not-yet-offered stock disclose their corporate information in accordance with the Financial Instruments and exchange act and certain other criteria established by the Japan Securities Dealers Association. Such not-yet-offered stock for which investors can obtain adequate corporate information are designated as marketable securities for over-the-counter trading, and securities companies can induce investment of those stocks, though only when they show the buying and selling atmosphere of the market. (Chisso Corporation's stocks are induced for investment at Mizuho Securities.) These over-the-counter market securities sold by securities companies offer the atmosphere of the market and induce investment, make up the "Green Sheet.

Entities on the Green Sheet are separated into Emerging, Ordinary, and Investment trust SPC market. Our stocks are registered on the Ordinary market.

Concept Chart of Green Sheet Market


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