Clifford Chance
TOKYO PRO-BOND
4 June 2015
The TOKYO PRO-BOND Market, established by TOKYO AIM (now Tokyo Stock Exchange) in May 2011, is a professional securities market for listing bonds offered into Japan. Instruments traded in this market are sold within the framework of a private placement, and only professional investors and certain non-residents of Japan are allowed to participate in the market, although they are listed instruments and a certain amount of disclosure is required.
In this Client Briefing, we discuss the framework as a whole, including certain updates and practical developments.
