[Last updated: 1 January 2024, unless otherwise noted]

Various fees apply to a foreign company's listing on the TSE, including:

• A listing examination fee, to be paid by the end of the month following the listing application filing, of ¥4 million (approximately US$28,400) for the Prime Market, ¥3 million (approximately US$21,300) for the Standard Market or ¥2 million (approximately US$14,200) for the Growth Market or a secondary listing.
• An initial listing fee, to be paid by the end of the month following the listing application filing, of ¥15 million (approximately US$106,500) (Prime Market), ¥8 million (approximately US$56,800) (Standard Market) or ¥1 million (approximately US$7,100) (Growth Market) for a primary listing or ¥2.5 million (approximately US$17,750) (plus an additional fee) for a secondary listing.
• If the TSE is the main market for the company's securities, the company must pay a public offering fee/additional listing fee by the end of the month following the listing application filing. The fee depends on the following formula:

   

  • For the public offering of newly issued shares at the time of listing

    0.0009 × the number of newly issued shares publicly offered × the offering price

     

  • For the public offering of previously issued shares at the time of listing

    0.0001 × the number of previously issued shares publicly offered × the offering price

     

• If the TSE is the main market for the company's securities, it must pay a TD-net user fee of ¥120,000 (approximately US$852).
• The company must pay an annual listing fee that varies depending on market capitalization. If the TSE Prime Market is the company's main market, this fee ranges from ¥960,000 (approximately US$6,816) to ¥4,560,000 (approximately US$32,376). If the company's main market is not the TSE Prime Market, this fee ranges from ¥120,000 (approximately US$852) to ¥840,000 (approximately US$5,964).