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30% of Tokyo top-tier stocks fail test for new big board

Second chance offered as Japan's leading stock market prepares for 2022 revamp

The entrance to the Tokyo Stock Exchange. (Photo by Toshiki Sasazu)

TOKYO -- Nearly a third of companies on Japan's most prestigious stock market now fall short of the requirements for staying in the top tier after a planned reorganization.

Aiming to attract more foreign investment by bringing Japanese companies closer in line to global governance and market standards, the Tokyo Stock Exchange will split into prime, standard and growth sections next April.

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