Japan startups snub Tokyo exchange for Nasdaq IPOs

Cautious investors and brokerages hamper new domestic listings

20230627N syla technologies IPO

Syla Technologies decided to list on the Nasdaq instead of the Tokyo Stock Exchange after struggling to drum up interest among Japanese investors. (Photo courtesy of Syla Technologies)

KENSUKE YUASA and TAKURO HOSODA, Nikkei staff writers

TOKYO -- Even as the Nikkei Stock Average reaches multidecade highs, some Japanese startups are looking overseas for their initial public offerings in search of investors more open to pushing the envelope.

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