TOKYO, Oct. 17 (Xinhua) -- The Tokyo Stock Exchange (TSE) said on Tuesday that 177 companies will be moved down from its top Prime market to the Standard section for failing to meet the top market's requirements.
With the move scheduled for Friday, the number of Prime companies will fall to just over 1,600.
The TSE reorganized its segments in April last year into three, Prime, Standard and Growth, in a bid to attract more global investors.
Prime is intended for businesses that are internationally competitive and have high growth potential. Its relatively strict listing requirements include a market capitalization of at least 10 billion yen, or roughly 67 million U.S. dollars.
In addition to a large market cap, Prime companies are required to have high standards of corporate governance and commitments to growth. ■