The New York Stock Exchange is actively engaged with a pipeline of Japanese companies, some of which may consider a US listing over the next 18 months, according to the bourse’s vice chairman.
Some of these companies are in the technology and health care sectors, vice chairman John Tuttle said in an interview in Tokyo. They are at different stages of growth, and some are “quite sizable” and expanding quickly, he said, without providing further details.
Global funds have turned optimistic on Japanese stocks over the past year, on expectation shareholder returns will improve. A weaker yen also helped boost exporter shares, though that has shaved off US dollar-based returns. Even with the booming market, Japanese startups have been turning to the US where institutional investors are more willing to bet on innovative technologies.
While Japan’s local markets can meet companies’ needs for capital, the US is attracting “those companies that want access to the broadest pool of institutional investors, those that want that US-dollar denominated share currency,” he said.
It’s not just Japanese companies looking to list in the US, Tuttle said. There are “exciting companies” from South Korea, Indonesia and Singapore from across various sectors, he said.
New chief executive Rich Steinmeier replaced Dan Arnold on October 1.
The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.
Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.
New survey finds varied levels of loyalty to advisors by generation.
Busy day for results, key data give markets concerns.
A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.
Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.
