Toppan Printing Announces New Listings and Trading Operations for Flier Inc.
Tokyo, Japan – July 24, 2025 – Japan Exchange Group (JPX) today released an important announcement regarding the initial trading operations for Flier Inc. (stock code pending), a company set to make its debut on the Tokyo Stock Exchange. The announcement, published at 06:45 JST, specifically details the “Kihai Operations Before the Determination of the Opening Price on the Second Day of New Listing” for Flier Inc.
This update signifies a crucial phase in the company’s journey as a publicly traded entity. The “Kihai Operation” refers to the market mechanism employed by the Tokyo Stock Exchange to manage trading during the initial period after a new listing, particularly before the definitive opening price for the second day of trading is established. This system is designed to ensure orderly price discovery and to prevent excessive volatility during the early stages of a stock’s trading life.
Understanding Kihai Operations:
For newly listed companies, the first day of trading often involves a period where the exchange uses a “kotei” or “matching” price mechanism. This aims to establish a fair initial price based on buy and sell orders. However, for the second day, the exchange may implement a “Kihai Operation” if there is a significant imbalance between buy and sell orders, or if the trading volume is expected to be particularly high.
Under Kihai Operations, the exchange will display a “Kihai” or “indicating” price. This price is not a firm trading price but rather a reference point that reflects the current supply and demand dynamics. Trading will occur within a predetermined price band around this indicating price, with the goal of allowing the market to gradually converge towards a stable opening price. This approach helps to manage liquidity and reduce the risk of drastic price swings that can sometimes occur with newly listed stocks.
Significance for Flier Inc.:
The announcement by JPX indicates that Flier Inc.’s listing is proceeding as planned, and the exchange is proactively preparing for the smooth execution of its trading. While the specific details of the price band and other operational parameters for Flier Inc. are not elaborated in this particular announcement, the inclusion of Flier Inc. in this pre-scheduled operational framework underscores the meticulous planning involved in new listings.
This announcement will be of keen interest to investors, market participants, and anyone following the Japanese equity markets. It signals the imminent commencement of active trading for Flier Inc., allowing for greater investor participation and contributing to the vibrancy of the Japanese capital markets.
Japan Exchange Group remains committed to fostering efficient and transparent trading environments for all listed companies. Further updates on Flier Inc.’s trading performance will be closely monitored by the financial community.
[東証]新規上場（２日目）の初値決定前の気配運用について：フラー（株）
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日本取引所グループ published ‘[東証]新規上場（２日目）の初値決定前の気配運用について：フラー（株）’ at 2025-07-24 06:45. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.