# Working Group Articles associés

Tokyo Stock Exchange Urges 270 Companies to Lower Entry for Retail Investors

On July 28th, the Tokyo Stock Exchange (TSE) urged 270 listed companies to consider conducting stock splits. This initiative aims to lower the high minimum investment cost, which was at least 500,000 yen (about $3,050) per lot of 100 shares as of late June, thereby making it easier for retail investors to participate. The TSE's call responds to investor demand for more affordable lots around 100,000 yen, as highlighted by the exchange in April. To further this goal, the TSE has established a working group focused on promoting small-lot investments, with meetings starting in October. Recent data shows progress: of the 276 companies that split their stocks in the 12 months to June 30, about 70% targeted post-split prices in the hundreds of thousands of yen. Before the splits, 45% of these companies had lots priced at 500,000 yen or more; after the splits, that figure dropped to just 2%. Overall, 762 companies have executed stock splits since the TSE's previous request in October 2022. Notable examples include Tokyo Electron and Organo, which plan significant splits effective October 1st.

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