The New York Stock Exchange is actively engaged with a pipeline of Japanese companies, some of which may consider a U.S. 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 dollar-based returns. Even with the booming market, Japanese startups have been turning to the United States where institutional investors are more willing to bet on innovative technologies.
While Japan¡¯s local markets can meet companies¡¯ needs for capital, the U.S. is attracting ¡°those companies that want access to the broadest pool of institutional investors, those that want that U.S.-dollar denominated share currency,¡± he said.
It¡¯s not just Japanese companies looking to list in the U.S., Tuttle said. There are ¡°exciting companies¡± from South Korea, Indonesia and Singapore from across various sectors, he said.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.