Japan's Unlisted Companies Boosted by Smartround Securities Platform

Japan's Financial Services Agency has registered Smartround Securities as a brokerage for trading unlisted company shares, which could enhance capital access for startups. Investors currently rely mostly on IPOs or acquisitions to cash out. The platform aims to improve corporate governance and attract investment in Japan's private market. Enhanced transparency and better disclosure for unlisted companies are expected, potentially leading to a more prepared IPO pipeline in Japan's market.