The most popular emerging market for unlisted companies today is the TSE Mothers.
This securities market, which emerged 20 years ago, has seen 65 new listings in 2019, with 315 companies listed at the end of the year.
A vibrant securities market, especially in emerging markets, makes it easier for money from venture capitalists and other funds to flow to unlisted venture companies as investment capital, and M&A is more active. This is because the expectation of high returns is high, whether through an IPO or M&A.
This book focuses on the Tokyo Stock Exchange Mothers, analyzing financial figures that speak objectively to the facts and explaining recent market trends.