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Tokyo should look beyond market cap for proposed prime market - panel

TOKYO, Dec 24 (Reuters) - A proposed overhaul of the Tokyo Stock Exchange could set a minimum market capitalisation requirement of 10 billion yen ($91 million) in free-floating stock for the bourse’s “prime market”, according to a draft proposal from a regulatory panel released on Tuesday.

Liquidity and governance, not just market capitalisation, should be important for listing on the “prime market”, the proposal from a panel of the regulatory Financial Services Agency (FSA) showed. ($1 = 109.3700 yen) (Reporting by Takaya Yamaguchi and Hideyuki Sano; Writing by David Dolan; Editing by Alison Williams)

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