Once the listing is done, a Japanese issuer takes on ongoing disclosure and compliance duties. A foreign private issuer (FPI) files an annual 20-F, furnishes 6-Ks as events occur, and must be audited by a PCAOB-registered firm.
Listed names like Medirom (MRM), PicoCELA (PCLA) and Lead Real Estate (LRE) are living through this maintenance phase. Fall below Nasdaq's continued-listing standards — price, market cap, shareholder count — and delisting becomes a real risk.
Designing the post-listing setup from the start — English-language IR, internal controls, board independence — is what keeps a company both listed and fairly valued. Our data pages track each issuer's status and vendor stack.
Data is provided for informational purposes only and does not constitute investment solicitation.