September 1, 2008
TSE Urges Listed Firms to Ensure Full Disclosure
Tokyo, Sept. 1 (Jiji Press)--The Tokyo Stock Exchange urged all listed companies Monday to disclose in full information that may affect investor decisions, a step prompted by the lack of such information from failed real estate developer Urban Corp. .
Urban in late June announced plans to issue 30 billion yen's worth of new shares to French financial giant BNP Paribas, but it did not give any follow-up information until it filed for bankruptcy in Aug. 13.
The TSE said in its written request to listed firms that the exchange regrets the incident because investors were led to make misjudgments.END
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