TWOSTONE&Sons <7352> announced on the 18th that they have confirmed compliance with all listing maintenance criteria for the Growth Market received from the Tokyo Stock Exchange.
As of the transition reference date (June 30, 2021), the company had only not met the 'free-floating ratio' criteria of the Growth Market listing maintenance criteria. On December 24, 2021, they disclosed the 'Plan for Compliance with the Listing Maintenance Criteria for the New Listing Category,' declaring their ability to meet all compliance criteria by the specified deadline of March 31, 2024. By February 29, 2024, the company's estimated free-floating ratio was 28.1%, and it was announced that they were expected to meet all compliance criteria by August 31, 2024, as confirmed by the Tokyo Stock Exchange.
The company implemented measures to gradually improve the free-floating ratio by conducting stock splits twice in the August 2022 fiscal period and once in the August 2024 fiscal period. They also strengthened their IR activities by holding quarterly earnings conferences, disclosing earnings conference videos and transcripts, and engaging in proactive information dissemination. Furthermore, they worked on improving liquidity ratios by implementing the sale of shares by corporate shareholders, as well as planned sales of shares by the CEO, Yasushi Kawabata, and the COO, Katsumi Takahara.
