Markets

Tokyo Metro to Go Public as Early as Oct.

Yomiuri Shimbun file photo
Signs of Tokyo Metro

Jiji Press

9:53 JST, August 20, 2024

Tokyo (Jiji Press)—Shareholders of Tokyo Metro Co. are considering taking the subway operator public on the Tokyo Stock Exchange as early as October, people familiar with the matter said Monday.

Tokyo Metro is 53.4 pct owned by the Japanese government and the remaining 46.6 pct by the Tokyo metropolitan government.

The central and metropolitan governments plan to sell their shares in Tokyo Metro at the same time and in the same proportion to reduce their combined stake to 50 pct.

The central government is obliged under law to use its proceeds from the sale of Tokyo Metro shares to help finance the redemption of bonds issued to fund reconstruction from the March 2011 earthquake and tsunami.