Phl stocks attract interest in Tokyo roadshow

MANILA, Philippines - More Japanese firms are showing strong interest in Philippine stocks, the operator of the country’s sole stock market reported.

The Philippine Stock Exchange (PSE) said it saw more participation from Japanese firms during this year’s roadshow in Tokyo compared with that of 2014.

“We understand that when we sent out the invitation to participants in December last year, the event became fully booked within three hours. We are delighted by the strong interest by Japanese investors in our market and we thank our partners for helping us promote more businesses and investments between Japan and the Philippines,” said PSE president and chief executive officer Hans B. Sicat.

The Tokyo roadshow in the Land of the Rising Sun held last January 21 to 23 featured a Philippine Corporate Day which was co-organized with DBP-Daiwa Capital Markets Philippines Inc. and a Philippine Business Environment Seminar. This was in partnership with KPMG Japan, Mori Hamada and Matsumoto Law, and Takara Printing Co. Ltd.

The roadshow was aimed at courting Japanese firms to list in the local bourse by serving as a venue to discuss the listing structure and rules of the PSE.

The PSE said the roadshow this year registered a 37 percent increase in investor turnout and a 58 percent growth in the number of fund houses present compared to last year.

Furthermore, the PSE reported a 32 percent increase in meetings between the listed companies and major Japanese investors.

“We are pleased with how the Corporate Day was received by Japanese investors. We are glad that we had the opportunity to explain to them the prospects of our local market and that the participating listed firms had the chance to discuss the nature and growth outlook of their respective companies,” Sicat said.