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What is a J-Nomad?
A J-Nomad (‘Japanese Nominated Adviser’) is a corporate finance adviser approved by TOKYO AIM. J-Nomads are appointed by companies wishing to list on TOKYO AIM.
Responsibilities of a J-Nomad at admission
The J-Nomad is responsible for assessing the suitability of the company to list on TOKYO AIM by confirming that it meets all requirements pursuant to the Regulations and Enforcement Rules for Companies. In so doing, the J-Nomad’s role includes:
- Gaining a thorough understanding of the company’s business and its ongoing plans once on the market
- Confirming the suitability of the company’s directors and the efficacy of the company board as a whole
- Undertaking financial, legal and commercial due diligence, involving lawyers, accountants and other external experts, as appropriate
- Ensuring the company has sufficient systems and procedures in place that will ensure compliance with the rules on an ongoing basis
As a result, the J-Nomad will be actively involved in the preparation of admission documents and in advising the applicant on how to best comply with its continuing obligations. Once satisfied, the J-Nomad must prepare a Declaration of Appropriateness for Listing and submit it to the Exchange.
Ongoing role of a J-Nomad
Once a company has been admitted to the market, a J-Nomad must be retained at all times to ensure that the company fulfils its ongoing obligations under the market regulations.
The J-Nomad system is integral to the TOKYO AIM model. Should a TOKYO AIM company cease to have a J-Nomad at any time, the Exchange will place the company on the Watch List. If the company is unable to appoint a replacement J-Nomad within a set period of time it will be de-listed from the market.
The J-Nomad must act to preserve the integrity and uphold the standards of the Exchange at all times. It must also strive to ensure equality among the shareholders of the TOKYO AIM company while providing advice and guidance to its board of directors.
