JPX Unlocks Daily Share Data, Shaking Up Market Intelligence

TOKYO – January 20, 2026 – JPX Market Innovation & Research, Inc. (JPXI), the data and innovation arm of Japan Exchange Group (JPX), today launched two new datasets that fundamentally alter the information landscape for investors in the Japanese market. The "Listed Shares Flash Data" and "Listed Shares Corporate Action Factors" datasets, delivered through the J-Quants Pro platform, replace the Tokyo Stock Exchange's decades-old monthly reporting schedule with daily updates, providing an unprecedented level of timeliness for corporate users.

This shift from a month-long wait to a daily feed of critical share information—including changes from capital increases, stock splits, and warrant exercises—is poised to reshape strategies for trading, risk management, and regulatory compliance across Japan's equity market.

A New Era of Timeliness for Market Participants

For years, institutional investors, quantitative analysts, and risk managers have operated with a significant lag in official data regarding the total number of a company's listed shares. The traditional process involved waiting until around the 20th of each month for the Tokyo Stock Exchange (TSE) to publish a consolidated report. This delay created a window of uncertainty where market-moving corporate actions were not reflected in official share counts.

The new "Listed Shares Flash Data" eliminates this information gap. It provides the daily number of listed shares for every company on the TSE, offering three distinct counts: shares issued, shares listed, and shares used for index calculation. While these figures ultimately converge, their values can differ temporarily depending on the nature of a corporate action, providing a granular view previously unavailable.

Complementing this is the "Listed Shares Corporate Action Factors" dataset, which details the reasons behind the day-to-day changes in share numbers. This allows users to not only see a change but immediately understand its cause. For quantitative funds and high-frequency traders, this near real-time intelligence is a critical advantage. It enables the refinement of algorithms that rely on precise share data and allows for swifter reactions to market developments. This daily, exchange-verified data on share counts closes a major blind spot, moving a key piece of fundamental data much closer to the real-time world in which traders operate.

Reshaping Compliance and Corporate Valuation

Beyond the trading desk, the impact of daily data is profound for compliance departments and financial analysts. Japan’s stringent regulatory environment includes the "Large Shareholding Report," colloquially known as the "5% Rule." This regulation requires investors to file a public report within five business days of their stake in a listed company exceeding 5%, or changing by 1% thereafter.

Accurately calculating this ownership percentage depends on having the correct total number of outstanding shares. A delay in this denominator could lead to inadvertent reporting failures. The new daily datasets provide what the press release calls "provisional confirmation of required information," giving firms a much more reliable and timely figure to monitor their positions against regulatory thresholds. This dramatically reduces compliance risk and the operational burden of verifying share counts through other, less direct means. The same benefit applies to the monitoring and reporting of short-selling balances, which also rely on accurate share data.

Furthermore, the daily updates enhance the precision of key financial metrics. The Price-to-Book Ratio (PBR), a critical valuation tool, is directly affected by the number of shares outstanding. With daily data, analysts can calculate a more accurate, up-to-date PBR, leading to better-informed investment decisions and more precise company valuations. This move addresses a long-standing demand from market participants for more current information to support their financial modeling and analysis.

A Strategic Play in the Global Data Arena

The launch is not merely a product update; it is a calculated strategic move by the Japan Exchange Group to bolster its position as a global financial information hub. Established in 2022, JPXI was created to spearhead data and digital innovation, with a clear mandate to increase the value and monetization of the exchange's data assets. This initiative directly supports that goal.

While global data giants like Bloomberg, Refinitiv, and S&P Global offer comprehensive corporate action data services, JPXI's offering carries a unique weight. As the exchange's own subsidiary, it is the "golden source" for TSE-listed companies. This provides an unparalleled level of authority and precision for this specific dataset, a compelling advantage for firms that prioritize data integrity. The historical data for both new datasets, extending back to May 2008, also provides an extensive foundation for backtesting quantitative strategies.

This move aligns with JPX's broader vision to attract more sophisticated global investment. By enhancing the quality and timeliness of its market data, JPX makes the Japanese market more transparent and accessible to international quantitative funds and tech-savvy investors who depend on such high-grade information. It signals a commitment to modernization that is crucial for competing with other major world exchanges.

Modernizing Access Through Technology

Equally important as the data itself is how it is delivered. JPXI is providing the new datasets through its J-Quants Pro service via modern, flexible channels: API, SFTP, and a direct integration with the Snowflake Data Cloud. This multi-pronged approach caters to a wide spectrum of corporate users, from large institutions with established data infrastructures to more agile fintech firms.

The availability on Snowflake is particularly noteworthy. Following a partnership announced in early 2025, JPXI has leveraged the platform to lower the barrier to entry for data analysis. Existing Snowflake customers can access J-Quants Pro datasets directly within their environment, streamlining the process of building and deploying data-driven applications without incurring significant additional infrastructure costs.

This technological infrastructure is supported by JPX's J-LAKE integrated data services platform, launched in January 2025. J-LAKE serves as the central nervous system for consolidating and distributing the exchange's vast data resources, ensuring that new products like the daily share datasets can be delivered efficiently and reliably. By embracing modern cloud and API-first technologies, JPX is not just selling data; it is building an ecosystem designed for the next generation of financial analysis and investment.