Japan Exchange Group to sell its 4.95% stake in SGX

Singapore

JAPAN Exchange Group (JPX) said on Friday that it will sell its 4.95 per cent stake in Singapore Exchange (SGX) progressively over a period of about three years.

The introduction of Japan's Corporate Governance Code in 2015 requires listed companies in Japan to examine and explain the economic rationale and future outlook of holding shares of other listed companies for reasons other than pure investment purposes, JPX said.