Batonz Co. Listing Mechanism: JPY 660 Center Price, 554A

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Apr. 20, 2026 TSE Matching Mechanism for the First Day of Listing: Batonz.Co.,Ltd.

Post Batonz.Co.,Ltd. (code: 554A) will be listed on Apr. 21.
The matching mechanism to be applied to Batonz.Co.,Ltd. until the initial price is determined is shown below.
This special matching mechanism is applied to first-time listed issues until its initial price is determined.

1. Order book center price
   JPY 660 (public offering or secondary distribution price)

2. Quote renewal
   (1) Initial special quote
   An initial special (bid or ask) quote will be indicated at the order book center price.
   *) If there is a matching quote within the special quote renewal price interval from the order book center price at the beginning of trading session, matching will occur instantly.

(2) Upper limit
Upper limit price: JPY 1,518 (230% of the order book center price)
Quote renewal: JPY 33 (5% of the order book center price) in 10-minute intervals
A special bid quote will be raised by JPY 33 at intervals of 10 minutes up to JPY 1,518 or until an initial price is determined.
*1) Trading may be executed if a matching quote is within the range of the special quote renewal price interval.
*2) If the calculated price of the next special bid quote to be shown is less than the next tick, a special bid quote may be rounded up to the price of the next tick.
*3) If the regular special quote renewal price interval is larger than the above renewal price interval, such quote will be renewed at the normal price and time intervals.
*4) The cap for the initial price is the above upper limit price plus the regular renewal price interval.

(3) Lower limit
Lower limit price: JPY 495 (75% of the order book center price)
Quote renewal: Regular renewal price and time intervals
A special ask quote is renewed in the same way as other issues, that is, based on the same price and time intervals.
*) The floor for the initial price is the above lower limit price less the regular renewal price interval.

1. Daily price limits
   The daily price limits will not apply until the initial price is determined.
   Once the initial price is determined, the daily price limits will apply with the initial price set as the base price.

2. Acceptable order price range
   Between JPY 165 (25% of the order book center price) and JPY 2,640 (400% of the order book center price)
   Once the initial price is determined, the daily price limits will apply with the initial price set as the base price.

3. Prohibition of market order
   For issues listing for the first time, buy and sell market orders will be prohibited in transactions carried out on the listing date.
   If no trades are executed on the initial listing date, buy and sell market orders will be prohibited until the day on which the initial price is determined.

DISCLAIMER: This translation may be used only for reference purposes. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. Tokyo Stock Exchange, Inc., Japan Exchange Group, Inc., and/or Japan Exchange Regulation shall individually or jointly accept no responsibility or liability for damage or loss caused by any error, inaccuracy, or misunderstanding with regard to this translation.

Contact

Tokyo Stock Exchange Inc.　Equities Department (Trade Supervision Group)
TEL:+81-3-3666-0141

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