Sapporo PRO Frontier Market
A professional-investor market operated by the Sapporo Securities Exchange for startups aiming to list on general markets such as the Main Market or Ambitious.
Last updated September 16, 2026
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Overview
Sapporo PRO Frontier Market is a market operated by the Sapporo Securities Exchange. It targets startups and similar companies aiming to list on general markets such as the Main Market (本則市場) and Ambitious, and is intended for professional investors. It has no formal (numerical) listing criteria and allows listing under flexible governance design. Its main investors are specified investors and similar (so-called "professional investors"), and disclosure may be in Japanese or in both Japanese and English.
History
Sapporo PRO Frontier Market is a market operated by the Sapporo Securities Exchange. It targets startups and similar companies aiming to list on general markets such as the Main Market and Ambitious, and is intended for professional investors. It has no formal (numerical) listing criteria and allows listing under flexible governance design. Its main investors are specified investors and similar (so-called "professional investors"), and disclosure may be in Japanese or in both Japanese and English. The market adopts the S-Adviser system, under which the S-Adviser investigates and confirms listing eligibility requirements.
Products and positioning
A market for professional investors that offers startups a new listing option and supports the formation of Hokkaido's startup ecosystem.
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