Japan Exchange Group Inc OSCUF
Morningstar’s Analysis
1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
There is no one analyst in which a Quantitative Star Rating and Fair Value Estimate is attributed to; however, Mr. Lee Davidson, Head of Quantitative Research for Morningstar, Inc., is responsible for overseeing the methodology that supports the quantitative fair value. As an employee of Morningstar, Inc., Mr. Davidson is guided by Morningstar, Inc.'s Code of Ethics and Personal Securities Trading Policy in carrying out his responsibilities. For information regarding Conflicts of Interests, click here .
Morningstar Quantitative ratings for equities (denoted on this page by) are generated using an algorithm that compares companies that are not under analyst coverage to peer companies that do receive analyst-driven ratings. Companies withratings are not formally covered by a Morningstar analyst, but are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative moat, fair value, and uncertainty rating. Click here for more on how to use these ratings.
Company Profile
Japan Exchange Group, or JPX, is a vertically integrated exchange group formed by the merger of Tokyo Stock Exchange, or TSE, and Osaka Securities Exchange, or OSE, in 2013. Following the merger, TSE forms the cash equities markets, while derivatives are traded on the OSE. JPX is the majority owner in Japan Securities Clearing Corporation, or JSCC, which clears securities traded on both TSE and OSE, all other equity exchanges, and proprietary trading systems in Japan. Over-the-counter financial instruments including Japanese Government Bonds, credit default and interest-rate swaps are also cleared by JSCC. The merger with Tokyo Commodities Exchange is a long-term growth opportunity for JPX to expand into commodities and energy-related derivatives products.