Tokyo Metro ‘s float on the Tokyo Stock Exchange marked Japan’s largest initial public offering since SoftBank’s ¥2.65 trillion listing in 2018

Tokyo Metro’s share rose almost 45% on Wednesday after a stellar IPO making it Japan's largest six years and raised $2.3 billion.

Ringo Choi, EY's Asia-Pacific IPO leader, said the success of Tokyo Metro "will attract more companies" to consider the Japanese market as an IPO destination. Tokyo Metro's initial public offering could drive momentum in the Japanese market and attract more companies into the country, analysts said, as China continues to lose steam.